In the Midst of Deep Recession Real Estate Firms Like Continental Ventures, LLC Offer Hope to Buyers with Damaged Credit

    AVON, CT, July 31, 2009 /24-7PressRelease/ -- Things are tight out there. Banks don't want to lend. Even if you have perfect credit, you're going to have a hard time buying the house of your dreams or that perfectly situated piece of land in a golf resort community. Maybe you had plans of retirement and spending your days fishing or canoeing from a house built on land purchased now. If you have damaged credit, you can pretty much forget about buying a home unless you're sitting on top of a huge pile of cash. The odds are worse than slim.

Buyers are not the only ones affected. Sellers too have been belly punched by the lack of available credit. Without banks willing to lend, there are fewer people qualified to buy, which translates to months or potentially years of waiting for the right buyer to come along.

Enter seller financing. Some sellers, seeing the writing on the wall are offering to finance the purchase themselves. This allows sellers to get around the need for banks, although this option won't work for cash starved sellers. However, for those who would be satisfied with a steady monthly income, seller financing is a nice end run around the whole credit debacle.

Continental Ventures which sells residential building lots through its website sterlinghomesites.com is one of those sellers that has seen the need to offer seller financing to its buyers. Gary Jones, Managing Partner doesn't see the trend ending any time soon.

"During the heyday, you didn't have to do any work. All you had to do was let people know what you had and it was as good as sold. Now you have to be creative and try to open doors for buyers that have been shut by the banks."

Jones also likes the fact that buyers have the opportunity to repair credit damaged by the long recession.

"We don't do credit checks. Although it sounds crazy, research has shown that the vast majority of people with tarnished credit make good on their loans. Since the payments show up on their credit reports, it also gives them a new lease on life. It gives them the ability to buy land at an affordable price to build on when the economy turns around and in the meantime their on time payments are polishing their credit report for the future. Its a win win situation."

Experts disagree as to when the recession will end. But any reading of the tea leaves will indicate that it could be around for a while. In the interim, seller financing is offering buyers the chance to invest in real estate without having the deep pockets of traditional real estate investors.

In times like these, any lifeline is welcome. The ability to buy real estate without having to qualify through a bank is a great leg up. Companies like Continental Ventures are providing that leg up and and are offering hope where the common wisdom says that none should exist.

About Continental Ventures, LLC

Continental Ventures, LLC is a real estate company with over a decade in the real estate business. It sells building lots direct to consumers throughout the United States.

Visit http://www.sterlinghomesites.com

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