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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (1535)	2/4/2002 11:22:51 AM
From: Tradelite	Respond to of 306849

I also know people who have had to pay money at settlement. But again, we're (or at least I am) talking about people who, for whatever reason, did not hold their real estate long-term and were compelled to sell at the "wrong" time in an economic cycle. Each and every person I know who had to pay money at settlement to close out their loan would have made big money on their homes if they had held them thru the next real estate.economic cycle. Had they been so inclined, they could have held onto the house, rented it out and then sold when prices were better. They chose not to do this or felt unable to do so, for various reasons. It was THEIR decision to lose money. There are also people who make poor buying decisions as to location, condition, etc., and these people can and will lose money in some cases. I have a deceased relative who foolishly bought junk land all over the South and wound up abandoning much of it or donating it to charitable organizations because it was unmarketable. I thought the main focus of discussion on this thread was residential real estate, home buying, and investment real estate.