Canadian Buyers: Watch the Widget

Jonathan Dalton, Phoenix Real Estate AgentThere’s always time.

If we don’t buy now, we always can do it next year (or next millenium.)

We’re waiting for the market to hit bottom.

If you’re north of the border and have heard yourself uttering any of these phrases, I invite you to take a look at the widget in the left sidebar for representative exchange rates. As I write this, the Canadian dollar is running at 97 cents to the American dollar.

What does this mean? It means the $200,000 home you might have been looking a week or so ago is going to cost you $206,000. And I almost can guarantee you the value of the property hasn’t decreased three percent in 10 to 14 days to balance the equation.

Purchasing power is your weapon but it’s not an eternal one. History is not on your side in the balance between Canadian and American dollars.

Relatively low prices. Relatively high inventory. Relatively strong exchange rates.

Purchasing a second home or vacation home isn’t for everyone but if you’re in the position to make the plunge, there may not be a better time. Unless you want to gamble that the widget will move violently in you favor once again, that any economic problems here in the U.S. and around the world will not invade Canada.

[tags]Phoenix real estate, Canadian buyers, real estate investment[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

0 Comments

  • KimWood 10 years ago

    I wondered why you were writing about Canadian Buyers – ahhhh Phoenix = a great place for a vacation or second home!!! And your are Da Agent to help!

  • Jonathan Dalton 10 years ago

    I certainly try, Kim. 🙂

  • MarkH 10 years ago

    Actually Jonathan, your widget suffers from some severe lag time… as of the the last couple days, the CDN $ has made some huge gains and is currently hovering around $1.02. That 5 cent swing is huuuuge so you may want to go somewhere else besides Russia for your exchange ‘widgetry’.

  • Jonathan Dalton 10 years ago

    That’s good to know, Mark … now let me back-date this post five days …

    I was unaware of the lag and currently will find me a new widget.

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