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Buying a home in this real estate market “feels impossible” right now and even real estate entrepreneur and “Shark Tank” star Barbara Corcoran isn’t afraid to say it.
With mortgage rates hovering around 6.60% as of press time and home prices still high (and growing, Realtor.com predicts a 3.7% increase in 2025) it’s no secret that buying a home in 2025 is “tough,” Corcoran says.
Home prices are just the beginning, too, as there are many other hits to the wallet when buying a home, including insurance, HOAs, rising property taxes (up in every U.S. metro area), and home maintenance costs. Mortgage insurance fees (for those making down payments less than 20%) and closing costs are also up.
Related: Barbara Corcoran Says This Is the One Question to Ask Before Selling Your Home
Still, there are some bright spots. Business Insider reports there are places in the U.S. where home prices are dropping — and some are in major metro areas like Phoenix, Arizona; Nashville, Tennessee; and Jacksonville, Florida.
So if you are in the market to buy a home, here are Corcoran’s “three secrets” to give you an edge over the competition.
1. Look at listings that have been sitting on the market
Corcoran noted that everyone is “running to the new listing in town,” which means homes that have been sitting on the market will continue to get overlooked.
“When a house is on the market for six months or longer, nobody’s paying attention,” Corcoran said on Instagram.
“Make sure you look at the old listings, that’s where a low offer will be accepted,” she added.
Related: Barbara Corcoran Says She Doesn’t Look at Resumes: ‘Always Hire Attitude Over Experience’
2. Shop off-season
“Everyone is out in the spring and summer, so you should be shopping in the winter,” Corcoran said.
This is usually due to better weather for showings and letting families finish school in one location before moving to another (and then being set in their new homes before school starts in the fall). Some warmer climates can be the opposite — South Florida, for example, can have slower real estate summers and busy winters.
Still, in most parts of the country, Corcoran says “the best deals are taken” in winter.
3. Look for a house with a separate entrance
“A separate entrance allows you to make a second unit you could rent to offset the cost of your mortgage,” Corcoran says.
This advice is particularly notable for investors or those considering a multigenerational home.
Here’s the full video:
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