ouch...barbara corcoran tells it like it is

I just saw the last part.ouch! Did you catch the address, just curious to see the apartment above also..

they very carefully left the address out...guess the owner is still hoping to get close to $1.3 million. really was an interesting example of exactly what we've been talking about here.

This is the second episode I saw Barbara.She was extremely honest in her evaluation.Her comment that it had to be attractive for the FEW buyer's available was right on.So hopefully many of the seller's saw the episode as well.

link?

http://lxtv.com/openhousenyc/video/9829

i think it's on east 22nd street between broadway & PAS

21 East 22nd

check out some of the listings and pricing at 254 Park Avenue South for ridiculous.

Sure, she is all honest and helpful for the camera, work with one of her brokers and welcome back to market peak... "lets price it high and i will sit my lazy butt in the lobby when i schedule two open houses a month and it will sell".
And what is this price it low and you will get multiple bidders bidding it up. So many of these brokers are living in bizzaro land!!!

i think she sold and has nothing to do with it except for the ongoing (unfortunate) use of her name and reputation. as noted elsewhere, its interesting that she is all over nbc these days. wonder if she lost all her money, is bored, or hoping to renew her reputation.

Your name is the most important thing you have, KEEP IT!! I have seen people lend their name to things and it was their demise (think HALSTON).
I had a lot of respect for her and the agency... now i think they are the WORST. I know there are a lot of bad brokers out there but this guy is a NIGHTMARE!!

columbia- you are correct, she sold it in 2001

Open house NYC should also go the extra step and hire an appraiser to find what the house is 'really worth' ... after all the buyer can not get the loan unless the unit without the appraisal..

Interesting timing on her sale, 2001. She got out early. cc, yes there probably is a fair amount of pride involved.

I was expecting the realtors to say it's worth $1.5 so it appears they cannot hide the fact it's a buyer's market...from $1.3 to what Barbara said $850...big drop.

what was the point of babs going so much lower then the other brokers.. to prove brokers will mislead you??? did they knot know about the other apt and only she did?

its called tv...always add drama...story is about how smart barbara is, not about the fact that the poor owner just lost $500K

That poor young owner looked ready to faint when she heard the numbers. I hope her trust fund can absorb the loss.

never ceases to amaze me what people are willing to do to themselves to be seen on TV. wonder how it works in this case: friends and family alerted ahead of time, "hey, everyone check it out, I'm on tv this morning. wait till you see how stupid i am."

Correct,Barbara under bid on the previous show,And on both shows the buyer's looked like a deer caught in a headlight.This seller had to know there was a unit on another floor offered at 950k.She is dumb but it is all about Barbara,she didnot have to say go lower and you may get a bidding war.They need to get someone else to run that segment.It is the best part of the show and should have more of it!

i admit i have a bug up my butt re babs corcoran but never having seen this show here is what i walked away with??? i hope the buyer gets something out of it, ie she never expected the price she mentioned and now she has lots of exposure for her apt. babs made the brokers look like idiots, people do not have a great deal of faith in them to start so this did not help. and the next broker that mentions a bidding war,,,, i am going to lose it. did she not say there are so few buyers, so the few buyers out there are going to get into a bidding was?????!!!!!!!!
anyone selling now is selling for a reason, they need someone to be honest with them and come up with a plan that reflects were we are in the world.
i know this is tv... but makes for bad tv

honestly, bad deals all around but good tv.

I guess buying a-year-and-a-half ago wasn't such a smart idea now, was it? What did we learn...? Did you see the poor girl trying to keep a smile on her face when Babs told her the number? Priceless.

Or better yet, did you see Babs do a double take when she asked "In a perfect world, what would you like to get for this apartment?" and the girl replied "We'd really like to get about $1.3" Babs was probably thinking "This girl's on crack!" Is it just me or did the owner remind you of Woody's girlfriend Kelly from Cheers?

For those who don't know:

http://www.youtube.com/watch?v=8hJjx7jTHA8

I saw the episode today and wondered too why would a potential buyer put themselves in that position. If I were ready to price my place for sale OR just be wanting to testing the waters it's a great way to get some perspective.

bugelrex - right on. It would be great to take a next step and see more correlation between the realtor's pricing and something verifying that estimate.

The format of the show (I've been watching since it began) has changed a bit for the current realities and you're more likely to see (yes, there are still 5-8 million $ condos) lower cost-focused pieces.

i think free exposure, it's te\he ony reason i can think off

free exposure at $850 K or less. i don't know--don't think that piece was confidence building on the buy side, i.e. didn't walk away saying wow, what a deal that place would be.

Owner: I'd like $1.3
Babs: that's nice, but there's a REAL 2 br upstairs for $995 & it's much better then your crappy apt, where the BR is a mere 'afterthought'

Think the owner will recoup the $50K for lighting?

hah, hah. what kind of idiot puts 50 K of lighting into an apartment like that? 407 PAS's fridge was only $3,500 I think.

That lightbulb bouquet will probly appear on Ebay.

Owner bought 1.5 yrs ago & now, she's selling. Either she's desperate or dumb.

dwell: Or they're looking for a "real" 2BR because they wants kids...who knows.

Also, they can take the light fixtures when they move and install in their new place (or keep in storage).

You're right, iMom, but, I never understand why people buy if they can't commit to staying a minimum of 5 years. So, either there's hardship or they're flippers. RE can be ez to get into, but hard to get out of.

For giggles at 2007-2008 asking prices, here's more "OpenHouse NYC".

link:

http://openhousenyc.blip.tv/?sort=date;date=;view=archive;user=openhousenyc;nsfw=dc;s=posts;page=1

Thats the quickest way I know to lose 35% on your money. Oh wait, mortgage. So, 5x? Even 3x, all their equity is gone.

Does anyone know what apartment this "real 2 BR upstairs for $950" is? because I can't find it anywhere.

Did you see the look on her face at the end of that video....

Priceless

maybe it was in bab's yellow housecoat because i could not find it either

I saw the episode. Please understand something about TV. FOr that 4 minute segment they probably shot an hour or more worth of footage. Barbara probably asked her a dozen times in a dozen ways how much she wanted for the apartment/thought it was worth/etc. And then (surprise!) they use the one where she got the highest number "In a perfect world..."

For the next victim, here's the set-up:
Babs: Forget that the economy is in the tank. Forget the banking crisis. Assuming all that never even happened... How much do you think your apartment is worth?

Then, in the editing room, delete everything before "How much..." and watch out Emmy, here I come!

In all fairness to the women she did ask "in a perfect world". In a perfect world i never have to go to they, can eat what i want and everyday when i go to get my mail there is a check for say...$20k. It's a perfect world