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Trulia Los A…, Other/Just Looking in Los Angeles, CA

How common are cash buyers in Burbank in the current market?

Asked by Trulia Los Angeles, Los Angeles, CA Tue Jan 29, 2013

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Cash buyers are common in many markets including Burbank. Not an overwhelming majority but they are out there, mostly investors however there are some that are not investors.
1 vote Thank Flag Link Tue Jan 29, 2013
Very common. ... seems like everybody and their long lost uncle are flippers now a days, paying cash.... actually using hardmoney lenders to buy the property all cash.... And yes hard money lenders are back.

James
1 vote Thank Flag Link Tue Jan 29, 2013
There are quite a few cash buyers out there ,I would say in the Burbank market maybe 10%-20 % of offers are cash offers ! Good Luck !
0 votes Thank Flag Link Wed May 29, 2013
Looking at the MLS stats for the past couple of years Burbank has seen the following in way of cash buyers:
2011: 709 sales/102 cash buyers (approx 15%)
2012: 837 sales/146 cash buyers (approx 17%)
2013: YTD 184 sales/32 cash buyers (approx 18%)

National Association of Realtors had following stats nationwide:
2011 - approx 30% of all sales were cash buyers
2012 - approx 31.4% of all sales were cash buyers

There are a lot of investors but when you look at the inventory on market, cash buyers are common but not overwhelming so in Burbank. Financed buyers still have a great opportunity to purchase and beat out a cash buyer - one of the major things hindering today's market - lack of inventory and huge buyer demand - multiple bids are the biggest competition in Burbank for any buyer.

Hope this helps. If we can be of further assistance, please call us direct.
Kyle & Norma
The Achievers Group
Remax Town Center
800-525-5157 ext 0

*sales information/stats are derived from MLS as posted. Although deemed accurate is not guaranteed*
0 votes Thank Flag Link Mon Apr 1, 2013
Just list a property and you will see how many cash buyers will show up. Recently I have closed the deal with more than $mil cash in Burbank Hills.
0 votes Thank Flag Link Wed Jan 30, 2013
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