Wednesday, February 09, 2011

Cash Is King - In Real Estate Too!

What shouldn't really surprise us in the current real estate marketplace is that cash is king. Cash has always had a nice ring about it, but when mortgage loans get more scarce, sales where no mortgage is required are like music in a Realtor's ears. Just think - no mortgage contingencies, no appraisers, no banker's questions about furniture, holdbacks, and closing costs. In many cases, cash-in-hand provides significant bargaining power over often frustrated Sellers, who just want the process to be problem free.

The Wall Street Journal ran an article, yesterday, on cash buyers. Many of them are foreign nationals looking for a good investment. With prices down already, cash makes the deal even better!  Check out the WSJ article... here.

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