We all know that holidays are the best time of the year to spend some quality time with our friends and family, but it is also the best time to get some good real estate offers. The home buying trends Phoenix prove that you can make some great deals during the holiday’s season.
Lower-priced houses are in huge demand
Whereas higher-priced house sales have slowed down, but lower-priced houses have are still in huge demand. With millennial ready to enter this market & buy the starter home, the demand keeps its competition high. One more factor that has contributed to the shortage of the modest homes is older people want to live in their houses longer. So, it has resulted in decrease in the housing inventory, with several affordable houses falling by 8%.
The tax benefits will depend on your financial situation, or what your liability appears for the present year. However, closing on a property purchase, will give you some major tax benefits heading in following year. Suppose you list deductions, you would be eligible, with purchase of the home, deduct things like the points paid on closing, mortgage interest rates and property taxes. If you are purchase the home as the investment asset, or have the business entity, then there’re higher tax advantages accessible to you.
Housing to stay the buyers’ market
Phoenix realty sector is considered to be the buyer’s marketplace for the future. It means that developers may need to be keen to negotiate on the deals, based on the terms and conditions, which aren’t tilted into their favor. Besides increasing pressure on the builders to improve the sales numbers, they need to devise some new strategies to provide cost benefits to the buyers. This will be true for new launches, as risk involved in these projects will be higher than ready-to-move units.