As 2019 winds down and we begin to spend the holidays with family and friends, our real estate team has reflected on our busy year and we are most thankful for the clients that we have been blessed to work with this past year.
We recognize that this has been a challenging year economically, socially and politically for our province, country and many places around the world. May the spirit of the holiday season lift our spirits and bring us moments of joy and togetherness that will sustain us through these tough times here at home in Alberta.
As we all know, the general mood in Alberta has become increasingly somber for some and restless for others since the federal election and consumer confidence has been shaken. As Albertans, we need to settle into the market that we are in and find ways to develop growth and increase optimism for our future. It is up to all Albertans to help one another and focus on building an optimistic future.
From a real estate perspective, we will most likely be in a very similar market in 2020 and possibly 2021 unless we start to see huge migration of employed people into our province. The latest outlook from the Canada Mortgage and Housing Corporation predicts the next two years could see a modest recovery. With steady sales and a lower listing inventory, we anticipate a refreshed market in the new year which will hopefully bring fresh new listings with reasonable prices that intrigue the buyers to make a move in the market.
Though the winter months are seasonally slower, there are some advantages to both buyers and sellers in these coming months. Sellers will benefit from having more serious buyers in the market for two reasons. Buyers that are shopping during this time are typically more motivated in needing to find a property and there also will be less inventory on the market to shop. The buyers shopping will benefit because of a smaller buyer pool and thus, sellers need to price their properties more aggressively within the market to gain the interest of the buyers. In the end, the price and condition of the property must be appealing enough to attract the buyers and both sides of the deal must be willing and flexible participants.
As the close of 2019 brings with it the end of another decade, our minds start to wander to the next year and what 2020 will bring. It will feel good to wipe the slate clean, feel refreshed from the holiday season and ready to tackle the new year and a new decade. Whatever your real estate goals are, a solid plan will help make those goals a reality. For a comprehensive consultation on buying or selling in 2020, give us a call to help put your plan in place.
Although we truly value our real estate business, it’s our family that we value the most – here’s a little update on our family!
Our oldest, McKenzie is working hard on her degree at Carleton University in Ottawa; making the Dean’s list this past year. She has one and half years until she graduates with her Bachelor’s Degree of Communication and Media Studies and then, plans to return home to Alberta’s blue sky. Cassidy is loving her studies at Olds College and will obtain her Ag Management – Agri Commerce Diploma in April and plans on continuing her studies for two more years at Olds College to obtain her Bachelor of Applied Science Degree in Agribusiness. Matt had a hard knock this summer – tearing his ACL, MCL and bruising his femur bone during box lacrosse playoffs. Matt still received his Athletic/Academic Scholarship for Field Lacrosse and is enjoying his first year of his Business Degree at Maryville University in St. Louis. He received surgery and is well into recovery/rehab – hoping to be back playing in the summer months. Kirsten will be graduating grade 12, turning 18 and looking forward to continuing her field lacrosse and educational pursuits after a gap year. Dawson is also graduating grade 12 this coming June and has enrolled in Olds College this coming fall to pursue Agriculture Management. So that leaves us becoming near empty nesters!!! 2020 will be another busy year, with lots of changes and milestones for our family. We are very proud of our kids and are enjoying watching and supporting them as they launch into the world and pursue their goals.
From our family to yours, we want to wish you all the joys and wonders of Christmas…may this festive season fill your home with precious moments with family and friends and may the new year be everything you wish for and more.
Rees & Kari – Opening Gates to the Country & Doors to the City.