Welcome to San Diego Blog | July 28, 2011
Cash vs Financing for 92101 Properties
Buyers and Sellers for condo properties in Downtown San Diego92101 zip code should be mindful that over the past 24 months, 35% of the sales have been cash sales. Yes, cash does take priority over financing in most cases, but it does not put the buyer in a highly superior position.
For the second Quarter of 2011, we saw 38% of all of the sales for real estate in Downtown San Diego were cash transactions. I recently represented a buyer on making an over full price cash offer with a 7 day close and the seller chose a different offer. Although cash does give an advantage, it doesn’t guarantee a discounted price all the time.
Cash buyers can expect to have more superiority on purchases over $600,000 as the market at and above $600,000 remains relatively flat while the market at $450,000 and below is really competitive. There are a lot of cash investors interested in purchasing and renting with the idea of selling for a profit at a later date.