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I have not read anything on the subject. Will let you know, if I see something. Is the increased cost due to the decrease in value of the Canadian dollar? A
John McCormack, CRS
Susan - While Canada may represent 1/4" of international visitors to Florida, I believe the majority of visitors are national, so it's 1/4" of a small percent.
And, it's probably more than offset from what appears to be an increase in desire from the Northeast where we've had 2 really bad years of snow in a row. I can't even tell you how many "older/established" customers I've heard talking about moving there or going there for the winter...and a few years earlier than they planned. When I say older/established, I mean boomers who have done well in career and/or have paid for most of their mortgage and have much for flexibility to either buy/sell and/or (as is often the case here), buy a 2nd home.
I've noticed an increase in activity and inquiries from northerners aka snowbirds just in the last couple of weeks. If nothing else, it seems to me that they are starting a little earlier this year to plan and look for property. We love our Canadians and hope they are not going to stay out of the sunshine this winter!
I'm not expecting any drop. Our prices are level in Albuquerque and Rio Rancho NM. Your increase price is news to me.
John McCormack, CRS
Susan Emo - The most rapid rise in cost was between mid Dec 2014 and beginning of February 2015 when the exchange rate went from approx 1.16 to 1.29 (based on my USD credit card transactions). The current cash buy rate is approx 1.36. I have been asked by people whether they should convert CAD to USD now for snowbird vacations or wait to before they leave in a couple / few months.
I was passing through the Watertown, NY area, close to you, earlier this year and noticed that many restaurants and hotels (and likely stores) were offering their goods and services at par to drum up cross-border business and to hopefully get Canadian business from those returning home from driving travels through our southern neighbour. I am sure a lot of the border cities and towns are hurting this year and likely a lot of US sellers that ship to Canada.
I'm sure that many of the snowbirds who will still go south will likely reduce the purchase of goods and services in the USA due to rapid increase in costs. For example, they may reduce the amount of time spent in their winter getaway, spend less time and money at tourist attractions, eat in their rental condos more and go to the restaurant less, etc.
OMG, no. They've already started coming down.
John McCormack, CRS
Susan I'm not expecting a drop in snowbirds in the Phoenix area. Haven't seen anything to indicate there will be big drop in visitors. In fact it appears we're heating up in that area.
Impressive number, I would not be one of them.
That is quite an impact.
Maybe I have my head in the sand, but this is the first I have heard of it.
If anything with the currency at near equal, from what I have heard...I think there would be an increase if anything
I won't lose a millisecond of sleep regarding what other suggest they are hearing.
If the Canadians don't want to buy, their is another buyer right behind them.
Not to worry here in Florida. There is anohter buyer.
HOWEVER, since most Canadians buy where other Canadians live and sell to the same group. the only ones who will be effected are the Canadians.
No, Canadians are not 1/4 of Florida's visitors each year with the exception of Tampa Bay where the Toronto Blue Jays have a Spring Training facility. Even then, Michigan and/or Pennsylvania outpaces Canada by 10%.
Kauai get a lot of Canadians. So far I'm not hearing of any drop off expected this year.
I have not heard anything about this, I still see people coming here to Vegas in droves renting 6 month or so even starting now. I personally can not wait to get back to the cold in Chicago.
It is a very good time for home sellers in Maryland and retirees can get a lot more for their money in Florida and have lower real estate taxes as well.