The retreat of the all-cash buyer

cashbuyer

 

 

 

 

 

In many parts of the country, housing prices gave returned to pre-recession levels. That’s good news for sellers, bad news for buyers. But buried within the latest housing data is some good news for everyone — everyone on Main Street, anyway.What’s an all-cash buyer? Someone — or something — with a lot of money. All-cash buyers don’t need mortgages, they just show up with a check and buy a home. Generally, they are big investors, like hedge funds and foreign entities, who have no intention of living in the homes. They skew the market by soaking up inventory that could be purchased by a young family looking for a first-time home purchase. They also make such buyers look bad. If you were a seller and had two offers — one all-cash, and one that still required financing to be arranged — which would you choose?

 

To learn more go to:

http://www.msn.com/en-us/money/homebuyerguide/cash-buyers-are-getting-out-of-the-housing-market-and-thats-good-for-you/ar-AAcsW7G