I stumbled upon a video interview with Barbara Corcoran who also happens to be one of my biggest inspirations when it comes to business and Real Estate. Article is titled: 2011 Housing Market Outlook with Barbara Corcoran (via realestate.aol.com).
One of the points that Corcoran made in this article was how quickly can Real Estate down market turn upwards once it decides to so she advices buyers not to wait too long or otherwise they will miss these good buying opportunities.
“Of course anyone in this market with so many mixed signals is nervous about buying,” she acknowledges.
“But my advice would be to not wait. If there is one thing I’ve learned about this real estate market, it is that it usually takes a very long time to unwind but once it decides to turn around, those prices will move up very quickly and you’ll just be joining every other Tom, Dick and Harry out there bidding on the same house.”
“Will Home Prices Rebound in 2011? asked Corcoran. The good news, she says, is that she wouldn’t be surprised if prices returned to the same level–and then push even higher–within the next three years. “Real estate markets can recover much faster than they can fall,” she says. “I’ve seen it time and time again. And so miracles can happen.”
Watch Barbara Corcoran interview and Read full article in realestate.aol.com