HOW? – FINANCE THE PURCHASE STATS SHOW THIS TO BE TRUE LOOK AT THE NUMBERS BELOW!
During 2012 there were 370 Luxury Homes and Mansions sold. The most expensive sale recorded was a $10.5 Million Dollar Mansion sold by the Bank in Paradise Valley. The numbers below will clearly show that paying cash does not mean you are getting the lowest possible sales price. Conventional financed buyers paid less average price for a home vs. paying cash. Cash is great because it’s quick, easy, and never questions a buyers credentials but it limits in my opinion the strength of negotiation by avoiding an appraisal. Not that a buyer paying cash avoid the appraisal but in a financed sale the bank will only lend appraised value (75% of appraised value) and many times even though you can afford to come out of pocket to close the deal you should let the seller know you will not pay excess of appraised value and see how they react (little hint to negotiations here). I always advice my clients to get a few appraisals on any property they are purchasing. But enough of the appraisal and buying this blog was posted to show the % of buyers paying cash Vs. Conventional vs. Other. As always Conventional rules but cash buyers are not that far behind. Other financing would be seller carry back, wraparound, leas option, etc.
Oh yeah the more expensive price tag a home is listed the longer it will sit on the market. Expect anywhere from 150-600+ days on the market. Yes there are some homes that sell within a month or day on the market so if you would like to find out how this occurs and what it would take to sell your home fast and for top dollar begin by calling 480.458.8007 and scheduling a Private Marketing Consultation!
Buying or Selling a Luxury Home or Mansion in Paradise Valley
Call 480.458.8007 or email LavishPadBoutique@Gmail.Com
For a Private Consultation.
Paradise Valley
| Sold Price Range | Sales | Cash(no) | Cash(%) | Conv(no) | Conv(%) | Other(No.) | Other(%) | AverageDays on Market |
| 500,000 – $799,999 | 95 | 41 | 43% | 54 | 57% | 0 | 0 | 146 |
| 800,000 – 999,999 | 57 | 24 | 42% | 32 | 56% | 1 | 2% | 166 |
| 1,000,000 – 1,249,999 | 46 | 18 | 39% | 27 | 59% | 1 | 2% | 198 |
| 1,250,000 – 1,499,999 | 44 | 18 | 41% | 25 | 57% | 1 | 2% | 175 |
| 1,500,000 – 1,749,999 | 34 | 14 | 41% | 19 | 56% | 1 | 3% | 164 |
| 1,750,000 – 1,999,999 | 34 | 13 | 38% | 20 | 59% | 1 | 3% | 244 |
| 2,000,000 – 2,999,999 | 40 | 22 | 55% | 16 | 40% | 2 | 5% | 251 |
| 3,000,000 – 3,999,999 | 15 | 9 | 60% | 6 | 40% | 0 | 0% | 411 |
| Over 4,000,000 | 5 | 5 | 100% | 0 | 0% | 0 | 0% | 594 |
| Total | 370 | 164 | 44% | 199 | 54% | 7 | 2% |
Cash Vs Financed Average Purchase Price
|
Cash |
Conventional |
|
|
500,000 – $799,999 |
$649,808 |
668,100 |
|
800,000 – 999,999 |
$900,708 |
887,281 |
|
1,000,000 – 1,249,999 |
$1,138,750 |
1,137,744 |
|
1,500,000 – 1,749,999 |
$1,369,056 |
1,337,780 |
|
1,500,000 – 1,749,999 |
$1,611,271 |
1,609,670 |
|
1,750,000 – 1,999,999 |
$1,860,500 |
1,855,643 |
|
2,000,000 – 2,999,999 |
$2,237,471 |
2,380,813 |
|
3,000,000 – 3,999,999 |
$3,380,812 |
3,201,667 |
|
Over 4,000,000 |
$6,490,000 |
None |
Buying or Selling a Luxury Home or Mansion in Paradise Valley
Call 480.458.8007 or email LavishPadBoutique@Gmail.Com
For a Private Consultation.
Lavish Pad Boutique
8930 E. Raintree Drive Suite 200
Scottsdale, AZ 85260
Office 480-458-8007 | Fax 480.767.7200
email: pesqueira2@cox.net
LavishPadBoutique@GMAIL.COM
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