Home to the famous Kuma’s Corner, where heavy metal and burgers come together in perfect harmony, Avondale is a neighborhood that marches to the beat of its own drum. But there’s so much more to this area than just killer burgers. From a retro bowling alley that was lovingly restored to a thriving but still-affordable housing market, there are plenty of reasons to love Avondale. In this article, we’ll explore 10 things that make the neighborhood attractive to newcomers and long-time residents alike.
Today, more and more homes are being purchased with cash. In fact, according to the National Association of REALTORS, almost 30% of existing-home sales in January and February 2023 were all-cash transactions vs. those financed with a mortgage, and for the past six months, cash buyers have comprised more than a quarter of the total market.
There are many reasons why cash offers are on the rise including:
- Today’s higher mortgage interest rates
- Intense competition for a limited supply of homes
- Current stock market volatility, which has made hard assets like real estate more attractive
- The household wealth that was created via the longest bull market in U.S. history (2009-2020), the subsequent pandemic stock market rally, and the pandemic-fueled housing boom