As of the end of November, the GLVAR reported the exact percentage of cash buyers in Southern Nevada to be 47.8 percent! Holy Moly! I don't know what other markets are like, but I've found that number to be quite astonishing! To be honest, I think it's amazing that in this economy there is so much cash out there to spend. Investors are taking a strong interest in Southern Nevada which is very promising for the current and future real estate market. These savvy buyers are showing confidence that prices are acceptably low and Las Vegas is a safe bet for investing. This is great news! With all the short sales and foreclosures we're muddling through these days, having nearly half the homes being purchased with cash will eliminate the possibility of default for these homes :) I'm starting to see the light at the end of the tunnel!!
Comments(1)