Property Grunt

Sunday, March 19, 2006

Lockhart Steele on Jane's New York

Once again another media outlet has grabbed the teet of the real estate market and has proceeded to milk a story that is as about as dry as an armadillo's ladyflower.

Jane's New York did their own take on the current real estate market titled Hot Properties. If this is the best title of a show on real estate that Colubmia Journalism school can produce then it looks like Akron, Ohio is on its way in becoming the media center of the world. Btw Jane, never wear black or dark colors again. You blend into the background and look like a disembodied head. Didn't you ever watch the Kennedy/Nixon debates?

Lockhart was absolutely great. Not only was he knowledgeable but in my opinion Lockhart has a strong screen presence and excellent vocal skills. I would not be surprised to see him hosting a Curbed tv show in the near future.

As for the rest of the show, I was not dissappointed since I was not expecting much. It was the usual song and dance about how there was no bubble and Manhattan was invulnerable to the bubble. Anyone who says there is a bubble should be dragged out into the street and beaten with a chair. Manhattan in the long run is the greatest investment in the universe. And if you can't buy in Manhattan then buy in Brooklyn. All hail Manhattan.

Below are quotes of interest.

Pam Liebman

"There's no way the real estate market can in any way be referred to as a bust."

Channeling our inner Barbara I see. I guess the prince of darkness stopped taking your calls. He doesn't need to since you already sold your soul to him.

"We've been on a fifteen year ride and while that ride may slow down and may have a valley here or there. Its not going anywhere but a positive direction in the future."

WE DON'T KNOW THAT! In fact it looks like it will all go to s**t. Our debt limit has been raised, interest rates are definitely going to get raised and our international situation is looking very grim including the oil market. All these variables will make the future rather complicated for the real estate market. So to say that the market will only face a positive direction is oversimplying the nature of the beast of real estate.

The most realistic perspective on real estate

Lockhart Steele
"It's market is where well priced property are very likely to sell really quickly, And people who who have an inflated idea of what their properties are worth are probably going see their property sit on their market for awhile."

Right on Lock. Fight the power.

I think that Jane should have made a reference to Curbed particualry with the segment on new areas because they were using terms like So Bro and Bel Del. In fact they should have just call it the Curbed segment.

And I don't care how big and luxurious a bathroom is. If it takes up 200 square feet of a 600 square foot studio then it has functional obsolescence written all over it. We do only two things in a bathroom and unless you are some perv or Chuck Barry, they do not involve eating or socializing in large groups.

Of course there was the obligatory listings porn where brokers publicly masturbated over their exclusives and how you wish you could be them. But they popped their wad a while ago and all that is left is for the industry to wipe up the splooge.

There will be more real estate tv specials underway however as the adjustments take hold of the market I suspect the segments will take on a more grimmer tone like how to survive a foreclosure and how to do a fsbo.