Much Ado About Something
Well, it's happening again. A real estate allegory snatched from the headlines.
By now, we've all heard about the BBC talent show sensation and viral YouTube star, Susan Boyle, whose claim to her fifteen or slightly more minutes of fame is that she is able to carry a tune on pitch with a very pleasant singing voice and a positive stage presence. I also might mention that she is apparently even more famous for what she is not. That is, she is not a half-dressed, tattooed, pierced, bleached blond, no talent, rock star wannabee like most of her competition.
It seems the entire entertainment world is completely dumbfounded that a person who does not fit the pre-conceived, canned, Hannah Montana, Britney Spears visual image of a pop music singer actually has some talent and is not totally reliant on costume, lighting, musical production, dancers and all of the other trappings of successful entertainers in order to perform. It would actually be nice to see a few more actually talented performers from time to time. Maybe this will start something.
But------ on to real estate. Unfortunately, the marketplace that has just collapsed fell victim to the same problem; too much focus on glitz and looks and not enough emphasis on fundamentals. Too many stainless steel appliances and granite countertops and not enough attention to utility, floorplan and location. Too much Flip This House and not enoughThis Old House. Yep - that's right. The real estate market has been Punk'd. Big house - no foundation. While we were Dancing with the Stars, style once again has been trumped by substance.
What to do? What to do? - Maybe Susan Boyle has the answer. Just sing the song the best you can and the rest will take care of itself. For the rest of us - Let's open our eyes and look for actual value in the properties we buy. As a reminder, the two canons of real estate investment remain in force:
1. Location, location, location!
2. You don't make money when you sell your property; you make money when you buy it.
By now, we've all heard about the BBC talent show sensation and viral YouTube star, Susan Boyle, whose claim to her fifteen or slightly more minutes of fame is that she is able to carry a tune on pitch with a very pleasant singing voice and a positive stage presence. I also might mention that she is apparently even more famous for what she is not. That is, she is not a half-dressed, tattooed, pierced, bleached blond, no talent, rock star wannabee like most of her competition.
It seems the entire entertainment world is completely dumbfounded that a person who does not fit the pre-conceived, canned, Hannah Montana, Britney Spears visual image of a pop music singer actually has some talent and is not totally reliant on costume, lighting, musical production, dancers and all of the other trappings of successful entertainers in order to perform. It would actually be nice to see a few more actually talented performers from time to time. Maybe this will start something.
But------ on to real estate. Unfortunately, the marketplace that has just collapsed fell victim to the same problem; too much focus on glitz and looks and not enough emphasis on fundamentals. Too many stainless steel appliances and granite countertops and not enough attention to utility, floorplan and location. Too much Flip This House and not enoughThis Old House. Yep - that's right. The real estate market has been Punk'd. Big house - no foundation. While we were Dancing with the Stars, style once again has been trumped by substance.
What to do? What to do? - Maybe Susan Boyle has the answer. Just sing the song the best you can and the rest will take care of itself. For the rest of us - Let's open our eyes and look for actual value in the properties we buy. As a reminder, the two canons of real estate investment remain in force:
1. Location, location, location!
2. You don't make money when you sell your property; you make money when you buy it.
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