November 17, 2024 6:30 am
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For the first time in 4 years, cash homebuyers aren’t king in Phoenix

cash-first-time-home-buyerKristena Hansen | Phoenix Business Journal

The old expression that “cash is king” has been reality for the metro Phoenix housing market since the downturn — until now.

Cash purchases, mostly by investors, were dethroned of their four-year reign last month when they were outnumbered, albeit only slightly, by conventional loans, according to a report this week by Grand Canyon Title Agency Inc. in Phoenix.

There were 2,188 homes Valleywide that were purchased with conventional mortgages last month, eclipsing cash sales by only 44, the report said.

Continued: 

Also: Home appraisers: Tough to find balance in ever-changing market

Real estate: Agents more optimistic about surging housing market

Real estate: Mortgage rules change borrowing scenarios

American Realty Capital Properties withdraws offer to buy Cole

If you’d like to discuss real estate matters, contact RLG founder Jordan Rose, jrose@roselawgroup.com

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.