Why Canadians Are Investing In Arizona Properties Now
Why Canadians Are Investing In Arizona Properties Now
Canadian buyers looking to buy their dream home are currently making use of the remarkable low costs of properties in the United States. U.S. real estate agents state that there's been an incredible rise in Canadian interest in U.S. locations such as Arizona, just as demand from U.S. buyers is on the low. Moreover, weather conditions in the U.S. are comparatively more appealing, and Canadian real-estate costs are soaring as well, particularly in Calgary.
Strength Of The Canadian Dollar
The strength of the Canadian dollar is exceeds its historical average in the previous decade by approximately U.S. 78 cents. This makes buying U.S. dollar denominated goods more affordable compared to the usual situation before.
Long-term Benefits
Canadian investors are at present the most active in the U.S. market. One big reason is the transition from very cold, harsh winters in Canada to milder climate in the U.S. Numerous Canadians look into purchasing property in the U.S. to reside there after retiring. This is a highly available and preferred option. Even if you're not a U.S. citizen there are still many banks and lending establishments that will offer financing to foreign investors, and majority of them require a range of 27 to 30 percent deposit.
More U.S. Citizens Are Renting
The housing slide in the U.S. as well as the financial crisis and recession have resulted in a good number of people to look for other opportunities when it comes to purchasing a home. It has been observed that 72 percent of Americans stated home ownership was part of their long-term plan, down from 77 percent previously within the same year. More demand for rental property has lead to higher rental returns in a number of U.S. cities, especially for properties with 3 or more rooms.
Home Costs And Mortgage Rates Are Very Low These Days
Since 2006, the values have gone down by 28 percent. Some experts believe home prices in the U.S. will only start to go up in the next 3 years. Recently, 30-year fixed rate mortgages have been offered for as low as 3.8 percent.
In The Near Future
The mix of strong Canadian dollar, reduced U.S. home prices and rent appreciation can indicate some large profits for future buyers. Investors can concentrate on the long-term since it will take some time for home costs to go up again. Once the U.S. market starts to improve, the Canadian dollar will most probably return to its previous average, which will ultimately lead to gains those bought in U.S. assets.
Why Arizona?
The tremendous slide in the Arizona real estate market in previous years has affected homeowners considerably. But with costs starting to go steady, investors, particularly from Canada, are beginning to grab the best offers that can be easily discovered in Scottsdale, Phoenix and Chandler, Arizona. For instance, the main attractions for Canadians and all others planning to invest in the Phoenix housing market are a huge decline in costs when it comes to single-family homes, condos, land and town homes. Recent reports have indicated that Arizona land costs have gone down around 35 percent, where condominium costs dropped by 27 percent and residential property by over 15 percent. Moreover, the weather conditions in Arizona are much warmer than many other States.
Maureen Karpinski
Find your
Phoenix Arizona Property at Cactus Country
Arizona Homes & Properties http://www.articlesbase.com/home-and-family-articles/why-canadians-are-investing-in-arizona-properties-now-3691122.html
Income Drawdown A Valuable Retirement Option Introduction To Retirement Pension Planning Retirement- Free Helpful Guideline For Retirement Investing in International Equities Say bye to Money Worries by Investing Filing For Suplimental Security Income? Learn What A Lawyer Should Do For You How To Choose Divorce Lawyers In Portland, Oregon? Retirement Planning- Free Helpful Guide For Retirement Planning Please Read The Offer Documents Carefully Before Investing To The Medigap Plans Dui Lawyer on Florida Entrapment Regulation Retirement Community- Free Helpful Guide For Retirement Community Retirement Communities- Free Helpful Hint For Retirement Communities Retirement Calculator- Free Interesting Knowledge Base For Retirement Calculator