Real Estate Coming Back Down to Earth - Andrew Ragusa #5268

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