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Can all-cash buyers be beat?

Posted by Scott Van Voorhis July 1, 2013 08:47 AM

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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?

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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