Nicole Friedman

speaker

798 appearances 16 recordings 1 series first heard Aug 2017 last heard Dec 2024

Nicole Friedman’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Startups Help Homebuyers Win the Bidding War... With Cash · 21 Oct 2021 podcast

So there's really strong demand from buyers. matched

And at the same time, the number of homes on the market is very low. matched

And so there's a real mismatch between supply and demand, which means that a lot of homes that are on the market are getting multiple offers and there are bidding wars. matched

One reason that the inventory of homes for sale is so low is that a lot of people want to move. matched

They want to sell their home and buy a new one, but they're worried if they put their home on the market and sell it that they won't find anything new to buy. matched

That a lot of sellers feel a little bit trapped in their homes that they don't want to be buyers in the current market. matched

So in general, cash is attractive to a seller because the deal is likelier to close quickly. matched

There won't be delays due to the financing and also a financed offer. matched

There's the potential that it falls through. matched

Maybe something comes up later in the process with the underwriting or maybe the person loses their job and their mortgage falls through. matched

There's all sorts of reasons that even somebody who's a well-qualified buyer might have issues during the financing process. matched

So cash offers are considered a little bit more of a certainty that the deal will actually close. matched

So all cash sales accounted for 22% of existing home sales in August. matched

And that's up from a year earlier, August 2020, it was 18%. matched

And that's from the National Association of Realtors. matched

So not automatically. matched

When you talk to sellers and sellers' agents, they say it's the whole package, right? matched

So of course, price matters a lot if there is a financed offer, but it's significantly higher than a cash offer, then many sellers are still going to take the higher price. matched

But there's also lots of other things that sellers might be looking for. matched

Maybe they want matched

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