We are definitely seeing more and more Canadians visiting our condo communities.  These winter visitors are looking to take advantage of the current strength of their currency (the loonie) against the American dollar.  They know that as soon as they cross the border they are getting a discount just because our real estate prices are depressed AND our currency is depressed compared to theirs.

So, we all believe that our real estate prices will eventually turn around and there's a very good chance that our dollar will rebound against the loonie so our neighbors to the north have a wonderful opportunity to enjoy some great appreciation in the not too distant future.

I encourage these visitors to buy in the one area of Phoenix that is currently "artificially" depressed (meaning that it is lower today solely due to actions taken by human beings) namely the area along the Phoenix portion of the light rail.

It is no secret that light rail construction has caused serious financial hardship for small business owners along the route.  Traffic is so congested that most commuters are flat out avoiding the area and thereby seriously hurting sales in these businesses.  Well guess what, those same conditions are making it really hard to sell property along the light rail route.  However, that should all radically change in six to twelve months and then some.

When the light rail construction is completed every media and news outlet will be featuring the area.  Grand opening events will be held.  Everyone will be flocking to the area to check it out.  Don't you think that those conditions will make for a great real estate "micro" market?  I believe that sales will increase almost like someone flipped a switch.  The Central Avenue corridor is NOT like the outlying areas of Phoenix which are suffering due to way too much supply.  Instead Central Avenue corridor properties are suffering (in addition to overall market conditions) from all the pain in the neck construction; and that is a finite issue.