Real Estate Bargains Draw Canadian Buyers

For the first time in a couple of years the Canadian dollar has surpassed the U.S. dollar in value, causing an influx of interest by our northern neighbors to purchase vacation property in the States -- or even income property and retirement homes.

"The interest in retirement homes isn't likely to wane any time soon," says broker Robert Pugh, an agent at Coldwell Banker Rhodes & Co. Brokerage in Ottawa, Ontario. As in the U.S., Canada's demographics are shifting due to the aging baby boomer population, he said in a national release. "Watch for a heightened interest in American property from Canadian buyers in the months ahead, especially in those sunshine destinations most favored by retiring Canadian 'snowbirds,' such as Arizona and Florida."

But is the Canadian invasion a good thing for U.S. homeowners?