All Cash - Is It King?

On Sunday mornings I do like to write a semi-weekly blog post. So, I generally wake up wondering what I want the topic to be and start reading to stimulate those thoughts.

Today I am taking a buyer out to look for homes in Valencia and/or Stevenson Ranch. We've been out to several properties in the last few months. Criteria is tight, so it's been challenging. But, we have made offers on two. My client has shied away from Short-Sales (SS), so it limits us further.

We wrote an offer on a Standard Sale, cash wasn't king there. The seller was a bit over-priced and didn't accept our offer. Not to mention, they had a Home of Choice contingency on the sale. Since that time, those sellers have taken their home off the market. Go figure.

Second one was investor owned. They had purchased at a Trustee Sale, cash there, and since their initial investment, the values had dropped quite a bit in the area. Needed a little bit of work, but was good for my buyer. Cash was pretty close to King on that one, but off by about 10k so the sellers took the financed offer. That one is still in escrow now. They had a small margin of profit, understandable to me.

So today, we are going to look at a SS. Nice property, pretty close to clients needs. Have to check out a couple street noise issues and see what the family thinks. And, then of course, see if cash is king here.

Funny thing is, this morning I started with L.A.Times Real Estate reading and saw this article:

Cash Only Home Sales Rise In California

I'm working in the wrong neighborhood!!!

I do think that an all cash buyer will certainly be able to get a better deal than a financed buyer. But it depends on several different factors. And, sometimes, the factors don't fit the needs.