Daily Real Estate News  |  September 16, 2008  |   Cash Buyers Command Best Prices
Cash is king in Florida markets where many buyers have the luxury of buying a home without getting a mortgage.

Budge Huskey, southeast region executive vice president at NRT LLC, parent company of Coldwell Banker Residential Real Estate, says cash sales have increased in the last 12 months from 25 percent to nearly 40 percent.

Michael Saunders & Co. reports that during the first eight months of this year 54.5 percent of its transactions were in cash.

"Cash buyers are definitely playing a bigger part in what is a shrunken marketplace," says Jack McCabe, a Deerfield Beach-based real estate analyst. "They are able to command the best prices, as when you have a cash buyer sitting across from you saying you don't have to worry about anything, this deal will close right away. It helps."

Source: Sarasota Herald-Tribune, Aaron Kessler (09/15/2008)