Today’s LA Times article, “Cash-Only Home Sales Rise in California” signals something. That the smart, cash money thinks it’s time to jump in. The discount is there – now is the time to make the investment. Particularly for trophy properties – get ‘em for 40% off.
“All-cash buyers grabbed a record 30.9% share of the Golden State’s houses and condos in January as low prices lured investors and others, according to San Diego research firm DataQuick Information Systems.
Cash activity has been brisk for months in foreclosure-ridden areas such as Riverside and San Bernardino. But now, the cash buyer has become a major player in Southern California’s most expensive communities, where cash deals account for as much as two-thirds of home sales.”
Definitely something to think about…