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A "bank foreclosure sale" sign is posted in front of townhomes in Los Angeles, Calif. U.S. banks repossessed homes at a near-record pace to drive up July foreclosures.

Kevork Djansezian/Getty Images

The combination of drastically reduced home prices, Canadian currency prices near an all-time high relative to the U.S. dollar, and low financing options has many Canadians thinking about buying U.S. real estate.

Opportunities will always exist in real estate; however, most professionals believe that the window of opportunity that currently exists may be short-lived.

Words like "short sales" and "foreclosures" have become synonymous with "great deals." However, there are differences between these types of sales and many different ways to buy U.S. property. Also, the rules vary from state to state. t's important to do your research before investing to avoid costly mistakes.

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Dale Walters, a cross-border certified financial planner and author of Buying Real Estate in the U.S.: The Concise Guide for Canadians, was here for a discussion about the opportunities that exist for real estate investors. For a transcript, click on the box below. Mobile users can read the discussion here.



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