Canada to Arizona Real Estate Info
Should I buy now? (Also known as, How long will these deals be available, and how long will the exchange rate be favorable?)
If I had a working crystal ball, I might be able to give you the answer to that. Unfortunately, there is no definitive answer. That decision depends on your specific situation and how you plan to use the property. The market over the past few years saw pricing being driven in part by foreclosures and distressed sales. In some parts of the market, prices were down around 50% from the peaks. The market hit the low point in 2010 and saw small chnages through 2012. Buyers, seeing this relative stability started buying in earnest in 2012 and the market has seen signiicant apprecation through 2013. Still, prices are wel below peak levels. If this will be a vacation home, winter residence, or long term investment, then it's definitely worth a look.
The recently passed down cycle came after a protracted decade long up cycle, capped of by a frenzied investor driven market in 2004-2005. The irrational exuberance displayed during this peak time created an unrealistic inflation in value. Investors stopped buying as prices increased, leaving the average buyer out of the market. The subsequent subprime crises further slowed the market. The current market is once again attracting the true investor, which is a good sign for the overall market.
Considering the overall economic outlook for the US, the recent favorable exchange rates for the Loonie are expected to last for a while.
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