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Cash home sales in California set record | A reason to buy CA HUD Homes in Orange County

Cash home sales in California set a record high! Another great reason to buy HUD Homes for Sale in Orange County.

In the article below Housingwire explains that cash home sales in California hit a record high due to investor activity. HUD Homes are marketed to owner occupied buyers. All insurable ( qualify for FHA financing) HUD homes are sold only to Owner Occupant buyers for the first 30 days they are listed. This gives owner occupant buyers a great chance to buy HUD home without investor competition. This will ultimately lead to more favorable pricing on HUD home purchases rather than regular market or REO/ bank owned purchases.

Owner occupant buyers can greatly benefit by looking at HUD owned homes in Orange County, CA. Jesse Madison is a Local Listing Broker for PEMCO, LTD. An Asset manager for HUD in Orange County, CA

 

From Housingwire.com

California home sales reach record high

2/6/13 4:18pm
HUD Homes for Sale in Orange County

The number of homes in California purchased with cash hit a record high last year, undoubtedly a result of high investor interest, a difficult mortgage environment and perceived higher returns on investment, according to real estate data firm DataQuick.

The total number of properties paid for with cash reached 145,797 in 2012, up from the previous record high of 125,812 in 2011.

The significance of these numbers is evident when looking back at 2007, when there were only 39,731 cash sales, according to San Diego-based DataQuick.

“It’s clear that a lot of today’s housing market recovery is being fueled by people putting their own money into homes. Some cash buying is part of a normal housing market, but we’re at twice that normal rate,” said John Walsh, DataQuick president.

Walsh says there are a number of different demographics that are buying with cash. There are the standard wealthy homebuyers, buyers from abroad, retirees and empty nesters.

Of California’s overall home sales last year, a record 32.4% were cash purchases. This more than doubles the annual average of 15.6% from 1991 to 2012.

“Today, a lot of buyers are chasing what they view as the deal of a lifetime,” said Walsh.

To see a breakdown of cash purchases throughout California, click here.

Just Listed; San Juan Capistrano home for sale | HUD Owned $280,000

Beautiful San Juan Capistrano home for sale.

3 Bed 2 Bath SFR just $280,000

31575 Moonglow LN, San Juan Capistrano 92675

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Enjoy this detached San Juan Capistrano home for sale located just a few minutes from Downtown San Juan Capistrano. Interior features include tile flooring in living room and hall with laminate dining area. Carpet flooring in all 3 bedrooms. All appliances in place to include a dishwasher, stove and microwave hood with vent. Laundry facilities inside the unit. patio has raised wood deck. Patio cover present with direct access to 1 car carport located at rear of property. 1 car garage has direct access to the home. Master highly upgraded with new cabinetry, sinks, faucets and granite counters. Cozy fireplace in living with large sliding glass door that opens to patio area. HUD Owned. FHA Financing OK!

  • Fireplace in living room,
  • 3 Bed 2 Bath
  • Inside Laundry
  • Quick freeway Access
  • Private Patio with Patio Cover
  • 1 Carport and 1 Direct Access Garage.
  • Fully detached home.

listing moonglow07

 

3BR/2BA Single Family House offered at $280,000
Year Built 1975
Sq Footage 1,285
Bedrooms 3
Bathrooms 2 full, 0 partial
Floors Unspecified
Parking 1 Car garage
Lot Size 2,829 sqft
HOA/Maint $252 per month

To schedule an appointment to se this San Juan Capistrano home for sale…Call Jesse today!

949-306-8416

Just listed! $165,000 1 bed 1 bath in Rancho Santa Margarita, CA. HUD Owned!

Come see this new listing at 16 Pica Flora, unit 51 RSM, CA

20121108-010949.jpg

FHA approved!
868 sq ft
Built in 1987

Call Jesse 949-306-8416