'Forget About Florida': Barbara Corcoran Says 'There's Always A Cheap House To Buy — But Not In Florida'

Barbara Corcoran, a prominent real estate mogul, shared striking advice on the Elvis Duran Show, steering potential investors away from the Florida real estate market, which she described as overinflated.

The hosts asked Corcoran where to look for great value. "There's always a cheap house to buy," she commented before delivering a more sobering follow-up, "but not Florida." 

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"Forget about Florida," Corcoran asserted, marking a definitive shift in her perspective on what was once considered a lucrative market. Her recommendation reflects broader market dynamics that have seen Florida's property prices soar to levels that may no longer offer good value. Corcoran's advice comes when many seek affordable investment opportunities in a market significantly impacted by the pandemic-induced buying frenzy.

Instead, she highlighted opportunities in lesser-known regions of the South, particularly in areas with poor school districts where property values remain low.

Expanding on her strategy for finding promising real estate investments, Corcoran suggested that potential buyers look to "anywhere that has a poor school district where prices are low." This approach is based on her belief in the potential for economic growth and recovery in regions currently undervalued due to less desirable educational rankings. According to Corcoran, these areas offer hidden gems that could result in significant returns as they develop and improve over time.

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Corcoran's advice isn't limited to domestic markets. She also discussed international opportunities, such as in Italy, where small towns offer homes for nominal prices to revitalize aging communities. However, she cautioned listeners about the challenges associated with such deals, emphasizing the isolation and significant renovation costs that can accompany these attractive prices. "The problem is there's nobody that lives in the town. Why do you want to go to Italy and live by yourself?" she remarked, providing a realistic view of these seemingly idyllic opportunities.

Listeners of the show engaged Corcoran with various questions about navigating the complex real estate landscape. Responding to inquiries, she emphasized the importance of seeking out markets that have not yet peaked and where the potential for future appreciation is greatest. Her focus on strategic, informed investment decisions resonates particularly during a period when many traditional markets, like Florida, no longer offer the value they once did.

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