In late June, Real Bird invited a guest speaker to their webinar who was quite dynamic. I missed the actual session, as I often do, so I listened to the rerun and was very excited by many of the aspects the guest speaker covered. I reached out to her by phone around July 4 (I only remember because I had to tear myself away from the conversation to go to a fireworks display with my family). I left a message, figuring I would not hear back at least over the weekend but guess what she called back. We probably spoke about an hour and I found it a great time of sharing and I really learned a tremendous amount of a very different and refreshing approach to internet exposure – with a focus on getting Listings. I’ve read a huge number of blog and other articles she has and they are equally impressive and straight forward! We also talked about business organization and how to delegate. She was as excited and enthusiastic on the phone as she was on the webinar presentation and I found her very personal with a great focus on family.

I always enjoy spending time talking to individuals who have raised a large family to get their spin on things. She had 9 children and we have 6. She talked about her youngest son and his baseball accomplishments and I told her about my twin daughters who are professional ballerinas. I’m very excited about the connection and I look forward to taking a coaching session and/or course from her soon. I know with the internet and sessions like “go to meeting” etc. we don’t have to necessary meet but I really do hope our paths cross in person at some point, I think it would be like running into an old friend. The Active Rain member I’m talking about is Katerina Gasset. If you ever have an opportunity to hear her speak or work with her you will appreciate her openness with ideas and sharing.

Deborah Laemmerhirt  203-994-4297   www.HomesInConnecticutForSales.com

Having grown up in NYS I became accustomed to having conveniences, we could walk to a lot of places and yet our vacations, even day trips usually took us a long time because the cities were spread out.

Connecticut is extremely special to me.  I was relocated here and it is where I raised my family.  It has the convenience of being about an hour out of New York City, and about 2 from Boston – at least where we live. So we can catch diner and a Broadway show in the NYC or do a tourist type visit to Boston with the children.

I love the history this area is emerged in it – plenty of great day trips to areas featuring colonial to near current day happenings.Connecticut is on Long Island sound so there is marine life and beaches to enjoy as well.And then there are the rolling Litchfield Hills which are currently at the start of their Fall colors.

There is something for everyone here and it seems all within a reasonable drive.  We have a fair amount of relocation happening so it is fun for me to share my favorite spots with my clients as well.  And, many of them are very interested because in 3 years or so they will be moving on again!

Call it the summer of the cash sale.

All-cash home purchases skyrocketed during the summer months of 2013, with their share of total sales growing by more than 40 percent from the beginning of June to the end of August, amid sustained appetite from investors, a recent spike in interest rates and tight inventory.

Cash purchases accounted for 45 percent of sales in August, up from the 2013 trough of 32 percent seen in April and May, according to RealtyTrac data provided exclusively to Inman News.

That indicates that the market share of cash sales has increased 41 percent in just the last three months.

The recent meteoric rise in cash sales’ market share hit its fastest clip yet in August, with cash purchases’ share of total sales jumping 6 percentage points month over month to 45 percent.

That’s the highest level that RealtyTrac has recorded since March 2012, right around when home prices hit their post-meltdown low. Looking back a year, cash sales’ market share was up a whopping 50 percent in August, RealtyTrac said.

What could possibly have driven such a drastic strengthening of cash sales’ hold on the market?

The jump in the cash sales’ share of the market “appears to be closely tied to the recent rise in interest rates,” RealtyTrac Vice President Daren Blomquist said. “From April to August there has been a 41 percent increase in the percentage of cash sales, and during that same time period there has been a 29 percent increase in the average 30-year fixed-rate mortgage.”

Blomquist noted that institutional investors are an increasing share of the market, up from 9 percent in July to 10 percent in August.

There’s also been “a sharp rise in purchases at the foreclosure auction from a year ago, and these are by definition all-cash purchases,” he said.

Indeed, some housing experts attribute the growing proportion of cash sales to a rapid rise in interest rates spurred by statements from the Fed that it might begin to wind down its bond-buying program. Rates on 30-year fixed-rate mortgages began climbing in May, after hovering around record lows, thanks largely to the Fed’s stimulus program.

The jump in rates may have chipped away at demand from buyers who require mortgages, clearing the way for all-cash buyers to seize a larger share of home purchase.

Sustained demand from investors, 10 percent of whom RealtyTrac said were institutional, has swelled the ranks of these all-cash buyers, pumping a steady, strong flow of cash offers into the market.

Though there are signs that home supply is beginning to pick up, a still-sharp inventory shortage may also be helping along cash sales. When sellers receive several offers, which is common when there is scarce supply, they often opt for all-cash offers since such deals are easier to close.

Other recent data have also pointed to cash sales’ strong grip on the market. A Goldman Sachs Group report found that cash sales accounted for slightly more than 55 percent of total sales in July, up from just above 50 percent a year before, while the National Association of Realtors reported that their share of the market had grown from 27 percent to 31 percent during the same period. 

See more here!