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Surprising: Most High End Home Buyers Do Not Pay Cash
My concern for the health of the Tallahassee luxury homes market has caused me to write several articles lately, and those articles have generated some stimulating questions from readers.
If you read last week's blog post on high end homes last week, then you know that I believe the market for these homes might be at serious risk to rising interest rates.
But a few readers were not as sure, and one even challenged me with an interesting question.
Do Mortgage Interest Rates Impact The Tallahassee Luxury Homes Market?
As a response to my article stating my concern about the susceptibility of Tallahassee luxury homes to rising mortgage interest rates, I was contacted with this challenge:
Joe, as an owner of a nicer home in Tallahassee, I think you are overly concerned about rising interest rates. Won't rising rates have more of an impact on the market at lower prices, since most upper end homeowners pay cash?
Well, this is a great question, and one that is not hard to answer.

I went to the tax records and reviewed all arms length home sales purchased in 2012.
I have defined "Tallahassee luxury homes" as the group of homes that sold ... more

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