The Phoenix, Arizona area is an attractive real estate market for Canadians. Not only did our Governor just recieve a commitment from a Canadian company to expand its operations here, but with the fall of the American dollar homes in Phoenix just got a whole lot cheaper.
Just to illustrate this dramatic fall, I have graphed what a $250,000 home in Phoenix, Arizona would cost in Canadian dollars. This chart plots prices from the beginning of the year (2007).
The maximum price was $296,350, reached on February 9 and we just hit bottom at $241,825 on October 21st. That is a 18.4% fall from the peak! Stunning.
It’s going to start snowing up there in Canada really soon. So just hop on a plane and come on down to catch some sun and see some real estate! You’ll be sure to find lots of bargains!
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on Oct 31st, 2007 at 8:26 am
That’s a pretty good fall in home prices. Hope the real estate market and also the mortgage industry in Arizona makes some good business.
on Oct 31st, 2007 at 8:30 am
Jessica,
It sure is. One thing that people don’t see is that once the dollar becomes stronger they make instant money. So, the currency fluctuation can be in their best interest.
on Dec 11th, 2007 at 11:44 am
[...] further erode the dollar against the major currencies (making Arizona real estate even cheaper for Canadians, British and Europeans). According to Bloomberg: The Federal Reserve cut its benchmark interest [...]
on Jan 27th, 2008 at 11:01 am
[...] are many reasons to buy real estate in the United States. If you’re Canadian, parity of the two currencies (USD and CD) could be one of them. While [...]
on Apr 7th, 2008 at 10:02 am
i have a beautiful 1440 sw ft manufactred home for sale in sun lakes, a 55+ community, nicely furnished for only $169,000. how can i contact the canadian market without going through hundreds of realtors?
bern wisner
on Apr 10th, 2008 at 10:51 am
Bern,
I guess you could set up a webpage and market it through some networking. I really wouldn’t know where to start when it comes to marketing properties. I guess that is why I always get a listing agent.
on Apr 12th, 2008 at 7:04 pm
Hi,
Can you give me some more detais on:
How can Canadian buy house in US but not working in US?
Any residence concern?
Thanks!
on Oct 21st, 2008 at 1:07 am
This is really pushing the boundaries, very innovative….
Thanks,
Timmy