Check out this interesting article from USA Today. It’s definitely a trend we’re seeing on a local level as well. Click the pic below to view the article in its entirety.
Investors With Cash Are Buying Houses
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This is very accurate in our market in Silicon Valley and Santa Cruz. Investors are beating out even pre-approved buyers with 20%-30% down payments. I feel that agents need to be making their buyers aware of this trend way in advance of writing an offer to allow their clients to creat a strategy of how to position themselves. Not having a clear path to follow as a buyer is leading so many buyers to be disappointed as they write one offer after another and get soundly beaten out. It’s up to the agent to set the stage in advance. That’s part of what we get paid for!