It’s a great time for Canadians to be purchasing down here in AZ. The dollar is at par, many parts of Canada are experiencing an “AZ-like” boom, in terms of appreciating home values, and with alternative fuels and the energy sector creating jobs north of the border I have heard much buzz about the discretionary income being as high as 30-50K for these employees. That is probably why I was just reading an article called “Calgary is the new California.” Below you will find my checklist for Canadians looking to purchase here in Arizona. Also, just an FYI on TODAY’s pricing I can give a Canadian Citizen with NO U.S. Social Security # a 6.375% rate on a 30 yr fixed and no prepayment penalty. Please, Snowbirds feel free to contact me to discuss this further. I have the resources in place to make your Sunshine AZ Winters a reality and not just a Calgarians dream.

Canadian Client Checklist

For those who require financing:

****You do not need a US Social Security Number****

Requirements:

• Need a 700 Credit Score
• Minimum 20% down payment
• Canadian Passport or Visa
• Full Documentation ONLY (T4’s and T5’2 from the previous two years.)
• 2 months bank statement of Savings Account, 401K, Retirement, etc. (Anyone of these accounts will do.)
• For Self Employed Borrowers; 2 yrs full Tax Returns, current profit/loss and any certifications or licenses held.
• Verification of Canadian Mortgage History (if applicable)

Highlights:

• 30 yr fixed Mortgage paying both Principal & Interest
• NO Prepay Penalty
• No Social Security Number required
• Single Family Homes or Condos.
• Great Rates available


Scott McGrane
Senior Mortgage Planner and International Relocation Specialist
First Choice Financial Services/Radiant Financial Group
602-374-2312 ext 222-Office
781-367-2492-Mobile
602-374-2305-Fax
scott@firstchoicefinancialservices.com http://www.firstchoicefinancialservices.com coming soon

Tom,
Now is a great time for Canadians to look at the US for properties. With the weakening dollar you are getting a lot of bang for your Canadian "Buck". Check your laws on Health care, as I remember it you will need to spend less than 1/2 yr in the states to make sure you keep your benefits. I am probably not telling you anything you don’t know already.
What you may not know if you are looking at Arizona is that just north of Phoenix, 90 miles, is Prescott.
It is a great place to live and the climate is mild year round, we have pines. Take a look and let me know what you think.
Good luck and welcome to Arizona.

As a foreigner, you can buy property just as any citizen of the U.S. There may be some tax issues to consider-those can be answered by your tax professional. Should you wish to speak with someone familiar with Canadian investors, I can provide you some resources.

As a foreign property owner, the biggest tax issue comes into play when you sell your U.S. property. The FIRPTA (Foreign Investor Real Property Tax Act) is levied at time of sale. I am not sure about how it affects inheritance.

There are quite a few age-restricted communities in the Greater Tucson area, including Green Valley. Many of them have provisions to include the 45-54 segment in addition to those 55+. Each community has its own personality, like golf-themed, active adult, natural surroundings, etc. and price range...from the low- to mid-100's on up.

Many of these communities are offering some incredible incentives...especially on ready-to-move-in and soon to be completed homes. It is a good time to buy, especially while interest rates are good!

Should you desire some further information about the Tucson area, please feel free to call or email me.

Hello, I am with Shea Homes and Trilogy at Vistancia, an age restricted gated community in Peoria. Check out http://www.trilogyalberta.com or http://www.trilogylife.com for more specific information on the community and Shea Homes. Give me a call directly on my cell phone and I would be happy to help in any way I can. Anthony Siela 602-751-4997, or email me at anthony.siela@sheahomes.com

Hi, Tom ... I've written about this at length over on my regular blog at http://www.daltonsazhomes.com/blog:

http://blog.westbrookvillagerealestate.com/?p=64
http://www.daltonsazhomes.com/blog/11142007/solving-for-y-ca…
http://www.daltonsazhomes.com/blog/11192007/what-ive-learned…
http://www.daltonsazhomes.com/blog/11082007/foreclosure-prop…
http://www.daltonsazhomes.com/blog/10262007/second-inquiry-f…
http://www.daltonsazhomes.com/blog/10222007/helpful-sources-…
http://www.daltonsazhomes.com/blog/10222007/calgary-is-the-n…
http://www.daltonsazhomes.com/blog/10162007/take-off-to-the-…

Purchasing as a Canadian is a fairly straight-forward process. If you're financing there may be a larger down payment required than if you were in the States. Also, there may be different tax ramifications though it doesn't sound that there are major differences as best I've heard from my clients.

Having an agent that's experienced with long-distance purchases (and who knows to take off their shoes when they walk into a home) helps a great deal as much likely would be done while you're out of town. It also helps to work with someone who has a stable of specialists - termite inspectors, home inspectors, title folks - on whom they can rely on relatively short notice; my experience has been most Canadians are in town for 5 - 7 days or so searching, purchasing and getting inspections going.

Sun City's not an option for residence at this point as the minimum age is 55. Westbrook Village in nearby Peoria, however, offers both newer homes and an age limit at 40. You can find more about that area at http://www.westbrookvillagerealestate.com. There's also a primer on my Westbrook blog with the basics of purchasing in Arizona, which I've linked to below.

Good luck with your search!