California Real Estate – 33% of home sales have been “All Cash” buyers in the first quarter!

During the first three months of 2014, the local Southern California Real Estate market has seemingly flattened out as far as appreciation yet “All Cash” purchases are increasing.  

Many of these all cash buyers have been institutional or smaller investors either looking for long term rentals or short term “flips” along with many foreigners from Asia who maybe seeking a second home and/or stability for the cash here in Southern California real estate.   

The low inventory also is causing a frenzy in the hotter more desirable markets on the westside (Brentwood, Pacific Palisades and Bel Air).  Even sellers of condos, town-homes and COOPs are finding frenzy buyers in the coastal areas around Venice (Abbott Kinney), Marina Del Rey, Ocean Park and the North of Wilshire area of Santa Monica.  

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: