June…a feast for the senses in our part of the beautiful Pacific Northwest Coast.
The month of roses, of lilacs, of snapdragons, of lavendar, of orchards blossoming to fruition…lush and fragrant and so inviting!
Salt Spring and the Gulf Islands are a part of this envelope of largesse. Breathe it in…enjoy those patios that offer cappuccinos & green tea lattes…kayak out to meander Ruckle Park…dream into the sunsets from Vesuvius Beach…be inspired by vistas…ocean and islands and mountains melding into silver and light. Beauty everywhere!
Lucky to be a visitor, lucky to be able to live here. Sometimes, though, it’s about timing.
Market-wise, we are nearing the half-way moment in this year’s rhythm.
To date, the sales action has continued in the entry level priced residential category.
The price ceiling for this property segment has been rising and inventory has been thinning…both good signs that a slow uptick is underway. This appears to be a general feature in all secondary home/discretionary areas.
Good news, after the past three to four “flat” years in our kind of discretionary area. No one “has to” buy a second home or a recreational property or a retirement investment…such marketplace regions can be put on hold, during troubled economic times. That describes the lack of action in the immediate (four year!) past.
Markets move in cycles. Are we in year 7 of a 7 to 10 year cycle in real estate and hard asset investing? If so, then we are in a natural upticking pattern.
By Spring of 2013, we should thus see increasing action in the undeveloped land & upper tier priced residential & in the commercial options. By Fall 2013, it should be a seller’s market once again.
Sound impossible? Motivation to preserve capital & to seek safe havens may be the propellers to this shift.
Those sellers who were able to wait out the downturn years will benefit from this shift into more buoyant times.
It is what it is, though, and, in a sense, we are all prisoners of our time.
Choice is the name of any secondary home marketplace…no one “has to” buy a recreational property, or a retirement option, or an investment purchase…it’s all at the behest of the buyer. We can be put “on hold” until things improve.
On the other hand, there now seems to be a move towards preservation of capital…a safe haven seeking. That is a strong propeller to action.
So, at an authentic shift moment, everything is on the table…up, down, seller moving towards a buyer and buyer moving towards a seller…it’s all there, and all at once! Inventory clean-out is a part of it, too.
At this beginning moment, at the start of June, much is yet to come forward. Our real market is July/August/September…almost upon us!
Meantime, enjoy the beauty of our area…a place to restore the soul!