Calgary - US real estate prices seems soaring to its record, making Canadians to have their eyes on the US properties. This year in the month of June, the prices of single family homes dropped such that the median selling price for a single family home was dropped to $110,000.
A Canadian bought a single family home for $130,000 a year ago, which was worth $300,000 sometime. And at the meantime, the same Canadian managed to snap up the second property too.
When you see this, you believe it to be true and looking for that too.
Former Canadian Diane Olson, who owns a Phoenix real estate firm, sells the property exclusively to the Canadians. According to Olson, the people get shocked and feel happy when they get to know the prices of their purchases. When people come in and says they are able to spend this much, and we tell them to contact their friends or family and they end up coming back and buying a home at the $150, $200 range and they’re actually shocked and happy with what they’re purchasing.
As many Americans are able to pay the rents, so it would also be lucrative to purchase a purely rental property too. But most are still not qualified for a mortgage to own the property.
According to analysts, many investors having their eyes on the US property to invest on as the property ranges are in its drop. But it could be another challenge for the Canadian as most American banks and lenders do not approve the Canadians still.
Gerry Bray from Brayco Financial Inc. says, it could be a reason that the Canadians are looking for their real estate investment in order to re-finance, and get the cash back to own the property in US.
According to Bray, most people with a home that has some equity in it can re-finance their house here and pay cash for a U.S. property.
There is risk with any investment, but with little good research the dream of owning the southern property, which is being counted for rich people, could be a reality.
Before doing an investment in order to take advantage of the deal, one should determine the ability to spend. And to make it real, have a potential realtor who can have a better deal for you.
Have a trip to the home yourself, once you found such. Investing into the private and foreclosure sales won’t be a bad idea, avoiding short sales.
A Canadian bought a single family home for $130,000 a year ago, which was worth $300,000 sometime. And at the meantime, the same Canadian managed to snap up the second property too.
When you see this, you believe it to be true and looking for that too.
Former Canadian Diane Olson, who owns a Phoenix real estate firm, sells the property exclusively to the Canadians. According to Olson, the people get shocked and feel happy when they get to know the prices of their purchases. When people come in and says they are able to spend this much, and we tell them to contact their friends or family and they end up coming back and buying a home at the $150, $200 range and they’re actually shocked and happy with what they’re purchasing.
As many Americans are able to pay the rents, so it would also be lucrative to purchase a purely rental property too. But most are still not qualified for a mortgage to own the property.
According to analysts, many investors having their eyes on the US property to invest on as the property ranges are in its drop. But it could be another challenge for the Canadian as most American banks and lenders do not approve the Canadians still.
Gerry Bray from Brayco Financial Inc. says, it could be a reason that the Canadians are looking for their real estate investment in order to re-finance, and get the cash back to own the property in US.
According to Bray, most people with a home that has some equity in it can re-finance their house here and pay cash for a U.S. property.
There is risk with any investment, but with little good research the dream of owning the southern property, which is being counted for rich people, could be a reality.
Before doing an investment in order to take advantage of the deal, one should determine the ability to spend. And to make it real, have a potential realtor who can have a better deal for you.
Have a trip to the home yourself, once you found such. Investing into the private and foreclosure sales won’t be a bad idea, avoiding short sales.
