This segment originally aired on June 15, 2023.
Barbara Corcoran is probably best known as a “Shark” on the show Shark Tank. But her big start came when she founded the real estate firm The Corcoran Group, which gives her a unique perspective on the state of the real estate. In an interview with Yahoo Finance’s Seana Smith, Corcoran says that right now is “the absolute best time to buy a home.” Corcoran gives two reasons why. First, mortgage rates will eventually come down and, when they do, homeowners will be able to refinance. Second, once rates do come down, buyers will flood into the market and push home prices up. Once rates fall “substantially,” Corcoran says, “everybody’s going to charge the market.” For those who are looking to renovate, Corcoran says it’s still a good time to do that too because the cost of materials has come down. “The problem is finding a contractor. Contractors are busier than anyone else on earth,” Corocoran told Yahoo Finance. When it comes to the type of renovation, Corcoran’s tips include: make sure your house has the curb appeal you want and buy a new refrigerator, because potential buyers “always open the fridge.” For more of our special coverage on Real Estate: The New Reality, click here.
Key video moments:
00:00:20 Corcoran on commercial real estate
00:01:30 Corcoran explains why now is the “best time” to buy a home 00:02:35 Corcoran on challenges facing first-time homebuyers
00:03:30 Corcoran’s most attractive markets right now
00:04:40 Why Corcoran says now is the time to renovate
00:05:50 Corcoran on what could happen with vacant NYC office space 00:06:25 How to play commercial real estate
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Who on earth takes her word seriously?
YEAH… I hear those Hollywood mansions are up to 75% off😮
That market is different not gonna happen 😅
I’m from Los Angeles. Where are you getting “75% off” from? If this is true, I’ll buy two to three homes, all cash. Please provide more context then throwing some random percentage.
@HIGHGUY Comics Lotta big Hollywood celebs are selling their mansions at BIG losses.
All time high prices wait for the coming housing crash she’s clueless.
She’s not clueless. She’s up to her eyeballs in real estate and trying to protect her bag by dragging as many people down with her as she can. Barbara is the biggest real estate shill there is she’s trying to prop up the market and keep it from crashing all by herself.
She is not.
👍.I’ve been quite unsure about investing in this current market and at the same time I feel it’s the best time to get started on the market. i was at a seminar and the host spoke about making over $972,000 within 3 Months with a capital of $200,000
@Luca Gheorghe It’s remarkable to have faith in someone who can consistently deliver profits under any circumstances, and they never disappoint. I trust NICK DRANCHAK implicitly, and since trading with him, it’s been nothing but victories.
@Luca Gheorghe i found his website. very impressive. i just wrote to him
Hahahahahahahahaha, what a spam
i would start listening to the Economic Ninja and the Real Estate Ninja. Realtors making money selling houses. Not waiting for the market to crash so you can buy at the bottom with ) interest. The opportunities will be through the roof if you maintain your credit score until then.
Yeah buy high sell low. Winning strategy. Yeah guess what happens when you find out you cant refinance? Unemployment, Market crash this fall winter, The bank will be closing, Your credit could be ruined. Wait for rate to drop while you still have credit and some cash.
Counting on being able to refinance after an economic collapse of the banking system is a bit risky. You could lose everything. We have surpased the 2008 collapse as far as banking and we just got started. Try with drawing large amounts of cash now. Its getting harder and harder.
No its not! Its the right move and you’re going to find out soon enough. Rates WILL 💯 come down. I work in finance lending, we know its coming.
Good luck refinanceing after you find out your house value dropped by 30 percent or more. We are heading into the best real estate crash in our life time. You could buy ten houses and the banks will be asking you if you want more.
I wish I believed you.
Thanks for the content.
Time for Barb to retire 😅
Then let her buy your house for you or better yet a multiplex unit with her money
Lol..
Sure
Of course she says that. She sells those. 😂😂
“Interest rates can come down, so buy now, while they are higher!”
She was saying its a great time to buy housing at the Peaks of Covid, now her Office rentals are 20-30% empty
her job is to look pretty, lie to your face, take you for the ride, and laugh all the way to the bank.
do not buy a home rn -_-
This is True. As long as you aren’t borrowing money. Only buy cash otherwise don’t
Its like your cocaine dealer telling you that it’s great time to buy cause coc prices are going up lol
Who knew the founder of the #1 real estate company in NYC who’s weathered many storms could say this and the reaction thus far from the comment thread is that she’s nuts or needs to retire.
Rates were 18% back then, so buyers being scared of 5-7% is not so scary if you’ve been on earth 45+ years. Buyers are definitely waiting on the sidelines for when rates do drop again, and when they all take a deep dive into purchasing, they’ll be forced into overbidding on properties that might not even appraise
I wonder if she has lunch with Cathy Wood.
Her advice is solid for people who have the money and credit. If you can’t afford it, don’t do it.
Interest rates drops then home prices jump. Buy now then refinance. OR just set there and do nothing…
Stupid advice real estate is at all time high what goes up has to come down. Only thing I see is dollar going to 💩 then prices rise even more. Otherwise wait for next crash next 2008 coming.
Why would you advice people to refinance lol this is a joke
Yahoo finance just lost a sub never trust people online when it comes to stocks or real estate omg I can’t listen to her she thinks she is educated
Fascinating stuff. Who would have thought that a real estate millionaire would say that now is a good time to buy.
Not buying jack unless we see 20% hair cut across the board.
Do you expect someone holding an obscene amount of real estate in their portfolio to say otherwise? She lives off of appreciation, she will try to pump sales/prices at every turn.
She is desperate to dump it on U (innocent buyers at a premium)
Bull
The only positive comments in the list are from realtors! The rest of us can see hypocrisy. RE agents will ALWAYS say it is ALWAYS a good time to buy.
Look outside the country for better deals. Learn a new language. Date a foreigner. This place sold us out.
No way. She’s basically like Jim Cramer. You know what that means.