You Have One Month Left to Buy a House, According to Barbara Corcoran. Here’s Why.
“If you are planning on waiting a year and seeing where interest rates go, you are out of your mind,” Corcoran said.
Key Takeaways
- Barbara Corcoran is the founder of The Corcoran Group, which she sold in 2001 for $66 million.
- The “Shark Tank” star warned potential homebuyers on Thursday that they have about a month left to find a deal.
Barbara Corcoran still thinks now is the “very best time” to buy a house. But you only have one month.
The real estate maven and “Shark Tank” star posted a on Thursday for people waiting to jump into the real estate market.
Related: Barbara Corcoran Says This Is the One Question to Ask Before Selling Your Home
“I’m here to tell you, you have one month to buy a house,” Corcoran said in the video. “One month!”
Corcoran noted when the Fed cut interest rates, everyone expected mortgage rates to follow suit, but that has not happened yet. In fact, , which has taken a lot of buyers out of the market.
“Everyone’s moved to the sideline,” she added, “taking a wait-and-see attitude.”
The “uncertainty in the market” is caused by a lack of inventory, persistent inflation, high interest rates, and the upcoming election, so many would-be buyers are pausing their home-buying dreams. However, she said, this is the time when you can “find the best deals” because there will be “someone out there who will take a bid because they are uncertain, too.”
Related: ‘Not a Big Deal’: Barbara Corcoran Says the NAR Ruling Hasn’t Had Much of an Impact So Far
“If you are planning on waiting a year and seeing where interest rates go, you are out of your mind,” she added. “There’s not enough houses.”
She also noted that, , prices will go up another 5%.
Key Takeaways
- Barbara Corcoran is the founder of The Corcoran Group, which she sold in 2001 for $66 million.
- The “Shark Tank” star warned potential homebuyers on Thursday that they have about a month left to find a deal.
Barbara Corcoran still thinks now is the “very best time” to buy a house. But you only have one month.
The real estate maven and “Shark Tank” star posted a on Thursday for people waiting to jump into the real estate market.
Related: Barbara Corcoran Says This Is the One Question to Ask Before Selling Your Home
