Here’s what the rise in cash homebuyers means for you.
As a team that handles a lot of volume, we’re negotiating deals every day and have a pretty good feel for the market. One trend that has been sticking out, as of lately, is that there are a lot of cash buyers out there. These aren’t just cash investors. These are people who are using their hard-earned money and putting it into real estate.
Last weekend, my team was up against multiple offers on every single offer that they submitted. I was working with four different buyers, and every single one was in a multiple-offer situation.
These cash buyers are really bringing it, as in they’re bidding list price or more to win these properties. This makes things much more competitive for the rest of us.
If you’re a homebuyer with financing, it’s going to be tough to compete with a cash buyer who doesn’t have any contingencies. This means that you need to put your best foot forward on every single offer. Especially in the price point from $200,000 to $500,000. It’s a fast and furious seller’s market.
If you have any questions about buying a home, selling a home, or investing in real estate yourself, don’t hesitate to reach out via phone or email. We look forward to hearing from you.