Cash buyers represented more than half of all transactions in the Miami-Fort Lauderdale area last year, according to an analysis from real-estate portal Zillow.com. In the fourth quarter of 2006, they represented just 13% of deals. Meanwhile, Downtown Miami prices rose 15% in 2010 from a year earlier, according to the Miami Downtown Development Authority. Nationally, 28% of sales were all-cash transactions last year, according to the National Association of Realtors.
Buyers are buying homes in all-cash deals, betting that prices are at or near bottom and bringing life into some of the nation's most hardly hit housing markets.
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After so many bad news since the US real estate market crashed in 2007, there are finally some good news appearing in the horizon. There are reasons to be optimistic, according to some experts. If they are right, 2011 may be the end of the housing crash and it might make sense to jump into real estate.
Property asking prices have been the lowest in decades and investors are stepping-up.
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