Normally I find something quippy to say that ties in Spring with the real estate market, or make a light hearted joke about predictions of a crash that never happen to open our Spring newsletter. Not this time. This time I’m going to open with some basic math. If I start a calendar year with $100 in the bank and finish the year with $150 in the bank, is that a) a positive result, b) a neutral result or c) a loss? Most would agree that this is a positive result. My account has had a net gain of $50. If at one point in the year the balance went from the initial $100 up briefly to $180, but then settled back down to the $150 mark, would you still agree that my account finished the year with a net gain of $50? Likely….and you would be absolutely correct. You would look at the full year to determine the annual result. Now, if you wanted to be sensationalist or provocative, you might pick the portion of the year that my account had the largest gain ($180), compare it to the end of the year ($150), and try to tell me that I ended the year with a net loss of $30. You would be wrong, but would pass the entry exam to become a Real Estate Reporter in any National newspaper or media outlet. We ended 2017 ahead of where we started in terms of home values. Period.
The first quarter of 2018 is done and in the books and, no surprise, prices are continuing to go up across all types of homes with one exception: homes that are overpriced, whether due to bad advice, or lack of understanding of market forces in an area. Your home is worth more than it was, and it will continue to grow in value. Some years will be big, and some will be small. But every year is a good year to buy, and a good year to sell. Thus endeth the math lesson…and I did get to be a little light-hearted after all.
In this edition of Smartmoves, we’ll look at the new rules for Landlords, and how they impact you as landlord and tenant. We’ll also walk you through the new Provincial Green Energy Rebate program, and see where you can save money on some major upgrades to your home. Happy Spring!!!!!
