Investors surprised by land deals
Friday, May 4th, 2007DELL CITY, Texas- Maxine Bryant received an ad in her mailbox last year for undeveloped land in West Texas and bought, sight unseen, 20 acres of sorry-looking desert in the middle of nowhere.The Florida woman said the real estate company, Florida Top Land, told her that a Home Depot was coming to the nearby town of Dell City and that the airport—if that’s what you can call a gravel strip along a farm field—would soon be improved.
She said she was led to believe, like some of the 200 or so other customers who bought the company’s pitch and paid $15,000 to $20,000 for a 20-acre lot, that this was a place where “things are happening.”
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