Facebook Mania

By Elena Gontar

When I first heard of Facebook I thought it was a social network website to communicate with friends and connect with long lost acquaintances. I thought it would be primarily for people who want to reach out to those they know. And apparently that was the idea a few years ago, when Facebook was first invented. It was initially restricted to college and high school kids to chat and swap photos with friends. But all that changed a couple of years later, when more and more people joined Facebook.

But lately I was surprised to find out that mid- and large-size businesses use Facebook to promote their organizations and/or their company’s missions and goals. It’s amazing. I find it incredible that Facebook not only helps people find each other, but also assists companies in advancing their businesses. I’ve been on a few job interviews in the last few months and Facebook has been mentioned almost every time.

I personally joined Facebook a few months ago to network with my former co-workers and to find out what happened to people I haven’t heard from in years. Facebook keeps you up to date with your friends/colleagues and you don’t have to go far to connect with someone. Some people are more open than others. While some might basically keep a journal on Facebook for everyone to read, others don’t display much information about themselves. For instance, I personally don’t write much about myself on Facebook – I’ve always been sort of a private person – but I just love to read what others write.

So, if you are not on Facebook yet, what are you waiting for? Join now. I think it’s addictive. And if you are looking for a job, like me, you’ll find it that almost every business is on Facebook . So, you’d better be prepared and explore it now…

Elena Gontar is a real estate writer in Brooklyn. She can be reached at elenagontar@gmail.com.

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Posted Monday, October 26, 2009 @ 6:27 AM
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Economy Still Unstable?

By Elena Gontar

Given the industry’s current slump and the declining economy, any major real estate deal is particularly promising. In the last few months there have been quite a few of those. In view of the turbulent state of the market as of late, the latest leases and sales could provide some hope that a recovery is nearing. On the other hand, as the economy remains in the slump and continues to demonstrate evidence of instability, can occupancy across major sectors reverse its recent downturn? Is there likely to be a large-scale recovery anytime soon? May we dare to hope?

Also, as the difficult economic times continue, the unemployment rate keeps on the increase. However, when I was still working at Commercial Property News, new-hire announcements used to hit my inbox every day, and I had to write news briefs for CPN’s People on the Move section on an almost daily basis. One thing that has caught my attention is that many firms were busy tapping new managing directors, senior vice presidents and other high-level executive positions. As the nationwide unemployment rate continues to march upward, will real estate firms continue to make new executive hires? Or could the employment slowdown reach the upper management levels?

Elena Gontar is a real estate writer in Brooklyn. She can be reached at elenagontar@gmail.com.

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Posted Thursday, September 17, 2009 @ 6:42 AM
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Staying Positive in Tough Times

By Elena Gontar

The recession continues and, for some firms, things are not getting better. Most recently, I have been let go from my position as a news writer and editor for one of the leading commercial real estate publications. After 22 years of successful run, the product is rebranding and due to drastic budget cuts, most of the staff had to go.

After eight years with the publication, I was almost positive that the recession was not going to affect me or the product. But it did.

The announcement came in the wake of a bulk of bad news in the industry. And when I think about everything that’s been going on, I fear more difficult times are ahead. While still on staff, I covered daily news, and was amazed to see how many firms went bankrupt or had to close down.

Just a little over two months ago – in April – two major firms in the industry had been forced to say uncle in bankruptcy court. Mall owner and operator General Growth Properties Inc. filed for Chapter 11 protection in United States Bankruptcy Code. Moreover, nearly 158 regional shopping centers owned by the firm also filed for bankruptcy protection. A few days after the announcement, the firm said that certain additional subsidiaries, including eight regional shopping centers, were also seeking relief under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York. And just days after GGP’s bankruptcy announcement, Opus South Corp., one of the divisions of Opus Corp., also filed for Chapter 11.

Is the recent spate of bankruptcies just the tip of the iceberg? As the economy continues its sluggish performance and credit markets remain frozen, will the industry see a rash of bankruptcy filings?

And as the difficult economic times continue, the unemployment rate keeps on the increase. At a time of aggressive store closings, shrinking sales and bankruptcies, it is not easy to stay positive. But I, for one, have no other choice. I always say: Whatever happens is for the best and while one door closes, the other door opens. Right?

In the meantime, during my second week of being unemployed I still can’t help but search the wires for real estate news. It’s a habit that I won’t be able to break for a long time.

So, yes, life can be unfair and at times difficult, but feeling depressed isn’t going to help. My advice to those who are in the same situation as I am at the moment is to stay positive and look on the bright side. Get motivated and something good is bound to happen.

Elena Gontar is a real estate writer in Brooklyn. She can be reached at elenagontar@gmail.com.

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Posted Thursday, July 16, 2009 @ 6:10 AM
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