The New Cash Home Buyer - Are buyers dumping their stocks and buying real estate?

April 19, 2011

There is a new phenomena slipping into our midst - have you seen it?  It is happening all over the country, Cedaredge and Delta County, Colorado, are no exceptions.  It is the cash home buyer - actually not just homes, but land, commercial and ranch properties as well.  I discovered this trend while doing my routine analysis of our Delta County, Colorado real estate market.

Well, this piqued my interest - I immediately went into "Penelope-mode" as in Penelope Garcia on Criminal Minds...  Now if you aren't a Criminal Minds fan, this will not make any sense to you, but those that are KNOW what I'm talkin' about.  I was Googling the heck out of all the different areas of the country, Florida, California, Las Vegas the way Garcia pounds that keyboard looking for the "un-subs" !

Here is what my detective work revealed:  Delta County, Colorado, has had 83 total real estate transactions since January 1, 2011 (according to CREN MLS) - 38 of those were CASH sales - 45% of the buyers came to the table with cash. Interesting... then I found this about the South Florida market, and the Las Vegas market and Orange County, California....
 

Wow, could it be that these buyers are dumping their stocks, CD's (that are paying less than squat in interest) and possibly money market accounts and putting the money into good old real estate?  Sure appears like it to me.  Inflation is fast approaching and we have some savvy buyers out there right now who are ready to buy real estate.  We are ready to help you find that great place for your cash.

Western Colorado is the perfect place to put some of that cash.  We have good fertile land, beautiful views,  and great weather as well as some really great homes.  No tornadoes, earthquakes (at least not yet) or hurricanes.  This is an exceptional place to live, work and play - or just invest your money.

Cedaredge Area Chamber of Commerce Banquet was wonderful!

Cedaredge Area Chamber of Commerce Banquet last night was wonderful and I want to thank all who attended.  The Greystone Restaurant in Eckert served us a delicious meal and the service was great.  We had a really productive 2010!  The directors and members did a fabulous job of coordinating and then working their butts off to support our Surface Creek area.  As President of the Chamber for the second year, I am so proud to have these wonderful people help me accomplish good for our town.

We've already kicked off a new year - don't miss the David Starr concert at The Apple Shed on April 2th to benefit our Cedaredge Community Center Renovation Project.  This will be a new type concert for David - he is going it solo and singing his own music.  Can hardly wait for this - one of my favorite songs is "Change Your Mind".

Are you a member of your Chamber of Commerce?  If not, you should be!  This is an essential organization for your community and your business.  Join today!

SHOULD WE CONSIDER DOING A SHORT SALE?

SHOULD WE CONSIDER DOING A SHORT SALE?  Chances are if you are asking this question, you are feeling desperate....can't make your house payment or haven't made your payment in a couple of months.  You may be loosing sleep at night because of fear.  Maybe you or your spouse have lost your job.  Please don't feel alone and with nowhere to turn.  If you live in Delta County, Colorado, or anywhere in western Colorado, just give me a call -we're here to help!

First, know all your options!  No two situations are alike.  I know that sounds like a bit of a cliche, but it is true.  Every loan is different, your hardship is different and this makes your options different.  There are currently several loan modification options available depending on the type of loan you have.  One of them is HAFA.

DO YOU QUALIFY FOR HAFA (Home Affordable Foreclosure Alternative)?

1)  Is this your principal residence?

2)  Was the first mortgage orginated before January 1, 2009?

3)  Are you behind on your payments now or feel you will be soon?

4)  Is your loan for no more than $729, 750?

5)  Is your mortgage payment more than 31% of your gross income?

Many lenders are working to make a short sale easier to accomplish for those in your shoes.  You may qualify for up to $3000 in relocation assistance as well as being fully released from future liability. Give me a call.  Let me help you get out of this situation with as little pain as possible. 

A Short Sale may be just the perfect solution for you - call me now - don't wait until it is TOO LATE. 

Eileen Liles, Certified Distressed Property Expert

MACHT-LILES Real Estate Group-Cedaredge, Colorado

CEDAREDGE IS A FEW BRICKS SHY OF A SIGN - WILL YOU BUY A BRICK?

CEDAREDGE IS A FEWS BRICK SHY OF A SIGN- WILL YOU BUY A BRICK?  One of the big "issues" Cedaredge, Colorado, has is lack of communicating local events to the public.  I'm sure this is true in many small communities around the country.  But Cedaredge is my home, I love Cedaredge and want to fix this problem.  Oh, yea, we have a weekly county newspaper, even another one here in Cedaredge, but some people don't read the paper.  Many new families move to Cedaredge and they aren't aware of all the wonderful events that happen in this area.

Our Cedaredge Business Development Group began to ponder this problem some time ago and came up with the idea of an electronic message board.  The wheels started turning and we came up with a location that actually belongs to the town - so location is not a problem.  After much discussion, pricing signs and cussing and discussing - we are taking the next step.  Fundraising for the new sign!

Call it my fierce independence, but I want this to be a Cedaredge project, designed by us, paid for by us...no federal grant money, no state grant money, no answering to some government entity about what we can and can't do.  Just make the plan and DO IT!

So right now we have someone actually drawing up the plan for the sign, the base will be constructed out of bricks - bricks with inscriptions - in memory of someone, thanking someone, the name of your business, many possibilities.  We have to sell enough of these bricks to pay for the project. 

More information will be available soon and I hope to get the opportunity to speak to many service organizations in the near future and get them behind this project.  Need a speaker for your next meeting, call me.  I'd love to share this with your group.

SO - WILL YOU BUY A BRICK? 

Eileen Liles, Macht-Liles Real Estate - Search for homes in Cedaredge and Delta County, Colorado.

970-216-0530

CEDAREDGE PARTY IN THE PARK-AUG 28TH 6PM TO 8 PM

Bring your lawn chair, a dish to share and come on down to Cedaredge Town Park.  It's the Annual PARTY IN THE PARK - the David Starr Band will be playing on the Park Stage.  Meat, drinks and flatware will be supplied by the Town.

SATURDAY, AUGUST 28, 6pm TO 8pm - Cedaredge Town Park - COME ON DOWN - YOU'LL HAVE FUN!