Did You Pay Cash For Your Hudson Valley Home?

The real estate market is heating up in the Hudson Valley. So much so, that more and more people are paying cash for their homes.

An article in the USA Today takes a look at the all cash phenomenon and it's not just sweeping the area, its happening on the national level too. The reason home sellers prefer the all cash is, sure they get their money quickly. But also when it comes down to getting approved for a mortgage, there is a clause in most contracts that say if the buyers are unable to get approved for a mortgage then their deposit is refundable.

You know things are starting to get competitive when a national publication like USA Today does a feature story about how more Hudson Valley homes are selling for cash. Must be nice to have that kind of money. So basically in comes the rich guy, who has the clear advantage over the middle class family, who gets the house.

CoreLogic is a property data company who states that approximately 25% of all home sales are made in cash.