Keller Williams - Weston (Sean Lam) Hugo Chavez Passed Away

Brought to you by Keller Williams Sean Lam. There is a sizable Venezuelan community in South Florida. They feared Chavez's leftist government and brought their wealth to invest in US real estate market. Doral is home to thousands of Venezuelan expats. Many new constructions have been started in recent years to meet the demand of these buyers. The home prices there have been bucking the downward trend of US housing marketing over the last few years. Properties in the range of millions are not uncommon. The supply continues to tighten and it will only drive the prices higher. Yesterday, the Venezuelan expat community breathed a sigh of relief with the passing of the radial President. The question is now if they should return to their country. If they do, would they liquidate their investments in the US and drive the home prices down, particularly in Doral?