Canadians Flocking to Phoenix HOA Management Communities
One of Canada’s leading newspapers featured an article over the weekend that basically encouraged Canadians to buy real estate in Arizona.
The Globe and Mail article was about how Canadians are a driving force behind investments in the United States housing market right now. After citing stats that show Florida is the number one market for these investments, the writers of the article then turn their attention to Arizona and build a case about how Arizona is not only an increasingly popular destination for Canadian investments but also a great deal.
The article talks about how “prices appear almost absurdly low” for homes in Arizona. They quote someone watching the trend of Canadians buying properties in Arizona who says the typical purchase is a $200,000 home in a nice neighborhood or resort community where the Canadian buyer can spend part of his/her winter.
Buying a rental property is another topic covered in the long article. It says that finding renters in the Phoenix area is easy and that rental properties seem to be a great investment.
The reason we bring this article up is that it shows some of the momentum that the Arizona real estate market is experiencing once again with investors and out-of-state, and in this case, international buyers. If this trend continues we expect to see fewer empty homes in Phoenix HOA Management communities which will lead to stronger neighborhoods.
Some of you may already be witnessing this trend in your community. The foreclosure and short-sell explosion has been terrible news to Phoenix HOA Management communities as they’ve watched properties become abandoned and neglected over the last few years. We’re optimistic this trend is changing and this article in a well-known Canadian newspaper is further proof that things are getting better.
To learn more about Spectrum Association Management call our office in the East Valley at 480-719-4524.
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