Racing to Buy Homes Sight Unseen

In my real estate business here in the Silicon Valley, I worked with many first time home buyers. Many of those first time home buyers are working families where both the husband and wife are working, often in a high tech company such as Google or Apple and with a couple of kids. As well paid as they are, often times in the last year or so my clients have had to compete against some fierce competition from the investor community. Many of my buyer clients are buying with a home loan which is all well and good, but when you are a seller and you have the choice between taking an offer from a buyer with a loan or taking an offer that is All Cash, most likely you're gonna take the all cash offer simply because you can close quicker and such offers are usually less headaches.

Now it seems, according to this article in the Wall Street Journal, there is a growing number of big time investors who are buying homes without having even seeing it based solely on numbers and other data! Personally I haven't seen any investors making offers sign unseen, at least on my listings, but I have seen investor and first time home buyers from China and India making all cash offers.



Racing to Buy Homes Sight Unseen
Residential real estate to be the next frontier for speed-based investing