Can all-cash buyers be beat?
OK, the average Jack or Jill who needs to take out mortgage in order to buy a house isn't yet an endangered species.
But if present trends continue, cash buyers could very well soon make up half the market or more here in Massachusetts for condos and a good chunk of the single-family home market.
Investors and foreign buyers are helping lead the charge - check out this Globe piece on an influx of nouveau riche buyers from China and other countries from across the planet.
Here's a pretty remarkable stat, also from the piece. Back in 2010, a third of all condo sales in the state were all-cash deals.
Three years later, that number has to a stunning 42 percent, according to Warren Group stats.
That's great news for sellers, who suddenly are finding themselves benefiting from double-digit price increases.
But it's bad news for any buyer looking to do something as retro as put down a modest down payment and take out a mortgage.
Are you out hunting for a condo or a house? Do you finding yourself competing with all-cash buyers? How?s it going?
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