May Newsletter

The housing market looks like it’s heating back up (and really, did it ever stop)! A recent industry article suggested next year will be our highest home prices ever. EVER! One never knows if that is true. People often ask for my professional “insights” (mere guesses, IMO)… As I always say: I could predict the future, I wouldn’t need to work for a living!

The truth is, no one can. No one predicted COVID-19 (a pandemic, sure, but with any certainty or outcomes, no). Some may have predicted the moderate recession following the pattern of real estate cycles and most of us are a little closer to home. Those real estate crash guys haven’t been right yet.

Straight facts = developers are buying big parcels of land, waiting for the final zoning announcements (and I would guess, leveraging lower fixed rates). If you sell high to leverage out, and buy low, you will be squeezed in the middle as the lower-cost homes (ranchers on small parcels, bigger townhouses and out of area (Penticton, Kamloops, Kelowna, the Island) will continue to rise in value and their gains may outpace the gains in the higher-end detached homes. Therefore, losing money on the NET.

I am a planner, a conservative planner. If you want a plan that you can rely on, from a team that sweats the details and wants to ensure you are making informed choices, give us a call. Not only will we do the math, we will help you find that next place or the PERFECT agent that will help me, to help you get where you want to go.