[quote=briansd1]bearishgirl, can you please give us some data.
Please list the parcel #s of out-of-state/foreign buyers who do not claim the homeowners exemption and who paid with cash. That can easily be verified at at the County Recorder’s office.
If there are only 12 or 14 then please bring the data.
I believe that there are many reason for real estate being propped up. But I don’t believe cash foreign buyers are the reason, at least not in San Diego.[/quote]
I’m not sure what you’re asking here, brian and don’t think there are databases available to the public that will answer your question, without a lot of legwork being put in.
I never stated that cash sales were propping property values up, only that cash sales were stiff competition to the average Joe (or Pigg) in highly desirable “niche” markets.
Whether an American or foreign RE buyer in SD County who paid with all cash took the HOEX or not is inconsequential. The result is the same. The property was taken off the market, having sold for all-cash.
Zip codes that I’m familiar with which have higher percentages of all-cash sales are 92118, 91910 (part), 91902, 91914, 92106 (part), 92107 (part), 92109 (part), 92037 and 92014.
I would think that properties within the covenant would appeal to American all-cash buyers over foreign all-cash buyers. Not sure what the incidence of all cash-buyers is within the covenant.
Maybe other Piggs more knowledgeable about the details of resales which transpired in their respective areas can assist here (or start a new thread . . . lol).
