23
May
11

Cash Real Estate Deals

When reading this article in Old Republic, Real Estate Digest, these statics caught my attention and I thought I’d share:

According to the Las Vegas Association of Realtors report 51 percent of home sales in the area in January were cash purchases, most investors and foreign nationals, possibly the first time anywhere more than half of the homes were bought without mortgages.

“These smart-money buyers are voting with their pocketbooks on the future of our local housing market,” said local Realtor President Paul Bell.  “It shows domestic and worldwide interest in real estate here because we’re seeing many international investors buying property here at an amazing rate.”

Over the past year, the number of cash buyers had been growing up in Las Vegas, to finally 50 percent.  Nationally, about 28 percent of home purchases are cash deals.  The median price of a single-family home in Las Vegas is $125,000, while the median condo and townhouse price is $64,900.

Being said this is Vegas, what’s happening in your area?

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Jennifer Ferri, Owner

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