Posted by NY 986 on September 05, 2010 at 09:45:16 from (166.203.161.243):
In Reply to: Re: Land Values posted by fuzz48 on September 05, 2010 at 05:26:31:
I'm kind of thinking the same thing. Some guy in Jersey or Eastern Mass. can cash out a ranch home and few acres out for 3/4 of a million (having a much lower basis in the property) and move someplace else and all of a sudden they are king of their new neighborhood. I have already heard from a number of people that gimmick is losing steam. I think people should heed the banks and value real estate on more of a historic basis than the highs of the past few years. If you go ahead make sure it cash flows easily if times get tough.
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