Just did 92130 and some things here surprised me a little
attached
55 sales of which 12 were all cash
6 were primary residences
6 were investors one of which was an ibuyer that is gonna turn around and sell it
Only 1 of the investors had a Chinese surname and 1 of the primary residences.
Detached
60 sales of which 12 were all cash
Not one showed any indication of being an investor. 6 were clearly primary residences. The other 6 were likely primary residences but 2 or 3 could be second residences.
Only 2 had Chinese surnames both in the defintely primary residence category
The three surprises to me was the same roughly 20% cash buyers Ive seen in other zips so far. The other was dispelling the notion of an influx of cash Chinese buyers as most are Chinese-American residents using financing. The third is the low level of Chinese investors in CV who seem to prefer the lower priced nearby offerings in UTC, MM and PQ from what i am seeing
So far seeing no evidence in the data of what DZ has said. Im seeing wealthy folks fully capable of paying cash making up the cash buyers.
I also saw a couple more Flyhomes buyers. They must be writing contract guaranteeing cash but all are closing with mortages with flyhomes as their lender. Its basically a way of appearing to be stronger as a buyer and using a lender who is probably charging you a higher rate for that privilege. They dont show up as cash sales
