How Many Beach City Sales Are All Cash Offers?

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Since multiple offers on properties has become common place in areas like the Manhattan Beach Tree Section as well as elsewhere in the Beach Cities, it might be relevant to note that many offers are all cash today.  How many?  You might be surprised.

Investors have been using all cash offers for some time to scoop up bank-owned homes in areas such as Riverside, Corona and Moreno Valley.  But the prices are a bit stiffer in the coastal areas, so how often do buyers use all cash offers in Manhattan Beach, Hermosa Beach or Redondo Beach?

Bill Mayer of DataQuick Information Systems reported on the results for sales in 2011, and year-to-date for 2012 as follows:

City                                                   Total # of Sales                             All Cash Buyers

Manhattan Beach                        2011            491                                    143 (30%)

                                                        2012 ytd       214                                         84 (40%)

Hermosa Beach                           2011             198                                        65 (33%)

                                                        2012 ytd         116                                          31 (27%)

Redondo Beach                           2011             832                                     377 (46%)

                                                          2012 ytd      153                                      100 (66%)

Making an all cash offer can give you an edge in a competitive market.  Can’t do an all cash offer?  Contact me for more strategies that can help in a hot market.