BuzzBuzzHome Corp.
March 29, 2010

Have any extra cash to spare?

Looking to take advantage of the strong Canadian dollar?

Maybe you should be heading down to Florida…. or, maybe Florida Realtors are taking advantage of Canadians?

According to Reuters:

Hard-hit realtors in Florida are welcoming a side-effect of the Canadian dollar’s recent rally: more Canadians buying houses in the Sunshine State.

“House prices in the seaside town of Naples have dropped more than 64 percent from their peak in the second quarter of 2006, according to the Federal Reserve. But realtors say they are beginning to see signs of stabilization, thanks in part to Canadian buyers.”

How much buying is actually going on in Florida from Canada? According to the National Association of Realtors, in the Reuters article, “Canada was the top country of origin for foreign buyers in the United States last year, and more than a third of those Canadians bought real estate in Florida.”

So… Is now a good time to buy in Florida? Who knows… but, between foreclosures and the fact that locals aren’t buying in Florida, maybe Realtors are just trying to sell overpriced junk to Canadians? What do you think????

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