Thursday, March 3, 2011

27.4% of Orange County Homes Sold January 2011 to Cash Buyers

CA all cash buying 

Most first time homebuyers in California won't be able to compete with cash investor buyers at trustee sales and auctions. 

That's more reason for buyers to work with an experienced Realtor and find homes and properties through the multiple listing service.

California home sales hit record 30.9% all CASH buyers during January 2011.  Orange County wasn't far behind at 27.4% all cash buyers. 

People disagree about reasons for this CASH buying of properties.  It's probably a combination of good availability of lower cost properties, tighter credit these days, investor interest, foreclosure bargains, trustee sales, and positive belief in real estate as value.

During the past ten years, the percentage of CA homes sold for all CASH averaged 13.9% of the market (10.9% in Orange County).  house on money

Most California CASH buyers went for lower-cost properties, and median sold price for such all-cash purchases during January 2011 was $160,000.  Foreclosures (trustee sales to third parties and REO bank owned) made up 52% of such California cash purchases during January.

So CASH is king these days at lower price points, trustee auctions, and some California real estate markets.

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Source: MDADataquick; SFGate.com 

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

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We help people with their best decisions about real estate, listing and selling of homes and properties at Orange County, California. 

Posted via email from Explore OC Homes

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