Westworld Alberta
Issue link: http://westworldmagazine.ama.ab.ca/i/53603
municipality) of a home's purchase price. But what do you need to know before selecting your Arizona bolt-hole? "The biggest challenge was our inexperi- ence with the area, but also pre-planning and organizing all the paperwork," recalls Edmontonian Patricia Caffaro of buying her three-bedroom condo in central Scottsdale. Use a local realtor to navigate the balmy but unfamiliar landscape – particularly one familiar with the health of the homeowner's association (similar to a strata), if your pro- spective property is governed by one. Arizona-based realtor Bob Miller specializes in representing Canadian buy- ers in the greater Phoenix area. He says the main difference between buying in Arizona and buying in Canada is the escrow process. "In Canadian real estate transactions, you are represented by a lawyer, where here everything is done through title compa- nies," he says. Your realtor should be able to recommend a title company. If the property you're considering is a foreclosure or short sale (a pre-foreclosure sale by owner), you may have to work with a title company chosen by the bank. Foreclosures and short sales make up around half of the properties for sale in Arizona, and while there are some great deals, there are also caveats. Take the home's condition. In a traditional sale, buyers can request repairs, or compensation for repairs, if an inspection turns up, say, faulty wiring. But foreclosures and shorts sales are take-it- or-leave-it. "Most of them end up being as-is purchases," says Miller. TEXAS ■ Top spots: Gulf Coast, Houston, San Antonio. ■ Emerging areas: Hill Country, Austin. ■ Popular buys: single-family detached homes. ■ Sample prices: US$247,500 – 2-bedroom, 2-bathroom, 1,060 sq. ft. condo, South Padre Island (Gulf Coast region). US$220,000 – 3-bedroom, 2-bathroom, 2,174 sq. ft. detached house, Houston. ■ Crime: some inner-city issues; suburban areas generally safe. ■ Health care: top-notch clinics and research hospitals, especially in major cities. "If you're buying in an area like San Antonio, you can leave the snow shovel and windshield scraper at home," says Texas-based 22 WESTWORLD >> FEBRUARY 2012