As per the industry experts including Orlando realtors, first three months after the New Year are major and the prime time to invest in real estate. Wondering why? Well, half of the reason is the emotions tied to the season. People are more inclined to make major decisions around New Year holidays. Similarly, sellers’ holiday spirit and a keen interest in striking a deal at the start of a new year often source the readiness to negotiate terms.
In addition, there are also several practical reasons to explore the real estate industry. Among them:
When Demand Increases, Inventory Reduces, and Prices Climb
Considering the Orlando real estate market, home sales finished on a high note in 2017. While the house values are significantly increased for a huge segment of homeowners, it is an opportune time for individuals aiming to trade up, relocate or downsize to make a move. Also, in the wake of improved perceptions about income growth and job security, buying is currently a preferred option. The rent is likely to increase dramatically and much faster in comparison to median income.
More Time to Explore
Holidays are the best time to go through the listing. It is the best time to look for a potential and dream property as you are relaxed and in the right frame of mind. Just like Winter Garden realtors take out time during holidays to complete their homework, many clients also understand the importance of using their holiday season for investments. As per the Orlando realtors, January to March is the time when they have more showings than any other time of the year.
More Open Houses
Many businesses make major changes at the start of New Year, which is why the real estate industry spikes during New Year holidays. The sellers stay motivated to make a move and keen to negotiate.
Similarly, employees who are being relocated get a short window to invest. Not to mention, this is a traveling season and since sellers are usually traveling during this time of year, they tend to welcome more prospective buyers.
Plenty of Tax Incentives
Purchasing a home after New Year comes with plenty of tax benefits. Capital gains taxes are usually deferred or excluded. Depreciation of an investment or business property can defer several income taxes as well as interest amount on a mortgage on a secondary or even primary home. Also, home equity loans are deducted.
To get more information about the IRS tax tips you can always consult with a CPA. They will help you understand the full scope of tax incentives that you can achieve from real estate.
In addition to these factors and as Orlando realtor’s suggest, economic strength significantly boosts consumer confidence to make real estate investment. As per the experts of Orlando real estate market, the mortgage rates are expected to exceed 4 percent in the year 2018. It means that if you wait to invest, you will be paying more interest.
If you need more information about real estate investment then head over to Megan Dowdy Realty right away.
