The UT polled their experts on the topic of all-cash sales. Most opined that it is investors who are screwing up the market, and international buyers taking advantage of exchange rates:
What were the August all-cash sales counts around NSDCC?
Last month, there were 73 of 307, or 24%, of detached-home sales that were reported as all-cash sales:
|Town or Area|
A review of the 73 revealed that approximately 14 were purchased by flippers or investors, based on the price paid, and agents involved. In other words, roughly 81% of the cash sales were by owner-occupants – which is great for the neighborhood!
Carmel Valley, known for its international-buyer pool, had only 11% of its sales that were consumated with all-cash.