If you haven’t taken a long look at the exchange rate between the American and Canadian dollars, this would be a really good time to do so.
At today’s close, the Canadian dollar is sitting right around 87 cents. The rate you get your own bank may be a little worse (if you want to get a far more competitive rate than your local mark-to-the-market folks, contact me and I’ll get you in touch with folks who can save you a couple thousand) but it’s quite a bit better than the 78 cents or less you were seeing earlier this year.
- So now the question is … how serious are you about that purchase here?
- Inventory’s at two- to three-year lows.
- Sales are at three-year highs.
- Despite the above, prices remain at 2003-04 levels.
- And now the exchange rate’s better than it has been in months.
It’s been said more than once that Canadians love looking at homes and they even buy them every once in a while.
If you’re serious about that vacation home or investment property, the planets are aligning themselves in a pattern not seen in ages.
So it’s now in your court … if you’re just browsing, feel free to continue browsing. But if you are serious about buying, it might be worth checking in to see if it’s the right time for you.
[tags]Phoenix real estate[/tags]