Monday, May 09, 2005

RE Television Turns The Bubble Into Public Circus

In a move that readers would recognize as a sign of a turn, RE television shows are springing up all over. Newsday interviewed this "real estate celebrity, barefoot, wearing a cranberry colored blazer and slacks."

"Barbara Corcoran is even more of a symbol of the city's obsession with real estate now. She's on "Good Morning America" and the "Today" show advising people how to buy and sell. By September she hopes to host a weekly real estate show on national television."

The article does have some warnings. "A newsletter from a group of Prudential downtown Manhattan brokers said recently, 'You heard it here first: The market is slowing down and pretty significantly too.' One of those brokers says people are reducing 'really extreme asking prices' for high-end apartments but that the market's still strong."

"Corcoran concedes there are periods when housing markets drop. Over a 3 1/2 year period beginning in 1987, city prices dropped about 32 percent."

"She admits there are some people who risk getting hurt badly in this housing boom.'Is it dangerous to be a flipper if you don't have an educated eye? It's ridiculous,' she says."

"Her advice? If you're a seller, underprice your property by 10 percent and you'll set off a buying 'frenzy.' If you're a buyer, overbid to get the property you want, and the rising tide of the real estate market will protect you."

9 Comments:

At 3:46 PM, Anonymous Anonymous said...

No action here. It fits with the reality TV can't stop watching a train wreck.

There sure are going to be a lot of them.

This website is a shocker.

http://www.ocinvestor.com/

Helping equity rich Orange County California homeowner's "invest" in less bubble inflated communities.

 
At 9:49 PM, Anonymous bob r said...

"If you're a buyer, overbid to get the property you want, and the rising tide of the real estate market will protect you."

The woman ought to be arrested for fraud.

 
At 9:49 PM, Anonymous Anonymous said...

Her advice? If you're a seller, underprice your property by 10 percent and you'll set off a buying 'frenzy.' If you're a buyer, overbid to get the property you want, and the rising tide of the real estate market will protect you."

Hey Babs stop hogging that joint! Pass some of that over here!

 
At 10:26 PM, Anonymous Anonymous said...

bob r

I saw that comment too, unbelievable. How does someone this ignorant get so rich.

 
At 10:32 PM, Anonymous Anonymous said...

She is not ignorant!

Higher bid + Lower ask = More Volume

She is speaking to ignorant people to get more business.

 
At 11:10 PM, Anonymous Anonymous said...

Well then she is a liar.

 
At 5:32 AM, Anonymous Anonymous said...

Love Curbed's oh-so-subtle sarcasm:

Corcoran, Underexposed, Seeks TV Show

We were a little hesitant to post this item after Newsday's Richard Galant called Curbed out as one of the forces responsible for Barbara Corcoran's ubiquity (seriously, we had no idea. None.). But there's some real news in this blow job profile: Babs, who's been moonlighting as an RE analyst on every morning and evening show under the sun, is getting her very own television program. Writes Galant, "By September she hopes to host a weekly real estate show on national television." Okay, so that doesn't exactly sound like a done deal, but, c'mon, will you look at that smile? Gold, baby.

http://www.curbed.com/archives/2005/05/09/corcoran_underexposed_seeks_tv_show.php

 
At 7:07 AM, Blogger L'Emmerdeur said...

Oh, my! A real estate broker who... lies?!?!? Unpossible!

Barabara Corcoran: proving that even an undead skeleton can get rich on real estate.

 
At 7:10 AM, Blogger L'Emmerdeur said...

One more thing:

"Over a 3 1/2 year period beginning in 1987, city prices dropped about 32 percent."

A friend of mine bought a place on the Upper East Side for less than $300K, that had been bought by the previous owner at the height of the boom for over $600K. That's more like 50%.

Never trust (fake) blondes with math stuff.

 

Post a Comment

<< Home