Canadian Currency Exchange-Phoenix Real Estate

by Lavine Team on August 17, 2010

Currency Exchange-Phoenix Real Estate While there has been periods during 2009 through 2012 in which the CAD vs USD was at parity or even higher, the current 30 year average for the Loonie is 78 cents USD.

Once you decide to proceed with a purchase, it is the fluctuations while you are waiting for a sale to close on the purchase of your home that can drive you crazy. A change upward can get a buyer excited thinking that TV sets or dining room furniture for the new vacation home are paid for only to see the gains negated right before you wire the funds down to pay the balance.

For sellers that are cashing in on the currency exchange difference when selling, the waiting game until closing day can drive you crazy too.

Consider utilizing a foreign currency company or your bank to convert your money while you are waiting? It could be wise to convert $25000, $50000 or $100000 or more at a rate that you can live with rather than losing sleep worrying about it. Even if the rate goes a little higher after you converted a portion at least the rate didn’t go the other direction leaving you scrambling to make up the difference! It’s all about a comfort zone with how much you are willing to convert and how much to gamble on potential gains. A good currency exchange plan sure can reduce anxiety levels during this very exciting experience. And why pay your bank commissions that they want to earn on the exchange? I think it’s a great idea to compare what your bank is willing to charge you or give you with what a currency exchange company can do.

Click here to read an article from a currency exchange company about the potential benefits to you. We can recommend a couple of leading Canadian companies for you to work with…

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