Nearly half of buyers of million-dollar Pinellas County real estate properties from January to August this year paid in full their purchases in cash, based on residential data from the Florida Regional MLS. A total of 59 homes out of the 135 Pinellas million-dollar homes sold over the first eight months of 2013 were fully paid in cash.
| Total Million-Dollar Sales from January to August 2013 | 135 units |
| New Conventional Loan | 68 units |
| All Cash | 59 |
| Assume Conventional | 4 |
| Other | 2 |
| New Private | 1 |
| Owner Financing | 1 |
Most Expensive Pinellas County Single-Family Homes Paid in Cash
The most expensive property bought within this eight-month period was paid fully in cash. It was bought exactly at the price desired by the seller — $4,492,500. It is a six-bedroom 5-bathroom three-story single-family home on Gulf Boulevard in the Belleair Beach area. It has 6,390 square feet of living area on 21,996 square feet of land along the white sandy beach of the Gulf of Mexico.
The second most expensive cash sale over this period is a five-bedroom five-bathroom two-story single-family home with 6,391 square feet of living space on 34,125 square feet of land on Oceanview Drive. It was purchased with $3.5 million in cash. The buyer was given a significant $185,000 in reduction from the listing price.
What makes this property magnificent is its 24 columns that support the structure and at the same time affords residents and guests covered but open spaces to enjoy the stunning views of the water and lush vegetation. The separate guest house, the pool and the three-boat dock surely are additional perks for guests.
Most Expensive Pinellas County Condos Paid in Cash
The most expensive condo purchased in cash within the eight-month period is a penthouse, on the 28th floor of Saint Petersburg’s premier waterfront tower 400 Beach. Residents have the luxury of enjoying beautiful views of the Tampa Bay, waterfront parks and historic structures. The buyer paid $2.77 million in cash, getting $20,000 in reduction from the listing price.
The second most expensive condo bought in cash over the said period is a four-bedroom penthouse in the residential development Tuscany By The Sea that affords spectacular views of the Gulf of Mexico and easy access to beautiful beaches. The property was purchased with $2.5 million in cash, with the buyer getting a significant $175,000 in reduction from the listing price.
Common Features of Million Dollar Homes Paid in Cash
1. They are located on the shores of the Gulf of Mexico or the Tampa Bay.
2. They have stunning views of water, either the Gulf of Mexico or the Tampa Bay.
3. They have easy access to beautiful beaches.
4. They have private pools, with few others having community pools.
5. Most have four bedrooms and three bathrooms.
Oldest and Newest Pinellas County Homes Paid in Cash
The oldest home paid in cash was built in 1930 and was bought for $1.9 million, with the buyer getting a substantial discount of $595,000. It is a four-bedroom English Tudor house that has easy access to both the Gulf of Mexico and the Tampa Bay. It is located in a St. Petersburg community renowned for its Old Florida charm.
The two newest properties bought in all cash, respectively for $1,665,000 and $1,556,000, and were completed this year. The buyers got discounts of $325,000 and $93,000, respectively. The first one is a four-bedroom six-bathroom three-story single family home on Harbor Drive in Indian Rocks Beach and the other one is a five-bedroom four-bathroom single-family home built by Drew Homes in Eden Shores.
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