Timing Is Now Right For Canadians To Sell Property

More and more Canadians who purchased U.S. homes cheap when money exchange rates favored them are now selling to take advantage of rising U.S. house prices, a plunging loonie and strong U.S. dollar. For investors, it's the old standard: Buy low and sell high.

Even with added costs such as a possible capital gains tax, many Canadians still come out far ahead. The exchange rate with the loonie is currently hovering around 71 American cents – a reversal from six years ago, when the loonie was around par with a U.S. dollar and 2011 when it equaled $1.05.

At the same time the loonie was strong, housing prices in much of the United States took a dive, triggered by the 2008 subprime mortgage meltdown and an economic boom gone bust.

Canadians, from snowbirds to investors, eagerly swooped into hot spots such as Arizona and Florida to buy a piece of sunny real estate at a low-low price. Canadian sales more than doubled from March 2011 to 2012 – to an estimated $15.9 billion – according to a National Association of REALTORS® survey.

Thanks to a strengthening economy, BMO economist Robert Kavcic calculates that U.S. housing prices in a number of markets have shot up between 30 percent and 50 percent.

In Florida, REALTOR® Garry Walmsley of Global Real Estate Services, who specializes in the representation of foreign national and out-of-state citizens when buying and selling Orlando area real estate, is among those agents seeing a surge of Canadians cashing out. When the loonie was stronger from 2009 to 2013, nearly all of his Canadian clients were buyers. Today, he says, almost 80 percent of them want to sell their residences.

For information regarding selling your property please contact Garry directly at (407) 923-2134


Garry Walmsley

The perfect blend of British personality and American drive, Garry brings his genuine, detailed and competitive approach to the World's #1 Vacation Destination. Born in Hampshire, Garry thrived in School and Sports, spending many of his younger years traveling around the golf courses of the United Kingdom prior to turning professional in 1989. After what he describes as a "less than desired outcome" for this results orientated individual, he turned to the Golf Industry where he learned many of the traits that he acknowledges in his success today. It was during this time that he made his move to Orlando, which he has called "home" since 2000. Garry believes that his clients are the most important part of his business. He knows that dealing with property means that he's really dealing with people. He combines a determination to fulfill their goals with the ability to hear what they say. The aim is always to develop long-term relationships and offer an honest and transparent real estate service to best serve the interests of those he represents. Garry has proven that his exceptional service and attention to each and every one of his clients is the recipe to his success. Working with Global Real Estate Services, a dynamic organization with a forward thinking outlook, Garry is able to provide his clients with a full-service Real Estate experience, safe in the knowledge that this company with a 21 year history, is the leader in Vacation Home Rentals, Management and Sales. Credentials; - Licensed REALTOR® - Member of National Association of REALTORS® - Member of Florida Association REALTORS® - Member of Orlando Regional REALTOR® Association