Buyers and Sellers for condo properties in Downtown San Diego92101 zip code should be mindful that over the past 24 months, 35% of the sales have been cash sales.  Yes, cash does take priority over financing in most cases, but it does not put the buyer in a highly superior position.

For the second Quarter of 2011, we saw 38% of all of the sales for real estate in Downtown San Diego were cash transactions.  I recently represented a buyer on making an over full price cash offer with a 7 day close and the seller chose a different offer.  Although cash does give an advantage, it doesn’t guarantee a discounted price all the time.

Cash buyers can expect to have more superiority on purchases over $600,000 as the market at and above $600,000 remains relatively flat while the market at $450,000 and below is really competitive.  There are a lot of cash investors interested in purchasing and renting with the idea of selling for a profit  at a later date.