"Greedy When Others Are Fearful" - Warren Buffet

It continues to be an odd market. In the past two months, I’ve had two bidding wars, one as the listing agent and another representing the buyer. At the same time, it’s being proven that more buyers are terminating contracts during the inspection period. With the highest rate in August 2025, about 15.1 percent of U.S. home purchase agreements were canceled, mostly during inspection. That’s the highest August cancellation rate ever recorded, which is a clear indication that buyers are nervous and people are hesitant to make big purchases.

Warren Buffett’s line, “Be greedy when others are fearful,” has always stuck with me. There’s another saying I like too: “The sharks come out when there’s blood in the water.” It’s not about being ruthless. It’s about recognizing that uncertainty often creates opportunity.

The headlines are loud. The government is shut down again, markets are shaky, and talk of an AI bubble is spooking investors. When uncertainty rises, people tend to freeze. That’s human nature. But it’s also when deals appear for those who stay alert.

I’ve always called the fall and early winter “deal season.” This year, that might be even more true. Housing needs haven’t disappeared, but builders are slowing production, and many buyers are waiting on the sidelines for lower rates or more clarity. My business coach once told me that you make your money in real estate when you buy the house by getting it below market value. That advice still holds up.

For perspective, there hasn’t been a ten-year stretch in U.S. history where home prices finished lower than they started. Timing helps, but staying in the game helps more. The market overall has paused. Mortgage applications slipped again this month, down around two percent from last week. Buyer sentiment is cooling as people worry about jobs and the economy. Inventory is rising, up about twenty percent compared with last year. Prices haven’t crashed, but growth has flattened. This isn’t a crash. It’s a return to a more balanced market, one that rewards patience and timing instead of panic and bidding wars. Sellers are more flexible than they’ve been in years. Buyers have room to negotiate, to ask for credits or repairs, or simply to take their time.

On the broader level, a few forces are colliding. The shutdown is delaying some closings, especially in areas that depend on flood insurance programs. Investors are questioning whether AI valuations have overheated. Rate cuts are still expected later this year, but no one knows when. That mix of fear and waiting has created a window for confident buyers. If you’re thinking about buying, this is the season to get your financing ready, study the market, and move when the right home appears. If you already own, it’s a good time to remember that real estate rewards patience. Markets move in cycles, and the people who stay engaged through the quiet stretches are the ones who come out ahead. Fear makes people wait. Confidence comes from being informed.