Sep 16, 2021
Summary:
Real estate has been doing great where taxes are lower, and it
seems that the stage of buying-panic has come to a close as
purchasers stop over-paying quite as much for homes. Today we have
Andrew Ragusa on the podcast to discuss what exactly is happening
with the market, and what you can expect in the purchasing sector.
He emphasizes that if people want to grab something, they should
grab it, because the market is always climbing. Tune in for direct
insights and interesting real estate considerations.
Highlights:
-Real estate has been at the right spot on the economy—where taxes
are lower, real estate is doing better
-What’s happening with New York suburban real estate on Long
Island? There has been a dip in offer prices—previously, they were
getting $50k-$70k above asking price but this has declined a
lot
-Buyers are not willing to over-pay quite as much; the panic is
over
-If people want to grab something, they should grab it—mortgage
payments are greatly impacted by the offer amount
-It doesn’t always make sense to stay on the sidelines when the
market is always climbing
-We are seeing more price cuts in the market. In order for a house
to move, the price still needs to look attractive
-There has been a lot of overshooting the market
-Even thought everything is selling, prices are getting cut
-Information on selling prices is widely available today through
the internet
-Zillow charges realtors to receive information from those using
the website; Zillow essentially sells data
-There’s not a lot of inventory at the moment in Florida
Useful Links:
Financial Survival Network
Andrew
Ragusa Instagram
Real Estate Market Innovations