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"Cash is King"

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Real Estate Agent with Coldwell Banker BRE# 01940159

"Cash is King," this is how my manager described those buyers who pay in cash. With the present low inventory of houses across the country, paying in cash by the affluent seems unfair to those availing of financing with a meager down payment.

I am not surprised if this trend continues because the prices of homes are truly bargains when compared to the prices before the housing meltdown.

For me, I will buy in CASH next time...................that is, if I win the Lotto. :)

http://www.nbcnews.com/business/all-cash-offers-crushing-first-time-homebuyers-2D11980306

 

 

Posted by

     Mario Reyes

Real Estate Agent, BRE# 206535371
Coldwell Banker Residential Brokerage 
21060 Redwood Rd., Suite 100, Castro Valley , CA 94546
Office   No. -(510) 583-5433;  Fax No. (510)583-5480
Mobile No. -(510) 329-7644 
www.marioreyesrealtor.com
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Comments (6)
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Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

It is king but the seller also has a number they will not go below.

Jan 24, 2014 12:44 PM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

I continue to be amazed at the number of cash buyers in the market.

Jan 24, 2014 04:33 PM
Mario A. Reyes
Coldwell Banker - San Leandro, CA
Your real estate friend at San Francisco Bay Area

Hi Tim,

Sometimes Cash buyer wins the bidding when the listing price is overpriced and seller is motivated to dispose of the home. Also, when the bids over the listing price are  conventional in nature with low downpayment.

 

Jan 24, 2014 09:41 PM
Mario A. Reyes
Coldwell Banker - San Leandro, CA
Your real estate friend at San Francisco Bay Area

Hi Sharon, 

You are right they also amaze me.

Cash buyers are most active, at least in the Bay Area, within the $300,000 to $400,000 range. 

Jan 24, 2014 09:45 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Mario -- I was representing a buyer in a multiple offer situation and the listing agent told me that the seller did not want to sell to an all-cash investor client and preferred someone who was going to become a part of the neighborhood for many years.    

Jan 25, 2014 12:02 AM
Mario A. Reyes
Coldwell Banker - San Leandro, CA
Your real estate friend at San Francisco Bay Area

Hi Michael,

Sometimes it is hard to equate a Cash buyer as an investor. One time I was accompanying a client to a Townhouse listed at $608,000 when upon entering the home, we heard a buyer (man with his wife) saying that they were paying cash.

In that instance how could someone say that the buyer is an investor for that steep price?

Jan 26, 2014 12:47 PM
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