HGTV's Real Estate Intervention: a new housing show for a new era
Filed under: Real Estate
As the collapse of the housing bubble has rendered many of HGTV's biggest hits tragic relics of a bygone era, the network has been looking for ways to adapt and create content that acknowledge the changing market, and offers viewers ideas for how to deal with it.Enter Mike Aubrey, the star of HGTV's new show Real Estate Intervention, which debuted last month. The latest episode features Georgetown condo owner Evelyn Fine, who needs to sell her home because she's been unemployed for the past six months. She had lived in the home for nearly 15 years and while she had paid under $400,000, the pricey renovations she financed with home equity loans mean that even if she does get her $999,999 asking price, she won't walk away with more than $100,000 or so.
The home's been on the market for three months with no offers and so real estate agent/hard-ass Mike Aubrey shows up to help Ms. Fine evaluate her home, look at the comparables, and find a way to get it sold in a hurry.
What follows is a lesson in the dangers of what behavioral economists call the endowment effect: The fact that her condo is hers makes her completely unrealistic about how it stacks up in comparison to other properties, and so after looking at the comparables, she becomes convinced that her $999,999 price tag is too low -- even though it's been on the market for three months without any offers.
The takeaway for prospective home sellers is this: Even if you do decide to try to save the commission and sell your home yourself, bring in a few real estate agents to give you an idea of what they think it's worth. If their suggested price points are a lot lower than yours, don't be surprised: You think it's worth more because it's yours, but they're probably right.
Real Estate Intervention might not be as entertaining as the go-go years shows like Flip That House and My House is Worth What?, but at least it's actually educational. If you're a real estate junkie, this is one worth adding to your schedule.
HGTV airs the show on Thursdays at 10:30 PM.
Reader Comments (Page 1 of 1)
7-16-2009 @ 9:20AM
Danny said...
GREAT SHOW! My wife suggests to shave the mustache. The Charlie Chaplin look is TRULY outdated.
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7-16-2009 @ 6:33PM
L. Davis said...
I totally hate this show. The commercials show an over confident man who thinks he knows more than the world.. He appears to be controlling and arrogant. No homeowner needs that and anyone who would trust a man with a wink, as though he is a player, is one I think will get played. The show may have good intentions, but I think you have the wrong man. I will not watch this show.
Just my feelings
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8-28-2009 @ 12:55PM
Dawnn said...
This Show is GREAT...He tells the homeowners what they NEED to hear not what they WANT to hear.
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9-03-2009 @ 11:13PM
Sean said...
The show has potential....it needs tweaking. It's clear the woman on the Georgetown episode was divorced from reality. I like Mike's candid, no nonsense approach. I think she also needs a visit from the folks at Clean Sweep (different network). That aussie guy would tell the woman that "she's drinking too much of her own kool-aid".
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9-15-2009 @ 8:39AM
ekonglo@aol.com said...
The show is getting boring and repetitive.
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9-19-2009 @ 12:24PM
Concerned said...
Did you see the show on Thursday night ( September 17), same show, but different story. Everyine eles was either looking to make big bucks or had jobs to go to. These poor folks had neither.
Great looking house, but the housing market just fell out from under them. Banks dont care,, and wont help. All the "bailout" moeny they got from the government should go to help people like them, but it just goes to buying more banks.
I hope someone sees what a great deal this house is and buys it.
10-04-2009 @ 11:12PM
MERI HOLMES said...
I LIKE THIS SHOW AND I ALSO THINK MIKE IS CONFIDENT AND DOING A GREAT JOB TELLING HOME OWNERS WHAT HE THINKS WILL WORK FOR THEM. WHY PEOPLE THINK HE IS ARROGANT BEATS ME...HE IS JUST TELLING WHAT HE KNOWS FROM WHAT ALL HE HAS SEEN OUT THERE IN THE REAL ESTATE WORLD. I WISH HE WOULD COME TO NC AND INTERVENE MY HOUSE THAT I AM SERIOUSLY THINKING ABOUT SELLING SOON. THIS IS A HOME MY MOTHER LEFT ME WHEN SHE PASSED AND RENTERS ARE REALLY NOT GOOD FOR ME CAUSE I AM SO PARTICULAR ABOUT THIS PROPERTY.
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