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Ruth Ann Manison

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Prince Properties, LLC

Ruth Ann on Real Estate

I hope you enjoy my thoughts on real estate, market statistics, how-to's, and pieces I find interesting on buying, selling, remodeling, new construction, investing, and saving your resources.

Buy Land While It's Cheap - They Aren't Making Any More

June 26th, 2010

Hedge Fund Bets on Land
Hedge Fund Paulson & Co. is now betting that land is undervalued. It is bidding on 8,000 residential lots in Arizona, Colorado, and Nevada, owned by home builder Tousa Inc., which is in bankruptcy.

In other areas, builders are making similar wagers, snapping up property while it is cheap. They are in agreement that values will increase. It is only a question of when.

"The real risk is timing," says John Burns, an Irvine, Calif., home-building-industry consultant. "It's hard [for investors] to realistically estimate when they can sell and for how much."

Source: The Wall Street Journal, Lingling Wei and Robbie Whelan (06/23/2010)

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