"If You Wait for the Robins Spring Will be Over"

Warren Buffett, the “Oracle of Omaha,” has often been quoted for his investment philosophy, “Be fearful when others are greedy, and be greedy when others are fearful.” Buffett repeated that philosophy today in a New York Times opinion piece, where he said he’s buying U.S. stocks for his personal portfolio to the extent that they will soon comprise 100 percent of his account.

In his Times piece, Buffett agreed that the current economic situation has plenty of negatives, including rising unemployment and slowing business activity due to the credit crunch. Stocks, however, will likely begin to rise before the economy and consumer sentiment show signs of recovery. “So if you wait for the robins, spring will be over,” he wrote.

This is also true for real estate, if you wait to buy till everyone else is felling confident in the market, then values will already be on the rise. You cant time the market perfectly, we never know the bottom till hind-site. With multiple offers on almost every bank owned foreclosure, the bottom of the bottom is near if not already here.

You can read the complete Buffett opinion piece on the New York Times website by clicking here.


http://www.nytimes.com/2008/10/17/opinion/17buffett.html?_r=2&em&oref=slogin&oref=slogin

U.S. pulls the trigger

http://money.cnn.com/2008/10/14/news/economy/bank_bailout/index.htm?cnn=yes

Forclosures Decreased Statewide in September

Foreclosures decreased statewide by 12.4 percent and notices of default decreased 61.8 percent in September, which some attribute to the state law that went into effect last monthrequiring lenders to work with borrowers who are struggling with mortgage payments.