Tax Reform Real Estate Bill will effect In this 2018
The new tax reform real estate and is it going to have an effect on the real estate market in home values so that’s what we’re going to talk about in this article.
As most of you know I don’t like doing articles like this I’m not really a person that wants to give out an opinion on something I’m more of a fact-based person so if I see facts if I see statistics that’s usually what I want to talk about tax reform real estate but I just I keep on getting this question asked over and over and over again you know what’s going on with the new tax reform real estate I don’t know anything about it is it going to have an effect of my house is it going to have an effect on the value what do I need to know you know and so I’m getting this so I want to just address it I’m not going to get into really the tax reform real estate because I’m sure you can read other articles on that if you want to know the specifics of the tax reform real estate but is a real estate agent as a home owner as an investor.
The main thing that was concerning me is are they going to still allow the interest rate deductions you know because that would be catastrophic if they were not going to allow that for so many people out there because the real estate market is such a huge and important market of the United States but yes they did allow it now what they did it used a half at a million dollars and they actually brought it down to $750,000 so if you’re in areas like New York New York or if you’re in Los Angeles or San Francisco or areas of Hawaii or some of these areas that are very expensive even DC then you’re gonna get affected.
By this because it used to be the million dollars now it’s at 750,000 but for the vast majority of all people it’s not really going to have an effect on it the the other thing when it comes to real estate if you look at real estate for over the last 50 something years it comes down to the consumer confidence that’s the number one driving point when the consumer confidence is real high we’re going to be in a seller’s market prices are going to be going up and that’s what you’ve been seen over the last several years.
it’s slowly been picking up and up and up and of course home prices are going up and now we’re at a 17-year high on consumer confidence back I remember back in 2007 2008 2009 in Florida it was horrible consumer
Tax Reform Real Estate
confidence out here was just horrible you start getting into the mm late 2008 2009 and across the whole United States it was pretty much horrible and prices were going down and we had these foreclosures so I really pay attention to what is the consumer confidence like and when the consumer confidence starts spiking up I know we’re going to be in the seller’s market and when consumer confidence starts spiking down I know we’re gonna start leveling out and it may turn into a bit of a buyers market personally I don’t like seller’s markets.
I don’t like buyers markets as you know I’d like stable markets so anyhow I don’t think it’s going to have really any effect on the vast majority of anybody out there we’re still in a good market now I’m speaking for the Tampa Bay area because I pull the statistics in Tampa but there’s no indication whatsoever that our market is slowing down so far we’re in the beginning part of January and it’s extremely busy I’m even out talking to other Realtors and builders they’re saying the same thing they’re swamped right now they can’t believe how busy it is in such an early part of January so I don’t think most of you have to worry have anything to worry
I wish you the best of luck on buying or selling or buying investment property have a great day you and keep an eye in tax reform real estate.
Real Estate Agent How to choose and what questions you need to ask.
