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Right now I'm looking at a repo rural west Texas property right now into which to place my small nest egg. However, I also have two farming tractors if things get really bad. My guess is the markets will correct themselves without Congressional interference.
I haven't spoken with my realtor in a couple of weeks but the last time I did he told me things were still moving fairly well in and around Lubbock, Texas. He is handling some commercial property in west Texas for me. Now this property has been very slow to move but not because of a slowing national economy but because it is located in a very small town.
I have cash but I'm waiting right now...most deals are not the best and although i bought a great deal this year, I'm waiting for a better one....I already get calls from realtors who previous told us our offer wasn't high enough and they got higher offers but all mortgage approvals fall through....
For the people who have an issue with people like me looking for a good deal and asking them self if I and others like me feel horrible to buy a cheap deal and others have to leave their homes....mostly I feel very good about it since most of them should never have gotten the mortgage and in the houses I either have bought or had an offer on....90% had a foreclosure like 10 years ago...so I don't understand why these people haven't learned anything and probable are still blaming others and so the same thing will happen again.
I'm against the bailout since in my area all the houses in foreclosure are either 2nd, 3rd homes and many are from professionals in the field who should have know better.....mortgage brokers who are out of a job, realtors who aren't selling anymore and bought homes with ARM's and zero down...should I feel sorry for the professionals ; NO, I don't.
I do feel sorry for the 2700 people who lost their job yesterday due to 13 car dealerships closed, and others in the same situation.
I have cash but I'm waiting right now...most deals are not the best and although i bought a great deal this year, I'm waiting for a better one....I already get calls from realtors who previous told us our offer wasn't high enough and they got higher offers but all mortgage approvals fall through....
For the people who have an issue with people like me looking for a good deal and asking them self if I and others like me feel horrible to buy a cheap deal and others have to leave their homes....mostly I feel very good about it since most of them should never have gotten the mortgage and in the houses I either have bought or had an offer on....90% had a foreclosure like 10 years ago...so I don't understand why these people haven't learned anything and probable are still blaming others and so the same thing will happen again.
I'm against the bailout since in my area all the houses in foreclosure are either 2nd, 3rd homes and many are from professionals in the field who should have know better.....mortgage brokers who are out of a job, realtors who aren't selling anymore and bought homes with ARM's and zero down...should I feel sorry for the professionals ; NO, I don't.
I do feel sorry for the 2700 people who lost their job yesterday due to 13 car dealerships closed, and others in the same situation.
I'm also against the bail out and, although I have stated here on C-D that I thought one was unlikely, the panic that is pushing this incompetent Congress toward passing one is frightening.
Cash is indeed King and I agree that prices are likely to come down further but here in west Texas the prices were bargains before the Dems started talking the economy down.
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