No single second of the year has as much impact on real estate as does the tick at midnight on Jan. 1.
In the United States, the tick that closes out April 15 has a major impact on many people, but not as much as the New Year’s tick. The tick from Christmas Eve to Christmas Day has blurred over the years as the celebration is often done on both days, or celebrated on one or the other to lessen the impact of the turnover of the day.
Birthday ticks, too, have less impact than does the New Year’s tick. The tick to start the day merely indicates the completion of a year, whereas the New Year’s tick closes out a year and begins another with major ramifications to most.
Birthdays are just a measure of your chronological achievements during your time on this sphere — not much changes on most even if it is a “marker” birthday, i.e. — your LP birthday (33), a decade achievement (30, 40, 50, etc.). A 21st birthday, 65th birthday and some others along the way that allow you to qualify for things you may yearn for are notable, but only for that one-off event.
The New Year tick means out with the old and in with the new. It can be new laws taking effect, starting over for record keeping, tax consequences, a symbolic closing out of a sequence of events, or a symbolism for hope.
The real estate industry in Northern Nevada had an exceptional year in 2021, but it presented a year of frustration to buyers and sellers. While interest rates were amazingly low, that extra buying power allowed many to purchase who previously couldn’t.
Unfortunately for potential first-time homebuyers, the market became flooded with refugees from other states that are socially structured differently than Northern Nevada, and they came in droves.Competition for homes became fierce resulting in legendary bidding experiences. That frustrating dynamic was then accentuated by extreme heat followed by historic smoke from horrific wildfires.Needless to say, 2021 was one to kick to the curbs for many buyers that participated in the market, whether they were successful in their objectives or not. Sellers generally came out fine, but they needed a place to go and often suffered the 2021 buyer experience themselves.
As you look forward to 2022, recognize that we still have COVID-19 impacting us in assorted ways; inflation is generating talk of higher interest rates; we’ve seen a magnificent start to winter precipitation; the state legislature isn’t scheduled to meet this year so real estate should be stable for the year; it’s an election year, so things may get interesting as politicians compete for your vote; and so on.
It’s another transition from year to year, but the one thing that stays constant is real estate. Values may go up and down, material prices may fluctuate, but you own it and can make it your home for comfort and stability. Don’t get distracted from your goal.
Northern Nevada is high desert, we live in the mountains. Things happen when you live in the mountains, i.e.— snow, rain, heat, smoke, etc. It is Mother Nature at her finest and a major part of what we love about living here.
We don’t know what 2022 will bring weather-wise, or market-wise, but it will be identified as the market of 2022 because of the New Year ticks that start and end it. What happens in between is up to you.
If you are looking to make a real estate move in 2022, identify your wants and needs, make a plan with your agent and work your plan. You will then remember 2022 as a positive real estate year for you and yours, for this is a good recipe for success, the details of which will be provided by you and your agent.
New Year’s is special — it follows the joyful celebration of Christmas with a definite moment in time, the New Year tick, when the future begins. It is a time for all to enjoy for one reason or another as the clock goes tick and the year starts with the following tock.
Jim Valentine, CDPE, SFR, is a Realtor with RE/MAX Realty Affiliates in Gardnerville. Go to carsonvalleyland.com to learn more. This Voices column first published Jan. 2 in the Nevada Appeal.