All-cash offers, wealthy buyers push Southern California home …

Apr 11, 2024 · Southern California home prices have hit a record despite high interest rates, a reflection of a shortage of inventory and the region's wealth disparity. ... All-cash offers, …

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All-cash Offers, Wealthy Buyers Push Southern California Home

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Nationally, similar trends are afoot, according to a Zillow survey, with the share of home buyers putting at least 20% rising, as well as those who received help from family and friends. In all, …

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Why did Southern California home prices hit a record in March?

(Dania Maxwell / Los Angeles Times) Southern California home prices hit a record in March amid sky-high mortgage interest rates, a combination that’s creating the most unaffordable housing market in a generation. The average for the six-county region reached $869,082 in March, according to Zillow. ...

Are cash home buyers a good idea in California?

Cash home buyers in California pay cash for homes, then fix them up and resell them for a profit. These companies offer a quick, easy sale — so they’re worth considering if you need to sell in a matter of days. ...

Should you buy a home with all-cash?

In a hot seller’s market, an all-cash offer makes cash home buyers stand out from the competition. Whereas, in a cool real estate market, buyers save hundreds of thousands of dollars in mortgage payments. But, buyers miss out on mortgage-related tax benefits and skip important steps in the closing. ...

Where does SoCal home buyers buy homes?

SoCal Home Buyers purchases homes throughout Los Angeles, San Diego, San Bernadino, Orange County, and Riverside, California. SoCal Home Buyers, a family-run real estate investment company since 2007, buys homes throughout Los Angeles, Riverside, San Bernardino, San Diego, and Orange Counties. ...

Are cash buyer companies in California legit?

Many cash buyer companies in California are indeed legit, but some might make low offers or take advantage of desperate homeowners. It'd be smart to read reviews from former sellers — like how reviewers of Premier Property Buyers said its reps were highly responsive and transparent — to make sure a company will meet your expectations. ...

What are the benefits of a cash buyer in California?

Another great benefit of a cash buyer in California is that it will purchase homes in as-is condition. If your home is in need of extensive repairs or is structurally unsound, it may be easier to sell to a cash buyer company instead of finding a buyer on the open market. ...