Sunday, June 22, 2008

Canadians Eye Scottsdale 2nd Homes

It may be 110 in the shade in Scottsdale, Arizona in the summer but that is not stopping bargain-hunting Canadians from eyeballing second home residential properties in the area's renowned golf communities.How? Many shop the Web, others actually visit. Mike Weinberger, an agent for TeamFore, says his outfit has closed on 23 sales to Canadians, most of them from the western part of the country, since January. Reason: the dollar is down nearly 40 % compared to the Canadian dollar, a/k/a the Loonie. "The Canadians see this as a sweet spot," Weinberger told me. Buyers are principally looking for vacation homes, not investment properties or places they can flip he said. Prices: under $200,000 for a condo in the heart of town: $400,000 for a handsome single-family, such as the one shown above in Cactus Glen listed by Weinberger's colleague Diane Watson.

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