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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Daina Burness, Agent, Burbank, CA
Tue Jan 29, 2013
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
James Sanchez, Agent, Burbank, CA
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.

1 vote
Brad Korb, Agent, Burbank, CA
Wed May 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
Norma And Ja…, Agent, Marina Del Rey, CA
Mon Apr 1, 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
Asya Akopyan, Agent, Glendale, CA
Wed Jan 30, 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
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