subject: Cold Hard Cash Good For Real Estate Purchases [print this page] There is no question that we have in our country right now an economy that is not conducive to buying and selling land. In fact, the real estate industry has perhaps been the hardest hit by the bad economy. Some would say that they deserve it because they were in large part to blame for the problems, but before you blame everyone associated with that industry you should look a little closer.
There is no doubt that there were some people in the industry that collectively helped pushed the economy over the edge because of the unscrupulous dealing they had in getting people into homes and other real estate that they could not afford. However, that does not mean that everyone in the industry operated that way. There were plenty of honest, good people in the that industry as well that were responsible in how they sold homes and lots. They did not qualify people with creative financing just to make the sale. These people were victims of this, just like the rest of us. They are out of jobs as well, having a hard time paying the bills and keeping food on the table.
All of that being said, now is really a good time to buy for those that can do so outright. This limits the number of people who can really do this, but getting a loan to purchase a lot is not happening right now, no matter how good your credit is.
So those that can afford to buy property right now with money that they already have are sitting in the driver's seat to make an investment that can make them a lot of money down the road. Those who do this will need to be patient because the economy may take some time to fully recover. In fact, there are many experts who say that it will not return to what it was before because that was a fake economy, inflated by dishonest real estate people. It will though, return to a more normal state and when it does the opportunity to sell land that was purchased at low prices now will have the chance to make a significant amount of money.
This concept is true all over the country, no matter if you are in Odessa, Texas or Boston, Massachusetts. There is land over for sale too, because people need to get rid of obligations or come up with dollars to live on.
