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: Closing Real Estate in Chicago

Buffet Buying Bargins?

By Peter Olson, Esq.

Here's Mary Umberger's full column recently about HomeServices of America's (HSA) plan to expand its real estate business during the economic downturn. HSA is part of Buffet's Berkshire Hathaway Corp. Some excerpts:

HSA apparently thinks the current sag in housing makes this the ideal time to spend some money, and has set aside a minimum of $200 million to expand its existing brokerages and to buy distressed realty companies at bargain prices, according to its chief executive, who told me the Minneapolis-based company is eyeing Chicago.

"Our goal is to be in the top 60 to 65 markets," said CEO Ronald J. Peltier. "Chicago is one of them, and we definitely will be there. We're positive that timing and opportunity will converge in the not-too-distant future."

What's your plan as the economy sours? I think it may be time for this author to launch his long-planned brokerage business.

Full post as published by Closing Real Estate in Chicago on November 11, 2008 (boomark / email).