Posted by: Daryl & Wendy Ashby | January 31, 2010

An Ideal Balance

Watching cycles evolve and change, such as real estate sales in and around Greater Victoria, can be fascinating. This has been painfully obvious during the past year as we peaked and then slumped in the shadow of the world-wide recessionary environment.

It takes a dramatic change to shake one out of the pervasive malaise which the past 10 or so years of strength was lulling us into believing was the norm. The message here is; do not take anything “for granted” and some balance (stability) is what all markets seek; not just when it comes to real estate.

In order to find comfort in making decisions, the existence of a stable environment goes a long way to relieving our stress and enabling us to move toward our goals in life. Such goals are fixed by first time home ownership, rehousing  or relocating to accommodate growth and contraction of our family unit and the decisions regarding empty-nesting, retirement and so on.

This stability is not always evident and, as decisions cannot be deferred indefinitely, these must often be made in times of instability. Instability can be defined as marked swings in supply (inventory), as well as demand, interest rates, security of income (including employment) and threats to maintaining current wealth .

We have some, but clearly not complete, control over these factors. In the process of acquiring or divesting of real estate assets it is of great value to solicit the services of an experienced Realtor who has local knowledge and has seen the progression of a variety of economic cycles. Being armed with the market facts is an imperative part of the ability to make the necessary decisions in times of lesser stability.

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