S & J Journal

I want to share this article with you from the  South Florida Business Journal: South Florida led the nation in all-cash home sales according to a study by RealtyTrac . Just over 70 percent of October home sales in South Florida were cash deals, the highest among the Top 50 metropolitan areas. Many of the purchasers in those deals are investors, often foreign investors, or wealthy, second-home buyers. Working families rarely have the resources to shell out cash for a home. Read article.

Despite the sluggishness of national numbers, a few markets are downright hot again. You may recognize some as boom markets from years past. Bidding wars are erupting over some homes for sale in cities like Seattle; Sacramento, Calif.; Reno, Nev.; San Francisco; Washington, D.C.; and Miami, according to the The Wall Street Journal.  The limited number of homes for sale is causing the increased competition at some price points in some cities. Massive purchases of foreclosures by investors have helped gobble up much of the excess. But while sales volumes are increasing, prices aren't yet showing much of an increase, if any, says the Journal.