Well it’s been another whirlwind year in the real estate business! A ridiculously hot market finally petered out in late spring after showing significant signs of softening in 2017. The two senior levels of government have successfully tag-teamed against a market that was adjusting downward already, softening it further, pushing values and sales down in our market area.
Today’s market adjustment is creating buying opportunities for first time Buyers, those needing a larger home, folks wanting to buy acreage, or investors looking to add a piece to their portfolio. If you’re a Buyer, it’s a time to be patient, but not foolhardy. If you’re a Seller, it’s a time for smart pricing, getting ahead of a downward trend, thereby putting more $$$ in your pocket in not chasing the market, hoping for ‘that one Buyer’ that is likely sitting on the sidelines.
While values are adjusting downward, there’s never a promise any trend will continue. A softening market always creates the unintended consequence of the next ‘super-hot’ cycle. I can never predict specifics, but I’ve seen enough cycles in my thousand or so years as a Realtor to know this will occur. In my mind, when the next upswing hits, it will be other worldly, even beyond what we saw with the recent market insanity that is now in our rearview mirror……..or backup camera, if you’re that trendy.
One of my favourite quotes is by Ralph Waldo Emerson, “The years teach us much, which the days never knew.” The years continue to teach me appreciation for my profession, for the loyalty and trust of Clients, appreciation for folks that know us, trusting us to be honest and honourable with their real estate and their lives. Real estate involves us intimately in our Client’s lives, whether with growing families, end of life situations or special housing needs, you honour us with your trust and your personal referrals. Thank you! You are the lifeblood of our business.
From our homes to yours, we wish you the very best of the Christmas Season and into the New Year!