Warren Buffet Says Now is the Time to Buy Homes
During Warren Buffett's recent interview on CNBC Squawk Box he made a bold statement...."if I had a way of buying a couple hundred thousand single-family homes...I would load up on them and...take mortgages out at very, very low rates…it's a leveraged way of owning a very cheap asset now and I think that's probably as an attractive an investment as you can make now."
That is a pretty strong statement on the current real estate market by one of this generation's best investors. Warren Buffet clearly thinks the fundamentals are right to jump back into the market.
We are seeing more and more savy investors jumping into the Scottsdale real estate market with both feet. We hit the bottom of the market in September and are on the swing back up. Home prices are still 40-50% off of previous highs so the deals are still available. Competition of the best Scottsdale homes is making the purchase process a bit of a challenge right now. The inventory levels are so low it seems to be a feeding frenzy for the best foreclosures at times. But those who are persistent are able to buy wonderful investments.