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Increasing Number of Cash Buyers in Scottsdale

November 18, 2012 by Carmen Brodeur

We are seeing more and more people paying cash for their homes in Scottsdale. Cash buyers make up a large percentage of all real estate transactions in Maricopa County. The reasons for this vary depending on the price level. At the low end of scottsdale homesthe market, many investors pay cash for homes as an additional incentive for Sellers to select their offer. Sellers always prefer cash deals over financed deals, because of the lack of an appraisal or financing contingency. Many high-end buyers pay cash for their homes, simply as a way to park money in a real estate investment. You have to do something with your money right? Since the stock market crash, many affluent buyers see paying cash as a way of diversifying their assets.

In Maricopa County, the percentage of properties purchased without financing rose from 37.4% in August 2011 to 38.5% in August 2012. For comparison, in June 2007 we saw 8.3% of sales being completed by cash buyers. Cash purchases now dominate at the lower end of the market but also represent almost 1 in 3 of more expensive home sales:

• Under $150,000 51% cash

• Between $150,000 and $500,000 24% cash

• $500,000 and over 32% cash

Interestingly, cash buyers have always made up a majority of my business. Approximately 75% of my clients this year, paid cash for their homes. I believe that is because I specialize in helping out of state buyers buy second homes. Financing is more common with primary residences than second homes. Most vacation home buyers pay cash for their homes. Those that do finance their vacation homes, usually do so simply to take advantage of the historic low rates and leverage their investment.

Call me with any questions or to schedule an appointment to view any homes in Scottsdale.

Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
(602) 791-0536
Carmen@TopScottsdaleHomes.com
www.TopScottsdaleHomes.com

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Carmen Brodeur Scottsdale RealtorVoted in the Top 3 Real Estate Agents in Arizona by the readers of Ranking Arizona Magazine, 2015-2022. Her background as an Attorney gives her special expertise with contracts and negotiations. Carmen has a proven track record of success with buyers and sellers in Scottsdale.

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Your Scottsdale Real Estate Connection

Whether you are buying or selling, we are committed to providing you with exceptional service. Put our experience to work for you. Contact Carmen Brodeur today at Carmen@TopScottsdaleHomes.com

Our Office

We are conveniently located in North Scottsdale.

Trillium Properties, LLC
20715 N. Pima Road, Suite 108
Scottsdale AZ 85255
(602) 791-0536
Carmen@TopScottsdaleHomes.com
 
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