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Canadian Investors Optimistic About Arizona Investment Property!

by Jason Archer

There is a bunch of negative data out there about the state of the U.S. economy, which is appropriate considering that over the past 3 years we have suffered one of the worse recessions in history.  However, successful people find opportunities in any market.  This market is no different.  There are many opportunities in Arizona investment property.  A recent article in Canadian Business magazine, “Investing Guide 2011: At home in America“, highlights some great points about the opportunities that exist in buying not only Arizona investment property but property in several other areas of the U.S.

The first hurdle is determining where to buy. Arizona, Nevada and Florida traditionally attract a lot of Canadians. In fact, Canadians are the No. 1 foreign buyers in Arizona. This is in large part due to the fact that the state is warm year–round, and real estate is dirt cheap. Phoenix was one of the hardest–hit cities during the crash, with single–family home prices down 53% from their 2006 peak, according to the S&P/Case–Shiller Home Price Index. A three–bedroom home in decent condition can sell for as little as US$75,000 in Phoenix today.

“If you’re prepared to hold on to a property for over five years, I don’t think you have any risk on the price side because they’re so cheap right now,” says Arnold Porter of Arizona for Canadians, a company that assists Canuck buyers. Porter, a Canadian who co–founded the company with his wife in 2007, argues that demographic trends actually favor Arizona down the road. Between 2000 and 2009, Arizona was second behind Nevada in terms of population growth in the U.S., and Porter believes retirees will continue to flock to the sun–drenched state. Unemployment, while still high at 9.7%, is lower in Arizona than in other Sun Belt states, and the home–price–to–income ratio has returned to its pre–boom level.

Canadian investors will continue to see opportunities with real estate in Arizona.  Learn more about how you can profit from Arizona investment property.

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