[In The Media] Bloomberg TV: 7-9-09

July 10, 2009 | 10:35 pm | | Public |

Bloomberg called me to last minute to have a conversation with anchor Carol Massar and real estate reporter Oshrat Camiel on our just published Manhattan Rental Market Overview 2Q 09.

Watch the clip.

Always a pleasure – Bloomberg runs an efficient operation and you can’t beat their snack bar.


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[In The Media] NY1: 7-10-09

July 10, 2009 | 9:35 pm | Public |

Here’s NY1’s coverage of our 2Q 09 Manhattan Rental Market Overview released yesterday. Jill always does a great job covering real estate topics.


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[In The Media] CBS-TV Channel 2: 7-2-09

July 6, 2009 | 3:20 pm | Public |

Here’s a quick tv interview I did with Magee Hickey of WCBS-TV 2 in New York covering the report release. She was very nice and almost apologetic saying the segment would be brief and not cover the study in depth because of time. However, I feel she did a great job and got the main points covered. More of a challenge considering the fact she had been working since about 2am that morning and the interview was done at about 2pm.

Here’s the Magee Hickey article and here’s the video covering the results of the report.


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[In The Media] CNBC SQUAWK On The Street 7-2-09

July 2, 2009 | 1:13 pm | Public |

Diana Olick did a nice job covering the important points on the release of our Manhattan Market Overview 2Q 09.

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[In The Media] Fox Business News 6-30-09

June 30, 2009 | 11:36 pm | Public |

I did another stint on Fox Business News covering the The Home Valuation Code of Conduct (HVCC) and how appraisers feel about it.

Last week I did an interview about HVCC on FBN with Neil Cavuto. I’ve been interviewed by each of the anchors Brian Sullivan and Dagen McDowell on prior occasions. Both very nice people. Always fun to do these.

View the clip.


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[In The Media] Fox Business News With Neil Cavuto 6-23-09

June 26, 2009 | 6:07 pm | Public |

Fox Business News reached out to me after the NAR existing home sales monthly press release where they blamed appraisers for stalling the housing recovery.

And you know what? NAR is not completely wrong about that, but their solutions show how much they don’t understand the problem.

Play the clip.


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[In The Media] NY1 6-21-09

June 21, 2009 | 11:49 pm | Public |

List Price Key In Real Estate Slowdown
By: Jill Urban

It’s all about setting the right price in the current market – sellers have more properties to compete with and need to consider all inferior amenities when setting their list price.

Jill called me to do this piece during an unbelievable downpour on Thursday. You really can’t tell I was soaked.


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[Contract Contingency Quagmire] A Seller Decides To Keep A Buyer’s Life Savings

June 16, 2009 | 8:41 pm | Public |

Tonight the well-known consumer reporter Tappy Phillips of WABC’s 7 On Your Side covered the story of a couple who entered into a purchase agreement on a co-op with a mortgage contingency clause that made the deal subject to the lender providing a commitment letter. I was interviewed briefly saying that most contracts in our market are being signed with mortgage contingencies.

The buyers got a commitment letter from the lender but at some point the lender changed their mind after discovering the co-op was subject to a ground lease.

The seller decided to keep the downpayment because the buyers did get a commitment letter and the down payment would help defer the loss of value on the property during the time the property was under question. The seller did not appear in the segment.

Several thoughts come to mind after hearing this segment:

  • Based on this presentation, the seller focused on their technical interpretation of the contract – morality and empathy took a back seat to money.
  • The buyers can’t afford to fight to get the money back.
  • Never underestimate the need for a good attorney – contract boilerplate sounds impressive to us laymen but it may be not protective, especially now in a weak market.
  • Why isn’t the lender culpable in some way? In other words, aren’t we playing with semantics by calling a “commitment letter” a “commitment letter”, when in fact, they aren’t “committed” to lending if they find something wrong later on? They don’t have any skin in the game.

If the commitment letter was called a “a huge bag of donuts list” instead, would this situation still exist? Or is it more complex than that?

We are starting to hear about funding contingencies to protect the buyer if the lender doesn’t show up at closing.

There will be more of these types of situations going forward in weaker market. It shouldn’t make anyone scared to buy property – they simply need to upgrade their appreciation for the quality of professional advice.

I hope this story has a happy ending.


[86’d] Up A Notch In Power Poll

June 3, 2009 | 11:45 am | Public |

The New York Observer, and it’s heavy coverage of New York City/Hamptons real estate released its annual (and obviously highly scientific research of an empirical topic):

The 100 Most Powerful People in New York Real Estate

After a year of hard work burning the midnight oil seven days a week, I was able to move up one position to 86. Goal met. Life is good.

It’s not clear how a real estate appraiser became one of the most visible real estate icons this side of Dolly Lenz, but when the media-savvy, Web-connected Mr. Miller speaks, New York listens. His market reports are like a quarterly Super Bowl.

Hey, I’m the only appraiser on the list.

Ok, back to work.

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[In The Media] Bloomberg TV 5-23-09

May 25, 2009 | 10:46 pm | | Public |

Both Hamptons sales activity and sales prices are down. Ok.

The looming Memorial Day weekend – summer, beaches, vacations, getaways – made The Hamptons a favorite topic.

Hamptons Homes Drop Most Since Realtors Kept Records [Bloomberg]

The Hamptons: Economic Downturn or Killer Tornado? [CityFile]

Bargains abound for well-heeled in the Hamptons [AP]


Trivial background stuff to ignore – down to the wire via remote

Thursday night I got a call from Bloomberg TV asking if I could come to their studios to do a segment and I begged off. I had opted to work from home on Friday because one of my kids was getting an award at school in the morning and I wanted work at home…plus it was the Friday before Memorial Day weekend. Wait, why am I justifying this? 😉

They offered to set up a remote interview (third party company) in CT so I didn’t have to commute into NYC. Easy enough. Google maps said the remote studio was 10 minutes away – I gave myself 25 minutes. The address wasn’t on my GPS unit so I used my iphone, following the pulsating blue dot.

15 minutes before air time
Forgot about heavy Memorial Day traffic.

10 minutes before air time
I got to the street, but there were no numbers on the building I was ultimately looking for but I ran out of street. There was a security booth at the end of the street and a woman without teeth in the booth grunted to go around the corner.

7 minutes before air time
I enter the parking garage, which connected multiple buildings, and of course none were identified with numbers. I guessed it was the farthest building away. I was right.

5 minutes before air time
The lobby security guard had no idea where a TV studio was, so I called the contact number and they told me what floor to go to.

3 minutes before air time
I took the elevator to the floor and no one is there – just a series of glass doors in 3 directions. I picked one and started walking around trying to find the studio. Nothing was labeled.

1 minute before air time
Some came out of an unmark door, took me to the remote studio, mic’ed me up with a minute to go. And then anchor Peter Cook in DC started speaking to me to get acquainted.

air time
We went live and the TV feed was Fox News for the first 30 seconds instead of Bloomberg – a bit confusing. But somehow it worked out.

And I made it to my son’s award ceremony.

Listen to the segment.


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[Social Networking+Real Estate] Diving for Wisdom from a Panel of Green Pearls

May 20, 2009 | 9:25 am | Public |

About a month and a half ago, I participated in a panel discussion on social networking held by Ryan Slack of GreenPearl.

Allie Herzog of Quinn & Co. who was the moderator, posted an introduction to the panel discussion at the GreenPearl event – the video clips are available online. The series is surprisingly informative, despite my participation.

If you’re interested in learning about the topic, I feel pretty strongly that it’s worth listening to even, even if the weather is nice outside and you do have a life.



1-Across Is No Puzzle

May 19, 2009 | 4:06 pm | | Favorites |

trdMay09crossword

The Real Deal Magazine, one of the best resources for real estate information on the New York housing market, also delves into the world of crossword puzzles in each monthly issue.

You know you’ve arrived when you make it to 1-Across.

Stumped?

Ok, back to work.


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#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
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