Once again the value of the Canadian dollar has skyrocketed. On February 28 it rose to almost 1.03 dollars U.S. This means Canadians will get more for their money when buying real estate in the U.S.
The Canadian Press reported that the closing value of 102.94 Canadian cents to the U.S. dollar is a three-year high. The Loonie is rarely worth more than the U.S. dollar Historically the Canadian dollar has typically been worth much less (eight years ago it was 62 cents.) So this is big news, and a win-win situation for both Canadians purchasing here and Arizona sellers.
Because of the relationship between the strength of Canadian currency to Canadian travel and investment, this should mean more Canucks will come to the Phoenix metropolitan area to buy real estate.
How many more Canadians could that be? Hopefully more than the 39.3 million trips made by Canadians to the U.S in 2009.
So Canadian buyers – what are you waiting for? Not only is the exchange rate favorable, the drop in our real estate values means that you will be able to buy in Phoenix/Scottsdale area at prices equal to that of 10 or more years ago.
If you think your home or property could benefit from marketing to the Canadian buyer, call or email me at mark@simplysoldaz.com. Let SimplySOLD Arizona’s international expertise help you, whether you are a Canadian buyer or an Arizona seller.
