Arizona Real Estate Market Great For Canadian Buyers

October 10, 2009 at 8:36 pm Leave a comment

Earlier this month, a story in a prominent newspaper in Canada reported how many Canadians are taking advantage of the incredibly low prices of homes in Phoenix while the Canadian dollar is really high.

Prices on houses in some areas of Metro Phoenix are 50 percent lower than they were in 2005. Canadians can purchase a home in Arizona for an average 35 percent down payment, depending on the institution they get a mortgage from – or they can pay cash.

Canadians may purchase a home for investment purposes, as a winter home, or both. Phoenix averages 320 sunny days per year and is the golfing capital of the United States – both strong selling points to our friends north of the border.

There are also many active-adult communities available to those who are at least 55 years or older. These communities offer state of the art amenities and activities including exercise rooms, ballrooms, swimming pools, billiard halls, golf courses, tennis courts and more. These developments are very popular areas as second homes among Canadians in their senior years. In addition, affordable neighborhoods with varying age groups including families and seniors are also great options for those looking for a different lifestyle. Most Canadian visitors – often dubbed “snowbirds” – visit Arizona during the cool months of November through May, then return back to Canada in the summer.

With the Canadian dollar strong and home prices at historic lows, now is a great time for those snowbirds who haven’t already invested in their own home in Arizona to consider doing so.

I occasionally have the pleasure of working with Canadian buyers and sellers and enjoy helping them with their specific needs. If you have questions on how a Canadian or other foreign buyer can purchase a home in Arizona, please feel free to contact me at (480) 650-0075.

Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate, Real Estate Deals. Tags: .

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