Volatile stock market and changing currency rates affecting US property market

Investors looking for real estate in the US have been advised to use a specialist currency provider when purchasing property to take advantage of better rates.

Paul Collins, editor of portal BuyAssociation, has claimed that individuals can make potential savings of "tens of thousands of pounds" if they opt for professional organisations, rather than high street banks.

Furthermore, Mr Collins warned that the volatile stock market and currency exchange rate fluctuations can have a significant effect on the intentions of potential investors.

"It can be quite a concern, because a change in the exchange rate over the time a property purchase takes to complete can result in you spending thousands of pounds more or thousands of pounds less in real terms on the property itself," he explained.

Individuals looking for Florida property may wish to follow the expert's advice, with the possibility of finding a bargain distressed property keeping potential costs to a minimum.

The latest figures for RealtyTrac revealed that the number of foreclosed properties entering the market fell for the first time since January 2006 last month.

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