Who knew?

By
Real Estate Broker/Owner with Sea to Sky Premier Properties (Salt Spring)

Who knew that the ten week closures in my province would unleash a storm of real estate activity?   Who knew that happy techies and millenials and retirees, thinking that a city lifestyle, walking distance to every lovely little thing to enjoy, might turn out to be a negative?  Who knew that the online world would be so quick to be put in place?  

Well, all sudden shifts only seem that way when sudden change hits.   Often, the changes were subtly there, earlier.  

The rise of the rural area as a lifestyle choice seems to be a solid one.   When they sell, those city mice are off to find their forever home in a country mouse setting.   The trouble?   Lack of inventory, and we all know what that means...rising prices.  

With the ability for everyone to consider a work-from-home lifestyle, with zoom and its alternatives that allow for meetings, distance-learning education choices, and long-distance family contacts, we are seeing a quieter time evolve.  Is this what life used to be like before the tech revolution? 

In my rural/recreational area, all businesses may not survive.   Some will be able to pivot into the online world, and others not.  Is that just the way of all change, whether fast or slow?   Probably. 

I always think real estate agents are the canaries in the mine of change.  We see shifts before many others even get a glimmer.   The purchase of a home is a shift-ometer.   Are single family homes in suburbs or rural areas the latest flavour of the month?   Maybe.   And what about all the money that has been pumped into the systems in all countries.   Are some people looking to land bank, just to preserve capital?   Lots of questions, and as we segue into Fall, we may start to see some answers.  

Meantime, back to the crystal ball of real estate sales...a director of outcomes?   Maybe.

 

 

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Ambassador
4,338,208
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Li-what a wonderful post. When we returned to Houston, we chose to actually move just outside of it, in Cypress. We have all of the benefits that Houston has to offer and none of the traffic. 

Aug 27, 2020 06:11 PM #4
Rainmaker
1,629,352
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

You're right that real estate professionals can see changes before most know things are changing. There are many people moving to my area from busier areas. Interesting!

Aug 28, 2020 05:31 AM #5
Rainmaker
1,080,353
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Well, I know Barry Habib, Dr. Lawrence Yun Chief Economist of NAR knew this would happen and so did Brian Buffini of Buffini & Company knew as they were both predicting in back in March & April 2020...so I knew too 

Aug 28, 2020 06:33 AM #6
Rainmaker
5,012,283
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Li,

Love your analogy to the canaries given the world's health crisis.  Wishing you a wonderful week.  A

 

Aug 28, 2020 06:42 AM #7
Rainmaker
1,351,744
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

So appreciate, always, hearing from you all!

Aug 28, 2020 11:15 AM #8
Rainmaker
3,046,380
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It seems so unlikely that real estate would be booming right now, but it certainly is in my area as well.

Aug 29, 2020 07:31 AM #9
Ambassador
4,338,208
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Aug 29, 2020 06:40 PM #10
Rainmaker
3,716,702
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Li. Chicago is seeing many flee and the future may see a stampede. Enjoy your day!

Aug 30, 2020 05:33 AM #11
Rainmaker
2,255,496
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Li Read - this certainly is the trend.  And why pay high prices to live in the city when you can have a better quality of life.

Aug 30, 2020 06:28 AM #12
Rainmaker
3,997,779
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Li Read ,

Loved your post and so glad that Kathy Streib featured it in her "Ah-ha" moments for the week. We are seeing this trend because you should live where you love. Working from home means you don't have to commute. They just need to improve on the Internet in outlying areas but that will happen too as the demand increases.

Aug 30, 2020 09:37 AM #13
Rainmaker
1,428,280
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Li Read

Coming from the city and suburban life, I was always concerned about being disconnected from shopping.  Sedona and small-town living are my way of life now and I would never go back. It is fun to visit the city but I won't live there. 

Aug 30, 2020 11:53 AM #14
Ambassador
3,048,487
Anna Banana Kruchten CRS, CRS, Broker, Instructor
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Li oh yes we're seeing many people fleeing some states in particular and looking for a more laid back lifestyle in my area. Have several folks in town this week and I'm looking forward to helping them find their new home and lifestyle.

Aug 30, 2020 12:26 PM #15
Ambassador
4,301,197
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Li:

Love this post and it says so much about what's going on these days.

I loved living in an urban setting when we were in Boston, but prefer things as they are now...in the burbs but close to all I want. I can always vsit the city (LA, San Diego) when I want, and we do.

Jeff

Aug 30, 2020 05:26 PM #16
Rainmaker
251,483
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

yes, canaries can sense approaching doom.  rural is now being highly sought.  make hay while the sun shines!  Thx

Aug 31, 2020 10:10 AM #17
Rainmaker
1,022,895
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Food for thought for sure.  Good points here.  The housing industry can pivot and change and well take note.  Reminds me of the fall of 2004.  I bought a condo conversion to flip, closing in September.  I saw others taking longer to sell so I dropped my price and got out of there. Others were too proud of their prices and saw the market start to change for condos.  Homes followed and we all know the rest of that story!  

Aug 31, 2020 07:21 PM #18
Rainmaker
589,242
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

So interesting to see the changes in the market due to the pandemic!  I have heard of so many sellers taking off for the wide open spaces...could it be a phase? I don't think cities will die.

Sep 02, 2020 08:18 AM #19
Rainmaker
1,351,744
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

So so appreciated all of your thoughtful comments...thank you!!

Sep 10, 2020 01:46 PM #20
Rainmaker
2,823,217
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

If there has been a positive side to this pandemic, it has been the ability to carve out a little more time to contemplate the direction our lives are taking.  Folks are looking around in the spaces they now dwell, and asking themselves questions!

Sep 25, 2020 01:33 PM #21
Rainmaker
2,231,441
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Li Read - You are truly an original and an excellent writer! Your language and how you explain things in your profession for your local areas are exceptional!  I loved the analogy to "the canaries in the mine of change."

 

Oct 13, 2020 03:23 PM #22
Rainmaker
135,146
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 702-574-8102

Li, Nice analogy, the purchase of a home or a season of purchases certainly can and does set trends.  Real estate is one shift after another - a "shiftometer."  Clever.

Oct 18, 2020 09:02 PM #23
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Li Read

Caring expertise...knowledge for you!
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