And this is also valid for foreigners investors. Read this ….
Never mind the rising price of homes. Buyers are coming with fistfuls of cash.In fact, homebuyers in South Florida now pay cash more often than they get a mortgage.
During the first three months of the year, 69 percent of Palm Beach County homebuyers paid cash, up from 42 percent in the first quarter of 2013, according to a report Thursday from RealtyTrac Inc. And that number was higher than the year before, when cash accounted for 40 percent of sales countywide.
In Broward County, 68 percent of homebuyers paid cash, up from 47 percent last year and 42 percent the year before.No one expected this. Analysts predicted that cash deals would fall as prices rose.
So what happened?