The Montreal Gazette highlights the significant number of Canadians buying property right now in the State of Florida. In the 12-month period from mid-2010 to mid-2011, 10% of all homes sold in Florida were purchased by Canadians.
The Gazette highlights five regions in Florida that Canadians are concentrating their second home buying: Tampa-St. Petersburg-Clearwater; Miami-Fort Lauderdale-Miami Beach; Orlando-Kissimmee; Naples-Marco Island and Cape Coral-Fort Myers. Two thirds of all Canadian home purchases were in these five areas.
Over 90% of the Canadian home purchases were all cash and the median price of home purchased was $151,000. The Cape Coral-Fort Myers region was cited as a region to look for bargains, particularly if you are priced out of the Naples market.
Many of the very best deals are homes that have been foreclosed and now bank owned. Here is a resource that Canadian buyers can utilize to target Southwest Florida foreclosure listings.