As Canadians continue to purchase U.S. real estate in Arizona for investing into condominiums, second homes or winter getaways, we are seeing wonderful payback!!
Phoenix Arizona has many investment opportunities for Canadians who desire the warm climate and active lifestyle that this area offers.
There are many foreclosures in the Arizona housing market. Local Canadian investors who are looking to get into the U.S. real estate foreclosure investment market are looking to take advantage of the affordable homes while flipping them and selling them for huge profits.
California used to lead the U.S. real estate market with the largest rate of out of state buyers, however the out of state buyers are flocking to Arizona.
BUT GET THIS!! Canadians are taking over the home buying industry by pouring their Canadian dollars into the Arizona area in cities such as Phoenix, Scottsdale and many other places that appeal to Canadian investors. A quater of the people who purchased homes last month in Phoenix Arizona weren’t even from Arizona! Canadian investors looking for their winter getaways or their dream homes are taking advantage of the low cost properties, which Arizona offers. U.S. real estate realty companies have recognized the rise of Canadian investors and have joined the cause in catering to these investors while offering them more for their money with real estate investments.
One important benefit for Canadian’s investing in U.S. real estate in Arizona is the long-term benefits.
Canadians become tired of dealing with the harsh winters in Canada while opting for warmer climates in Arizona. There are numerous banks and investors willing to offer financing to Canadians and with low down payments.
Canadians investors would be crazy no to take advantage of the low mortgage rates and low U.S. real estate costs! Home mortgages are currently being offered as low as 3.8% on thirty-year mortgages! Of course credit rules do apply, but Canadians are proving they are worthy of being approved for US mortgages and they are applying for them faster than ever!!