The Canadian Dollar rose above par with the US Dollar today as investors cheered an agreement reached by European leaders on a plan to resolve the euro zone’s debt crisis.
The strengthened Canadian Dollar represents a five percent savings to Canadian buyers versus just 30-days ago when the loonie had tumbled as low as just 95 cents US.
The last time the loonie was at par, our sales of Palm Springs area properties to Canadian buyers increased substantially.
Luxury buyers do especially well when the loonie is at par. One luxury buyer exclaimed to me earlier this year when the loonie was above par, “We saved an additional $100,000 on our $2 million golf course home.”
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