U.S. real estate values present opportunity to Canadians


WASHINGTON – June 24, 2009 – The number of Canadian investors in U.S. real estate rose to 23.5 percent from 11percent over the last year, and condominiums account for almost half of their purchases.

Additionally, the National Association of Realtors says more than 64 percent of Canadian buyers will use the dwellings as vacation retreats. Canadians are finding U.S. real estate to be a good investment due to the best exchange rate in about 30 years and ongoing declines in American property prices.

“When (the Canadian dollar) hit a dollar ten, it really created a real buzz for Canadians, not only those looking to buy second homes, but we’re also seeing it from buying purely from an investment standpoint,” says former Toronto financial planner Mark Dziedzic.

Source: Sierra Vista Herald (06/22/09)

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