We all heard the threats…
“If Donald Trump is elected President, I’m moving to Canada.” (Or whatever other country…)
Mostly it was celebrities saying that, although you probably heard some joking, offhand remarks from people you actually knew locally.
But you probably had to be a real estate agent to hear people say this…
“Will the value of my house be affected, because of everyone moving out of the country, if Donald Trump is elected?”
Well, he was elected. And as of now, no matter how much research you do, it’s hard to pinpoint how many people actually moved because he was elected. It seems like very few…if any. So, the chances of the value of your house being affected by a mass exodus are very low.
Now that we know Donald Trump was elected, the questions real estate agents hear have become a little more specific.
More along the lines of…
“Do you think the value of my house will go up, because Donald Trump was elected?”
“Do you think the value of my house will go down, because Donald Trump was elected?”
Here’s the thing…
You’ve probably heard something along these lines before. But, real estate agents don’t have a crystal ball they can gaze at, or a magic 8 ball they can shake, to get answers to those sorts of questions.
It’s almost impossible to predict future real estate values.
But yet you hear people speculating all the time. From economists, to politicians, to TV pundits, and on down to some real estate agents at cocktail parties.
The problem with people doing it is that they seem credible. And you may base your hopes or concerns upon what you are hearing. But most of what you hear is broad and general. It is prediction. Speculation. Entertainment to some degree…
For the most part it is stuff people say in order to make conversation, or to fill the need for content to put on a TV or computer screen.
But the person saying it has no responsibility to you. They don’t know your specific life scenario. And they don’t know your home or real estate market.
Real estate agents (at least good ones) can’t and don’t speculate. We base home values and our advice upon local data…what has recently sold…and the current buyer activity. Not what might happen.
So, at the end of the day…
There’s no way to absolutely answer whether or not Donald Trump becoming President will cause the value of your home to go up or down. And you’re better off ignoring speculation.
If you want to know the value of your home, or whether it makes sense for you to buy another home in the near future, just give your local real estate agent a call.
They will analyze the market as it is, and your specific life situation, in order for you to make a truly informed decision.