There’s been a shift in our behavior, and I feel like it’s going to stick. Our world where most things were readily and routinely handled and we simply went on with our lives has been disrupted. The extremes we’ve felt over the past three years have given us pause and made us look within. We humans don’t come with innately well-honed coping skills — when thrown into a global pandemic and weaving through the aftermath, we experience pure emotional exhaustion, a lack of patience, and mistrust. If that weren’t bad enough, we’ve had to change our work habits, watch our cities change without us, wear masks, and keep to ourselves. We’ve also had to rise from the aftermath and poke our heads out from under the covers, hoping to regain the lives we remember and took for granted.
BUT WAIT — Don’t touch that dial! There’s more! Let’s also look at the financial meltdowns of FTX, SVB, and countless other unknowns, and let’s contemplate how we might take it all in stride and learn from even mistakes that were not really our mistakes to begin with.
Wait a minute: I didn’t own any Bitcoin or have millions of dollars in Silicon Valley Bank, so why do I feel wronged? Perhaps it’s my fear of what’s next? Over all these years, I have managed to stay above the fray. Why is it this time everything feels so out of control? Life is what you make it, and the lessons learned — if they don’t kill you — will make you stronger. When coping, one, two, or possibly all of the following have proven to be helpful: rest, exercise, self-control, family, loving one’s partner & pet(s), walks in the rain, fresh air, laughing (which boost the immune system), faith, giving thanks to all that is good … any or all of these may be worthwhile starting points.
And what about Real Estate? If I had a hundred dollars for every time a past or present client, neighbor, colleague, family member, grocery clerk, small business owner, or wonderful barista asked me, “What do you think the market is going to do?” I could have a lot of new things. Perhaps as Elmer J. Fudd, Millionaire, would say “I own a mansion, and a yacht.” Though, as an agent I’m familiar with mansions, the most accurate answer to this question is a real cliffhanger: “NO ONE KNOWS, and if anyone tells you he or she does, they’re wrong.” It’s not okay to say or give comforting advice because you want to assuage feelings or feel superior and equipped with some sort of crystal ball, confidently saying, “This is what shall happen.” The task at hand is, when lacking certainty, to take care of yourself and make decisions based on your comfort and well-being.
While a rather robust market was fun while it lasted, if you have found yourself feeling “overpaid” for a home or like you didn’t “sell at the top of the market,” turning your perspective can help. It is what it is, and no amount of Monday morning quarterbacking will change that. Real Estate know-it-alls are like potholes: every street’s got one. Use your most valuable instinct: Do what is right for you going forward; ask for advice, and after evaluation take it with a grain of salt.
Here’s a bit of entertainment! The extraordinary prescience of Paddy Chayefsky’s fifty-year-old script for the movie Network is amazing in light of today’s myriad social and global maladies. Oh-My-Goodness!
Let’s not let the craziness all around affect us, let’s keep our focus on what we can do for good.
Bainbridge Island and Poulsbo real estate over the past 30 days
40 Active residential listings High $6,500,000, Median $991,000 Low $395,000. Average days on market 12
8 Pending inspection listings High $1,795,000 Median $685,500 Low $320,000. Average days on market 17
30 Pending listings High $3,648,000 Median $909,975 Low $450,000. Average days on market 26
36 Sold residential listings High $4,350,000 Median $685,000 Low $320,000. Average days on market 17
7 Active vacant land listings High $1,250,000 Median $399,000 Low $245,000. Average days on market 18
1 Pending vacant land listing $850,000. Days on market 16
1 Sold vacant land listing $300,000. Days on market 4
7 Unlisted homes sold High $1,700,000, Median $740,000 Low $590,000. Days on market 0