5
October
2011

More homes being bought with cash

Filed under: Advice for Home Buyers, Back Bay Boston, Boston Luxury Condos, Boston Luxury Real Estate Market, Boston Real Estate Market, Boston Waterfront Luxury Buildings, Boston Waterfront Real Estate Market, Cambridge MA, Carmela Laurella, CL Waterfront Properties NEWS, Featured Sold Properties, Luxury Real Estate, Waterfront Boston. • Tags: , . By

Boston Homes being bought with cashWith tougher mortgage rules and buyers asking for lower prices, the real estate is becoming more of a cash economy as reported in the Boston Globe this weekend.

Homes paid with cash in Massachusetts has reached to more than a third of home sales this year with more and more home buyers opting out of the mortgage process.

August cash sales accounted for 34 percent of the residential real estate transactions.  Some of the areas with the highest percentages of mortgage-free deals include Roxbury, downtown Boston and Cambridge.   One of the most notable sales came from our offices here at CL Waterfront, which was the former Red Sox player Manny Ramirez’s $5.6 million condo at the Ritz-Carlton Towers, exclusively listed and sold by CL Waterfront President, Carmela Laurella.

If you are interested in purchasing or selling a luxury Boston or luxury waterfront home, please contact our offices today.

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