Goodbye, 2018. We hardly knew ye.
Time is a crazy concept, isn’t it? It can fly or it can stand still. You can run out of it or have too much of it on your hands. You can reflect on it or look forward to it. I, for one, am very much looking forward to 2019. Granted, it has had an inauspicious beginning. Government shutdown. Crazy, nasty weather. The Bears shocking playoff loss to that team from Philly (kickers…amirite?). Still, I choose to look forward to what 2019 might still bring – both professionally and personally.
Professionally, I’m looking forward to the real estate market picking back up. The pace slowed quite a bit toward the end of the year – which is typical – but the dropoff seemed worse than usual this holiday season. That said, similarly to last year, the so-called Spring buying season has already started. I didn’t see the early start last year until February/March. This makes sense as the appraisal is always one of the last pieces of the purchase puzzle and typically lags contract execution by several weeks. Now that I recently obtained my broker’s license and am more of an active rather than passive participant in the market, I’ve noticed it in real time this year. Another interesting thing of note is that buyers are becoming increasingly more savvy and most want that finished, move-in ready product. These days, that generally means grey walls, dark floors, and white trim. Stainless steel appliances and stone countertops are still a priority, as well. And this is true whether buyers are looking for a $120,000 condo or a $500,000 semicustom home. Additionally, the lack of available inventory continues to be an issue and prices continue to push northward as buyers are involving themselves in multiple offer situations as there just isn’t enough to go around right now. Will this change in 2019? It’s difficult to say. The Fed recently held the overnight rate unchanged and removed the language pertaining to “gradual increases” in its comments, indicating patience and restraint in future increases. This bodes well for real estate. Hopefully, this sparks the local market and gets people moving again (literally).
On a personal note, our daughter will be going into her Junior year at IMSA in the Fall of 2019. While we’ve heard this is the most demanding year at the school, my wife and I can’t be more excited for what Sam will be doing at this amazing institution. I don’t envy the stress and pressure she’ll be under, but I absolutely envy the stuff she’ll be learning. I love what the future holds for that kid. When Ice Planet Hoth thaws this Spring…Summer…whenever…I can’t wait to get back to our happy place (shame on you – if you’ve read this blog, you would know I’m talking about Elkhart Lake, WI). It’s easy to think about warm weather, the beach, ice cream at Gessert’s, and insanely stocked Bloody Mary’s at the Osthoff when the wind chill is -50o. It just feels an eternity away. And I’m always ready for some Road America.
I’m excited for what 2019 can yet bring. And, hey, Bears training camp starts in a short 6 months. Maybe 2019 will be their year.
Thanks, and Make it a Great Day!