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Canadians still buying in Arizona despite price hike

SCOTTSDALE, Ariz. -- Higher real estate prices aren't stopping Canadians from buying Arizona properties.

Demand has sent the housing prices higher, and that means that both Canadians and Americans have missed the boat when it comes to buying at the lowest price.

However, Diane Brennan of KTAR's "That Real Estate Show" said Canadians can still find bargains here.

"With the Canadian dollar so strong, even though prices have increased in the Phoenix metro area, there's still fantastic deals compared to what Canadians can buy for in Canada," she said.

Brennan specializes in dealing with buyers from north of the border.

"I'm advising them to continue to buy," she said. "There's still great deals here. You can't buy condos for $100,000 in Canada. It's still very cheap here. There's a lot of investors that are purchasing. There's a lot of 30-year-olds who are purchasing their retirement homes because things are so cheap here."

Valley real estate expert Dean Wegner said the buying frenzy of the past few months has leveled off.

"Right now, it's not as much as it was during the summer, when you were getting 30 offers on the first day," he said. "But homes are selling in the first week that they're on the market. You're still seeing multiple offers, but the bidding wars and the craziness has definitely leveled off."

But something else has changed.

"We're seeing a better appraisal environment," Wegner said. "Whereas in the summer, nine out of 10 deals wouldn't appraise. Now, nine out of 10 deals are appraising."

About the Author


Years with the company: I started on January 2, 2006.

Education: I was born in San Antonio, Texas, but we moved to Phoenix when I was one-year-old in 1957. I grew up here and graduated from Alhambra High School and attended Phoenix College.

Family: I live in north Phoenix with my wife Rene' and my son Devin.

Favorite food: Lots of favorite food, but our favorite restaurant is Fajitas.

Favorite spot in Arizona: The Little America Hotel in Flagstaff.

Favorite news memory: We have to go back to October 15, 1979. I was a country music air personality at KROP Radio in Brawley, California, when we had a 6.7 earthquake. Thankfully, there were no deaths and only minor injuries, but the entire community was pretty freaked out and listening to the station on their transistor radios. I would not want to go through an earthquake again, but it sure was a great night to work in radio and see how it can make a difference in people's lives.

First job: Working as a stringer for 'The Arizona Republic' at high school football games. My first real job was flipping burgers at the old Sandy's Hamburgers at 51st Avenue and Indian School Road. My first radio job was as announcer at KALJ radio in Yuma in 1977.

First concert: My Dad took me to see Jimmy Dean at the Arizona State Fairgrounds in the 1960's. It was before the Coliseum was built. The only thing I remember is Jimmy Dean singing his big hit "Big Bad John."

Favorite sports team: Phoenix Roadrunners minor league hockey. My dad took me to a game when I was in grade school, and I was hooked. I wanted to be a radio hockey play-by-play man. I used to take my cassette recorder and sit up in the rafters of the Coliseum and do play-by-play. It was great later in life to also take my son to Roadrunners games. Too bad the team just folded, I'll miss them. (Going to the Coyotes is fun, but they're not "my" team.)

Outside interests: My family and I are active in our church - Shiloh Community Church in Phoenix. Devin is a high school student at Scottsdale Christian Academy. He plays on the baseball, football, and basketball teams and sings in the choir. Obviously, we keep busy trying to go to all his events! We enjoy going to movies, sporting events, and long road trips. We like to vacation at the Beach Cottages in the Pacific Beach area of San Diego. And I love to play catch, basketball, football with my son.

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