Real Estate Blog - The Canadian Dollar is still hovering over $ 1.00...Do you think it's a good time to purchase a home in South FL?

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The Canadian Dollar is still hovering over $ 1.00...Do you think it's a good time to purchase a home in South FL?

Canadian Flag

Over the last year ....I've been studying the Canadian Dollar to US Dollar exchange rate.

I never realized that from what I have heard their rate has been at an all time high over the last 40years. That's almost my whole life. I remember about a year ago we sold a $600K home to a person who was from Montreal. We closed in 3 weeks and their was no financing. That was a referral but we also are getting an average of 3-5 inquiries a week...mostly retirement communities but it's been a pretty consistent stream of income and they are no hassle deals.

Canadian Dollar

On some of the transactions we did....our clients purchased when the Canadian Dollar was even higher...I think back when I wrote this post... it was at about $1.10.

Our clients have come from Toronto and Montreal.

We look forward to seeing them again once winter begins.

For more information please contact Neal The Real Deal Bloom-Realtor® /Remax Premier Assoc.

Remax Real Estate Weston Florida

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556 Direct
(954)212-0257 Fax

nealb63@myacc.net

Posted by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL on 08/09/2008 07:32 PM

Comments (13)

canadian dollar, us, dollar, exchange rate, purchase, home, south, fl, canada, canadians

Originally posted at: Weston Florida Real Estate Blog, Neal"The Real Deal"Bloom : The Canadian Dollar is still hovering over $ 1.00...Do you think it's a good time to purchase a home in South FL?

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13 Comments on The Canadian Dollar is still hovering over $ 1.00...Do you think it's a good time to purchase a home in South FL?

AUG

2008

Wait about two more months and revist it..

There's never a BAD time to purchase a home in South Florida. It's a lifestyle decision. Tomorrow is not guaranteed. Buy it and enjoy it.

Hi Neal, Of course I wanted to answer that " Anytime is a good time to buy in South Florida ! " Seriously, the Canadians I speak with say they think this is a great time to buy with the combination of our market and the strength of their dollar.

Neil I remember when some businesses and vending machines would not take Canadian coins because of their lesser value. I bet they wish they had them now.

Neal - I can't place the article, but I came across something earlier this week that put forth the information that Canadians were looking to invest more and more into U.S. Real Estate. I'll try to find the link.

I also love Vickie's point above, about it being a lifestyle change. So freaking true and often overlooked.

AUG

2008

What a turnaround for the US dollar. The other day hubby asked about the exchange rate, because it used to be that $100 US would be $130-$140 when we drove over to Canada for dinner and/or the casino. US shoppers also accounted for a large part of the Windsor CA shoppers.

I can see why Canadian citizens would be looking in Florida for a nice get-away home or retirement residence.

If you are holding the home for several years this is an excellent time to be looking for a home! Florida has some excellent prices!

The overall out look for Real Estate in FL is in the favor of the buyers right now and if the exchange rate is high in Canada then it should make you think long term...holding is best in this market in general but since their dollar has been at a historic high the advantages for RE is better as they can actually pay less.

Neal...

A weak dollar + high invertory = now is the time to buy!

Neal, cool concept to go back down memory land with the re-linking. You dug up some good ones. Lots of veteran Rainers there.

Gary,

HuH?

AUG

2008

Neal- I love International Deals......my other office had many Canadian Snowbirds coming to Big River, because of the affordable 2nd home market and the strong Canadian Dollar as you say. Yes, a good time to buy :)

AUG

2008

Kathy,

So do I...interesting how their dollar is now stronger than ours.

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