But if there's one problem with investing in properties abroad, it's uncertainty. One never knows when governments will change, if basic services will be available, if ownership rights can be protected, and how secure anyone's legal position is. For the serious second home buyer, there are a number of options to reduce these risks. Certain locations around the globe offer beauty and a measure of security, while others are, in fact, located on American-owned soil.

In Passport to Exotic Real Estate, real estate expert and travel writer Steve Bergsman offers detailed advice on the benefits and challenges of buying property in more than a dozen locations around the world, including U.S. territories such as American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands as well as places a little closer to home like Costa Rica, Panama, and the Canadian province of Newfoundland.

Though interviews with “locales” familiar with their real estate market—from developers, brokers, and agents to homeowners, resort operators, and attorneys—and firsthand stories of people who have gone through the buying process, Bergsman answers essential questions about each area, including: Are foreigners welcome? What visas are required? Can loans be secured? What are the tax implications? Are medical services nearby?

Chapter by chapter, you'll be taken on a virtual tour of various lands and discover the pros and cons of each one. Bergsman provides you with timely tips to take into consideration before making any commitments and shows you how to go about purchasing everything from condos and single-family homes to undeveloped land.

The prohibitive cost of desirable vacation and retirement areas within the continental United States, combined with the relative ease of modern travel, has made buying a second home abroad more attractive than ever. Read Passport to Exotic Real Estateand take the first step to securing an oasis of your own.

“The definitive guide to buying a second home in an exotic locale. Bergsman's book is a must-read for anyone looking to buy vacation real estate in the United States, Central America, Newfoundland, or the Islands of the Caribbean or Pacific. A historical perspective provided through interviews with local residents and real estate professionals, coupled with detailed discussion of the legal and financial issues related to buying property in each market, makes this how-to manual required reading for anyone considering the purchase of a second home.”

—RICHARD SWERDLOW, FOUNDER AND CEO, CONDO.COM

“Steve Bergsman has taken the questions out of buying a retirement or second home when investing in exotic locations. His ‘ten things to know' about each market analyzed is a tremendous advantage to anyone buying a second home in Alaska, Hawaii, Puerto Rico, or many of the other markets researched in this book.”

—DAVID BRECHER, PRESIDENT, TRUMP FINANCIAL

“As a travel journalist who has journeyed to some of the more exotic places on Earth, I am often asked, 'Wouldn't you like to have a vacation home in one or more of those places?' Visiting, even covering, faraway places didn't provide me with the necessary information to answer that question. Would that I had had Steve Bergman's wonderfully informative Passport to Exotic Real Estate.”

—TONY TEDESCHI, FOUNDING EDITOR, NATURALTRAVELER.COM

“Steve Bergsman has written an informative and comprehensive profile of foreign real estate opportunities for the adventurous but rational second home buyer. For those looking for an alternative to property investment in the United States, this guide covers all the angles and is a plethora of worthwhile information and ideas.”

—ALISA BENTZAUTHOR, BOOK HAVEN REVIEW BLOG HTTP://NYSSANEALA .BLOGSPOT.COM

Given the costly uncertainties of the domestic real estate market, buying a second home in desirable vacation areas within the United States has become nearly impossible for many. Increasingly, Americans are turning to more affordable regions overseas, some stay close-by in Mexico or Canada, while others are more adventurous, looking to parts of Central America, the Caribbean, and Pacific Islands. In Passport to Exotic Real Estate, real estate expert and travel writer Steve Bergsman offers detailed advice on the benefits and challenges of buying overseas property, including whether or not foreigners can legally own property, tax implications, availability of beachfront land, market trends, investment security, local regulations, and much more. With this book as their guide, readers will be fully prepared to overcome the obstacles of overseas property ownership and discover the benefits of living/vacationing abroad.

Steve Bergsman (Mesa, Arizona) is a real estate, financial, and travel writer with more than 20 years' experience. His news stories and travel articles have been published in more than 100 publications around the world and he has appeared on local and national radio and television. Bergsman is also the author of two previous real estate books, Maverick Real Estate Financing (978-0-471-74587-7) and Maverick Real Estate Investing (978-0-471-46879-0).

About the Author.

Introduction.

Chapter 1. American History: The Evolution and Migration of Second Home Investments.

Chapter 2. Hawaii: Condo Demand Ebbs and Flows Like Strong Ocean Tides; Southern California Real Estate Good Market Indicator.

Chapter 3. Alaska: The Beauty of Summer Here is Unequal to Anything Else; It's Not All Remote Cabins As Golf Homes and Ski Condos Attract Folks from Lower 48.

Chapter 4. Puerto Rico: Skyrocketing Housing Market Comes To Abrupt Halt; Bank Problems Mean More Scrutiny, Time In Mortgage Process.

Chapter 5. Virgin Islands: Popular Second Home Market for East Coast Investors; Crime Issues Worrisome but Certainly No Deterrent.

Chapter 6. Guam: Military Buildup Rolls Back Real Estate Depression; Take a Second Home Here and Travel to Asia and Other Pacific Islands.

Chapter 7. Saipan: The Last Real Estate Bargain under the Stars &Stripes; Federalization, Leasehold Law Liberalization May Be Needed to Save this Economy.

Chapter 8. American Samoa: Storied Tropical Paradise in the Heart of the South Pacific; Communal Property Ownership a Real Impediment to Development.

Chapter 9. Mexico: Reverse Migration as Americans Head South across the Border; Ownership Regulations Complicated but Trustworthy.

Chapter 10. Costa Rica: Salubrious Climate, Beautiful Topography Creates Countrywide Market; Lack of Regulation Means Buyer Beware.

Chapter 11. Panama: High-Rise Condominium Market in the Tropics; Cheap Living, Senior Discounts Attract Retirees

Chapter 12. Honduras: The Island of Roatan Boasts Caribbean Lifestyle; Investors Enjoy Full Ownership Rights to Beachfront Property.

Chapter 13. Dominican Republic: Punta Cana Second Home Market Hot, Hot, Hot; Prices Remain Moderate Except in Upscale Projects Like Cap Cana.

Chapter 14. Newfoundland: An Unlikely Canadian Success Story; Europeans Rediscover New World and Create a Second Home Market on Shores of Mountain Lakes.

Notes.