I'm not sure about the Rich part, but if you ever wanted to own property in Southern Calif., now is the time to be a serious buyer. Just remember!! Great Deals aren't found-Their negotiated.
Mathews Realty Group
R.E. Advisor/Investment Services
Self Direct IRA/Self Employed 401K Specialists
Distressed Sales in Southern California Remain High
Southern California’s distressed home sales – the combination of foreclosed home sales and short sales – made up more than half of February’s resale market.
Foreclosure resales accounted for 37.1 percent of resales last month, up from 36.8 percent in January but down from 42.4 percent a year earlier.
Absentee and cash buyers – primarily investors – are purchasing these homes in record numbers.
Cash buyers accounted for a record 31.7 percent of February home sales, paying a median $200,000.
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