I recently spent some time in Phoenix, Arizona (holidays in the sun). While there, I checked out the real estate enviroment in the Phoenix area. One of the more popular areas for Canadian's is Sun City (which is on the North West corner of Pheonix.)
Prices there are much different than here in Saskatoon. Anyone living here who complains about a price drop will feel wonderful if he/she compares price changes here at home to those in the Pheonix area. Houses that sold for $260,000.00 in 2007 are now selling for $140,000. - $170,000. in the good areas. Houses in some working class areas have dropped to as low as $80,000.00. (This is for an 8-12 year old bungalow, 1300-1600 sq. ft., with a double attached garage.)
The real estate environment is varied in different parts of the US. Some areas are hit harder than others. They are still reeling from a tough economy while we are stablilizing and starting to see some upwards movement in the lower to medium priced homes. Overall, we are much better off here in Saskatchewan.
Canadians that have money are a major buying force in the Phoenix market.
I came home feeling good about things back here other than the weather. The thing that I noticed even more than the weather are the bumpy streets.
It's still great to be home and among friends and my clients (who have become my friends). Real estate is a great business to create friends for life.
Comments Welcome! To submit a comment, please click on the title above, scroll down the page & complete the form provided.