Volume 53 | May 30th, 2024
Robert Stroede - Realtor - SimpliHOM - 615.762.6572 - 855.856.9466 - robertstroede@simplihom.com
Your Middle Tennessee Real Estate Update
Cash is King!
You've probably heard the saying "Cash is King!" Well, it definitely holds true in the housing market and we are seeing it in full force right now! According to the National Association of Realtors as of January 2024 the percentage of cash buyers had surged to 32%. Full article here! In the last month the number of cash buyers was 40%! So, the question looms, Why?

During COVID, cash was king because of the multiple offer situations. Cash offers always have been and always will be more desirable by sellers. Accepting an offer with a mortgage carries more risk to the seller as there is always an opportunity that the mortgage may be denied prior to closing.

However, the market today is much different than it was during that time. Today, cash buyers are taking advantage of the slower market and using their cash to get discounts on properties that have been on the market for a bit or to approach sellers who are in a "must sell" situation. In a study from the University of California, all-cash buyers pay 10% less for a home than those buying with a mortgage. (Full story here!) As a cash buyer you hold a trump card in negotiations.

So what is the real story here? Currently cash investors are coming back into the market and taking advantage of high interest rates which are slowing the market. As a cash buyer, now is a great time to consider making an investment. Most investors will target properties that have been on the market for 30 days or greater or those that have had multiple price drops, showing a desire for a quick sale.

If you're interested in getting on the list I send out of these type or properties, send me an email and I'll get you added robertstroede@simplihom.com

On a Personal Note
My brother and I have wrapped up construction on our new Short Term Rental, the Tall Pine Lodge, in Wisconsin Dells, WI and now have it listed on AirBNB. If you'd like to see it or maybe even take a trip to the "Waterpark Capital of the World" you can check it out here!

If that last sentence made you think, why would a small town in Wisconsin be called the "Waterpark Capital of the World"? You're not alone in being surprised, but it's true. Wisconsin Dells, WI, a town with only about 6,000 permanent residents has more waterparks per capita than any other place in the world! It is a very unique place filled with lots to do for the family as well as a beautiful natural setting. If you're interested in learning more about the Dells, click here.

The completion of this property marks a big milestone and also is another step towards my goal of building my real estate portfolio. If you have questions about short term rentals, property investment, or any other aspect of real estate, please don't hesitate to reach out!!!
Working for my Clients
Check out this beautiful, newly listed home in the highly sought after neighborhood of Riverside in Columbia, Tennessee. This beautiful home has been fully renovated and is move-in ready. You can check it out here!

Just Closed!!! My clients just closed on a beautiful piece of vacant land where they plan to build a beautiful home for their family. I'm excited for my clients as they move into this new chapter and can't wait to see their new home when completed.

No matter what you're looking for I can help you anywhere in Middle Tennessee!
Have you been looking at homes by going to open houses and doing "drive bys" because you don't want to "burden" a Realtor?

You should never feel like a "burden" when working with a Realtor. As a Realtor I'm here to be of service and value! Have questions? Need guidance? Need a new Realtor? Call Me: 615.762.6572
Come Join my New Construction Group!