US real estate consultants turn eyes to Iraq - Fox29 WFLX TV, West Palm Beach, FL-news & weather

US real estate consultants turn eyes to Iraq

Posted by Rachel Leigh - email

ST PAUL, MN (WFLX) - The tanking American real estate market has some enterprising Americans turning their attention to an unlikely market -- selling homes in Iraq.

Based in Minnesota, two Forex real estate consultants may have the house for you. Right now, their Internet based brokerage has 35 listings online. Perfect for the business traveler, international student or just somebody looking for a dramatic change of scenery.

"We saw an amazing potential in a country emerging from conflict with a lot of potential for economic growth and investment coming in," said Ishraf Ahmad. "And we truly believe that the key to stabilizing Iraq is economic development, and this is a great way to just do that."

Properties in a war-zone are not necessarily cheap as most range between $300,000 to $800,000.

So far, they've sold five without ever leaving their couch in St. Paul. Since they've never been to Iraq, they rely on their colleague in Baghdad who was hired off Craigslist.

Like any good salesmen, they say, as U.S. combat operations winds down, now is a great time to buy.

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