Multiple Offers In a Recession.? You Kidding…? Read On….
You’ve heard though the Main Stream Media that we are in a recession “nationally” and if you didn’t know, the most recent report regarding unemployment in the Sacramento Region pegs us at 12.3%
Most of us in the real estate business know that there is a lot of money looking for a home…especially… in the investment real estate sector.
Would you believe that 50% of the 171 Closed Transactions in the 3rd Quarter 2009 were all Cash deals with no financing involved..? Check out the stats below here.
Cash Deals 85 49.707%
Conventional Financing – Min. 25% Down 61
FHA – Owner Occupied – Min. 3.5% Down 11
Total Closed Sales 3rd Quarter – 2009 171
Not only is Cash king here, on top of that prices are not coming down. The Average List Price to Sales Price Ratio these 171 closed escrows came in at 102.33% during this time period.
I’ve provided some of the hard data, such as the Address, List Price, Sales Price, Year Built, Days on Market, etc in the link below. I hope you find it useful and informative.
If you would like a more detailed report or have some interest in a particular property just drop a note my way by clicking here.
MAKE IT A GREAT DAY….!