Oz Buzz 102: 2024 YEAR-END THOUGHTS

December 23, 2024

Remember: You are reading Ozzie’s opinion, not advice! And, yes, I have lots of them! But use only your personal professional lawyer/realtor/accountant/ to make your personal investment and life decisions.

Latest videos and podcasts  Talk, Talk, Talk.

Ozzie chats on Video about Florida, Hawaii, Dubai, Thailand, Edmonton  and Surrey. As well Self Storage, Luxury suites, Legalities of backing out of a deal, 6xplex cheat-sheets (FREE) ARM/VRMs and rates. Prices in 2025. As well as massive developer troubles.

Look for latest videos (Dec 21) on US Tariffs, Canada Election and forecast of 2025: youtube.com/Jurockvideo

(Each video is also available AS A PODCAST on
Spotify, Apple, Amazon, Pocketcast and many others!)
See ozbuzz.ca/category/podcasts/

AGENDA

• 2024 YEAR-END RUMINATIONS
• THE NOVEMBER (YES) ASTOUNDING NUMBERS
• SALES UP IN NOV/DEC BUT DOWN FROM 2020 BY 52%!
• YEAR END CRITICAL MESSAGE
• SHARE BRIEF SURVEY HIGHLIGHTS OF WHAT YOU THINK! THANK YOU
• FUTURE OF OZBUZZ?

2024 YEAR-END THOUGHTS

Well, folks, here we are again – the last week of 2024 ahead! It feels like just yesterday we were wrapping up another eyebrow-raising, headline-grabbing year, and yet here we are with one foot out the door. The real estate markets? Oh, they didn’t disappoint in the drama department: low inventory, high rates, and buyers who may or may not still be breathing into paper bags. Volumes stalled, prices danced a precarious jig, and yet, here we still stand.

But let’s zoom out. 2024 wasn’t just about real estate – it was about navigating a world that seemed determined to outpace even the fastest thinkers among us. Take your pick of challenges: the ongoing Bitcoin rollercoaster (it’s back up… no, down… wait, sideways?), the oil crash shaking economies to their core, and governments around the world pulling off some spectacular collapses. And through it all, inflation remains that stubborn guest who just won’t leave the party – even as commodities throw their own crash parade. Yes, folks, it’s a weird time to be alive. But isn’t it also exciting? If history has taught us anything, it’s that turbulence breeds innovation and opportunity.

As is tradition, we’ve sent the elves home, shuttered the workshop, and cracked open our annual toast – a ‘Beautiful’ (half Cognac, half Grand Marnier). If you don’t know why it’s called Beautiful, try three and look in the mirror. You’ll get it.

Now, as the glow of the holiday lights warms our souls (or is it the Beautiful?), let’s reflect.

If 2024 gave you a tough time, shake it off. The calendar flips whether we’re ready or not, so why not embrace it? If it was a good year, don’t let comfort turn you into a couch cushion. As they say, success is the best sedative – just don’t sleep through what’s next.

The Big Question: What Will 2025 Bring?

Here’s the thing: The world’s challenges aren’t just “out there.” They’re knocking at our doors, in our inboxes, and sometimes whispering through our smart speakers. Whether it’s the wild west of cryptocurrency, commodities or hard assets defying inflation narratives, or the geopolitical tightrope we’re all walking, one thing is clear: The old rules no longer apply.

But let’s not panic (or at least not while holding that third Beautiful). Instead, ask yourself: What’s my plan?

We’ve spent 30 years quoting Mike Vance’s wisdom at our events, and here’s why it still resonates: “Innovation is the creation of the new or the rearranging of the old in a new way.” It’s not about starting from scratch but making a minor pivot that can pay big dividends.

Innovation isn’t always about groundbreaking inventions. Sometimes, it’s just about turning a straight shower rod into a curved one – small tweaks, big results. So, for 2025, consider:

• What’s one thing you can learn that scares you?
• What old habits can you rearrange into something new and exciting?
• How can you position yourself not just to survive but thrive in a world that seems to reinvent itself every Tuesday?

And while you’re planning, let’s not forget the simple truths that never go out of style:

Do the things you know you ought to. Say “I love you” more often – to your spouse, your kids, heck, to everyone who matters. Be more grateful for what is and what can be, instead of dwelling on what wasn’t or didn’t work. It’s these small but meaningful actions that make all the difference when the world feels a little shaky.

Remember you are the center of your universe. Centers must be strong. Don’t share your doubts. Share your faith in all that surround you.

Oh and take a ‘cleaning of the mind’ dose of Eckhart Tolle eckharttolle.com or the German Hans Wilhelm lifeexplained.com and refresh the old noodle.

A Final Toast to You

Whatever 2025 holds, know this: You have a role to play in shaping your own story. Whether it’s AI, climate, Bitcoin, or your next big project, the future waits for no one. So, make your plan – or someone else will happily hand you theirs and assign you a role.

From all of us at Jurock’s Real Estate Insider and OzBuzz, we wish you a year filled with wonder, growth, courage, health and maybe just a little bit of mischief (the good kind). Here’s to a significant, challenging, exciting, and yes, beautiful, 2025.

Cheers,
The Jurock Team

NUMBERS, NUMBERS

Vancouver and Fraser Valley Real Estate Market Analysis

1. Rolling Total Sales: November 2020–2021 vs. November 2023–2024
Analyzing 12-month rolling totals reveals a significant decline in sales over the past four years:

Vancouver: Single-Family (SF) Homes

This represents a 48% decrease in SF home sales.

Fraser Valley: Single-Family (SF) Homes

This indicates a 55% decline in SF home sales.

2. November 2024 Compared to All-Time Highs

When comparing November 2024 figures to previous peak months, both sales and prices remain below historical highs:

Vancouver

Fraser Valley

3. Five-Year November Comparison: 2020–2024
Vancouver: Single-Family (SF) Homes

Vancouver: Condos

Fraser Valley: Single-Family (SF) Homes

Fraser Valley: Condos

Key Observations

• Sales Trends: While November 2024 sales have improved compared to 2023 and 2022, they remain significantly below the peaks observed in 2020 and 2021.
• Price Stability: Average prices have shown modest increases or remained stable year-over-year, yet they are still trailing behind the all-time highs recorded in early 2022.
• Inventory Levels: Active listings have increased compared to previous years but are down  from high in 2022/2023

MAJOR, MAJOR POINT:
Anecdotally December is MUCH better in sales but some abnormalities:
Anecdotal evidence suggests that December is experiencing a notable increase in sales activity. Real estate agents and mortgage brokers report that well-priced homes, combined with buyers possessing strong credit ratings, are leading to successful transactions.

• Sellers: Many homeowners, particularly in Ontario, are withdrawing their listings, opting to wait for a potentially more favorable market in the spring.
• Buyers: Some purchasers are postponing their decisions, anticipating better mortgage rates next year.

Advice for Buyers:

• Consider Making Lower Offers: In the current market, submitting lower bids may be advantageous.
• Explore Pre-Sale Opportunities: Properties scheduled to close in 2–5 years could offer the benefit of securing lower rates. However, it’s crucial to thoroughly assess the financial stability of the developer before proceeding.

For more detailed strategies, refer to the moneymaking ‘To-Do List’ in OzBuzz 101. Additionally, you can watch videos discussing developer-related concerns on the Jurock Video YouTube channel.

Summary of OzBuzz Survey 2024 Insights.

I must admit a bit of a disappointment about the relative low response rate. 40% less than the survey of 2 years ago. Lots of people who care, some waving fingers.

I will take the holidays to re-assess all that I do and why and share the outcome.

December 2024 Survey – summarized by ChatGPT

General Content Feedback

• Newsletter Length: 89.9% found it a “good amount,” with only 7.5% finding it “too long.”
• Questions & Answers Section: Enjoyed by 92.4%, with minimal dislike (0.7%).
• Economic Comments: 99.4% enjoy Ozzie’s economic commentary.
• International Comments: 91.9% enjoy these; 6.5% do not read them.

2. Paid Weekly Version

• Only 11.5% are interested in a paid weekly version. Among these:
  • 66.6% would pay $97/year.
  • 28.8% would pay $197/year.

3. Podcasts and Video Content

• OzBuzz Podcasts:
  • 41.8% listen, while 58.2% do not.
  • 34.2% listen to interviews with guests; 65.8% do not.
  • Platforms include YouTube (most popular), Spotify, and Apple Podcasts.
• Preference for Solo Ozzie Podcasts: 57.2% prefer solo episodes without guests.
• YouTube Usage:
  • 45.9% watch Ozzie on YouTube, but only 31.6% subscribe.
  • 28.1% use the “like” button, and just 11.8% use the “bell subscribe” button. Which announce latest videos to you
• Newsletter vs. Video Format:
  • 62.8% prefer the text version over a video format.

4. Engagement and Platform Awareness

• Podcast and YouTube Time:
  • Most spend less than 20% of their online time on podcasts (67.9%) or YouTube (67.4%).
• Platform Awareness:
  • 65.5% are unaware of BCRED.ca.
  • 56.2% are interested in RealEstateTalks.com.
  • 55% are unaware of AskanExpert.ca.

5. Past Features and Sections

• Strong interest in bringing back fun features:
  • Quotes/Jokes: 80.1% want them back.
  • Book of the Month: 63.4% support.
  • “Stupid Things People Say”: 69.4% want this.
  • Songs/TV of the Month: Only 42.3% are interested.

6. Community Feedback

• Guest Suggestions: Respondents want interviews with:
  • Real estate investors (everyday success stories).
  • Industry professionals (e.g., developers, economists).
  • Figures from BC and Alberta markets.
• Additional Topics:
  • Global markets (e.g., Europe, US retirement options).
  • Local market insights (e.g., Calgary, Kootenays).
  • Tips for landlords, tax strategies, and real estate trends.

7. Audience Demographics

• 75.2% of respondents are from British Columbia.
• 57.6% listen to Ozzie’s slot on MikeMoneyTalks podcast.

8. Suggestions for Improvement Lots and lots -will summarise in future issue.
9. Additional Takeaways

• High loyalty: Many respondents have followed Ozzie for over 20 years.
• Email remains the preferred communication channel.

Strong appreciation for Ozzie’s humor, unique perspective, and insights.

(You’ll get Oz Buzz 2 weeks before it’s posted online)