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All Cash Home Purchases On The Rise

All Cash Home Purchases On The Rise
Posted Thursday, May 8th 2014 @ 6pm  by KFBK News - Mike Simpson

Sale pending, but not for long.  More homes are going to all-cash buyers...

A third of all homes up and down the state, and here in Sacramento, now sell in cash-only deals. Reserach firm Realty Trac says there's been a jump in the sales over the last year to a level that's never been seen before.

Locally, two thirds of the homes appear to be going to investors. The rest, are being claimed by baby boomers with extra cash or familes who are able to borrow from friends and relatives.

Avoid a mortgage altogether and you can close a deal more quickly, getting a leg up on other buyers.

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