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
Real Estate Market Innovators
