Barbara Corcoran is best known for her role on the TV show Shark Tank but she is also one of the best investors in the world. The advice that she has for first time homebuyers is pretty simple, and that is to get in the game and buy your first home. Barbara explains that once you have your first home, you can start to upgrade over and over again in order to make a profit. However, without that first home, there’s no way to upgrade in general.
- Corcoran believes the housing market is over-inflated, but that prices will stop going up as fast.
- Despite dropping from 5.25% to 5.10%, mortgage rates are still well above the 3.11% level at the end of 2021.
- Corcoran says to not approach buying a home as an investor; it’s about finding a place for your family.
“The real estate mogul and “Shark Tank” investor added that buyers “really can’t sharpshoot a real estate market.”