We have some investor clients all over the country and one of them sent me some interesting information.
I was surprised to see that 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 all 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).
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 seems to be king these days at the lower price points and some California real estate markets.
Of course, I'm holding out to buy Charlie Sheen's house when he gets committed to the loony bin. LOL
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Always Looking to Acquire Houses | Always Looking to Amaze Investors
We have some investor clients all over the country and one of them sent me some interesting information.
I was surprised to see that 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 all 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).
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 seems to be king these days at the lower price points and some California real estate markets.
Of course, I'm holding out to buy Charlie Sheen's house when he gets committed to the loony bin. LOL
Always Looking to Acquire Houses | Always Looking to Amaze Investors