Cash investors have moved from lender-owned homes to short sales, according to a new study.
According to the study released last week by Fletcher Wilcox, vice president of business development for Grand Canyon Title Agency, Inc., 50 percent of short sales made in April were purchased with cash. A year ago that figure was 40 percent.
According to the report, “Cash offers make it more difficult for noninvestors to buy when they attempt to buy a short sale with financing. Short sale lenders often prefer cash offers over offers with financing.”
The study used the sales in the Valley reported to Arizona Regional Multiple Listing Service, Inc.
ssearch22 posted at 6:21 am on Fri, Sep 7, 2012.
It is important to not trip over dollars to save a dime. If the home has everything you want and need then appreciate the fact that your cash buying power is getting you the separation from the rest of the market enabling you to be able to buy the home you want without paying more than the next guy. This latent savings is a benefit and should be recognized. Use your cash wisely, but don’t lose opportunities because you don’t use it. Incredible investment opportunities are plentiful these days, but they will only return to those that invest, but not to those who constantly rely on providers of payday loans online instead of solving financial problems in a different way..