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.

Canadians buyers have flocked to the Fort Myers area this winter in great numbers.  Our team has worked with more Canadian buyers this season than any in recent memory.  Our low property prices, coupled with the strong Canadian dollar and crummy winter weather have been the key drivers in encouraging Canadians to buy a second home in Fort Myers this winter.

A recent article by Reuters titled Housing Market Attracting Bargain-hunters cited a Bank of Montreal study that one in five Canadians would consider buying U.S. property. The Fort Myers area is attractive to Canadians due to our tropical climate.  With average annual temperatures in the low 70s, their is a high-degree of certainty that it will be warm when you come to visit your 2nd home in Fort Myers.  This big difference vs. other locations further north in Florida that do not have as warm winters as we have.

If you have considered buying a second home in Florida, here is a book available on Amazon that may be helpful to Canadian buyers:

See larger image South of 49: The Canadian Guide to Buying Residential Real Estate in the United States (Hardcover) By (author) Philip McKernan, Dan Sampson, Mike Cunning List Price: $34.95 USD New From: $19.20 In Stock Used from: $18.94 In Stock

The Fort Myers market on Florida’s southwest coast is very popular with Canadian second home buyers.  Our climate is tropical, so chances are you are going to experience warm weather throughout your winter visit.  The beaches of Southwest Florida are beautiful and a magnet for young and old alike.

We are continuing to see heavy user traffic on our Fort Myers real estate website from Canadian users.  Last month seven percent of our website visitors were from Canada. Our team is experienced in handling the intricacies of a Canadian buyer transaction.  Here is a great resource to start your search for a second home in the Fort Myers area.

Canadians are drawn to the Fort Myers area for our average annual temperatures of 72 F, our year round golfing and our Gulf coastline.  The Southwest Florida market downturn has reduced home prices in many upscale communities to a level of unprecedented affordability. Buying a Fort Myers foreclosure property from a bank is an approach many Canadians are taking to get the absolute best deal.

If you are considering a real estate investment in Southwest Florida, it is important to understand all the costs involved with both the transaction itself as well carry costs after you own the property.  A  Montreal Gazette column titled, Is it time to bottom fish for real estate in the U.S.? discusses these issues and is a must read for any Canadian considering an investment in Southwest Florida.

With the Loonie at parity with the US Dollar and across the board price reductions, many Canadians are now considering an investment in Southwest Florida real estate.  The Canadian Press reports that the currency equality is very enticing but shouldn’t be the key driver in your decision to buy real estate in Florida.  Some of the drivers that should be considered include lifestyle goals and investment expectations.

An investment by a Canadian in Florida real estate is certainly a decision that should not be rushed into.  It can be most helpful to visit or rent in a community prior to making the decision to buy.  Our team is hearing from many Canadians who have previously taken this approach and are now considering a purchase primarily due to the significant price reductions on much of the real estate inventory in Southwest Florida.  Popular areas for Canadian buyers include Fort Myers, Fort Myers Beach and Estero.

Estero, with its location close to Naples and the beautiful Estero Island beaches, is a Southwest Florida community popular with foreign buyers.

The Star provides a how to guide for Canadians interested in buying distressed Florida real estate.

The Fort Myers area is popular with Canadian buyers.  Right now, Fort Myers foreclosures and Cape Coral foreclosures are selling at highly discounted prices.  With the strong Canadian Dollar, the opportunity to invest in Florida real estate has never been better.

The fall is a great time for Canadians to visit Southwest Florida before the winter tourist season kicks in.  Low airfares and hotel rates provide the perfect environment for finding a place to call your own in Southwest Florida.

With lows of -5°F predicted for this week in Montreal and 0°F in Toronto, it is certainly not hard to understand the draw of tropical Southwest Florida. Our temperatures average 75°F with approximately 264 days of sunshine a year.

We really like working with Canadian buyers and hope you will use our Greater Fort Myers website to better quaint yourself with the market before coming down. Although the Loonie isn’t as strong vs. the Dollar as last year, the price reductions still make buying in Florida an attractive proposition.

This growing presence is playing out in cyberspace, as analytics for our heavily visited sister site Greater Fort Myers Real Estate show that over half of our international traffic is from Canada. Additionally, about every twelfth site visitor is from Canada. Canadian cities with the most visitiors to our site are: Toronto; Hamilton, Ottawa; Winnipeg and Ettobicoke.

According to a recent article about Canadian buyers in the Financial Post, Florida is the top US destination for Canadian buyers. Additionally, 50% of the purchases in the US by Canadians are condos.

A hearty welcome to our friends north of the border, we hope you find your own place in the tropical paradise of Southwest Florida.

Loonies find a second home in U.S. real estate [Financial Post]