January Cash Real Estate Sales

During the month of January, almost a quarter of all residential property sales were cash real estate sales. Similarly, cash sales in December of last year were 21 percent. As compared to last year, cash sales fell slightly from 26 percent to 23 percent in January, according to the January 2017 REALTORS^® Confidence Index Survey Report.

Who is Paying Cash for Real Estate?

Generally, buyers who pay cash for property are investors, buyers looking for good deals on foreclosures or second homes. Also, foreigners are more likely to pay cash than other types of buyers. Due to the decline in distressed sales, the percentage of people paying cash for real estate has also declined.

What About Distressed Sales?

Overall, distressed sales only accounted for 7 percent of total sales in January 2017 and it was the same as last month. However, it is 2 percent less than last year.

And Investors?

Lastly, investment sales accounted for 15 percent of sales in January 2017 which was the same as December of last year and down 2 percent from last January. Most notably, real estate investment purchases have been declining since the recession in 2011 and 2012. With fewer distressed sales available for purchase. Due to the significant decline in stress sales on the market, this trend is expected to continue.

Bottom Line:

Finally, when you are ready to buy a condo or home in Naples, you will find it is more complex than a typical home purchase. Condos have various fees and assessments that are not always obvious when you begin your property search. Also, if you have pets, there often restrictions on what type of pets and how big your pet can be. Lastly, demographics vary significantly in each community.

So when you are looking for information about a specific community in Bonita Springs, Estero or Naples, contact me and I will prepare a custom market report for you. I can help provide the market information and more importantly, provide insights to help ensure you select the best community to match your needs.