Atlanta Real Estate: Surge in Cash Offers Changing Competitive Landscape of Metro Atlanta Real Estate Market

The cash market for real estate is heating up in Atlanta. I've seen more cash offers on homes so far in 2014 than I've seen in my 7 years in real estate combined! Some of these buyers are large corporate investors. Others are smaller-scale local investors. Quite a few are actually just normal people like you and me who have decided that now is a good time to make a move. They may be taking cash out of their retirement account to pay for the new home, but I've also seen a lot of cases where empty nesters are buying a smaller home for themselves or purchasing a home for their children. 

There have always been cash buyers; what is different here? In one word: timing! The cash transactions I've worked in lately progress very quickly. The initial offer is made, a counteroffer or two go back and forth, and we are typically in a binding agreement -- all within 24 hours. I even had one house recently that we listed at 9pm on a Thursday, and we had a cash offer by noon on Friday! Sometimes these buyers see the homes in person first; other times, they make what we call a "blind cash offer." They figure they'll see the home when it is inspected, and they make it clear that they are relying on the representation and photos provided by the listing agent.

How does this affect you as a first-time buyer or repeat buyer who is obtaining financing? It simply means things have gotten more competitive. There is no need to fear or get discouraged; this is something we can prepare for and compete with! How, you may ask? It is all about choosing a great lender. A seasoned mortgage professional will give you a pre-approval that is virtually like having a blank check. Some lenders are now even sending a buyer's files through underwriting before they find a house! What does this mean for you? It means you may be able to close in as little as 10 days -- just like a cash buyer could.

The best part about my job is that I get to help people, help solve their problems, and help make their dreams a reality! Do you know someone who could use help buying or selling a home in Metro Atlanta or anywhere in the world? Send them my way -- I'll take amazing care of them or connect them with someone in their local market who will deliver the same great service!

Thanks for reading! Have an idea for a future post? I'd love to hear from you! Shoot me an e-mail: Jeff@JeffSellsGeorgia.com or visit me online at http://www.JeffSellsGeorgia.com