While some cash buyers are buyer-occupants, they are very few. Most cash buyers are speculators, who syndicate investor cash to make their acquisitions. Owner-occupant buyers determined to compete with speculators pay a hefty price. Tell us about your experiences with owner-occupant bidding during this speculator bubble!
Want to learn more about speculators in today’s housing market? Read the articles below!
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I’ve been a Realtor since 1993 and find this market the most disheartening to date. For the most part I work with regular buyers who must obtain a loan to complete their purchase. The end result of this is usually very discouraged owner occupied buyers, even though they are very well qualified and in some cases even have a good down payment.
I see this current market not helping the neighborhoods in the long run. Owner occupied buyers have a much greater interest in making the neighborhood a better place. Investors, on the other hand, are only looking for the cash flow potential and beyond keeping their investment making money, have no vested interested in doing anything toward making the neighborhood a better place.
I foresee the day when these investments are not paying off and so the investors dispose of them. I hope when that happens there will be enough buyers who can afford to purchase or want to own again so that we don’t have a blight of unsold homes in our neighborhoods again.