A Lesson From Warren Buffet

Last night I just finished reading Warren Buffett's latest book, "The Snowball: Warren Buffett and the Business of Life". It's basically a biography about his life (from birth to present) that includes many of his business philosophies as themes throughout the book.

One theme or motto that was reiterated time and again was this: Be greedy when everyone else is fearful and be fearful when everyone else is greedy. Okay...I know that the term greed definitely has a negative connotation. What Buffett was speaking to is this...when everyone else is fearful there are a multitude of opportunities that are available to those who will jump on them.

How does this relate to real estate? Simply, that now everyone is running scared from the real estate market. All the news is just perpetuating fear, fear, fear!!! But take a look around...there are a multitude of great options and deals, for those willing to capitalize on them, you can bet that when the market turns around (WHICH IT WILL!!!) those who jumped in when everyone else was fearful will reap the rewards!!!