::::::::::::: Newsmakers :::::::::::::
Real-Estate Seer
BARBARA CORCORAN A Tycoon’s Tips
CLOCKWISE, FROM TOP LEFT: MICHAEL LEWIS; ILLUSTRATION BY SEAN MCCABE (PHOTOGRAPH
BY SCOTT MCDERMOTT/CORBIS OUTLINE); MARTEN CZAMANSKE/UNIVERSITY OF ROCHESTER
BU Y NOW! That’s the hot
advice of respected hous-
ing expert Barbara Cor-
coran, who says she’s never
seen a better time to pur-
chase a home. “Typically
when real-estate prices are
low, interest rates are high.
This is the first time I’ve
seen cheap money and
cheap prices simultane-
ously. This is the good old
days we’ve dreamt about.”
Corcoran has a knack for
timing. Having parlayed a
$1,000 loan into the high-
end New York City real-estate firm she started,
The Corcoran Group, she
sold the company for
$66 million in 2001, before
the market cratered.
Now, as an investor on
ABC’s Shark Tank, Corcoran
encourages buyers to jump
at the abundance of good
deals. “It’s a perfect time to
snatch a bargain or to upgrade,” she says. And when
does she think the market
will rebound? “Real estate
is slow to unwind but fast
to recover. I suspect we’ll
make up most of the loss
of the last four years within
the next 18 months.”
—Laurie Wiegler
Clothes Call
The college dean–turned–Project Runway
star ruminates on dress and success
Fashion Choices: “Fashion signals how the
world perceives you. You have to ask your-
self, ‘ Who am I, really?’” Biggest Challenge:
“Getting over a childhood stutter. With-
out conquering that, I never could have
become a teacher, and dealt with stage
fright.” Remaking Yourself: “I would never
be 30 again, not for a zillion dollars, be-
cause every experience makes us better
prepared for the future.” —Dan Daley
