Sarasota Real Estate Market News

Cash is king for Southwest Florida real estate

For Southwest Florida buyers, cash is king — and shows no signs of abandoning its throne.

At least three out of every five homes and condos in Southwest Florida are changing hands with no financing, something that would have seemed almost unthinkable during the boom years of easy credit.

Multiple Listing Service data show that particular ratio of cash buyers for the 12 months ended July 31 compares with just one out of six in 2006-07.

One reason is that loans are simply harder to come by in the post-recession world. Freshly wounded lenders are risk-averse and they are being extremely picky about whom they loan to.

Read more HERE

August 28, 2011 - Posted by | News related to Buyers, News related to Financing, News related to Investors, News related to Sellers, News related to the Market

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