Cash sales continue to fuel the Sarasota and Venice FL real estate markets. This past summer, over 50% of real estate transactions were cash in both cities:
Why is this occurring when we are seeing national news stories about the slow down in investor money in the real estate market?
Sarasota and Venice attract affluent home buyers and those buyers are more likely to have cash. The percentage of cash buyers is probably not tied so closely to investors, but to those looking for retirement or seasonal residences.
These buyers understand that a cash offer to purchase, in a multiple offer situation, looks far more attractive to a seller and increases the chances of their offer being accepted.