Phoenix Real Estate Blog

As the American dollar continues to depreciate compare to the Canadian dollar, Canadians are buying Real Estate in the US as a vacation home and residential rentals.

Washington State developers in the Finger Lake areas say over 80% of the buyers are from Canada. “The Canadians are just running out of space, and affordable space at that, so it’s driving them across the border,” says Chris Branch, Oroville, Washington City Planner.

We are also seeing a lot of Canadian buyers in the Phoenix Areas. They are buying real estate in the areas that was hit hard by the real estate bubble. Cities like Maricopa where you can buy a brand new 2000 square feet home for less than $160,000. Most of these Canadian buyers that bought new homes in Maricopa are second homes or winter vacation homes. Canadian Investors buy their rentals in town, usually in established neighborhood in Phoenix because of low vacancy and higher rents.

The Canadian inquiries I get from my property management company usually purchased multiple homes and condominiums, they often ask for discount in Property Management fee. Our monthly rate is 9% of the rent but we discounted it to 7% if they have multiple rental homes. Phoenix Property Managers are in demand because of Canadian Real Estate Investors.

http://www.phoenixmetrorealty.com/propertymanagement.html