Some early January market thoughts....

By
Real Estate Broker/Owner with Sea to Sky Premier Properties (Salt Spring)

January, 2012.

Happy New Year!

Property Photo

I think many people will be glad to see the back of 2011...we may look back a few years from now and decide that 2011 was the key year in the societal shift that has been underway since 2000. Key in the sense that change erupted in all spheres & all at once...political, economic, societal, and personal...you name it, it will have changed, shifted, evolved, erased...and what about the newly created? 2011 seemed to be the year all elements conspired.

The economic downturn of October, 2008, global in its impact, broadened from the housing bubble to the banks and to Wall Street. Now it has further expanded to the geopolitical level. Nothing is exempt...the Arab Spring, the Eurozone meltdowns, the economy continuing to wallow in the doldrums, the power of the consumer of services restlessly angry...think about the now global Occupy Movement & the new Russian dissatisfaction with potentially rigged elections...plus wars & rumours of wars & unrest in Syria, Iran, Afghanistan, Pakistan, DR Congo...shift everywhere!

In change lies opportunity...well, yes, but the speed of change is the unknown. The internet's binary rhythm (on/off, act/react) can occur in an eyelid's blink. In the past, change was a much slower animal...in some cases, it was possible to think through a shift and to reposition.

Today, our technology has erased time, and instant responses are demanded. Flexibility has become an essential. Twitter's immediacy gets data out there asap, and the reaction to it is just as immediate.

What about our editing function? Important to turn all that undifferentiated data into worthwhile information...what's important/what not?

I like to save my projections till later in the month...so many trajectories underway: the uncertain outcome of the bid to save the euro world, the worry about the U.S. ability to restructure & move forward, the concern over outcomes in North Korea, the potential for unrest in China, the continuing dilemmas of terrorism & sectarian violence in Africa & in the Islamic world, and the potential for unrest in Russia. Important, I think, to digest the effects of the last quarter of 2011, and to see what the winds of change are blowing our way in the first quarter of 2012. Perhaps the real beginning to a new year is in early March?

Hmmm...the Chinese lunar new year is earlier this year, arriving at the close of this month, and heralding the Year of the Dragon. Sounding fiery?

Important at such moments of flux to remember what is important...to be thoughtful with our nearest & dearest, to be inclusive & remember those on their own or needing a helping hand, to take time to eat healthily, to walk that 15 minutes a day, to admire a beautiful day, to breathe deeply and to calm that rapid fear-based breath. Read more, less t.v. Move away from the virtual world and take five in the reality check zone. Learn something new...how about a foreign language? A humbling experience & a way to keep the mind active!

It's the start of a New Year, with everything before us, second chances & new discoveries...let's take five and accept the challenge.

Oh, yes...the real estate market...well, I think it's hard asset investment time again, and that those who can will seek safe havens...both as a way to preserve capital and for personal safety/sustainability. Regions such as the Gulf Islands/Salt Spring Island and Vancouver Island will be on the shopping list. Inventory is medium, interest rates remain historically low, prices have reduced around 30 to 35 % between 2007 and now...sellers are highly motivated, allowing for further reductions at the point of an offer. An ideal time to be a buyer.... It may be that we are entering year seven of a seven to ten year cycle, and thus are already slowly on the way up.... Hmmm. Wish I could find where I put that crystal ball!

More information? Call me!

How may I help you to buy your Salt Spring Island or other Gulf Island property?

liread33@gmail.com

 

 

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Rainmaker
133,637
Marcia Kramarz
Re/Max Executive Realty - Medway, MA
CDPE,LMC,CBR

Really?  Vancouver and that area has really seen a drop 30-35% - That area seemed like it wasn't touched by the economical shift - 

I don't watch the area too closely - Have one nephew who lives there and have been there visiting but I have family all across CA and boy, it seems like things are doing well - especially in NL where oil is helping their economy I guess - 

Just my thoughts from afar...

Jan 02, 2012 12:24 PM #1
Rainmaker
981,194
Edward & Celia Maddox
Solutions Real Estate - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

The big item to turn-around is the employment situation and reduction of the foreclosure market.

Jan 02, 2012 12:25 PM #2
Rainmaker
1,127,555
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hi, Marcia...appreciated your comment!   It seems that secondary home markets (which is mine) were affected by lack of buyer confidence, and so sales were very sporadic in such locales.    Vancouver is a neighbourhood city, and some parts were brisk and others "flat"...location, again, I guess.   Does seem that the appraisers are right...between mid-2007 and now, prices reduced in most areas of B.C. around 30 to 35%.    That was the past, though...this year may be quite different!

Jan 02, 2012 12:36 PM #3
Rainmaker
1,127,555
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hi, Edward & Celia...good to hear from you.   You are so right...and no place, globally, is unaffected by events in the U.S.    Our system is a little different, here, but we are all in the same boat.

Jan 02, 2012 12:37 PM #4
Rainmaker
1,246,837
Wanda Kubat-Nerdin
Prado & Kramer Real Estate, St. George, UT 84770 - Saint George, UT
Your Preferred St. George Area Real Estate Agent.

Li, Most of my 2011 business was cash in the second home market as southern Utah is a very desirable area due to small town atmosphere, mild winters, sunny skies and clean air. Now is still a great time to buy while prices have come down to realistic standards, enjoyed your post. Wishing you the best for the New Year!

Jan 02, 2012 01:00 PM #5
Rainmaker
72,905
Shelby DiBiase
REMAX Professionals - Phoenix, AZ
Investing In Your Future

Hi Li, great blog! I feel like there was so much going on in 2011, a very tumultous year to say the least and the big question still lingers, everyone is holding their breath wondering if the economy will re-structure efficiently, like you mentioned, and not just the USA's economy, but the worlds. I really hope that change will come in 2011 and that it's for the better, hopefully we will have learned from our own mistakes and will not repeat them.

Jan 03, 2012 11:21 AM #6
Rainmaker
1,127,555
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

I think we must have the same kind of market, Wanda...appreciated your comment!

Jan 03, 2012 12:59 PM #7
Rainmaker
1,127,555
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Thank you, Shelby, for your very thoughtful comment...appreciated!

Jan 03, 2012 01:00 PM #8
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Rainmaker
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Li Read

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