“The Oracle of Omaha,” Warren Buffet — who happens to be the world’s richest man with a net worth of approximately $62 billion — this week held his annual Berkshire Hathaway shareholders meeting at the Qwest Center in Omaha, Neb., before a packed house of about 35,000 curious followers.
Aside from being filthy rich, the 77-year-old Buffet has earned a reputation as being one of the world’s most successful investors. His outrageous bank account, of course, helps support that status.
So when he talks people listen. And he did a lot of talking about a lot of things at the most recent “Woodstock of Capitalism.” The national housing market was naturally a topic of discussion.
Here’s what he had to say (via Finance.Yahoo.com):
“In the last few months you’ve seen a real pickup in activity although at much lower prices…. We see something close to stability at these much-reduced prices in the medium to lower part of the market.”
Buffett, according to the article, was citing data from Berkshire’s real-estate brokerage business, HomeServices of America Inc., which is one of the largest in the United States.
It’s not an Earth-shattering report; however, “stability” is certainly a word that most homeowners are happy to hear after the recent rollercoaster ride the market took these folks on over the last few years. And the fact that there has been a noticeable “pick up in activity” at “reduced prices” is certainly good news for buyers looking to score great deals.
Because as Buffet would advise, “Price is what you pay. Value is what you get.” And the value you can get right now at more than likely a historically low price is an opportunity that doesn’t come around very often … so take advantage of it if you can while it lasts.
Remember, you can start that search at no cost with the nation’s top distressed real estate database over at Foreclosure.com.
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