What kind of financing is used for the purchase of single family homes in the
Is "all-cash" an important factor? Are most new loans conventional or FHA? How about federal VA? Do all other financing mechanisms (owner financing, lease-options, etc.) account for many sales?
Here is how the sales for single family homes in this RMLS market area break out for calendar year 2011 - by type of purchase made:
Jim, it is great information to know the types of financing (or cash) for closed sales in a particular area. What a wonderful idea for a market report! :)
Leilani
OKay, I'm a little but confused. This is members only, but maybe it is supposed to be a draft. I think you are missing the chart, right? Or... it could be that I have not had my coffee yet.
It's impressive how many cash buyers are out there lately! Interesting stats.. thanks for sharing!
Jim ---
I love pie charts. This is good information. I'm amazed at the cash buyers. Just closed escrow on a short sale, and the buyer had taken her equity out of her house to buy the short sale duplex for her sons. That's another source of cash: equity on one's paid off home.
Pacita -
Which just goes to show that cash can show up from a variety of sources.
Dear Jim - I really "do" like that pie chart!! The stats are amazing I think in this economy. I may have thought some of them FHA or? Good news! Which program did you do by the way to get this appearance?
Pam -
East Eugene has the lowest proportion of distressed properties and the greatest use of conventional loan financing of the 11 MLS market areas in our metro area. Others have much higher use of FHA.
The chart was made (very simply) in Excel (data entry plus a few clicks) and saved to one of a set of files (one for each MLS market area), copied and pasted to Paint, saved (six quick clicks) to one of a set of (market area) picture files, then brought into the post using the AR browse function and tagged.
Great chart, Jim. It's amazing how you can tell a story with one simple pie chart! Gives "easy as pie" new meaning.
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