Canadians seek U.S. vacation-home deals

LOS ANGELES – April 8, 2008 – Canadians, especially those who live in U.S. border areas, are snapping up vacation homes in the U.S. as the Canadian dollar gains value against the declining American dollar.

Developers in the finger lake areas of Washington State say more than 80 percent of buyers are Canadian. “The Canadians are just running out of space, and affordable space at that, so it’s driving them across the border,” says Chris Branch, city planner for Oroville, Wash.

The largest number of Canadians seeking U.S. property head to Florida. California was second in popularity, according to a survey by the National Association of Realtors® (NAR).

How can you capitalize on Canadian buyers? Greg Moesser, estates director at Prudential California Realty in Beverly Hills, says a strong Internet presence with an international flair is crucial because Canadians frequently familiarize themselves with U.S. housing markets online before they search for a specific property in person.

Source: The Associated Press, Shannon Dininny (04/04/2008) and The Los Angeles Times, Marcie Geffner (03/23/2008)

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