What The Fud
What the FUD
Another year has come and gone… 2018 is now behind us. When we are asked how 2018 was, most of us will respond with the typical status quo lines, such as, we had a few high points and a few lows points. However, not many of us will respond by saying there was nothing worth mentioning. As humans, we are wired to remember only the experiences that bring us pain or pleasure. The good news is that, given enough time, our brains will drown out the pain of the experience and give into the pleasure experience, wiping out the negative memories. The physiological phenomenon is called fading affect bias, or FAB.
Researchers found that there is a general fading in relation to specific life events, regardless of whether the experiences were positive or negative ones. Studies found that cognitive processes occur that cause the emotional intensity of negative events to dissipate at a faster rate than positively perceived events. This is good news! Over time, we will think that all of our experiences—even the negative ones—are good, or are they?
Painful events in the past year can be hard to shake, even with FAB at work. Painful experiences can take over and are often associated with our fears, uncertainties, and doubts in our lives. Fear, uncertainty, and doubt is also known in the business world as FUD. FUD is a well-known marketing strategy sometimes used by market leaders against smaller firms who may pose a threat to their position. The FUD strategy tries to create a negative perception about the newcomer and can take on many forms, such as exaggerating the weaknesses of the competitive company, “denying” that the newcomer offers better products or services by announcing the capability to create even better products or services, and even making up incorrect facts and figures. Did you allow FUD to be part of 2018? Did FUD create negative perceptions or exaggerate your weaknesses?
So why all the talk about fear? Fear really is a mind killer. Fear is the little thing in our brains that brings destruction to our positive thinking. What would life be like without fear? Currently, there is fear in the real estate market; fear about prices dropping, inventory growing, sales volume going down, mortgage rates going up, horrible NDP policies, and the Canadian economy showing signs of weakness.
We all struggle with fear, so why not do something about it? What are the things you can accomplish when you are free of fear? Over the last year, I have met many amazing people who do not live in fear. These people are legacy builders. Yes, financial legacy builders; however, I am also talking about others that are building legacy of character. These people think differently. They believe that everything happens to them for a reason; it is a teaching opportunity, an event, a moment in time that builds them to be better the next day, week, month, and year. These people of character are setting new standards for themselves daily, weekly, monthly, and yearly.
Recently, I was introduced to a music artist named Cid Inc, not for the music, but for the lyrics in one of his songs, “Fear and Square.” The lyrics are powerful and they speak of the men and women that are building legacy of character. In his song, Cid Inc sings, “I must not fear. Fear is the mind killer. Fear is the little death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past, I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.”
2018 is in the past and 2019 awaits us. Now is the time to park the FUD and lean on the FAB. It is time to be fearless and be legacy builders of character. When we live without fear, we are capable of accomplishing many things.
There is no doubt that we are in a new real estate market cycle. The new cycle in my opinion is a combination of slump/slowdown. A slump/slowdown basically will affect certain segments of the market more than others. The slump cycle is hitting the luxury market the hardest and more specifically the single-family luxury market. However, the average single-family home, non-luxury townhome and condo market is currently in the slowdown phase of the cycle. The spring market, interest rates, NDP Government policies, and the Federal election will give the cycle positive or negative energy moving forward through 2019.
Opportunities in 2019 will be from the positive international and inter-provincial immigration numbers. BC population grew by 70,000 people over last twelve months. Other opportunities will be found in commercial and industrial properties and as bonus, there is no foreign buyer tax on these properties. Another big opportunity will be assignment deals. Many pre-construction buyers are in a FUD mindset or are challenged to nail down financing for their closings. There will be some amazing deals to be had in this segment of the market. If any of thee opportunities strike a cord with you, reach out to us.
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Personal Real Estate Corporation
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