Cash Deals On The Rise

Cash Deals On The Rise

Now here’s a news article that caught my attention: All-cash deals hit a record 43% of home sales during the first three months of 2014, according to RealtyTrac. 

If you have been fortunate enough, as I have, to have brokered some of these deals, you might be asking yourself, why the switch to cash?  They go on to point out the stricter lending standards making it difficult for some buyers to get a mortgage and a buyer who has the cash wants to appear more attractive to sellers.

The average home price for cash buyers was around $207,000. They were usually foreclosed/distressed homes which usually fall below market value. To read the complete article, go to: http://money.cnn.com/2014/05/08/real_estate/cash-home-sales/index.html   


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Phone: 919-830-5233
Dated: May 8th 2014
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