According to Steve Harney, national Real Estate prognosticator and author of KCMBlog.com (quoting NAR’s latest Home Sales Report):
All-cash sales were at 28 percent of transactions in September, up from 27 percent in August; they were 30 percent in September 2011.
Let’s take a look at our local market.
According to the Multiple Listing Service, area 3480 which includes the Citrus Isles and parts of Croissant Park, located in Fort Lauderdale, Florida, please note the following:
There were 81 single family homes sold during 2012 (from 1/1/2012 to date) and of those 81 homes, 42 were cash sales, 24 were conventional and 15 were FHA.
South Florida is known to have a significant number of cash sales. This creates a great opportunity for sellers. Time to list!
Check out this great video about the latest trends on the Real Estate market nationally. With all the negative press, you might be surprised about the positive turn in our market.