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Hello, I am looking at statistics for cash bought home sales.
Everywhere I look only gives the market share, saying "home sales to cash buyers are at XX% of the market". Can you help me find where the raw data is so I can see the actual number of houses being bought with cash?
Thanks for any help
If you are looking for the number of homes sold for cash in a particular market or region you may have to delve more deeply in web sites for places like RealtyTrac or Realtor.com. However, you'll have to do your own math. Find the number of homes sold, multiply by the per cent sold for cash and you'll get your number of cash sale homes.
I would like to know how many of these cash buyers were REAL cash buyers. I bet a lot of those cash sales were HELOC'ed into a 80/20 cash out and rented vs how many were foreign bought and how many live in
Many buyers imagine that they have some type of special leverage by being a 'cash buyer', but, that's not really the case. From a seller's perspective, all RE sales are ultimately 'cash sales'. The only thing a 'cash-in-hand buyer' adds to the mix is a greater likelihood of quickly closing without problems.
Just curious: What relevance does the source of source of funds for home purchases have?
Cash means no potential for funding issues that might otherwise arise through a mortgage lender or federally-backed program.
Not really; the OP was asking for statistics based on the number of cash buyers (obviously cash-buyers buy with cash and have fewer financing obstacles). The implied OP seemed to infer that there might be some leverage or benefit to having those statistics ... and I was curious what that might be.
Anecdotally, on Beverly Hills source says that 'cash deals' account for up to 2/3 of the area home sales http://www.christophechoo.com/home-b...y-estates-man/ --- but, that likely varies by the economic health of the buyers in an area.
The OP wanted to know where to get the data, which I think is trivial. The information came from Dataquick, a company that somehow gets the data and turns it into information as a business. It would be difficult for an individual to find out which deals actually closed as a Cash deal as opposed to a, let's amend this offer and I'm going to close with loan instead.
The listing and selling agents know if the deal closed as a all cash deal but do they record it anywhere?
At least in LA, the only way I see them about to figure out if there is a loan, is after the fact by checking the county records and seeing if a loan was taken out. It is not hard to do and people are paid to do it.
It is possible to collect the data of properties and see if there was a loan used for purchased.
The perception of a deal being a cash deal is also hard to change. Image this scenario, a listing agent gets a all cash offer they accept, the next 20 agents are told a cash offer has been accepted and don't submit unless you have a cash offer. Midway through the transaction , the buyer want to get a loan instead, the seller accepts. The 20 agents that were told it was a cash sale still thinks that it closed as a cash case and propagate the story.
Also just because it is a foreign investor doesn't mean it isn't borrower money.
I don't know about other MLS systems but I can easily pull the exact number of cash sales from my MLS, as the listing agent must enter the closed terms when the listing is closed out. If a cash offer turns into a mortgage midpoint then she marks it closed with financing.
I don't know about other MLS systems but I can easily pull the exact number of cash sales from my MLS, as the listing agent must enter the closed terms when the listing is closed out. If a cash offer turns into a mortgage midpoint then she marks it closed with financing.
What kind of terms do they track, 1st and 2nd mortgage amount, length of loan, variable or fixed rates, Downpayment %?
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