Quote:
Originally Posted by porsche4life
Where are you hearing about all these cash buyers KC? .....
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Might have changed just a bit in recent months (I don't keep up with this stuff), but around a year ago, approx. 40% of all sales were "cash" (and I "think" that was the national average). For "this" market, my niece put her house up for sale recently to take a lucrative offer near Boston. "Cash" buyers lined up for their asking price (at 2005-6 values)...on the market for 3 days
. The "excess inventory" (forclosures, etc.) have virtually disappeared around here....all are "cash" purchases. This area was never "much" of a bubble, but the landscape has sure changed from just 4-5 years ago which is a good thing imo.
Sounds as if your area has recovered nicely too....good for you and good luck
!
I'm a novice, but do own 4 houses...3 were "cash deals" with no appraisals involved.
There really aren't many houses available near me in the 2-300K range and I'm in a very desirable area (schools, etc.). Plenty of folks moving here (and a LOT do), from other "high cost of living" areas have plenty of equity to cover that kind of purchase.