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Business notes: Real Estate market for newcomers.

Monday, June 13th, 2016 at 12:35pm

August 26, 2015. Today, I will be writing about the real estate market for newly arrived US residents from Tajikistan and other former USSR countries, since most newcomers are hesitant about purchasing versus renting. A lengthy thought brought me to find out three main reasons.

The reason number one is, lack of real estate transactions. I was born in one of the former Soviet Union countries where everything belonged to the state and public didn't have variety of forms of ownership. Even after twenty five years after the collapse of the USSR people have difficult time to get adjusted to capitalism. It does not mean that people weren't buying or selling properties but it just was not well regulated compare to the US market.

The second reason is financing sector. When I say finance sector, I mean more to the banking sector. Most banks didn't have or even now, mortgages which makes it difficult for newly residents to figure out all pros and cons of having mortgage with acceptable rates. 

And the third and most important reason is a consumer confidence that was shaken during the decade of economic turmoil in those countries. That made people very sceptical about any financial transactions.

Finally, all above mentioned reasons motivated me to become first ever Tajik national real estate agent here in the state of Virginia and Maryland maybe even in the United States of America. My goal is to educate newcomers about history of the US real estate market such as laws, forms of ownership, brokerage relationship, taxes and to lead them in the right direction since it is a lifetime purchase for most them. I look forward to assist newcomers in the DMV area and outside since I am part of true global real estate company that operates in 37 countries with over 700 shops worldwide. Look forward to hear from you and don't hesitate to contact me at bakh.safarov@evusa.com for any real estate questions.

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