Entries Tagged 'Canadian Buyers in Arizona' ↓

I was showing property to another couple from Canada over the weekend.  Their target price was a home under $250,000 in Chandler. 

72 listings came up that matched their search criteria.  It was interesting to note however, that of those 72 listings, over 60 of them were either short sale or lender owned!

A short sale can take up to 3 months for a decision to be made by the lending institution if preliminary work on the short sale has not yet been completed by the seller. For that reason, my buyers had already decided they would not be interested in a Short Sale property as they needed to know while they were in town whether or not their offer had been accepted. 

They decided to check out some of the lender owned, which can sometimes take awhile for contract acceptance, but as they are in town for 2 weeks, they wanted to investigate this option. 

The outcome of this investigation was not good.  Most of the lender owned property needed considerable work.  Most had missing appliances…ie.  all the built-in appliances had been removed.  Some properties were even missing the light fixtures and ceiling fans and open wires hung from the places where those fixtures had been removed.

My buyers decided lender owned properties were not going to work for them either.

What did this mean?  We had less than 12 properties that would even make the short list to be viable for consideration.  Which homes made the short list?  Those that were the nicest and the best priced.

 So, the question of the day is…how many homes are TRULY on the market for an average out of town buyer (which, I might add, are many of today’s buyers).  It’s obviously not as many as the media would have you believe.  Granted, there are more short sale and lender owned homes in the lower price ranges as this is the price range many of the investors bought into a few years back.  But there are plenty of homes listed as short sale and lender owned in price ranges up to $500,000.

If you are average Joe Seller, have a beautiful home and are willing to price it to sell (and I don’t mean give it away…just listen to your Realtor’s advice), the opportunity is still great especially at this time of year.  3 of my listings went under contract this week.  2 of them had been on the market less than 2 weeks.  Homes ARE still selling.  Your’s will too.

For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite. Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountainscommunities of Pinetop/Lakes & Show Low.  Search the Arizona MLS.

I enjoyed my 1.20 minutes of fame today as I was interviewed by Sara Acevedo of Fox 10 News. (click to see the interview)

 The topic?  The Canadian buyers who are taking advantage of their strong Canadian Dollar and our weak real estate market.  There continue to be tremendous real estate deals in the Phoenix Metro area and Canadians are wisely snatching them up and paying cash. 

They are hitting the market at a perfect time as I have reported in my Weekly Real Estate Market Update, there has been increased buyer activity in almost every East Valley community over the last couple weeks.  If this activity continues, we will begin to chip away at our inventory which will help us return to a more stable real estate market. 

_____________________

For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite. Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low.  Search the Arizona MLS 

My list of Canadian buyers coming to Chandler to buy a home continues to grow as our inventory of homes in Chandler continues to grow as well. 

Why Chandler you might ask?  Chandler is close enough to the airport but far enough to be out of the congestion of Phoenix.  Chandler is new enough and the Canadians I am working with definitely want newer.  Homes and townhomes preferably built after 2000.  An abundance of golf courses and lakes also make the area inviting.

Close to amenities including brand new shopping centers, movie theaters and an abundance of new restaurants, from fast food to gourmet.  Chandler is fitting the bill for our Canadian buyers.

Canadians are doing their homework before they arrive.  I’m researching and narrowing their choices months before their plane lands.  They arrive, usually with cash in hand and sellers including builders and condo conversion developers are happy to further discount their already heavily discounted properties.

My Edmonton buyers last weekend opted for a condo conversion in Chandler which came with a hefty discount on top of a discount.  Their purchase came after looking at properties in Mesa, Gilbert, Ahwatukke and as far east as Queen Creek.  A home in Queen Creek on the golf course and priced at $200,000 for 2000 square feet was a close second.  I was told a similar home in Edmonton would sell for close to 1 million dollars.  It’s easy to see why our homes are so attractive.   Imagine travelling just a few hours in a plane to a place where you could buy a million dollar home for $200,000…sign me up!

It’s not just our attractively priced homes that are enticing to our Canadian neighbors.  Our cost of living is substantially lower.  2 Buck Chuck is known as 12 Buck Chuck in Canada.  From wine to clothing, the strong Canadian Dollar is providing a great opportunity for an affordable Phoenix vacation.  Add to that the affordable airfare…it’s really a no-brainer. 

Canadian’s are catching our housing market at a low and hoping to realize a nice profit when our market turns around…which it historically has always done.

I thought I might be seeing a decline in the number of Canadian buyers who have been contacting me, but quite the opposite.  Word seems to be spreading.  It’s good news for Sellers in the Valley.  Tomorrow a Canadian buyer may be looking at your home too!

_______________________________

For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor in Chandler, Arizona. Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low.  Search the Arizona MLS