Wednesday, May 9, 2007

Consider buying

I learned a valuable lesson as a boy, when I was lucky enough to spend a month living on my Uncle Weldon's farm one summer. I was 9 or 10 so it was probably 1968 or 1967. For a young boy, this was a great adventure in itself.
A man came by and was talking to my Uncle Weldon and the man made note of how much land my Uncle had owned. My uncle pointed out, with the exception of one house, if you got on his farm house and looked, every thing you could see in all directions he owned. Well, that was because there was a small patch of tall trees that blocked other people's property. But Weldon did own all the property up to the mountains and there were three lakes and a small creek that ran through it. He owned a lot of property and fourty or fifty cows He grew suger beets and milked the cows for income, he also grew hay some of which he sold.
The man asked Uncle Weldon how he acquired so much. Weldon said he subscribed to the Farm Journal or some such magazine (keep in mind I was 9 or 10 at the time so I don't remember the name of the magazine).
Weldon then said, If the magazine recommended buy cows for example, he went out and sold all of his cows. If it said to sell cows, he went out and bought as many as he could buy.
Even at that age I could understand that if everyone wants to buy the price would go up and if every one wants to sell the price will go down.
Later when I became a commodity broker, this idea helped me make money for my clients. Today I am a real estate broker who uses creative finance as a tool to help people buy and sell homes and other types of property.
First let me say that real estate prices most likley are going to fall some more, yet I have been around long enough to know that I don't know that for sure, and neither does anyone else. But, I do know that because of the perception that lower prices may be on the way, sellers are becoming "flexible."
In other words, it is much easier to get sellers to assist with some seller financing in this market. Unless you are putting down 20% on the purchase of a home, seller financing can save you a bundle in the way of a monthly payment.
For more information you can call me direct at (866) 404-2898 or visit one of my websites, there is www.homevalueshuntingtonbeach.com and www.2ndchancemortgage.com

Thankyou and until next time, this is RichLittlefield wishing you a blessed day!

No comments: