South Floridian Trend to All-Cash Purchases
by Sep Niakan | May 13, 2014
A trend in home purchases are becoming a common occurrence in South Florida. RealtyTrac data says many people are switching from financing to all-cash deals for their homes.
In the first quarter of 2014, 67% of sales for new and existing home purchases in South Florida were all-cash deals, according to RealtyTrac data.
South Florida ranked second place in the United States for all-cash deals, with only the Cape Coral-Fort Myers area higher at 74% all-cash purchases.
Furthermore, seven Florida metropolitan areas ranked in the top seven spots for the highest percentage of all cash deals for homes.
RealtyTrac is a California-based real estate information company and online marketplace for foreclosed and defaulted homes in the U.S. It was founded in 1993 by Derek White, and Brandon Moore is currently CEO. RealtyTrac publishes a monthly U.S. Foreclosure Market Report for public use.
by Sep Niakan | November 29, 2016
This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...
by Sep Niakan | November 24, 2016
Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...
by Sep Niakan | November 22, 2016
It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...
by Sep Niakan | October 31, 2016
From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...