Miami Condo Market and Lifestyle Updates
South Floridian Trend to All-Cash Purchases

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.

 

Source: therealdeal.com

Photo credit: Aerial view - mypriveisland.comMoney unitedfrontdesign.net 

 

Recent posts

Real Estate News

Could Cite in Edgewater Have New Hotel Neighbor?

by Sep Niakan | January 12, 2017

According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...

Real Estate News

Brickell Avenue Bridge Schedule, Traffic and Solutions -- All You Need To Know

by Sep Niakan | January 09, 2017

Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...

Real Estate News

9 Positive Signs for the Miami Real Estate Market in 2017

by Sep Niakan | January 08, 2017

Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...

Real Estate News

Projects That Will Change the Way We Look at Wynwood, Forever!

by Sep Niakan | December 28, 2016

We all know Wynwood as the friendly, hipster neighborhood splashed with the best street art in the world. It’s where we all go for our art fix, browse far-out finds and linger around for a couple of craft beers. But, how about shopping,...