LOOKING BACK AT 2025 AND AHEAD AT 2026

It’s that time of the year again when all the best and worst end of the year lists come out so I thought, hey why not? Except this isn’t a list. It’s a collective look at what has happened and maybe some crystal ball gazing in what might happen next. Please don’t hold me to any of this. Merely my thoughts on what might happen. The past year provided many with a more realistic look at the Real Estate market. We know this market is like all others – it goes in cycles. The up cycle was briefly in 2016 and 17 and then came full speed in 2019 to 2022 going through the life-changing pandemic. The damage that scourge wreaked will be felt for years. Prices in outlying areas that up until then were reasonable and also negotiable became insane. What’s worse is trying to get sellers to realize that the party is over. That ship has sailed. Let’s get back to buying and selling in a more balanced and reasonable market. For many, this is just not easy. Guess only time will tell. The real mark of someone’s selling threshold is just how much they absolutely need to sell. The mortgage rates sure haven’t helped in the last 5 years. Following record lows for rates, things got a little crazy. And by crazy I mean in today’s world. I often tell people that rates were in double digits beginning with the number 2 in the early to mid 80s. Hard to believe these days when people are carping about rates being over 5%. Have to admit I was one of those. We recently renegotiated for a new term and are now under 4%. That’s a huge savings monthly. I have to also add that we were treated with respect and class by a very personable young man named Coleman. Big difference from the last time we re-upped. At that time we were almost made to feel like the bank was doing us a favour letting us spend big bucks on interest with them. Sad when egos get in the way. So it’s no wonder that people were holding their breath when Tiff was announcing the latest rate cuts the past 6 months. Here’s hoping there are a few more. As we head into the new year it should be plain that some more cuts will be inevitable and needed. In spite of the last round of cuts, buyers are still sitting on the sidelines. All the crazy stuff going on with the States has certainly added fuel to that fire. Let’s hope some sanity comes into play and with it some confidence in the job market. It also looks like there’s been a shakedown in the number of agents in the business. That, too, is long overdue. The many that jumped into the game in the last 5 years is insane. They just saw this as an easy ride and a path to big bucks with little or no work involved. Guess again. Mostly, I hope if you are buying or selling that you have a pleasant and rewarding experience. That really should count for something.

Feel free to check out this story and more on my blog site at: https://slackie14.wixsite.com/buy-sell-and-more