Desperate Sellers Influence Prices....Diana Olick

As if Diana Olick knows what she's really talking about. She's been doing "business news" for like 10 minutes.

she does on this topic.

Funny, I didn't see the word "smart" or the word "Manhattan" in that article.

I think this article can be applied to any localized market. Every market has some level of desperate seller and smart buyer.

"Every market has some level of desperate seller and smart buyer."

Wow. That is really profound.

someone really needs to read her work to check for logic. if desperate sellers are having a tough time selling, then whats gonna happen when the sideline sellers decide to get in??

Marco, you're reading too much into it. Diana is a general-assignment reporter with no real business background, or even previous business reporting experience.

she is not a "general assignment" reporter. all she does is real estate reports for cnbc.

She is a "general assignment" reporter by training. She's still learning her new "beat", which is real estate. She has no formal training or education, however, in real estate or any business discipline.

Can there be anyone more retarded than SteveF on this board?
The guy seems to keep dropping headlines from CNBC everyday and is not able to engage in any debate when he's proven wrong (repeatedly)...Pathetic!

i dont see any desperation in manhattan...my gut is that its fallen 10 to 15% and will prob stabilize at that point thru year end and then start inching up....just a GUT feeling from watching the nyc real estate market for a number of years.

steveF = idiot

Check your gut again, mhillqt. Long-term increases in inventory preclude price increases.

"I did, however, get a call today from a real estate investor who claims the housing crisis in California is over. He says a house listed under $200,000 got 20 (!) offers and wound up selling for over $200,000."

Great! And the Manhattan real estate bear market will be over when a "studio" (not house) is listed for under $200,000 as well.

BTW, how can any one say that Diana Olick in not qualified to talk real estate?
http://media.cnbc.com/j/CNBC/Sections/News_And_Analysis/__Story_Inserts/graphics/__REAL_ESTATE/pimp_my_house.standard.jpg

SteveF is clearly either a broker or a seller. I'm guessing broker.

steveF bought dozens of studio apartments at the peak, and now is trying to offload them. He's psyching himself into trying to get a higher price.

"If" you believe real estate is really attractive it should be the "smart" money that is selling rather than the "desperate" money.

The "smart" money will sell now and "trade-up" to a bigger place at a bargain price.

So why isn't the "smart" money selling and volume surging?

the type of reporter she is, is not an excuse putting out a completely flawed arguement. all she said was that as soon as a bid comes up, its gonna get hit. thats synonomous with a declining market.

stevejhx..Dozen? Not yet, but I'll get there. Why would I sell my apts?. I'm not retiring for another 30 yrs, they are all rented and real estate is the best investment.