Hot Market ... Will Waterfront Values Drop?

[TheTimeTraveler]

Originally Posted by Descant

I'm very curious where these buyers are from--That's a huge overbuy and would add considerably to the down payment if a mortgage is involved because of the loan to value ratio requirements Can 't see that somebody local would be in a rush to move, at least not a $200K rush. Of course, that buyer info isn't easily available in many cases.

It very well may be a "cash" buyer and an appraisal or a down payment would be irrelevant.