Back in 2011 the Arizona real estate market reached its bottom, arriving at its lowest price point following the 2008 crash. At the same time, the Canadian dollar was seen trading as high as $1.05 in relation to the US dollar. It was an amazing buying opportunity for Canadians and many of you were smart enough to scoop up a property or two. Times have changed however, and just as 2011 was a fantastic buying opportunity for Canadians, 2016 has become a spectacular selling opportunity for Canadians.
The exchange rate (see chart) is constantly fluctuating, but as of June 2016, every $100,000 of US sale price was equaling approximately $128,000 in Canadian dollars.
If you are interested in selling your Arizona property call me at 602-579-3393 and I will walk you through the process. I have worked with many Canadian clients over the years and have a comprehensive understanding of the elements involved in a smooth cross-border transaction. I will negotiate the best price for the sale and assure that all T’s are crossed and I’s dotted as all essential paperwork and disclosures are properly executed.
I will also recommend that you speak to a tax professional regarding the tax implications of your sale. The following link will take you to an article pointing out the importance of consulting a professional tax advisory service: Cross Border Tax Accounting.
As you learned through the process of purchasing your Arizona home, real estate transactions in Arizona rely on the support services of Title and Escrow companies. Please rest assured that I will always recommend Title experts who I know to be thoroughly competent in the area of US-Canadian real estate transactions.
Please call me at 602-579-3393 or email me at [email protected] to get your Arizona investment sold for a great Canadian return!