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Investors with cash drive Baltimore's housing market


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#1 lee.watkins

lee.watkins

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Posted 10 May 2011 - 07:51 AM

Cash deals now make up 60% of home sales in City.

The outlook for renting and flipping keeps getting better, but only if you have hard cash - banks still aren't lending. Cash flow is great for rentals that you can buy cheap.

The number of homes bought with cash doubled in the past two years in the Baltimore region — in the suburbs as well as in the city. But much of the action is inside city lines. The 290 cash deals in the city's housing market in March outnumbered cash purchases in the five counties around Baltimore combined


Cash transactions jumped to 77 percent of all home sales in Belair-Edison in the first three months of this year, up from about 58 percent last year.


Cash buyers make up a big share of the city's housing market. About six in every 10 city buyers paid cash in March, compared with about two in 10 in the suburbs.... It's no mystery why investor money is pouring in: House prices keep dropping while rents are rising. Several years ago, it was practically impossible to buy a home in Baltimore and break even renting it out, let alone profit from it. Now investors can find homes for sale at a price that works — even with renovation costs added in.



#2 lee.watkins

lee.watkins

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Posted 10 May 2011 - 07:51 AM

Cash deals now make up 60% of home sales in City.

The outlook for renting and flipping keeps getting better, but only if you have hard cash - banks still aren't lending. Cash flow is great for rentals that you can buy cheap.

The number of homes bought with cash doubled in the past two years in the Baltimore region — in the suburbs as well as in the city. But much of the action is inside city lines. The 290 cash deals in the city's housing market in March outnumbered cash purchases in the five counties around Baltimore combined


Cash transactions jumped to 77 percent of all home sales in Belair-Edison in the first three months of this year, up from about 58 percent last year.


Cash buyers make up a big share of the city's housing market. About six in every 10 city buyers paid cash in March, compared with about two in 10 in the suburbs.... It's no mystery why investor money is pouring in: House prices keep dropping while rents are rising. Several years ago, it was practically impossible to buy a home in Baltimore and break even renting it out, let alone profit from it. Now investors can find homes for sale at a price that works — even with renovation costs added in.






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