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Happy New Year – 2020 Market Thoughts

By January 16, 2020 No Comments

As a firm New Year’s resolution-making fellow, I totally buy in to the freshness that the New Year can bring and the fact that it’s a great place for a fresh start for anyone wanting to make a change.

As I make my new year commitments and of course reinforce the old ones that I know are important, I am often left thinking about what the real estate market will bring in the next twelve months.

And as cliché as New Year’s resolutions may sound, I am also a complete sucker for ‘click bait’ articles online and have read 20 of them where prognosticators give me their expert opinion of what the next decade will bring.

I’ll caution myself to refrain from telling you what “is” going to happen and instead try to picture frame for you what I think will happen.

I have come to realize that when it comes to trying to predict things, we need to focus on facts instead of being drawn to what we want to transpire. A wise friend once told me that the two most important factors in a strong real estate market are interest rates and employment, and I have noticed how right he has been. If those are the factors that create stability in the market place, what factors add to the vibrancy? Well, in its simplest form, you have available housing going down, and population going up.

That alone is enough of a sales pitch for me to buy.

Compound these simple factors that make our market strong with the fact that we have sprawl and new build opportunity coming up very slowly, and then add in that over the last 5 years the secret is out about what this wonderful city has to offer, and in short, I’d say we’re in for another busy spring.

It’s a great market for sellers to achieve their goals, with a plethora of buyers both locally and from more expensive communities recognizing value. And also, it serves as a reassuring market for the buyers, who come to figure out that what they are paying for should be in continuous demand in years to come, which not only helps them achieve their real estate and lifestyle goals, but provides a wonderful investment as well.

For those that say “a home isn’t an investment”, I would have to disagree. The only time that is true is when the return isn’t there. Frankly, if you can do extremely well financially buying something you need to, then there are few better investments. That’s like me getting a dividend on the groceries I buy!

 

 


I’m not always right. My team is out of the playoffs this year in football and I’ve never been able to figure out the stock market, but when it comes to real estate I know my clients money is well invested.

And when it comes to feeling bullish about what a wonderful city we live in, well it honestly seems hard not to be excited about the next year.

Happy New Year everyone.

 Please don’t hesitate to reach out anytime with any real estate questions or needs.


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