Cash Deals on the Rise!

In 2013, especially through the months of June – August, the market has seen “all cash” deals rise to more than 40%. This increase, from 32% – 41%, is mostly attributed to sustained investors, rising interest rates and a tight inventory.

Rising interest rates are making it harder for buyers needing mortgages to get a loan; mixed with the low inventory, where in multiple offer situations cash offers win almost every time, it’s easy to see why cash deals are becoming more popular.

The growing number of foreclosure purchases at auctions, which are all-cash purchases, also contributes to the hike in cash deal percentages. Investors are feeling more comfortable entering back into the market place and selling properties they were sitting. This in turn is freeing up their cash flow to invest in other properties.

You can see more of Realty Trac’s report at http://www.inman.com/2013/09/26/cash-sales-share-of-total-purchases-skyrockets-by-nearly-a-third-in-2-months/

By: Liz Richards

What sets Liz Richards apart from your average real estate agent? A tremendous drive to be the BEST in the industry achieved through a devotion to extremely high standards of customer service, a far-reaching referral network, an extensive knowledge of new construction and the remodeling of older homes, and an intense love for and involvement in the Denver real estate market.

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