Hey business buffs and movie fans! Get ready for a wild ride because we are diving into the world of Shark Tank and the queen shark herself Barbara Corcoran. This week's episode had a local entrepreneur facing the Sharks with a pretty unique invention but that's not all Barbara has been up to. Turns out she is dropping some truth bombs about the crazy Housing Market too! Let's get into it.
West Bridgewater's Own Takes on the Sharks: Chicken Feeder Pitch Hits Primetime!
Imagine stepping into the Shark Tank those doors open those sharks are staring you down... Talk about pressure! Well Erik Diedrichsen from West Bridgewater Massachusetts did just that. This local entrepreneur and owner of Riverbend Resources went on Shark Tank to pitch his business all about making life easier for backyard chicken owners. Yes you heard that right chickens!
Erik's company Riverbend Resources focuses on chicken feeders and waterers. His invention the Poultry Pro Feeder and Poultry Pro Waterer is all about simplifying feeding time for folks with backyard flocks. Apparently Erik invented these because he wanted an easier way to care for his own chickens. Gotta love a problem-solver right?
His wife Julie mentioned Erik designed it patented it and marketed it himself – the whole shebang! He even got Tractor Supply to sell his product which was a big win. But Erik being the ambitious entrepreneur he is wanted to grow even bigger and that’s where Shark Tank comes in.
Believe it or not this wasn't Erik's first attempt to get on the show. He applied three times before finally getting the call last summer. Talk about tenacity! The episode already aired and featured Sharks like Mark Cuban Daymond John Kevin O'Leary Lori Greiner and Robert Herjavec. Did he get a deal? Well you gotta tune in to find out or maybe if you already missed it search online to see what happened!
Julie Diedrichsen said her husband wasn't scared of the sharks he saw it as a challenge and even fun. But she admitted it was intense walking through those doors. We can only imagine! Looks like Erik and his family even had a viewing party at a local ale house to watch the episode air. How cool is that?
From Chicken Feed to Real Estate Reality: Barbara Corcoran Sounds Off on Housing Market "Uncertainty"
Now Barbara Corcoran wasn't just grilling entrepreneurs about chicken feeders this week. Turns out she also dropped some knowledge about a totally different kind of market: real estate. As the founder of the Corcoran Group and a Shark Tank investor Barbara knows a thing or two about business and markets in general. And she is saying there is some serious "uncertainty" in the Housing Market right now.
Barbara pointed out that "uncertainty is bad for business." She explained that with so much up in the air people are hesitant to make big moves like buying or selling homes. Think about it are prices going up down sideways? Interest rates are doing their own thing supply is low... it is a lot to take in. She mentioned home suppliers are even "hoarding lumber" because they are worried about tariffs. It sounds like a bit of a mess honestly.
She did point out a tiny glimmer of hope. Home prices are still increasing but at a slower rate than before. But Barbara said this slowdown is "less than a quarter percent" which is not really going to change things much for people trying to buy a home.
The real issue according to Barbara? Mortgage rates. She said high interest rates are "holding people back" and that over two-thirds of Americans are sitting on super low 4% interest rates. Why would you sell your house and lose that low rate she asked? Good point Barbara.
Barbara Corcoran's Top Tips for Home Buyers & Sellers (Listing Inside!)
Even though the housing market sounds a bit chaotic Barbara Corcoran being the savvy real estate expert she is offered some solid advice for both buyers and sellers. If you are thinking about making a move listen up because Barbara's got some wisdom to share:
- For Sellers: Focus on Curb Appeal (First Impressions Matter!): Barbara says buyers decide in the first "eight seconds" of seeing a home if they are interested. So boost that curb appeal! Paint peeling? Yard a mess? Fix it! Those little details make a big difference.
- For Buyers: Buy with Your Heart (But Be Smart About Finances): Don't just look at a house as an investment. Think about it as a home. Let your heart guide you a little bit. But Barbara also stressed you still need to be smart about your money and make sure you can actually afford it!
- For Refinancers: Do the Math (Two Points or Bust?): Thinking about refinancing your mortgage? Barbara suggests it usually only makes sense if you can lower your interest rate by at least "two points". And don't forget to figure out your break-even point how long will it take to make the refinance worth it?
- For Buyers: Ignore Asking Prices (Do Your Homework on Value): Don't get hung up on what sellers are asking. Barbara says asking prices "have nothing to do with the value of a property." Do your research look at comparable homes in the area and make your offer based on what you think it's actually worth.
- For Sellers: Price it Right From the Start (Win the Price War): When selling don't overprice your home hoping for wiggle room. Barbara says there's a "price war out there" and you need to be competitive from day one. Check out what similar homes are selling for and price accordingly to attract buyers fast.
Housing Market Predictions: Barbara Corcoran on Affordability and Future Prices
So will houses ever become more affordable again? That's the big question right? Barbara Corcoran tackled this one head-on in another interview. She thinks even if mortgage rates drop prices probably are not going to plummet.
Why? Demand is still high and supply is still low. Barbara explained that the government is using interest rates to fight inflation and while rates have gone up they haven't really caused home prices to drop significantly. She said the housing market is "surprisingly strong" despite higher borrowing costs and homes are still selling fast often above asking price.
Her prediction? If mortgage rates go down to around 4% or 5% all those buyers who have been waiting on the sidelines are going to jump back into the market. This surge in demand could actually push home prices up maybe even by "10 or 15%". So affordability might continue to be a challenge.
Barbara's advice for buyers right now is to adjust expectations and look at different financing options like adjustable-rate mortgages (ARMs). She thinks ARMs could be a good move if you believe interest rates will come down in the future. For sellers she thinks if you can wait until next year when rates might be lower you could potentially get even higher prices for your home because more buyers will be in the market.
From Chicken Feeders to Housing Market Forecasts: Barbara Corcoran is Always in Business Mode
Whether she is grilling entrepreneurs on Shark Tank or giving her take on the housing market one thing is clear Barbara Corcoran is always thinking business. This week's Shark Tank episode with the chicken feeder pitch combined with her insights on real estate show just how diverse her expertise is. She can jump from backyard farming solutions to complex economic trends with ease and always offer up some sharp advice. Keep an eye on Barbara Corcoran she is sure to keep dropping business wisdom and maybe even find the next big thing on Shark Tank!