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stanley cup ooming is in San Francisco.The bidding wars are under way and the combatants are armed with cash.In Oakland, Calif., Sara Mertz and her real estate agent Patrick Leaper are finally on the verge of closing a deal. This is the ninth house she has tried to buy. Six months, nine offers, Mertz said.Home prices rise most since 2006How much do Fannie and Freddie still owe us This first-time buyer is ready with a 20 percent down payment. But in today s market, that is not always enough. From our experience, there s not a lot on the market,
stanley cup and so when there is a house that we re excited about, so is everybody else, Mentz said. It took Sara Mertz six months and nine offers before she was finally able to clinch a house. CBS News
stanley cups And many of those everybody else s has cash. A lot of it, Mentz said. Cash buyers coming in with no contingencies at all are closing in 10 days, Leaper said. He hasn t seen this many cash buyers in 40 years.Cash buyers accounted for more than a third 34.1 percent of home sales in California in March, more than double the average a 16.1 percent monthly average since 1988 . They are not just buying foreclosures, they are buying everything. There s a tremendous amount of cash buyers out there, Leaper said. Not just the investor, [or] people who have taken money out o Myuk Shooting Spree Cop Found Dead
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