Florida Today Cash is King
Content
•.
, \. ' ;BY~:S';I'RAUB
\ ;. .•.. '~;!I
~ ·'§,"~s~~hstill king is
'.,l!.·(
. 'Wh' aenrt.eomes to h tome
'
.
, FLORIDA TODAY, Sunday, Jun~ 26, 2011
"
\ PORPW,JmjA roDAY
l'
place for their money than loans in order to q...alify for a certificate of de- ' a home whUepdces were
u,
Consider
using cash 'forahome purchase if:
• The ,amount of cash you spend doe~,riot consist of Ii' Significant portion of your liquid, or readily available, assets. • The Interest rate on a mortgage Is higher ' than wh~ you can' eam on yqur other . investments . • You can spve a lot on the deal by p~lng cash, as opposed to taking out a moitg~ge. • You'do not'want , . to deal with a credit agency In any manner.
SOIree: carol Robertson,
posit or other low-returning, soaring. .vehicle. "People aren't makThe ~de turned toward ~ything insafe 'invest- , ~ a, ~ttle more than two menu;" Hart said; years, ago, said Robertson. ,. , " " '\:' . lh~ ,:v,end doesnt apply . ~o al~~ serves as president onlr ~~;large purchas~ .by of,th~ ~tiple Listing .SerweU:..heeled buyers. In gener- vice for'the Melbourne Area al, "everything this year has Association of Realtors.:By ~h saleS ate an' lncreas- 'been cash,' Hart said. " then. the mortgage rttdtIn;g.proportlop of home pur- " BrokeJi Carol Robertson down had caused, a Wi,ae.. , ch~es on the Space Coast" has never'seen SQ, many cash spread pullback in lendipg; as credit 'tIgh1;~s ;m,d mort- deals. last month.. ~09 of and houstng prices were well gages become harder to ge~. Brevard County's sales were , into their downward trend. ,,' " ' , ", ' Sellers faced with a cash of· cash deals. That's 57 percent . While buyers turn to cash, ' fer and 'a competing. higher. - more than half - of the they>re. also 'stepping up" offer that would require the total. ", the pace of purchases, Last buyer qualify for a loan are Compare that to July" month. there, 662 exchoosing .the su~~ thing. 2004 _ the earliest month . lsting single-f.lmilyhom~
ing
'j
were
,
I
'
Once again, cash proves for which 6nancial data, is' king. available - when Brevard Betty, Hart -of Hart Real saw 77 cash deals. That was Estate Inc. closed. a deal just 17 percent of the total. earlier th.~ y~ for a,luxury 'That was a boom year for ,~~me ~t sold for $2.8 ~'Brevard r~ estate. during }.ion~h. The buye~s deaded, their ho~e was a better
sold in the countY, up from 6'11in April and '637 in,b4ay , 20.10. Sales dropped as 19W as 460 in January. ROb,ertsonsees advantages ~obo~ methods of payment. ~ortgagt rates are . 'See CASH, ~ sn~g ~ " tirement
broker~w;:;.:!~ee:,
West Mft(boume.
!"
•\
the sellers market that saw I ~ 'buyers taking out creative. .
'-"
h, 6tne,with
the near fu,ture" o .•... bert- rradltional-financing can ,,,..v . ' ugh r son said p'or her take' on be especially difficult. stUlloweno lor mort•••.. , . " es to be worthwhile, ; when to use cash, see ac- According to data firm , gagb b ks . h . companying tips box. Corel.ogle, the number ut as an raise t elf . d h ' For the purchase of of. second-home mortlending rates an ous-" ,i . ~"1 ~_"':"L""t second homes - a si•..•.• ' gages issued in 2010 was :l:. . ng pnces rau IUIwer. 1 . f th ke down 73 percent from its' may make more, sense to cant part 0 e mar t . " ,',. \ . 2005 peak. As prices fell. buy a home, with cashm in Brevard - obtainlne
CASH from IF,
I
&'.....
mg eats h deal b~niore att~ctive. . a cas . ~obertson I m selliltg entire hous.1 represented a client that , i'" 1 tl es - threeficidro,: ' oms, two ',recen y came out on top ',' f blddln tha . baths, two-car garages, _ ',' 0 a 1 g war t Inr : ,~ cl d d nl ffi ,'-~ u e DIne 0 ers on a for $50 000 $60000 •• "to ,property.
",'
.
ilia, t future recash
,.
Ana
mg orrers, no
i~"""~~~~{:~~l~hr"l·i~~;: •.""~M!'t~~~:JL~~,.,,, . '.'.... . ~rM1:CJIlII.9r~ for sellers evaluar,Her client didrit offer JT ' tho b th larg b
est amount, ut .' . the o~er included a ~lg deposit. all-cash purchase ' d 10 d I i an - ay c os ng.
,e
I
~i
RohpM'lInft ••••... ;
.
, \. ' ;BY~:S';I'RAUB
\ ;. .•.. '~;!I
~ ·'§,"~s~~hstill king is
'.,l!.·(
. 'Wh' aenrt.eomes to h tome
'
.
, FLORIDA TODAY, Sunday, Jun~ 26, 2011
"
\ PORPW,JmjA roDAY
l'
place for their money than loans in order to q...alify for a certificate of de- ' a home whUepdces were
u,
Consider
using cash 'forahome purchase if:
• The ,amount of cash you spend doe~,riot consist of Ii' Significant portion of your liquid, or readily available, assets. • The Interest rate on a mortgage Is higher ' than wh~ you can' eam on yqur other . investments . • You can spve a lot on the deal by p~lng cash, as opposed to taking out a moitg~ge. • You'do not'want , . to deal with a credit agency In any manner.
SOIree: carol Robertson,
posit or other low-returning, soaring. .vehicle. "People aren't makThe ~de turned toward ~ything insafe 'invest- , ~ a, ~ttle more than two menu;" Hart said; years, ago, said Robertson. ,. , " " '\:' . lh~ ,:v,end doesnt apply . ~o al~~ serves as president onlr ~~;large purchas~ .by of,th~ ~tiple Listing .SerweU:..heeled buyers. In gener- vice for'the Melbourne Area al, "everything this year has Association of Realtors.:By ~h saleS ate an' lncreas- 'been cash,' Hart said. " then. the mortgage rttdtIn;g.proportlop of home pur- " BrokeJi Carol Robertson down had caused, a Wi,ae.. , ch~es on the Space Coast" has never'seen SQ, many cash spread pullback in lendipg; as credit 'tIgh1;~s ;m,d mort- deals. last month.. ~09 of and houstng prices were well gages become harder to ge~. Brevard County's sales were , into their downward trend. ,,' " ' , ", ' Sellers faced with a cash of· cash deals. That's 57 percent . While buyers turn to cash, ' fer and 'a competing. higher. - more than half - of the they>re. also 'stepping up" offer that would require the total. ", the pace of purchases, Last buyer qualify for a loan are Compare that to July" month. there, 662 exchoosing .the su~~ thing. 2004 _ the earliest month . lsting single-f.lmilyhom~
ing
'j
were
,
I
'
Once again, cash proves for which 6nancial data, is' king. available - when Brevard Betty, Hart -of Hart Real saw 77 cash deals. That was Estate Inc. closed. a deal just 17 percent of the total. earlier th.~ y~ for a,luxury 'That was a boom year for ,~~me ~t sold for $2.8 ~'Brevard r~ estate. during }.ion~h. The buye~s deaded, their ho~e was a better
sold in the countY, up from 6'11in April and '637 in,b4ay , 20.10. Sales dropped as 19W as 460 in January. ROb,ertsonsees advantages ~obo~ methods of payment. ~ortgagt rates are . 'See CASH, ~ sn~g ~ " tirement
broker~w;:;.:!~ee:,
West Mft(boume.
!"
•\
the sellers market that saw I ~ 'buyers taking out creative. .
'-"
h, 6tne,with
the near fu,ture" o .•... bert- rradltional-financing can ,,,..v . ' ugh r son said p'or her take' on be especially difficult. stUlloweno lor mort•••.. , . " es to be worthwhile, ; when to use cash, see ac- According to data firm , gagb b ks . h . companying tips box. Corel.ogle, the number ut as an raise t elf . d h ' For the purchase of of. second-home mortlending rates an ous-" ,i . ~"1 ~_"':"L""t second homes - a si•..•.• ' gages issued in 2010 was :l:. . ng pnces rau IUIwer. 1 . f th ke down 73 percent from its' may make more, sense to cant part 0 e mar t . " ,',. \ . 2005 peak. As prices fell. buy a home, with cashm in Brevard - obtainlne
CASH from IF,
I
&'.....
mg eats h deal b~niore att~ctive. . a cas . ~obertson I m selliltg entire hous.1 represented a client that , i'" 1 tl es - threeficidro,: ' oms, two ',recen y came out on top ',' f blddln tha . baths, two-car garages, _ ',' 0 a 1 g war t Inr : ,~ cl d d nl ffi ,'-~ u e DIne 0 ers on a for $50 000 $60000 •• "to ,property.
",'
.
ilia, t future recash
,.
Ana
mg orrers, no
i~"""~~~~{:~~l~hr"l·i~~;: •.""~M!'t~~~:JL~~,.,,, . '.'.... . ~rM1:CJIlII.9r~ for sellers evaluar,Her client didrit offer JT ' tho b th larg b
est amount, ut .' . the o~er included a ~lg deposit. all-cash purchase ' d 10 d I i an - ay c os ng.
,e
I
~i
RohpM'lInft ••••... ;
.
