Luxury real estate agents continue to close deals at a time when mortgage interest rates have doubled since January.
That’s because cash buyers continue to flock to the Valley with millions of dollars in their pockets to buy mansions in Scottsdale and Paradise Valley. They get bigger homes on larger parcels than what they’ve been paying in other states.
“My last eight sales were all cash and I have four in escrow that are all cash as well — no financing,” said Scott Grigg, founder of The Grigg’s Group.
His clients just closed on two homes totaling $8.1 million.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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