The old adage rings cash is king. 2011 was the poster child for cash.
Arizona Regional Multiple Listing Service (ARMLS) is reporting that in 2011 47% of of it’s subscribers deals were cash. No mortgage, no 3 party financing just good old fashioned cash.
If you look at approximate numbers, ARMLS is reporting a hair over 100,000 deals completed by subscribers in 2011. If the median sales price was $120,000 and 47% of deals were cash thats over $5 billion. That represents some pretty big bets on the Arizona housing market, a good proportion of that by investors.
There’s still deals out there to be had. Especially if you have the cash to get them done.