Regardless of the economic environment, the real estate market of South Florida never ceases to be dynamic. Immediately past the crisis of bad mortgages (subprime) and the recession that hit America, property prices began to rise . This is because in Florida there is always a part of the international clientele that is attracted to this environment for investment.
Canadians cooled by the depreciation of their currency may continue to invest.Canada's major banks operating in Florida offer different financial products for the Snowbirds to use their assets and income in Canada to ensure a mortgage in US dollars.
This formula is particularly advantageous for those considering putting their new purchase for rent. The yearly rental market is particularly active with the incessant population growth Sunshine State.
When looking carefully, especially with the help of a realtor, there are some very interesting properties constituting investment. Personal bankruptcies still exist and there are condos, townhomes and single family homes that are available at attractive prices.
The buyer must be ready to seize an opportunity without delay. A pre-approved mortgage the bank will provide him an advantage over other buyers. As the Americans say: "Cash is King".
It's time to sell for Snowbirds
Canadians who wish to sell their property are benefited by the relative weakness of the loonie. A US $ 150,000 sold property is worth more than $ 175,000 to the Canadian seller. The exchange rate becomes a gain of nearly 25%.
Buy or sell a property in the counties of Broward, Palm Beach and Miami-Dade is a delicate transaction. The laws of the state of Florida, the regulations of those counties and municipalities, building codes, legal constraints may become obstacles.
A realtor serious and well established in South Florida can minimize the risks of a complex transaction. It saves time, hassle and money to the buyer as the seller.