Jodi Summers = Santa Monica Real Estate

SANTA MONICA REAL ESTATE SNAPSHOT ~ MARCH 2012 > WARREN BUFFET SAYS BUY HOMES

February 29, 2012 on 8:14 pm | In Fascinating Information, For Your Purchasing Pleasure, Market Snapshot, Market Trends, Uncategorized, WOW | 6 Comments

By Jodi Summers

“Houses will be a better investment than stocks over the long term,” recently stated Warren Buffett, the second richest man in the U.S., on CNBC.

This is an extremely noteworthy comment, as Buffet built his Berkshire Hathaway empire selling securities. “It’s a very attractive asset class,” Buffet continued about single family homes. “If I knew where I was going to live the next 5 or 10 years, I would buy a home and finance with a 30 year mortgage. It’s a terrific deal. It’s a leveraged way of owning a very cheap asset.”

When the “Oracle of Omaha” offers advice, it’s worth a listen…

The Southern California housing market kicked off 2012 with slightly higher sales and slightly lower prices > despite record-low mortgage interest rates. Home sales skewed toward the lower price ranges – normal in the first quarter. The buyer’s market was dominated by investors heeded Buffett’s advice and snapped up homes at a record level. According to DataQuick Information Services, the Los Angeles area sales have increased year-over-year for five of the last six months.

Buffett has been paying close attention to the housing crisis. His company, Berkshire Hathaway, bought portfolios of subprime mortgages and froze their rates, in an attempt to help distressed homebuyers.

Warren Edward Buffett (born August 30, 1930, in Omaha, Nebraska) is an American investor, businessman and philanthropist. He is regarded as one of the world’s greatest stock market investors, and is the largest shareholder and CEO of the insurance and investment Berkshire Hathaway.

A wise businessman, Buffett has also stretched into the green building sector. He recently expanded Clayton Homes, one of his business subsidiaries, to produces a line of green modular homes. These 750-square-foot eco homes, dubbed “i-houses,” can be purchased online for less than $75,000.

In 2006, he announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation. In 2007, he was listed among Time’s 100 Most Influential People in The World.

Isn’t it time you made your mark? Given today’s historically low interest rates, and property values well off their 2007 peaks, there may never be a better time to invest in real estate.

We’re here to help you with your property needs. Please contact Jodi Summers and the SoCal Investment Real Estate Group @ Sotheby’s International Realty – jodi@jodisummers.com or 310.392.1211, and let us move forward together.

http://en.wikipedia.org/wiki/Warren_Buffett

http://www.forbes.com/profile/warren-buffett/

http://www.socalofficerealestateblog.com/?p=1251

http://www.socalofficerealestateblog.com/?p=210

http://www.youtube.com/watch?v=vkx57Ifein8&feature=player_embedded

http://www.noradarealestate.com/blog/warren-buffet-on-best-real-estate-investment/?source=Altos&email=jodi@jodisummers.com&first=&utm_source=Investor+Network&utm_campaign=2271fa109b-Warren_Buffet_on_Best_Real_Estate_Investment&utm_medium=email

http://www.dqnews.com/Articles/2012/News/California/Southern-CA/RRSCA120215.aspx

http://img.timeinc.net/time/photoessays/2012/buffett_0111/warren_buffett_tout.jpg

http://www.santamonicapropertyblog.com/?p=4184

http://www4.pictures.zimbio.com/gi/Kyle+Busch+Warren+Buffett+Emory+Healthcare+yvz8DtXK0tDl.jpg

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It was also announced on CNBC that pending homes sales in January rose to its highest level since April 2010. This is significant considering that back in early 2010 there was a first-time home buyer tax incentive that helped fuel the housing market.

Comment by Marco Santarelli — March 1, 2012 #
And who is the richest person in the U.S.?

Comment by Bag Culture — March 1, 2012 #
Bill Gates.

Comment by Jodi Summers — March 1, 2012 #
Good news first. No recession. Well, technically what Warren Buffett told a packed Economic Club Tuesday night was a bit more nuanced: a “very low chance” of recession, unless the euro crisis spins out of control. But it was enough to detect waves of relief sweep across the massive ballroom of well-heeled listeners.

Comment by Real Estate Bisnow (National) — June 8, 2012 #
Americans are saving more. The personal-saving rate — which reflects how much people have left after spending and taxes — hit 2.6% in February from 2.2% in January. Incomes grew, allowing Americans to spend, yet save more. The saving rate soared in December as fiscal-cliff fears prompted some companies to distribute bonuses early, but it then plunged in January as payroll taxes rose.

Comment by NeilShah — April 4, 2013 #
President Obama To Attend Fundraiser June 7 At Peter Chernin’s Santa Monica Home

President Barack Obama will attend a fundraiser in Santa Monica to benefit the Democratic National Committee on Friday June 7, according to politicalpartytime.org.

The luncheon will be held at the Santa Monica home of Peter and Megan Chernin.

“Our Party, led by President Obama, is focused on building an economy that lasts – an economy that lifts up all Americans,” the invitation reads. “That’s why Democrats in all 50 states are working in neighborhoods and communities to advance issues like job creation, education, health care, and clean energy. But we need the resources to continue to move our country forward. Since we do not take money from special interests, corporate lobbyists, and political action committees, we must rely on dedicated Democrats like you.”

General luncheon tickets are $10,000 per person.

To be a luncheon VIP guest, the cost is $16,200 per person, which includes a photo with the president.

To be a luncheon co-chair, the cost is $32,400 per person, which includes special discussion with the president and a VIP photo with him.

Chernin is the Chairman and CEO of The Chernin Group which manages, operates and invests in businesses in the media, entertainment, and technology sectors.

Comment by Brenton Garen — May 5, 2013 #