Help me Out, Here
February 13th, 2009Two Things
Do me a little favor.
My family is negotiating to sell a piece of property. A bunch of us own it together. I was not all that happy about the decision to sell it, but for various reasons, it may be a good idea. That all hinges on the price, of course. If the buyer thinks the economy is going to recover quickly, we may get a good price. I think our economic problems haven’t really started yet, and that real estate is going to continue to fall, and that cash is a good thing to have at this time.
Would you mind saying a prayer that God would watch over the negotiations and give us a good result, whatever that may be? I would truly appreciate it. I’m not sure selling is the right move, but if we do sell, we need to be paid fairly, and we need guidance with the disposition of the proceeds. These days I am trying to remember that my money belongs to God, and that when I spend or invest it, I should ask myself if I’m doing something of which he would approve.
Also, don’t forget Mish, who is depending on your prayers in Israel.
Thanks.
February 13th, 2009 at 2:03 PM
I too have famrland land that’s been in my family–various parts for between 70 and 170 years.
Remember that they’re not making any more land other than that produced or reduced by “global warming/climate change” influenced oceans and volcanic activity.
If you have no cost of ownership other than taxes and keeping the fences up around the perimeter I say holding is in order short term unless they’re building a mall or a Home Depot on top of it.
The worst you’re looking at is increased capitol gains taxes after 2009, but the depressed market will definitely hurt your paper gains from say…selling in 2007.
Good luck.
February 13th, 2009 at 3:36 PM
It’s commercial, and there are rumors of a big road going through it, which would affect the value.
February 13th, 2009 at 11:24 PM
Steve if the buyer is anyone with the last name of Greer, hold out for more money. They are notorious in these parts, for buying cheap. They know when the roads are coming through since they are in the road building business.