what real estate decisions will you make in 2013?

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Which Real Estate Decisions Will You Make in 2013? by PJ Wade In the last weeks of what has been both an action-packed and a wait-and-see year, attention will shift from 2012 goings-on to projections for 2013 - as if anyone knows for sure. January will see the annual forward-looking media broadcasts and pundit prognosis, and a wide range of business and online reflections on prospects for 2013. What opportunities does 2013 present you? Think back to the end of 2011 and your forecasts for 2012. You may have made 2012 resolutions based on what you learned. How did 2012 turn out for you? Market research company Ipsos Global announced today that while "optimism is high among participants in a new 23-country poll" carried out for Reuters news, there was common relief in leaving "bad year" 2012 behind. Eighty percent of global respondents are "optimistic that 2013 will be a better year than it was in 2012." The poll revealed that global citizens are acting on that optimism to take fate into their own hands. Eight in ten surveyed plan to have personal New Year's Resolutions for 2013, and 55% of respondents selected improve my financial situation as the item they most want to work on in 2013. Only a small proportion would rather spend more time with friends and family (16%), improve my health (14%), or travel to other countries (12%). What will you focus on in 2013? In this column, we concentrate on your real estate and all that revolves around it by focussing on Decisions & Communities, and therefore, on you. Where do you go from here with respect to your real estate goals? What have you learned in 2012 that you can act on next year. What will you deliberately avoid? For instance, the low-interest-rate environment carries opportunities and pitfalls. Have you used these opportunities to further your goals? Have you avoided pitfalls like non-tax-deductable credit card debt which is not at low interest rates? Your answers to these questions reflect what you understand about your financial knowledge, decision-making skill, and goal-setting accuracy. Your ability to self-motivate toward goal achievement is a key element in reaching desired outcomes. Do you react more quickly to avoid loss than you do to gain advantage? Last-minute tax filing is an example of acting to avoid loss. Advanced tax planning to reduce overall tax costs makes sense, but many find it is not the great motivator that income tax late-filing penalties are. If your search for a new home or cottage uses criteria set by "what's on trend", you are following the herd rather than leading yourself. For instance, open concept living space is "in," but it is not without its compromises. If you're not aware what you give up to get "open concept" you have not explored all the options open to you. Wanting housing similar to your friends and peers may be a sign of compatibility, but make sure you understand where those you follow originally got the ideas that define their lives. Their reasons for acting may not match your real estate goals. RealtyTimes.com articles and videos provide a full array of options and pitfalls for the issues and decisions related to buying and selling all types of real estate. Thanks for following my column Decisions & Communities, and for your enthusiastic sharing of ideas and suggestions. 2013 Forward Thinking Inspiration Join in New Year's Celebrations that explore 2013 potential. Just remember, these are all guesses no matter how factual they sound: Canada Mortgage and Housing Corporation (CMHC) Housing Outlook Conferences The series of regional Outlook Conferences cover topics ranging from market and house price trends to lending and mortgage insurance. CMHC experts deliver details on their latest research. Conference fees vary. CMHC's Affordable Housing Web Forums For example, on December 19, the CMHC Forum on Building / Site Selection and Design provided opportunity to tune in, at no charge, and hear speakers discuss how location, dimensions, and condition of a site, as well as the design of a building and units, impacts construction and operation costs for a project. Livability, marketability, and project viability were also considered. Resource: CMHC Affordable Housing Solutions E-newsletter [ Affordable Housing Solutions E-newsletter ] Stay up-to-date with what's happening in the field of Affordable Housing with a monthly e-notice that highlights information on tools, web forums, financial assistance, and success stories. Political and Economic Forecast Events Business and government groups across the country will mark the New Year with special events intended to provide up-to-date insight on local issues and local implications of national and global events. For instance, The The Canadian Club of Toronto hosts the 36th Annual Outlook 2013 luncheon on January 8, 2013, in partnership with the National Post. Panel members, including the National Post's Conrad Black, Andrew Coyne, and Diane Francis, promise a lively overview of what's to come and why. Non-members are welcome. What's happening in your area? Start 2013 by making new connections in your community. Onward & Upward in 2013—those are the directions that really matter!