During recent conversations with friends and family members I’m asked where the housing market is headed and if I think there’s another Great Depression coming. The fear is real estate will lose another huge portion of its value; when will it all stop.
Well I’ve never shied away from giving my perspective on such matters and I think something we should all note is the attitude of the man who is considered the greatest investor of all time – Warren Buffet. As I have mentioned before, he has purchased $8B in preferred stock. Even more dramatic is that $5B of it went to a financial company (Goldman Sachs).
Not only is he not running scared, he’s running strong with this market – taking ground and improving his position. We all know there are some tough times ahead, and so does Warren. But he demonstrated his ultimate faith in the economy, in the markets and in the fact that now is the time to gain ground and not pull back.
Well done, Mr. Buffet, you’re a good role model for all of us.
The fact remains over 2,000 residential properties have sold in Stark County in the last 6 months; 30% of which sold in the first 30 days they were on the market. It is a great time to be in real estate, particularly if you are a first time buyer, moving up to a larger home or an investor. Interested in more positive facts, contact me anytime.
Stay tuned. And oh by the way... I'm never too busy for your referrals.
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