Toronto Investors Buying Florida Real Estate

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Mortgage and Lending with San Diego VA Home Loans/858-777-9751

Canadians are buying American real estate in droves.The rapid descent of the dollar against the loonie (Canadian dollar), combined with the drop in American real estate prices is bringing more and more Canadian investors across our northern border in search of investment riches.

From the Globe and Mail:

You may want to make that U.S. vacation a regular thing. While Canadian housing prices are inexhaustibly buoyant, the U.S. market is falling hard. The average resale price tumbled 10 per cent across the country in September, and in balmy Phoenix, third-quarter sales of single-family homes were off 23 per cent. A recent report in the Arizona Republic newspaper said one-third of homes on sale in the Phoenix area are sitting empty, many of them owned by investors who need to sell because they can't find renters. Think about it: You can score yourself a nice vacation property in Arizona and help out an embattled American real estate speculator at the same time.

 We're helping two Canadian citizens get mortgage financing in the US,  right now.  One is looking for property to own in Fort Lauderdale while the other is seeking a condo along the San Diego coast.  Here's the interesting thing- while prices in both markets are down 20%, the rise in the loonie makes that home in Miami or that condo in Carlsbad some 30% cheaper to a Canadian investor than it was last year. 

Arizona, Florida and California are on sale, right now, for Canadian investors but we have the Stanley Cup in Anaheim, and that just isn't for sale.

 

A compendium of articles about how Canadian investors need mortgages from U.S. Banks: 

Black Pearl Marketing Minute: How did Brian Brady get to be Canada’s Favorite American Mortgage Broker?

Why Are Western Canadians Buying Arizona Real Estate?

Canadian Investors Need Mortgages For Arizona Properties

How Canadians Shop For American Mortgages

Canadians Finding That American Mortgage Money Is Scarce

American Mortgages For Canadian Residents: Documentation

Canadian Investors Need American Mortgages

Will Bias Against Canadians Extend to the American Real Estate Market?

Canadians Buy American Real Estate

Canadian Investors, American Real Estate: The Currency Play

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Rainmaker
188,958
Susan Milner
Florida Future Realty, Inc. - Cape Coral, FL
Cape Coral Real Estate Broker, FloridaFutureAgents
We have quite a few Canadians looking for Florida real estate right now. SW Florida has some great deals.
Apr 27, 2008 12:11 AM #1
Rainmaker
131,098
Matt Horton
Realty One Group- The Horton Team - Scottsdale, AZ
North Scottsdale Real Estate

Arizona Loves Canadians!  We have been working predominately with Canadians because of the favorable exchange rate, direct flights and our overall market!   If you or someone you know is looking for a home in Arizona, I would love to talk to them!

 

Matt Horton

480-227-3311

info@thehortonteam.com

Apr 05, 2010 07:20 AM #2
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