So far in 2011, nearly HALF of Toledo area real estate transactions were CASH
In January 2011, nearly 46 percent of all Toledo area transactions were CASH, that’s according to John English at Birch Tree Title and NORIS MLS. That’s the highest percentage of cash sales in the past 5 years. It’s a reflection of our hard-hit market and banks not loaning money like they used to a few years ago.
February 8, 2011 The Wall Street Journal reported “Buyers in markets around the U.S. are snapping up homes in all-cash deals, betting that prices are at or near bottom and breathing life into some of the nation’s most battered housing markets. Nationally, 28% of sales were all-cash transactions last year, according to the National Association of Realtors. The rate was 14% in October 2008, when NAR began tracking it.” The article continues… “The harder a market has been hit, the higher the percentage of cash deals. Some cash purchases reflect a tight lending environment, where even people with good credit and ample down payments are sometimes turned away from conventional borrowing. The rates are great but the underwriting is brutal.”
As an agent who works with many buyers, most of whom are creditworthy, I’ve seen this.
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SOLD! 7732 Spring Haven Drive, Holland OH 43528

SOLD! 7372 Twin Lakes, Perrysburg, OH 43551

SOLD OVER $25K ABOVE LIST PRICE! ! 2504 Centennial Road, Toledo OH 43617

SOLD $20K ABOVE LIST PRICE! 3544 Cedardale Court, Toledo OH 43623

SOLD ABOVE LIST PRICE! 3509 Douglas Road, Toledo, OH 43606

SOLD ABOVE LIST PRICE! 2302 N. Watercrest Drive, Toledo, OH 43614

SOLD $25K ABOVE LIST PRICE! 1793 Valley Way Drive, Toledo OH 43614

SOLD! $15K ABOVE LIST PRICE – 516 Highland Drive, Rossford, OH 43460

SOLD! 5635 Dianne Court, Toledo, OH 43623
