Diana Olick is an Emmy Award-winning journalist, currently serving as CNBC's real estate correspondent as well as the author of the Realty Check section on CNBC.com. She also contributes her real estate expertise to NBC's "Today" and "NBC Nightly News with Brian Williams."
Prior to joining CNBC in 2002, Olick spent seven years as a correspondent for CBS News.
Olick began her career as a local news reporter at WABI-TV in Bangor, Maine; WZZM-TV in Grand Rapids, Mich.; and KIRO-TV in Seattle. She joined CBS in 1994 as a New York-based correspondent for the "CBS Evening News with Dan Rather" and "The Early Show." She also contributed pieces to "48 Hours" and "Sunday Morning." During that time, she covered such stories as the World Trade Center conspiracy trial and the Boston abortion clinic shooting.
In 1995, Olick was assigned to cover the Midwest as a Dallas bureau correspondent. In the three years she was there, she covered all forms of natural disaster, including the crash of TWA Flight 800, the JonBenet Ramsey murder mystery and was the exclusive correspondent for the trial of Oklahoma City bomber Terry Nichols. During that time, she also took a temporary assignment in CBS' Moscow bureau, where she chronicled the brief presidential campaign of Mikhail Gorbachev.
In 1998, Olick was reassigned to the New York bureau and then immediately posted to Bahrain for the buildup to a possible second Gulf War. A year later, she went to Albania to cover the U.S. military buildup during the conflict in Kosovo.
Upon her return, Olick was reassigned to CBS' Washington bureau and the Capitol Hill beat. During Campaign 2000, Olick covered the Senate campaign of First Lady Hillary Rodham Clinton and later joined the Bush campaign as a special correspondent for "The Early Show." That fall, she was named Supreme Court correspondent; her first case was Bush v. Gore.
Olick has a B.A. in comparative literature with a minor in soviet studies from Columbia College in New York and a master's degree in journalism from Northwestern's Medill School of Journalism.
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We all know that the biggest barrier to meaningful recovery in the housing market is the glut of foreclosed inventory on the markets. So finally some good news. A new survey from online real estate sale sites Trulia.com and RealtyTrac.com shows increased buyer interest in foreclosed properties.
Recently I wrote about the new Home Valuation Code of Conduct, which forces a sort of fire wall between appraisers and mortgage brokers/lenders. It has caused uproar in the appraisal industry, as new middleman threaten to chase local appraisers with local relationships out of business. But now I’m hearing rumblings of another sort in appraisal country.
Today the Obama administration announced a new addition to its Making Home Affordable program that gives servicers and borrowers incentives to do short sales and deeds in lieu of foreclosure.
First Ebay and Etrade, now Erealestate in Manhattan, but they're calling it "Bid on the City" or: www.bidonthecity.com. This is a new auction site, launched in April that will hold its first online real estate auctions on May 14th and 17th. So far, on residential, they've got five properties up for sale, including one for $15 million!
Is it just possible that the nationwide home price depreciation numbers are wildly skewed to the downside due to the fact that the only properties selling right now are either foreclosures, short sales, or people who really really have to move for some important reason?