Sullivan Co. leads area in all-cash home sales, institutional investor purchases


By DON FENLEY

Sullivan County all-cash home sales and institutional purchases lead the Tri-Cities again in 2014.

all-cash

All-cash home purchases

According to RealtyTrac’s year-end report, cash sales have steadily increased since 2011 in most Tri-Cities counties with Sullivan and Washington County leading the way.

Instutional invest

Institutional investor purchases

Shifting to institutional sales shows a little softer market. While there has a slight increase in some of the small county markets, Hawkins and Unicoi, institutional investors backed off purchases in the larger county markets – most likely the result of less choice investment properties and higher overall prices.

In the past four years there were 461 residential sales to institutional investors in the Tri-Cities with Sullivan and Washington Co. TN accounting for 76% of those sales.

RealtyTrac defines an institutional investor purchase as a residential property sale to non-lending entities that purchased at least 10 properties in the last 12 months.

Tri-Cities all-cash sales in the last four years totaled 8,277 with Sullivan and Washington Co. TN accounting for 67.8% of the total.

RealtyTrac defines an all cash purchase as sales where no loan is recorded at the time of sale and where RealtyTrac has coverage of loan data.

Nationwide, the annual report showed the share of homes to institutional investors and all-cash buyers dropped to four-year lows in 2014.

The full national report can be found at : http://www.realtytrac.com/news/home-prices-and-sales/cash-buyers-and-institutional-investor-report-q4-and-year-end-2014/

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