The Real Deal Miami

Cash now king in Palm Beach County

October 01, 2008 11:46AM

Coldwell Banker says it’s seeing a dramatic increase in all-cash sales in Palm Beach County. Linda Lafferty, the broker’s regional senior vice president for Palm Beach County, says 55 percent of sales in the county were done in cash this year, without any financing. That’s up from 39 percent last year. Lafferty says the credit crunch is so severe that she has run across perspective buyers with FICO scores of 800 or more who can’t get loans.