Even Warren Buffet Likes Chicago

April 14th, 2010 categories: Chicago Real Estate News, Economic Recovery, For Buyers, For Homeowners, For Sellers, Real Estate News

When making decisions on where to invest money, it always pays to look at what the wealthiest people do. After all, they’ve already made a fortune. You could do worse than follow their lead.

By this logic, people should be investing their money in Chicago real estate.

Bloomberg News reported that the property brokerage of Berkshire Hathaway Inc. – the company owned by investing guru Warren Buffett – in April bought a local Chicago real estate brokerage. This isn’t the first foray into Chicago housing for Buffett, either. Berkshire Hathaway purchased another Chicago brokerage last year.

The move makes sense for Buffett. Chicago housing sales have risen for six straight months, according to the latest sales data from the Illinois Association of REALTORS®. And top neighborhoods in the city, places like Lincoln Park, Lincoln Square, Ravenswood and Lakeview, have survived the housing slump in solid condition. These neighborhoods are still highly desired by buyers.

Yes, housing prices here have fallen since their peak in 2006. But the market is still strong in these top neighborhoods. Buffett obviously realizes the strength of Chicago’s housing market, and isn’t afraid to put his money on the line.

Buffett’s buy actually supports my contention that this is a great time to buy property in Chicago. Any good investor knows how important it is to buy low. In Chicago, housing prices have dropped since the start of the recession. Today, buyers can purchase more Chicago home for their dollars. For some buyers, this means the opportunity to buy into a top city neighborhood that might have been out of their financial reach just two or three years ago.

So if you’ve been considering buying a Chicago home, this is the time to make a move. Follow the example of Berkshire Hathaway and invest your money in Chicago residential real estate. After all, it makes sense to Warren Buffett, and he knows a thing or two about investing.

PLEASE CLICK HERE TO VIEW PROPERTIES NOT YET ON THE MARKET.

This entry was posted on Wednesday, April 14th, 2010 at 11:01 am and is filed under Chicago Real Estate News, Economic Recovery, For Buyers, For Homeowners, For Sellers, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.