I agree with both Sharon and John. 8% is good as an average. 8%+ is better. For nowadays, 7% is more practical, but is not for everybody.
But as John stated, existing 4-5% doesn't make any sense for domestic investors (some exceptions for 1031 exchange in this limited supply market). However, lot of international money is coming in, from China, Russia, UAE, etc. - all cash buyers, limited contingencies,....... you name it.
Aug 1, 2014