Cash buyers snatching up homes
“I said, ‘This is a recession. No one is looking at houses,’ ” the cellphone salesman says.Dorado, 25, found his first love in February, a 1,200-square-footer in this Sacramento-area suburb. Before he put his offer in, he took his parents to see “where I was going to live,” only to discover the house was already sold.He lost more than a dozen other bids on homes, often to cash-packing investors, before he landed a $134,000 fixer-upper in May with a low-down-payment Federal Housing Read more [...]