Tim J. Gullicksen Zephyr Realty Warns that Cash Sales Skew the Real Estate Market

More California homes were purchased with cash in 2012 than in any year since record keeping began, often over the list price.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend

San Francisco, CA (PRWEB) May 03, 2013

Tim J. Gullicksen Zephyr Realty has advice and information for those who are currently in the market to buy a home in the Bay Area. Gullicksen, who has been recognized as one of the best real estate agents in San Francisco, has noticed that more and more buyers are purchasing homes with cash and without mortgage financing, but warns that cash buyers often end up paying over the list price.

More California homes were purchased with cash in 2012 than in any year since record keeping began. A total of 145,797 condos and single-family homes were bought without mortgage financing in 2012. That was up from 125,812 in 2011, the previous high, according to San Diego-based DataQuick.

When sellers have multiple offers to choose from, the all-cash offer is a tempting option. With no bank approval process and no third-party appraisal required for the transaction, the closing of a cash transaction is both more certain and more speedy. This is making it tough for buyers with mortgages to compete, especially first-time homebuyers who may not have conventional loans.

In the local San Francisco market, there is a common perception that cash buyers often get a discount because of the superior terms and closing times of their offers.

The sales statistics for single-family home and condo buyers with all cash tell a different story. In 2012, they paid an average of 5.5 percent and 4.4 percent, respectively, over the list price. The old adage of getting a discount by paying cash apparently doesn’t ring true in San Francisco real estate.

Tim J. Gullicksen Zephyr Realty has been the best real estate firm serving San Francisco with over a billion dollars in gross sales annually. Prospective buyers of those with homes for sale can contact Mr. Gullicksen at 415-674-6500 or visit http://timgullicksen.com/zephyr.

<br>About the Company:<br>
Tim Gullicksen of Zephyr Realty is a San Francisco real estate agent who specializes in a broad spectrum of San Francisco real estate property types, from affordable units sold through the Mayor's Office of Housing to multi-million dollar buildings and single-family homes. Gullicksen works with experienced and first-time homebuyers in San Francisco to find them the right home.

For more than 30 years, Zephyr Realty has been one of the most respected real estate firms in San Francisco. Its reputation as a highly professional and effective group of agents is recognized by both clients and the entire real estate community as the most successful independent real estate firm serving San Francisco, with more than $1 billion in gross sales annually. Its real estate agents understand the San Francisco market like no one else.


Contact