Quote:
Originally Posted by TiltonBB
It is not just the banks lending money, there is a lot of cash around. That is especially true in Florida but that may be a different demographic with a higher percentage of retirees. There are a lot of cash buyers around the lake.
A year ago, I sold a home in Florida to a gentleman who offered cash, over the asking price, with no appraisal. The neighborhood I just built in will be about 1,100 homes. I was told today by one of the sales team that over 75% of the first 800 buyers have paid cash. That amazes me, but maybe I shouldn't be surprised.
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Hard to not get off topic, but a good number of people invested in the stock market in 2016-17 made a lot of money. Since 2020 they have been looking elsewhere to invest and real estate seems to be a good long term place to weather the storm. The problem, of course, has been to buy something when prices are WAY inflated. I'm changing directions, but that's not what this thread is about.