Warren Buffet is known world wide for his investing experience. He is a self made Billionaire with his firm Berkshire Hathaway currently valued over 74 billion dollars.
Lately, Warren Buffet has been investing heavily in the housing market. He claims that this is a great time to buy with interest rates at all time lows and drastic price declines across America. Buffets secretary, Debbie Bosanek, has taken Mr. Buffet’s advice and recently purchased a second home in Arizona!
The Phoenix market seems to still be red hot regarding homes priced up to $200,000. I listed a home for $195,500 3 days ago and received a full price offer today. The seller has been swamped with people looking at her home during one of the traditionally slow times of year.
The prices in Arizona fell from 50%-60% so there is a long way to go before many homeowners are not upside down. For buyers it appears to be a great time to buy and especially if you subscribe to Warren Buffet’s philosophy!