Canadians are receiving huge discounts investing in U.S. Real Estate.
As crazy as this may seem, in certain areas, the price of U.S. Real Estate has dropped by as much as seventy percent! This has provided a great opportunity for Canadian investors by allowing them to have more purchasing power through depressed real estate prices and a strong Canadian dollar.
Canadian investors interested in the U.S. Real Estate market have gravitated to the Phoenix and Scottsdale areas of Arizona. Consequently, these areas have witnessed a huge influx of Canadian investment capital.
Canadian snowbirds choose Arizona as a hot spot for opportunity for U.S. Real Estate
Surveys have been performed in the area by Realtors and it has been determined that the majority of Canadian investors seeking to invest in Arizona real estate have primarily been of retirement age meaning 50 years or older. This is further evidence that Canadian retirees are interested in investing in the Arizona real estate market for vacation homes and investment properties. This makes perfect sense because many Canadians want to invest in an area such as Arizona not only because of its affordability, but also because of the beautiful weather, and other opportunities that this state offers.
Phoenix real estate market is making a comeback
The Phoenix real estate market has been showing signs of recovery, as property sales have been increasing since the beginning of the year. This has given many investors hope that the housing market is set to recover sooner than expected and reinforces the fact that now is a great time for not only Canadian investors but also for other investors to take advantage of the affordable housing market in this area before its too late.
Foreclosures are great investment opportunities
One popular sector within the Phoenix, Arizona housing market is REO properties (foreclosures). These properties, which are owned by banks, are proving to be great deals for Canadians with prices lower than other types of homes on the market. Although, REO can be lucrative investments, it is in your best interest to work with an experienced and knowledgeable Phoenix real estate agent that can help you navigate the treacherous terrain.
Invest now, not later
Now is the best time for Canadians to invest in Arizona real estate due to the strong Canadian dollar in comparison to the US dollar. It is predicted that the US dollar is getting ready for a rebound which might limit the purchasing power of Canadian investors. Therefore, it is in your best interest to take advantage of the current housing market, as you might find yourself wishing that you did in the future. The U.S. Real Estate market has slowing been showing signs of recovery, which is why Canadians should invest now in the Arizona real estate market while prices are still at low levels and the supply of inventory is plentiful.
Conclusion: Canadian investors will find that Arizona U.S. Real Estate offers a great opportunity to maximize their investment returns.
The state features beautiful golfing communities, family activities, and year-round warm weather, all for a fraction of the price they would cost in Canadian metropolitan areas. If you have not already looked into investing in the U.S. Real Estate market, your opportunity may be passing you by.