Are you a Canadian thinking about buying residential real estate in metropolitan Phoenix? You and everybody else. Prices are low, the weather is incomparable — and the Canadian dollar — the Loonie — is trading at very favorable rates against the U.S. dollar. Canadian home buyers can take a 60% discount off our peak prices, plus an additional 15% discount on the exchange rate. There’s just something about buying a rental or getaway home for 75% off that’s hard to beat.
I tend to write a lot about rental home investing, but opportunities for all sorts of Canadian buyers abound in Phoenix right now. For example, here is a search of single-family homes in tony Paradise Valley. And here is every golf course home currently available in Scottsdale. If anything, prices on higher-end homes are even lower than they are for cheaper properties. And mortgages for Canadian home buyers are easier to obtain than they have been for years.
The truth is, it’s a perfect storm for all buyers in the greater Phoenix market right now. There are plenty of great homes available at bargain-basement prices. Interest rates are hovering at historic lows. And the house-hunting weather could not be more perfect. But Canadian buyers have all those advantages plus a very favorable currency exchange rate. If you’d like to explore your options, you can start by searching for your ideal home in Phoenix or Scottsdale. When you’re ready to find out more, send me an email or phone me at 602-740-7531.
You may never see a convergence of events like this again. We’re ready to jump when you are.
