Wednesday, May 16, 2007

Real Estate Lessons: "Junior & The Budweiser #8"

NASCAR? No, I was never really much of a fan. We didn't do that in Upstate New York when I was a kid in the 50's and 60's. Not too much in the way of "Moonshine Mystique" in our world. But then I joined the Army "to see the world." And after they let me see Viet Nam, I found myself at the University of Tampa, on a "bootstrap" scholarship. Now I'd heard of the "Daytona 500" before, but never dreamed I'd actually be in the stands. Being the adventurer, I scored tickets to the race in 1973 - Infield, no less. It was my gift to my father-in-law, a guy who actually co-owned an old Ferrari and rode shotgun in local road rallies. It was our privilege to see "The King," Richard Petty, wheel his #43 Dodge into the winner's circle that day. To say the day was exciting would be an understatement. The Army continued to let me see more of the world... and more car races. How about a Formula 1 race in Monaco? Very cool, indeed.

So, OK, I've got to tie real estate and NASCAR together, right? Here goes... My older (and only) brother is a Catholic priest - "Father Tom," as they all call him. He and I both inherited our father's unusual sense of humor... ( "How much wood could a woodchuck chuck, if a woodchuck could chuck wood?" "Gosh, I don't have any idea. How much?" "Two cords." "Two cords? Why?" "Well, it's just something you've got to know." ) We'll observe something and both start to laugh, while others stare vacantly, waiting to "get it." Back in the 198o's, a famous (or, perhaps infamous) bumper sticker popped up. It read: "Sh** Happens" Well, my brother, the Father, went nuts. After he saw it the first time, he could not stop being amazed by its simple, yet profound message. Surely, it must be of biblical derivation. We'd say it... then laugh for ten minutes... then say it again. We tried to clean it up, by substitution, but "Stuff Happens" just wasn't funny. To this day, some twenty years later, when anything goes awry... we know what to say.

So the buzz in NASCAR this week has been all about Junior (No, he hasn't gotten his real estate license, that we know of). All season it's been about his squabble with Dale Senior's wife - and how he wants at least a 51% interest in DEI Racing. Then he goes and announces he's leaving after the season's done. And does icing make the cake better? Yes. Yesterday revealed that Dale will be docked 100 points and his crew chief will be fined $100,000... for fiddlin' with the rear wing mounts on their Car of Tomorrow. Wow. Sh** Really Does Happen.

As the years have unfolded, I've taken that standing joke and done some fiddlin' of my own. I've changed it to: "Sh** Happens. So What? Now What?" It's my way of acknowledging life's randomness... and then dealing with it. Try it - it works. Junior's crew was like that this week. The team president, Max Siegel, met with them and observed that "Nobody was freaking out. Everyone went into a "What do we do now" mode. It is what it is. It's unfortunate, but we'll move on." I guess DEI read my mind and simply paraphrased, "Sh** happens... So what?... Now what?" Hope it works for them.

Real estate is just like that... whether it's Palm Coast real estate, Flagler Beach real estate, Ski resort property, California, Virginia, or New York... Sh** happens. I've studied this, and on average, markets have cycled about every seven years in the sixty years since WWII. Now we're in a race to the bottom, price wise. Positive spin? The sooner we get there, the sooner we start the climb back up. So we should all do just like Dale Jr. and his crew: Don't freak out. It is what it is. It's unfortunate (if you're a seller) but we should move on...

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