Buffet Style

Do you buffet? Not talking entertaining or all you can eat style buffet but economically. Warren Buffet's most recent quote, "Low mortgage rates are a way to short the dollar. You can take a 30 year mortgage and if it turns out your interest rate is too high, next week you refinance lower. If it turns out it's too low, the other guy is stuck with it." Hmm, the other guy, mortgagor, has a locked in 30 year mortgage with you at an all time low interest rate and as the rates rise and inflation sets...well you know the story. The Dow closed above the 13,000 level today and the Chief US Equity Strategist Adam Parker remained defensively positioned with an S&P 500 year end target of 1167, 16% below today's close. Where do you want to put your dollars? Buffet is suggesting a buy-out in real estate, and the Denver market has become so hot that sellers are now seeing multiple offers. The inventory is so low that listings are going under contract quickly, some above the list price and many do not hit the MLS or internet. When a listing does not appear virally, you better know your realtor and hope your realtor specializes in your desired area. In other words, you don't need to be connected you need a realtor that is connected. The Kentwood City Properties office put under contract over $21 million in real estate in one week. Many of the under contract properties were buyers looking for investment properties or REITS, many were move-up buyers, many were re-locating buyers and many were buyers that have been looking for a while and have come to the realization that this is a competitive market. Now this is real news you can use! Email judy@kentwoodcity.com to get in the game! posted: March 13, 2012 - Judy's Denver - Blog
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