The best time to buy a house in cash is now. It has been reported that in November 2015, most sales of homes and condominium were all cash. RealtyTrac has reported that these sales were from 29.8% - 38.1%.
That is a great thing to hear since before this time there are more numbers of houses are being financed and loaned, than being bought in cash.
According to Darren Bloomquist, vice president of RealtyTrac, these cash sales of houses were are all temporary. He mentioned that it was because of the new federal rules in terms of loans and how they are disclosed which he said was the culprit of slowing the processing of the loans.
Because of this "cash buyers have an even bigger leg up on finance buyers than they did before," Bloomquist said. This makes it better to buy a house in cash than in loans. This is just the beginning, and soon enough, when people will get comfortable to the new rule, these cash sales will eventually go back to the 30% level area where it was used to be back in 2000.
With the tanking of other countries economy it looks like the foreigners have their eyes set to the US for owning a piece of their land. There were also reports that there are now more wealthy foreigners who are hedging up properties in the US, against their dropping economy. This is a big caveat to the property sector, because the global economy has a questionable stability right now, and some economist are saying the will not end very soon.
If this is the case then the better way to buy a house is to check on foreclosed properties where you can find a better price for the kind of house you want.
