For the past 16 months, Maricopa County, Arizona has gotten a new No. 1 source of homebuyers: Canadians. Historically, the main point of departure for people moving into Arizona was California. The incoming were either job seekers, retirees or folks cashing out of their expensive residences in places like Los Angeles, San Diego and Orange County and moving to Phoenix, Scottsdale and Mesa where homes were half the price of where they left.
The top foreign buyers for U.S. homes over the past three years, reported NAR, have been Canadians. Unlike buyers from other foreign countries who often seek out expensive, high end properties, the Canadians tend to buy homes "more toward the $200,000 range, which is why so many are looking at the Phoenix area right now. Due to the housing meltdown, there's plenty of beautiful homes for sale really cheap that Canadians love.
Canadian buyers generally come from the big cities such as Vancouver, Calgary or Toronto, where homes are very expensive, so to buy a vacation home in Arizona at a price tag of $100,000 to $200,000 is a steal. Additionally, Canadians are buying because the Canadian dollar has strengthened and is now about at par with the U.S dollar.
If you are a Canadian or other international buyer looking to purchase in sun drenched Arizona, the professionals at Artisan Real Estate Group can help. Our company is skilled at walking you through the steps to buy real estate outside of your home country. We can help with property management if you are an investor looking for buy and hold investment property. We also have access to hundreds of new foreclosures that go to sale daily at the courthouse steps and can help you buy a 2nd home or investment home for 20%-30% under market.
Contact the professionals at
Artisan Real Estate Group today!
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