Nov 23, 2021
Summary:
If you’re looking at investments that will keep up and stay ahead
of inflation, you have to look at real estate and understand the
market. Andrew Ragusa comes on the show to tell us about real
estate in the Northeast and what’s happening in the market.
Properties are selling for around $30k higher than their asking
price, which is a trend that will probably stick around for a bit.
Tune in to hear about where the market is going, and what to expect
in this industry in 2022.
Highlights:
-Andrew Ragusa unpacks what’s happening with real estate in the
Northeast
-Houses are selling, on average, $30k over asking price
-Some people are trying to list their houses at very high prices
just to see what happens, but they end up just sitting on the
market
-Properties around the $400k price point go extremely fast
-Zillow was relying on the zestimate model, which is no longer very
accurate
-There is not enough data to figure out the exact estimate for
every property
-Real estate will probably remain somewhat stabilized in terms of
slightly higher asking prices
-Some people are waiting because they think the market is going to
crash
-On a nationwide level, people are hesitant about where to go once
they do sell their property
-For 2022, more inventory will probably show up
-Changes in representation in the Northeast will probably cause
more people to leave and different people to come in—the political
landscape is shifting
-Interest rates are lower at the moment
Useful Links:
Financial Survival Network
Real Estate Coming Back Down to
Earth with Andrew Ragusa
Flight From New York City Continues
with Andrew Ragusa