Thank You Homes Team Real Estate Blog

Local real estate news for the Phoenix Metro market: Home prices and trends in Phoenix, the West Side and across the valley. Written by Jim Caravello, Realtor, Team Leader/Owner of Thank You Homes Team with Realty One Group.

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Feb. 17, 2016

Canadians Selling Arizona Homes

Why are Canadians Selling Arizona homes?

Canadians selling Arizona homes makes perfect sense. Our friends up North are taking advantage of rising Arizona home prices and their side bet on foreign exchange rates.

OK bear with me, this is where it gets geeky! The first chart shows how far the Canadian Dollar has dropped, look at the last three years alone! This decline makes it more expensive for Canadians to buy homes in the states but more profitable to sell homes.

The second chart shows the US Dollar going up over the past few years. This combination has created huge price increases for Canadians when taking into consideration the foreign exchange rate. As of this writing $1 US Dollar is worth $1.37 in Canadian Dollars.

The red line in the third chart below shows how prices look to sellers in Canada, this is after exchanged for Canadian Dollars. The recent sharp increase compared to the grey line, US Dollar, puts prices near 2006 levels based on the Canadian Dollar. That's an incredible $60 per square foot difference compared to US Currency!

Chart below from The Cromford Report

Reason for Canadians Selling

Above, the red line represents prices based on Canadian Dollars. Buying with Canadian Dollars is not a great deal but selling and exchanging into Canadian Dollars is a great deal. Buyers between 2009 and 2013 are up big as the rise in Arizona real estate combined with the drop in the Canadian Dollar has created a huge profit for Canadians.

Don't forget, Canadians sell in US Dollars and convert to Canadian Dollars at a very favorable exchange rate. So not only do they profit from rising home prices but they win big by trading in the foreign currency markets! Not a bad deal eh!?

No guarantees can be made about the future direction of foreign currencies or the Arizona housing market. However, it's safe to say that if Canadians were looking for a time to sell, now would be a great time!

Please share this with your Canadian friends that own Arizona real estate and have them contact me for a free price analysis of their home.

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Jim Caravello, Realtor, GRI, ABR, rCRMS
Thank You Homes Team with Realty One Group

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Nov. 11, 2015

Thank You Veterans

Thank You to all the brave veterans for serving our country! To my Uncle Rudy and all Vietnam veterans, thank you!

We would not enjoy the freedoms we have today without the service of veterans including my grandfather who returned safely from WWII. He was a ball turret gunner on a B-24 Liberator and flew 26 missions, mostly over Germany in 1944.

World War IIImagine flying over Germany... strapped into a glass bubble under a B-24 bomber shooting 50 cal guns while taking flak, as other planes try to shoot you down...then come home and life is expected to be normal...

Imagine serving in Vietnam... fighting for your life in a jungle you don't know but your enemy does... then come home and life is expected to be normal...

Imagine patrolling the streets of Iraq... on edge as every local passes... not knowing if they're friend or foe... then come home and life is expected to be normal...

Not every veteran served overseas or in a war... but one thing every veteran did was serve... and for that I'm thankful!

If you're active military or a veteran looking to buy or sell a home we're here to serve you. The Thank You Homes Program gives back toward your closing costs so you have extra money to do as you wish! It's our way of thanking you for your service and doing our part in helping the veteran community. Click for Details!

Pictures of my grandfather in WWII with his B-24 Liberator

He's the short one, perfect fit for a ball turret gunner!

 Flying Wolves B-24 WWII

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Thank You Homes Team

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Jim Caravello, Realtor, GRI, ABR, rCRMS 
Thank You Homes Team with Realty One Group

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Oct. 15, 2015

Time to Plant Winter Rye Grass

It's that time again... time to plant rye grass seed in the Phoenix metro area for a lush green lawn this winter.

It's mid October and overnight temperatures are set to dip into the low 60's making this weekend a great time to seed your lawn. Are you looking for that lush green lawn throughout the winter?

Follow these simple steps to a perfect lawn.

  • Mow your lawn on the lowest setting and remove clippings.
  • I like to thatch the thicker areas so new seed can make contact with the dirt easier.
  • Spread rye grass seed in amounts specified on the seed packaging using a spreader.
  • Fertilize with a starter fertilizer before turning water on.
  • Add some mulch to help retain moisture and keep the birds from eating all the seeds.
  • Water is crucial! I have my timer set for 4 times a day, 5 minutes each time for the first 10 days and hit the dry spots with an old fashion sprinkler.
  • In 10 to 14 days water should be reduced to once per day until established, then once every other day, then reduce through winter.
  • I like to wait 15 to 20 days for my first mowing.
  • If you notice any bare spots make sure to fill in with more seed and keep moist.

This after picture taken only 15 days after planting and my first mowing.

Rye Grass


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Thank You Homes Team

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Jim Caravello, Realtor, GRI, ABR, rCRMS 
Thank You Homes Team with Realty One Group

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Posted in Home Maintenance