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| You are right on all four points. Two more things : 1) I think there is always about half the population that thinks land is too high and is going to go down tomorrow morning. I remember watch a big auction and the guy standing me said " They are just going to give it back to the Indians," That was about 1986. That was land that was Deed in lieu of foreclosure. 2) Farm Credit would take land back from one guy who was stuck with high interest then turn around and sell it to someone else at the new market price on a Contract for deed at pretty decent interest rates. I knew of at least two cases of that. I had a friend couldn't make his payments. He had an old friend with a lot of money in the bank. His old friend loaned him enough money to buy quite a bit of it back at the market price. | |
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Crazy Land Auction
