Buyers Facing Less Competition From Cash Buyers

Buyers Facing Less Competition From Cash Buyers

The percentage of cash sales fell to 33 percent of total home sales in June, marking the lowest share since September 2008, CoreLogic reports. A year ago, cash sales stood at 36.3 percent of the market; they have been falling steadily since January 2013.

Historically, cash sales make up about 25 percent of total home sales, according to data prior to the housing crisis. In 2011, cash sales peaked at 46.2 percent of sales nationwide, CoreLogic reports.

Buyers are using cash mostly to purchase real estate–owned properties, or REOs. Fifty-five percent of REOs are all-cash transactions, followed by nearly 33 percent of resales, about 32 percent of short sales, and 16 percent of newly built homes.

The following states had the largest share of cash sales in June, according to CoreLogic:

  • Florida: 50.9%
  • Alabama: 48.1%
  • New York: 44.6%
  • Kentucky: 40.1%
  • Nevada: 40%

At a metro level, Cape Coral-Fort Myers, Fla., had the highest number of cash sales at 61.2 percent in June. On the other hand, Washington-Arlington-Alexandria, D.C.-Va.-Md. had the lowest share of cash sales at 15.6 percent, among the 100 metros tracked.

Source: “Cash Sales Accounted for One in Three Home Sales in June,” HousingWire (Sept. 9, 2014)

 

My two cents. Now that the market has cooled and in the Bay Area we have exceeded 2007 prices, we’ve seen a cooling off on cash buyers since prices have steadily risen. But as the busy months pass and we enter the holidays – I wouldn’t be surprised to see an influx of cash buyers while the market is a bit slower.

 

I read this article at: http://realtormag.realtor.org/daily-news/2014/09/10/buyers-facing-less-competition-from-cash-buyers?om_rid=AACmlZ&om_mid=_BUEI4dB88V4GC6&om_ntype=RMODaily

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The Caton Team – Susan & Sabrina – A Family of Realtors

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE#70000218/ Office BRE# 0149900

 

The Caton Team is proud to announce that Prudential California Realty – Pearson Properties will soon become Berkshire Hathaway Home Services – Drysdale Properties

Well it is official – Warren Buffet has blessed his Real Estate Company with his brand name. Prudential California Realty – Pearson Properties will soon become Berkshire Hathaway HomeServices – Drysdale Properties. We couldn’t be happier to have Warren Buffet as our new boss.

Our broker selected the name Drysdale for the following reason…

What Does Name “Drysdale” Mean

You are strong in material matters, determined and stubborn. You have good business ability. You are a good worker, steady and practical, a builder who takes responsibility well. These qualities may bring you a position of authority and power. You are a doer, down-to-earth, serious-minded, reliable, and self-disciplined; have good power of concentration. You are inventive, intuitive and extremely methodical. Since your will is so strong, you are hard to convince. You also dislike advice. You love beauty and philosophy, and you desire achievement. You have a strong need for freedom – physical, mental and spiritual.

You are very intuitive. You have a reservoir of inspired wisdom combined with inherited analytical ability, which could reward you through expressions of spiritual leadership, business analysis, marketing, artistic visions, and scientific research. Operating on spiritual side of your individuality can bring you to the great heights, and drop you off if you neglect your spiritual identity. You are always looking for an opportunity to investigate the unknown, to use and show your mental abilities, to find the purpose and meaning of life. You want to grow wise and to understand people and things. You need privacy to replenish your energy. You have a unique way of thinking, intuitive, reflective, absorbing.

The Caton Team is definitely Drysdale material and we look forward to this change.

When Warren Buffest invests in real estate – the world listens. We knew for some time that “The Rock” which is Prudential California Realty wanted to get out of real estate and focus on selling insurance. Mr. Buffet took this opportunity to put his money where his mouth is and bought Prudential Realty – you will soon see new signs pop up in the area – and know we’re the San Francisco Peninsula’s Berkshire Hathaway HomeServices Team!

The Caton Team is excited to be part of the Berkshire Hathaway Brand and we look forward to the positive changes in the market place. Stay tuned!

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR NEW INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

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Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE#70000218/ Office BRE# 0149900