Real Estate in Sunbelt Heats Up
I was in Florida last week and while temperature-wise it was quite chilly, the housing market is heating up for Canadians looking for bargains-in some cases half-price-on real estate.
Experts are saying that it’s never been a better time to purchase real estate in the Sunbelt. According to the U.S.-based National Association of Realtors, in 2009 Canucks were the number one purchasers of foreign property in the United States. Some condos are going for half their peak value, comparable to the cost of a downtown Toronto parking spot.
Like any major purchase, buyers need to keep their emotions in check. Extra expenses such as condo maintenance fees and property taxes can make that inexpensive purchase quite the opposite.
With historic low interest rates, lack of snow, no bidding wars, and a dollar near parity, it’s easy to see why Canadians have been seduced into buying property south of the border.
