Harsh winter has snowbirds seeking warmth
More direct flights from WestJet
Strong Canadian housing market
Valley home prices often offer extraordinary value
Insurance fees, other costs lower than East Coast
First-time buyers purchasing before Bank of Canada raises interest rates
Investment properties provide rental income
Potential increase in local vacation rental rates
A search by the Palm Springs Regional Association of Realtors staff showed 1,329 Canadian buyers and another 98 purchasers from other countries acquired homes or condos over the past year, based on a tally of those who registered international addresses.
San Diego-based DataQuick Information Systems noted cash purchases accounted for 30.5 percent of home sales in Southern California last month, up from a 10-month average of 13.3 percent. Absentee buyers — mostly of second-home purchasers and investors — bought 26percent of homes, DataQuick reported.
But Canadians would be wise to fully understand the many concerns they face when buying real estate in the US relative to the tax consequences and proper structuring of the purchase to maximize tax benefits.
Buying Real Estate in the US is an essential guide for any Canadian considering buying real estate in the US. The author, Dale Walters, is President and CEO of Cross Border Tax & Accounting, a wholly owned subsidiary of Keats, Connelly and Associates. Mr. Walters is a CPA and has earned the Certified Financial Planner™ designation in both the US and Canada. Keats, Connelly and Associates is the largest cross-border wealth management firm in North America that specializes in assisting Canadians and Americans to fully realize and enjoy their vision of an outstanding cross-border lifestyle. The firm works with clients to convert challenging obstacles of moving across the border into excellent opportunities. Cross Border Tax & Accounting is a full service cross-border tax, financial planning and investment management firm.
Dale Walters recently sat down for an interview with The Globe and Mail, one of Canada’s top national newspapers where he answered questions from readers. Here is the link to my “Calgary-Palm Springs Area Real Estate Connection” Group on Linkedin.com in which the interview was also posted:
http://linkd.in/jY5D86
Please click on this link for more information about the book: buyingrealestateintheus.com
Buying Real Estate in the US covers the following:
- Challenges and opportunities
- Various ways to own real estate in the US
- Pros and cons of the various ownership methods
- Income tax implications and savings
- Income tax and other filing requirements
- Nonresident US estate tax and why it is usually not a problem
- US probate and ways to avoid it
- Financing options
- Resources for buying real estate
LISTINGBOOK IS THE ANSWER FOR KEEPING APPRISED OF PALM SPRINGS AREA REAL ESTATE!
One of the best ways to track Palm Springs desert cities real estate is to sign on for a free Listingbook account: www.palmspringsgreathomes.info. You can learn all about the benefits of this great resource by clicking this link to our recent blogpost about it!
Posted via email from Love of the Desert’s Posterous
