Canadian Real Estate Investors Buying Property in Arizona
Lured by a weak U.S. dollar in comparison to Canadian currency and historically low interest rates and property prices, there has been an uptick in the number of Canadian Real Estate investors buying properties in Arizona.
In a recent WSJ article, Chana Schoenberger gives some incredible figures. For the period from March 2009-March 2011, Canadian investors consisted of the largest percentage of foreign home buyers in the United States with an amazing 23%, a jump from 11% four years ago. Mostly, Schoenberger noted Canadian real estate investors buying property inArizona and Florida.
Some Arizona real estate agents are trained and experienced in helping Canadian real estate investors buy property in Arizona. Sites such as ArizonaEh.com are geared specifically for Canadian real estate investors.
Many Canadian real estate investors are seeking to buy property in Arizona for the sake of renting it for a time, and then selling it for a profit in five to seven years. Others are buying property to be used as an investment property now, with a future as a retirement home.
Other Canadian real estate investors buying property in Arizona opt for the live-in investment. Mesa, Arizona is a community with a larger population in the winter months, as “winter visitors” leave colder climates for the perfect weather of the Phoenix metro area. With large numbers of season-long visitors from the north, there are many businesses designed for those residents, including Canadian-themed restaurants and bars. Maple leaf flags can be seen on “Canadian-friendly” businesses which go out of their way to attract Canadians.
Canadian real estate investors buying property in Arizona often buy with cash, but also take out mortgages with U.S. banks.
In addition, Mesa, Arizona is a popular location for Canadian real estate investors buying property in Arizona because of its airport, Phoenix-Mesa Gateway Airport, which is home to Allegiant Airlines. Allegiant is an affordable carrier which offers service to Bellingham, WA and to Grand Forks, ND. Many Canadian citizens cross the border from Vancouver and Winnepeg for the inexpensive rates to and from Mesa, Arizona.
The Kenny Klaus Team is very experienced in understanding what Canadian real estate investors buying property in Arizona are looking for. To set up an appointment or to see online listings, visit www.thekennyklausteam.com or call 480.354.7344.
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