Barbara Corcoran Shark Tank investor joins the Discover St. Cloud Florida podcast where her sister, Jeanine Corcoran is the host. This will be the 16th episode of the Discover St. Cloud Florida podcast where the Corcoran sisters will discuss the real estate market in Saint Cloud, Florida.
Jeanine is the owner and broker for The Corcoran Connection and started the podcast by welcoming her sister Barbara Corcoran the Shark Tank star to the podcast. Barbara said what a pleasure it is to be here and how much she has looked forward to being on the Discover Harmony Florida podcast with Jeanine.
Jeanine said Saint Cloud is a small town that has a downtown, cobblestone streets, mom-and-pop retail stores, a marketplace every month, and no big chain stores. Jeanine asked Barbara what it was about small towns that people love?
Barbara replied that it represents a dream of America. Small town living represents so many good associations and people gravitate to that. People are moving in large numbers from the Northeast to Florida for many distinct reasons. There are fewer Covid restrictions and when it comes to investing, there are fewer taxes for people with big money. Finally, is the sunshine which is an obvious attraction.
Jeanine moved on to the topic of the lack of inventory in the real estate market. Jeanine said there is less than one month’s inventory in St. Cloud, FL. The lack of inventory seems to be nationwide. Jeanine asked Barbara what she thought about the lack of inventory.
Barbara said she has been in real estate for about a half of a century, and what she is seeing by far is the wildest market she has ever seen. She said over the last 12 months that prices are up 19%. Nobody believed it would last this long. People are now fearful and think the market is going to tank. She said she doesn’t see tanking any time soon.
Barbara continued that it is mind-blowing to see home prices going up to the levels they are currently at. As an example, Austin, TX is up 40% in a year while Jacksonville, FL is up 31% over the last 12 months.
The current market has sustained itself for 2 years with no signs of slowing. She believes homes will continue to get more expensive over the next year. Jeanine said that most real estate experts, including her sister Barbara Corcoran, are saying that the real estate market will continue to be hot for the foreseeable future.
Jeanine asked Barbara if the real estate market will crash again? Barbara answered no. She repeats the same thing to buyers across the country. This is a very different market today because of the roots that it stands on. There is a clear difference between the people who are buying real estate in this market versus those who were buying it back in 2008.
Barbara stated that in 2008 the circumstances were different. There was reckless lending with no parameters which allowed anyone to get a loan. Back then there were investors that were flipping homes one after another. That was that kind of real estate market that it was. All these factors were like the bad roots of a tree. You don’t want to base a market on this with rising prices.
Today’s market is different Barbara said, we have qualified buyers that are supporting the market in the right way. She has confidence because of this. The banks aren’t giving out loans that are more than people can afford. As a result, the foundation of the market is completely different. Couple this with people reflecting on and realizing what’s really important in life.
We hope you enjoyed our talk with real estate mogul Barbara Corcoran. One of our goals at Discover St. Cloud Florida is keeping you up to date with the local real estate market and there is no better guest to do it with than Barbara Corcoran.
Timecodes
00:00 - Barbara Corcoran’s sister Jeanine Corcoran interviews her on Discover St. Cloud Florida 01:58 - Lack of inventory in the St. Cloud FL real estate market 03:52 - New York real estate market boon in the 1970’s 05:16 - Will there be a real estate market crash 07:47 - How does a real estate agent acquire more listings? 09:38 - Is there a secret sauce to landing more real estate listings? 11:12 - Does Barbara Corcoran regret passing on a deal on Shark Tank? 13:01 - What is Mr. Wonderful like in real life? 14:08 - Real estate mogul Barbara Corcoran
