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All-Cash Sales Down to 31.3%

by | Oct 2, 2015 | Community Information, Consumer Information, Costa Mesa, Kurt's Thoughts, Life In Costa Mesa |

All-Cash Sales Down to 31.3%
Orange County All-Cash Sales Down to 31.3%
CoreLogic reported a decrease in the share of all-cash home sales in June over the previous year. This accounted for 31.3% of the total sales during the month compared to 33.9% in June 2014 and was down 0.7% point from May.
 Costa Mesa Realtor- Kurt Galitski
It’s important to note also that CoreLogic says the share of cash sales has fallen each month since January 2013 — signalling a much anticipated change in market trends. Up to this point cash purchases were most common for real estate owned (REO) properties at 57% of the total and were the only category in where cash sales increased year-over-year. The sales of existing homes had a 30.8% cash share followed by short sales at 28.7%. Only 15.6% of newly constructed homes were sold for cash.

What does this mean for a buyer who needs a mortgage? It could mean a lot of things, not the least of which is less of a battle for inventory that does exist. It’s important to remember, especially in California, the influx of all-cash buyers has been steady, making it harder to purchase. There’s hope that this talking point will give more buyers who are looking to get a mortgage a fighting chance at achieving their dream of owning a home.
 rent vs by Kurtrealestate.com
As Inventory Slides, Are Pending Home Sales to Blame?
The volume of pending home sales dropped a bit. Summer cooled off after strong numbers in May and June whereas July numbers, while slightly smaller, remained in relatively positive territory.
In August however, the National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings for home purchases, was down 1.4 percent from the previous month. Analysts had expected that the index would hold at July’s half percentage point gain. NAR stands to believe that August sales represent a healthy level of activity, continuing what is now a 12-month streak of consecutive year-over-year gains.
THE KURT REAL ESTATE GROUP AND PROPERTY MANAGEMENT

If you’re the kind of person who is looking for a real estate and property management team in Costa Mesa or any part of Oranng County, CA. that is passionate about helping you achieve your real estate goals, you’ve found a home at The Kurt Real Estate Group. Kurt has achieved 5 Star status in Orange Coast Magazine 6 years in a row because he gets the job done ethically, honestly and with unparalleled professionalism. From representing Sellers, Buyers and Investors, while also being connected to Hollywood’s Film Industry, Kurt is always in tune with the latest trends and opportunities that are unknown to other agents. That’s why The Kurt Real Estate Group is consistently recognized as one of the top real estate and property management teams in Orange County. For Kurt and his Team, the aim is clear—to help you achieve your slice of “the good life”.

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Kurt Galitski

Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecu­tive years and you too will say mission accomplished. www.KurtRealEstate.com www.KurtPropertyManagement.com 877-957-6677

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