Beyond the Expected: CASH!
Posted on 02/02/2012 by ARMLS Social Media Team | No Comments
The following is an article from the current issue of WAVE magazine, you can read WAVE here or in PDF format here.
In 2011, ARMLS Subscribers racked up the second highest sales record of the decade (100,959), second only to 2005’s housing bubble pinnacle (104,725). But would it surprise you to know that 47% of those sales were cash? Valley Buyers purchased over 47,400 single family properties with no third party financing in 2011.
The $100,000 and under price point accounted for 63% of the total cash sales, with another 24% in the $100,001-$200,000 range. Further analysis of the cash transactions shows 48% were foreclosures and 24% were short sales, accounting for a 72% dis-tressed property make up of the cash sales.