Will April flowers bring May showers for Florida real estate sales? While some U.S. economists are still singing doom and gloom when it comes to the real estate market, TODAY show contributor and real estate mogul Barbara Corcoran sees some positive signs for prospective buyers and sellers, South Florida Law Blog shares this optimistic outlook.
During a recent appearance on the Today Show, Corcoran talked about her optimism, and why she thinks the spring season could be a great time to buy that dream home.
She sternly disagrees with some economists opinions that real estate prices will fall another 15 to 20 percent. Well, the jury is still out on that one, but let’s look at her glass half full.
“I think they’re dead wrong,” she told host Matt Lauer, “If you actually look at all the major markets in the U.S., more than half have already come off the bottom and prices are rising.”
For buyers who are thinking of playing the waiting game hoping for lower home prices, Corcoran says don’t. While interest rates are below 5% now, she feels with the anticipated demise of Fannie Mae and Freddie Mac, they won’t stay that low for long.
The reality is, prices will likely not increase for years considering about nine months of shadow inventory that the banks must still unload! In fact, if the banks did not manage the inventory prices would indeed still be dropping.
Tips for buying and selling in today’s competitive spring market