All those Zs had you expecting another ditty about Zillow. You are wrong. Those Zs represent the sounds of our current real estate market.
I am forced to dig deep these days to find something mildly intriguing to report on.
Market trends? Nothing new there. Buyer demand? That one’s a real snoozer too. Even my favorite go-to topics involving the mysteries of the Residential Purchase Agreement fine print or the hilarity that is the termite inspection are as exciting these days as the user’s manual that came with my toaster oven.
Today I’ll keep it simple, and we will get to the topic of cash offers in a minute.
First, I learned this morning that, apparently and thankfully, keeping it simple is a good thing.
I stumbled across this post by Rob Hahn this morning in which he talked about the importance of writing to a large audience and even analyzed his own blog (and a few others) using this site. It seems that, ideally (according to Rob via Google), we should be writing to a 6th to 9th grade audience and that newspapers are generally written at the 8th grade level. Eek! Might I be losing my audience?
Inquiring minds want to know. So I picked a recent blog post at random, (ignoring the more recent post on Fettucinni Alfredo because I heavily quoted the San Diego Union-Tribune who, I now know, writes for the middle school assembly and therefore could contaminate the awesomeness of my higher-level prose). Here is what I found:
Number of characters (without spaces): 7,142.00
Number of words: 1,592.00
Number of sentences: 88.00
Average number of characters per word: 4.49
Average number of syllables per word: 1.48
Average number of words per sentence: 18.09
Indication of the number of years of formal education that a person requires in order to easily understand the text on the first reading
Gunning Fog index: 10.58
Approximate representation of the U.S. grade level needed to comprehend the text :
Coleman Liau index: 8.97
Flesh Kincaid Grade level: 8.99
ARI (Automated Readability Index): 8.75
Flesch Reading Ease: 62.85
What all that mumbo-jumbo purportedly means (and note the use of the big word “mumbo-jumbo” –I just can’t help myself) is that I am writing for 9th graders, although I am proud to say that it takes a 10th or 11th grader to totally, like, get me on the first read-through.
Now, my average “syllables per word” score was a dismal 1.48 compared to Rob’s 1.58 — he used words like “consideration” and “consolidation,” while I used words like “Gisele Bundchen” and “Weebles” – but overall, I stacked up nicely against the way-smart Yale boy.
Then, again, we are not here to impress you or even intimidate. Rather, our goal is to “communicate” (four syllables!). So this morning, I will answer that all-important question, People magazine style.
How special, really, is that all-cash offer of yours?
- If you are making an offer on a home owned by a bank, or on a home where the bank will be making the decision, like a short sale, and there are other offers, your all-cash offer is a good thing. It is a good thing because banks do not like hassles, and loans can be hassles. Not needing a loan is better than needing a loan. But while you may get bonus points, the bank isn’t going to just give the property away as a tribute to your liquidity. In other words, the fact that you have cash does not mean that you will enjoy a 50% off sale.
- If you are making an offer on a home owned by a bank, or on a home where the bank will be making the decision, like a short sale, and yours is the only offer, you may get bonus points, but the bank isn’t going to give just the property away. The fact that you have cash does not mean that you will enjoy a 50% off sale.
- If you are making an offer on a home owned by a real equity seller, the seller does not typically care whether you are paying for it with a bank’s money, your Bar Mitzvah money, a gift from your favorite Uncle Earl, or the loose change from your sofa. The seller only cares that you are willing to pay what the home is worth and that you can and will close escrow.
(Editors note: According to Online-Utility.org, you didn’t understand a word of that unless you are currently rushing a fraternity. Dang, I guess this concept of all-cash offers is more difficult to comprehend than I thought. Hopefully you at least enjoyed the pictures.)