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Time to buy real estate.
By Robert Thomason
Is it time to buy real estate? Yes, it's time to buy. All the air is out of the real estate bubble and buyers now have the upper hand. The "smart guys" who bought real estate to "flip" it have crashed and burned. Buyers who followed traditional methods of handling their personal finances have the advantage in today's market. Sellers are motivated. I heard of a situation in my home town where a man whose house had burned and received his insurance settlement for $120,000 decided not to rebuild his house. He went to a new subdivision where houses were on the market for $250,000. His offer of $120,000 cash for one of these houses was accepted without hesitation and he's moving into a brand new house. Once again, cash is king in a bad economy. There are many lending institutions that did not get involved in the nitwitery that has crashed the Wall Street crowd. Typically, these are smaller, home-owned banks and credit unions that are sound financially. They are making loans everyday to credit worthy individuals. Once again, the smart set on Wall Street proves that you just cannot repeal the laws of economics. Loaning money to people who can't pay it back doesn't work. Buying securities backed by loans to people who can't pay their loans doesn't work. I fear that the American taxpayer will be cleaning up this mess for years, thanks to the politicians in Washington, D.C. |
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Adlandpro
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eztime.cashhosters2.com/adland.html
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