Domain Homes’ founder and president, Sharon McSwain, was interviewed for today’s Wall Street Journal real estate article.
The Wall Street Journal published an interesting article today about all-cash home purchases being on the rise, particularly in Florida. Sharon McSwain, Domain Homes’ president, was quoted in the article as well as one of our homebuyers who is anticipating the completion of her new home in St. Petersburg. We would like to congratulate and thank Sarah Mines for doing the interview on short notice yesterday.
The following is the section that mentions Domain Homes:
In Florida, cash purchases have held steady in the mid-50% range, making it the biggest state for cash deals. The state draws from two pools of typical cash buyers: retirees and foreigners. The latter have had difficulty getting mortgages in the U.S., partly because their credit histories aren’t established here, said Brad O’Connor, a research economist with the Florida Realtors association.
Meanwhile, the increase in all-cash sales goes beyond existing homes. Domain Homes Inc., a builder in Florida’s Tampa Bay market, previously did few sales to all-cash buyers. Yet in the past year, 20% of Domain’s sales were all-cash, President Sharon McSwain said.
Two of Domain’s buyers are Sarah Mines and John Geddes, a paralegal and author, respectively, who are purchasing a new, 1,800-square-foot home in St. Petersburg from Domain for $300,000 in cash. The British couple currently is renting an apartment in the city.
“We didn’t apply for financing, because we have the cash,” said Ms. Mines, 40. “I’m done with mortgages.”
Whether you are an all-cash house hunter or you need to arrange for financing, Domain Homes offers the Right Value and Right Choice for new homes in South Tampa and new homes in Pinellas County. Stop by the Domain Headquarters at 5701 S MacDill Avenue, Tampa to learn more about our unique approach to home building and buying. For more information on our homes or our special financing incentives, check out our website www.domainhomes.com and be sure to “Like” us on Facebook. Call 813-413-4154.
This is not the first time that The Wall Street Journal has reached out to us for insight to a story and we are always happy to oblige. Last March, The Journal published an article about why buyers were choosing new over pre-owned homes at a rising rate.