It is Friday and three days since my return from an awesome real estate seminar in Seattle this week.
I had the chance to network with some great american Realtors and get the low down on what has been happening in the US, where it is now, and what the future is looking like. I have some interesting things to report.
The impact of the financial meltdown has been felt enormously throughout the country and it looks like 2011 for the most part will be a continuation of that. The year will be filled with more foreclosures and quick sales as the last of the fallout is processed. But the economy is starting to recover slowly and 2012 will see the beginning of fresh and renewed optimism. Even so, some people reported that 2010 was their best year ever.
So what does this mean for the Canadian Investor?
As with most cyclical events, it seems that the slump and recovery periods usually produce the most millionaires who can see opportunity and are willing to act wisely. And it appears that Canadians have been taking advantage of the real estate opportunities to be had in these challenging times. From March 2009 - March 2010 as Canadians, we invested $9.5 billion in US real estate. That is a very big number. As soon as I digested the figures, I asked why?
It appears that Canadian investors have recognized an amazing opportunity to buy up US property while it still remains at rock bottom prices. And there are still plenty of bargains to be had. It's all about knowing where and when really. The advice I am getting is this: if you have the cash, get it into US realty and sit on it until the economy has fully recovered. And it will!
If you are interested in pursuing some investment opportunities in the US and would like to be referred to an experienced US Realtor on my network, feel free to contact me anytime and lets see what you can achieve.
