Goodbye, 2018. We hardly knew ye.
Time is a crazy concept, isn’t it? It can fly or it can stand still. You can run out of it or have too much of it on your hands. You can reflect on it or look forward to it. I, for one, am very much looking forward to 2019. Granted, it has had an inauspicious beginning. Government shutdown. Crazy, nasty weather. The Bears shocking playoff loss to that team from Philly (kickers…amirite?). Still, I choose to look forward to what 2019 might still bring – both professionally and personally.
Professionally, I’m looking forward to the real estate market picking back up. The pace slowed quite a bit toward the end of the year – which is typical – but the dropoff seemed worse than usual this holiday season. That said, similarly to last year, the so-called Spring buying season has already started. I didn’t see the early start last year until February/March. This makes sense as the appraisal is always one of the last pieces of the purchase puzzle and typically lags contract execution by several weeks. Now that I recently obtained my broker’s license and am more of an active rather than passive participant in the market, I’ve noticed it in real time this year. Another interesting thing of note is that buyers are becoming increasingly more savvy and most want that finished, move-in ready product. These days, that generally means grey walls, dark floors, and white trim. Stainless steel appliances and stone countertops are still a priority, as well. And this is true whether buyers are looking for a $120,000 condo or a $500,000 semicustom home. Additionally, the lack of available inventory continues to be an issue and prices continue to push northward as buyers are involving themselves in multiple offer situations as there just isn’t enough to go around right now. Will this change in 2019? It’s difficult to say. The Fed recently held the overnight rate unchanged and removed the language pertaining to “gradual increases” in its comments, indicating patience and restraint in future increases. This bodes well for real estate. Hopefully, this sparks the local market and gets people moving again (literally).
On a personal note, our daughter will be going into her Junior year at IMSA in the Fall of 2019. While we’ve heard this is the most demanding year at the school, my wife and I can’t be more excited for what Sam will be doing at this amazing institution. I don’t envy the stress and pressure she’ll be under, but I absolutely envy the stuff she’ll be learning. I love what the future holds for that kid. When Ice Planet Hoth thaws this Spring…Summer…whenever…I can’t wait to get back to our happy place (shame on you – if you’ve read this blog, you would know I’m talking about Elkhart Lake, WI). It’s easy to think about warm weather, the beach, ice cream at Gessert’s, and insanely stocked Bloody Mary’s at the Osthoff when the wind chill is -50o. It just feels an eternity away. And I’m always ready for some Road America.
I’m excited for what 2019 can yet bring. And, hey, Bears training camp starts in a short 6 months. Maybe 2019 will be their year.
Thanks, and Make it a Great Day!
From Turkey, to Latkes, to Eggnog
Ah, the Holidays. Stress-inducing. Hectic. In-Laws. Overindulging. Overspending. Overindulging…did I say that one already?
It is easy to understand why this time of year can be difficult for people. I think I have come full circle on this as I have gotten older. The joyful exuberance and innocence of the holiday season I enjoyed as a child transitioning to the teen angst of can’t be bothered, evolving to the “do we really need to go through all this again this year?” in the beginnings of actual adulthood, to the “oh my, this is overwhelming!” once fully entrenched as a bona fide, busy, harried, cash-strapped adult. But now, I find myself enjoying the meaning of it all once again. Maybe it has something to do with my wife and I becoming emptynesters already. Or maybe it’s just become easier to not worry about things we can’t control and embrace and take comfort in those we can as we age. And traditions. Traditions are important. Whether longstanding traditions that are generational, or newer traditions that have developed once starting your own family. This time of year is always about traditions.
For us, it begins not long after Halloween. Planning for Thanksgiving – my favorite holiday. What was once a manic period of menu developing, shopping, inviting, more shopping, cleaning, cooking, yet more shopping, clean some more (by the time you actually sit down to eat, you’re utterly exhausted) has become a fine-tuned machine. My wife has a binder just for Thanksgiving. We have our menu set. We have our timeline set. We have our shopping set. I have my turkey on the grill/smoker set. Now we have the luxury of sitting and visiting with friends and loved ones and it’s far more relaxing and enjoyable. And Sam is home.
Prior to meeting my Jewish wife (Lori), I had very little exposure to the Jewish culture and customs. Now, I have the pleasure of participating in Hanukkah and other holidays. My wife and her family are far more observant of their Jewish religion than I ever was of my Catholicism. We decided early on that we would raise our children Jewish, but still respect and observe my holidays as well. There were some ground rules – particularly with the Christmas holiday. There were to be no red and green decorations. There was to be no Christmas tree. We called our decorations holiday neutral. Blue and white for the Hanukkah holiday, and white lights, stars, etc for the Christmas holiday. Sam felt a little slighted growing up because, although she would receive Christmas presents forms us and Santa Clause, she never had a tree in the house. As the years have passed, we have more and more embraced each other’s customs and traditions. I fry a mean latke and Lori loves the Partridge Family Christmas album that I grew up listening to with my mom and sisters. This year I started reciting the prayer in Hebrew while lighting the menorah and Sam finally got her little tree in her dorm room and we now have red and green holly boughs hanging in our living room. All the shopping is done, the food thought out, and the home awash in holiday spirit. This Hanukkah and Christmas will be a wonderful, relaxed time spent with friends and loved ones. And Sam is home.
We love our traditions – old and new. And those that are still evolving. Traditions bring us back to our innocence and since of wonder and connect us to our pasts. Traditions also set the foundation for generations that follow to carry forward and add their personal touches. This time of year is always about traditions. And traditions are important. Thank you and make it a great holiday.
Those who know me know that Thanksgiving is, by far, my favorite holiday. That said, the summer holidays hold a special place in my heart. Any excuse to throw on some sandals, fire up the grill (and/or smoker), and crack open a cold one and I’m a happy guy. And the patio is where the magic happens. My patio is my sanctuary. My Zen space. My happy place (well, that and Elkhart Lake, WI – but more on that in another post).
We used to have a rather large concrete patio. Over the years, the slab had begun to deteriorate and sink, making my happy place look not so happy. Three years ago, we had the old pad busted up and installed a 850+ SF paver patio with a built-in firepit. And I was happy again. But it wasn’t cheap. And the appraiser in my head was screaming at me “What in the world are you thinking?!? You’re never going to get that money back!”. But the wannabe Grillmaster and Lite beer connoisseur in me screamed back “Now that’s a patio!” Guess which voice I’m more in step with now.
People often ask me what improvements they can make to their homes that will have the highest return – most bang for your buck, if you will. The answer is almost always the same…kitchens and baths, kitchens and baths. Boring, I know. But it’s true. And it’s also not that simple. Every homeowner has different ideas and different plans for their current abode. And so much must be taken into consideration. How long are we going to live here? What do we NEED to have done versus what do we WANT to have done? How do we pay for it (that’s the big one, right?). What level of finish do we go with? The truth is you just need to temper your expectations with a healthy dose of reality. Dropping $100k on a complete kitchen remodel does not automatically increase the value of your home by $100k. If anything, you might be doing yourself a disservice. Are your neighbors doing $100k remodels of their kitchens? No? Then maybe you shouldn’t either. At least from a return of investment point of view. But if that doesn’t bother you and you want that dream kitchen no matter what, then go right ahead. As long as you keep your expectations realistic, you will be happy with the outcome. That’s how I came to love the new patio. I don’t care that we won’t get near the return of what we spent. And that’s ok. Because it’s my sanctuary. My Zen. My happy place (don’t be jealous, Elkhart Lake). And I’ll be spending much of my time on my patio this Memorial Day Weekend – grilling, smiling, imbibing. I wish you and yours a happy and safe Memorial Day Weekend.
Thank you and make it a great day. My Happy Place
“Life moves pretty fast. If you don't stop and look around once in a while, you could miss it.”
Ferris Bueller
Ferris was wise beyond his years. You never know when your life will fundamentally change, do you? One minute you are the parent of a high school freshman, the next you’re preparing to be an “empty nester” at the age of 45. Literally. Let me explain.
Our daughter, bless her, is very bright. She truly enjoys learning and her interests run the gamut from cooking, to swimming, to astrophysics. While still in 8th grade, she applied to a prestigious math and science academy where the students are mandatorily boarded. She had a very slim chance of actually getting accepted as she would basically be leap-frogging her freshman year as the school is only grades 10 through 12. Yet, despite the odds, she subjected herself to the entire process. Needless to say, my wife and I had mixed emotions while waiting for “the letter”. While waiting, we spoke about the pros and cons (mostly the pros) and how everything would change. Obviously, we would be sad about not having our only child around on a regular basis, but we would be foolish to deny our child this opportunity. We found the “small envelope” in our mail right around the time we were expecting it. We were relieved. We got at least a 12 month stay. And our good-natured daughter took it in stride. Well this year, 12 months later, the “large envelope” was found in the mailbox. After the initial wave of shock and tears – from a convergence of pride and sadness – we quickly accepted the fact we had suddenly become empty nesters. Probably for the rest of our lives.
That’s how fast life moves. Are you prepared for that? Honestly, not many of us are. Downsizing. Upsizing. Phasing. Transitioning. Whatever you call it, it is emotional as it defines an entire period of your life. Nearly all of us will experience one or more of these phases during our lifetime. Have a plan. Or form one quickly. Be ready. Trust me, it can happen way sooner than you think. Listen to Ferris.
Thank you and make it a great day.