Real Estate Blog - Cash customers...coming out of the wood-work?

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Cash customers...coming out of the wood-work?

Cash customers...coming out of the wood-work?

Have you noticed?

The cash customer's are coming out of the wood-work lately....AT LEAST, that is what we are seeing in South Florida.

People who had money in the stock market and who [seemingly] had the foresight to take their money out of the stock market are looking for another realm to invest in (so they are telling me).

As some rumor's have it, Warren Buffet is one...now is the time to invest for the long term. As there are many wonderful properties for one reason or the other, be it an estate sale, or just seller's wanting to relocate, or seller's who have been relocated due to job responsibilities/transfers...are selling at rock bottom.

Not everyone has cash, however, those that do, are looking to reap the long term benefits of real estate...after all, hopefully, and historically...this market will in time change.

There are still lenders out there, there are some fantastic deals, there are people doing their home work and taking advantage of the current market for future income.

That's a smart move. If the comps are there and the price is right, there are buyers.

Have you noticed this in your area as well?

http://www.KarenMonsour.com, 954-464-4194

Posted by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! on 10/21/2008 10:15 PM

Comments (19)

Cash Buyers in the ActiveRain Channel

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Originally posted at: Karen@ www.KarenMonsour.com: Cash customers...coming out of the wood-work?

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19 Comments on Cash customers...coming out of the wood-work?

OCT

2008

Karen,

We haven't seen much of that in NE Ohio Market. Glad to hear things are getting a little better for you!

Tony,

Thanks, we're starting to get into our "season", so that may have helped...Also, I went to Coldwell Banker and their advertising campaigns are fantastic!

I have seen a few people go to the parents for the mortgage. It is a better and safer investment than the stock market and it helps out the family member.

Karen- I've been spotting them more and more lately. With cash people are able to close on the bargain priced opportunities such as pre-foreclosures and courthouse-steps properties.

OCT

2008

Hi Karen... I have had a couple of Cash buyers pop up in th last few weeks... I hope that they actually buy something!

They should be, Karen, in this market. You know the old saying, "Cash talks....etc." Hope your having a fine week.

Karen - No, I haven't noticed any more cash buyers, but there sure are a lot of great deals out here! :)

People are looking for the best return they can get and the stock market has failed them... again...

makes sense..

your friend in Charlottesville VA!!!

Karen~Great timing for this post. I met with a cash buyer at one of my listings on Friday and we are now closing in two weeks..it's a win-win for everyone...the Buyer got a great deal, the seller has no more carrying costs and I have control of both sides. Let's hope for more deals like these this year!

The cash customer's are coming out of the wood-work lately....AT LEAST, that is what we are seeing in South Florida.

Hi Karen,

Several of my clients around the country have reported the same thing. Some people have been saving for a long time, while others recently decided to pull their money out of stocks. With home prices having dropped substantially, in some markets, investing into real estate seems like a smart move.

Cordially,

Bruce

Bruce,

The return will be greater and the loss will be less. It's a smart move and people who were smart enough to pull out of the stock market before the debacle are seeing that investing their cash in RE...will win in the long term...

Short term investing is not the way to go right now. JMHO.

Hey Karen, We have had a few in our office lately, of course they aren't my clients!

Teresa,

Hey my friend, if you are a transaction broker without a fiduciary relationship, they are customers, not clients ( I like that word better as well, however, make sure you are calling the person you are representing as it is! just some friendly advice.) ..check that out...

then again...get out there and market yourself...if other's are getiing those customers...you can too! Keep it positive and get a customer like those in your office...then email me and let me know that you too will succeed!

All of the money must be in Florida. I spoke to 3 people this week alone who were interested in buying properties with no money down, I guess all of their rich relatives flew down to Florida.

JIM,

Humm....it's fantastic weather here...it's beautiful...I'll give you a 25% referral fee...send them to me my friend...WHAT ARE YOU THINKING??? Don't let them get away....let's do a deal...I have money here in so. flo....

Here's what happened... People like me who learned the last time the market crashed, put money in safe places with interest bearing accounts and out of stocks...safe now.

Other's who sold their stocks, probaby need 1031 exchanges or something like that...with real estate as low as it is here...for long term investing...I have some fantastic deals...

Come on down!

OCT

2008

Karen in Palm Beach: I have not had a huge splurge in cash buyers, however a Realtor in my office has just closed on 2 town homes and put contract on three more in the last month. He is a single solider in the US Army that has taken his money out of the stock market and decided to invest in five rental townhomes in the Fort Rucker area. I am sure it is going to be a trend that becomes popular for awhile, or at least until the market gets somewhat stable again.

Karen - we just wrote an offer for one cash buyer for a very decent price home (hope they get it - crossing fingers) ~Rita P.S. Still trying to figure it out :)

Michelle,

I'm in Fort Lauderdale, however, I appreciate your post.

Many other's have taken their money out of the stock market and are eagerly placing their cash in real estate...it will rebound...JMHO!

Kenna & Co.,

I hope it works out for you. Cash is good....that's what's happening here as well. Maybe it's the new trend...I hope so...it would be great for the real estate market...short term.

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