You may have heard that the recent real estate crash affected some areas more severely than in others. This has been particularly true in three states. California, Florida, and Arizona have all seen record numbers of foreclosures and failed home sales than any other jurisdiction on the continent. What's more, house prices have fallen dramatically in Fort Lauderdale, Orange County, and Tempe.

While that's not good news for anyone who needs to sell a home in these states, it can be great news for anyone who is still thinking about buying in these areas. The weather and infrastructure of the hardest hit states still offer the most compelling reasons to buy. Many people owning Toronto townhouses and other pieces of property in colder regions are thinking about purchasing vacation real estate in the sunny south.

In order to make sure you are getting a truly great deal, though, it can be worth it to look at prices from other areas. Is the market in Tempe in favor of buyers as much as the hype would indicate?

Well, let's start with your typical single family detached dwelling. Normally not the type of place one would consider as a vacation home, these types of houses do have their benefits. In Tempe, those include 330 days of sun every year, and easy access to the recreational outdoors person's dream landscape. Not to mention, there is room for a whole family!

So, how does real estate here on such a dwelling stack up to other places? Well, taking a look at the average Newmarket homes, there really is no comparison. If you can afford to pay the average sale price of just under $2 million for a house in this Toronto neighborhood, you will definitely find a Tempe vacation home affordable. The average price here is just slightly over $200,000, for comparable properties. That's something you almost have to see to believe!

Of course, Toronto real estate is a bit of an aberration from the Canadian norm. What if you are looking to sell some Edmonton real estate and relocate to the sunny south of Tempe for your retirement?

Well, the total difference won't be as extreme as it would if you were selling a Toronto home, but you will likely be delighted with the exchange nonetheless. On average, homes that are part of the medium sized city picture such as those on the Burlington and Oakville Ontario real estate market will sell for $100,000 or more than the average Tempe home. Again, that means significant savings when you buy to the south.

Finally, for those in love with their Etobicoke condo, Tempe offers state of the art modern urban living. You can find equally well appointed units here, but again at much less than the cost of a northern home.