What percent of homes in the $850K - $1.1M range are purchased in cash? Thanks!

Asked by JJ Dickens, Los Altos, CA Mon Mar 21, 2011

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Marcy Moyer’s answer
Marcy Moyer, Agent, San Ramon, CA
Mon Mar 21, 2011
BEST ANSWER
JJ,
In the last year there were 68 homes sold in Palo between $850,000 and 1.1 Of those 11 were sold with all cash as per MLS There may have been a few sold off market but probably not enough to radically change the percentage. These are single family homes. Let me know if you want the stats for condos/townhomes also.

Marcy Moyer
DRE 01191194
Web Reference:  http://www.marcymoyer.com
2 votes
Rudi Hofmann, Mortgage Broker Or Lender, El Segundo, CA
Wed Mar 23, 2011
Interesting question. Especially the price range to $1.1M. .... You have to compliment Marcy on her research for you..

Happy funding, Rudi
Web Reference:  http://www.umboc.com
0 votes
JJ Dickens, Home Buyer, Los Altos, CA
Tue Mar 22, 2011
I am trying to get a sense for the number of cash buyers in this market versus those that require mortgages given that rates are rising and government policy is changing toward mortgage support.
In the low end of the market, I know some builders will buy in cash and of course there are some private home purchases in cash, although if a buyer had that much cash you might expect them to buy a nicer home ($1M doesn't go very far in PA).
Thanks to those that provided statistics and data, it was very helpful.
0 votes
John Arendsen, Agent, Leucadia, CA
Mon Mar 21, 2011
I know plenty of agents that would love to research for you.
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Mar 21, 2011
Would take a tremendous amount of work for Realtor research this . You can visit county tax office investigate yourself

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Francis Roll…, Agent, Los Altos, CA
Mon Mar 21, 2011
Hi JJ,
In the County approximately 1 out of 4 properties have sold for all cash, without a loan. If you want I would refer you to my blog, below. (2nd and 3rd part), where I was mentioning the figures.
I hope it helps,
Francis
0 votes
Daniel Berman, Agent, Palo Alto, CA
Mon Mar 21, 2011
Dear JJ Dickens:

If we understood your underlying motivation, we might be able to provide you with the information you are seeking.

Are you asking this question in the context of making an all-cash offer yourself or is there some other underlying reason?

"Help us help you."

Regards,
Dan

Daniel Berman
Pacific Century Realty
Buyer Rebates to 50%
Listing Commissions as Low as 1%
Multilingual Services
0 votes
Michael Cheng, Agent, San Jose, CA
Mon Mar 21, 2011
Are you looking for estimates in a certain area/city/location or nationwide? And, over what time frame? With the recent surge of investor cash buyers picking up about 30% of all sales, I'd guess that about 10-15% of purchases in that price range has been all cash offers in the last 6 months. The NAR will likely be able to put together the statistics if they put a few people on that job for a few days.
Web Reference:  http://www.archershomes.com
0 votes
Terri Vellios, Agent, Campbell, CA
Mon Mar 21, 2011
This is an interesting question. Is there a time frame and specific area for which you are interested in the data? If it was the last month in Palo Alto? Single Family Homes? It can vary.
Web Reference:  http://terrivellios.com
0 votes
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