Canadians Buying up Southwest Florida Homes
A couple of weeks ago, WINK, the local NBC affiliate contacted Dave for an interview on the question “Why are so many Canadians buying homes and condos in the Cape Coral – Fort Myers area?” Here is the transcript from the 5:00 news. Or view the video here.
LEE COUNTY: For years, many Canadians have come to Southwest Florida during the winter and rented a place to stay. With the decrease in home prices and strength of the Canadian dollar, Canadians are buying instead of renting. The Canadian Snowbird Association flew in to Harborside Convention Center Wednesday, for the first time in four years.
The group travels the country, helping Canadians settle into life in the US. Southwest Florida remains a top destination for seasonal residents and more recently, is becoming a haven for Canadian homebuyers.
“Some people are buying multiple properties while the getting is good,” said Chris of the Canadian Snowbird Association. After 20 years renting, Van and Barb Wight took the plunge and bought in Naples last year. “The price of the home came down about 30-percent,” said Van Wight. Ardy Barcley is also a recent gulf coast homebuyer. She told friends about the deals available. “A number of our friends came down and purchased in the same community we did,” said Barcley.
“Last year the exchange rate was one to one so they were buying like crazy,” said Dave Sage of Gulf Coast Realty, Inc. Canadian buyers have given sage a niche to cater to. “Of my deals over the past year, 50-percent or more are Canadians and this year probably 50-percent again,” said Sage.