Tax day and the week of April 15th has in my own experience always been one of the slowest days in real estate. Homebuyers are not to be found. Instead they are fretting having their taxes out in the mail and want to know how much they have to pay out. It is a time of high anxiety for sure especially if you are paying. In that sense, I am sure this year is no different from other years past. However in real estate ther emay be some differences.
Years ago...a few days after the taxes were filed the phones would normally start ringing again. Persons that had to pay taxes and were renting would normally come out and buy a home. Their CPA would have advised them that they had no write offs or deductions and were just throwing their money away on rent. Then again, Turbo Tax and online tax services won't do that! So in that sense it may be different this year. Persons may not want to rush out and buy if there is a possibility their investment may go down. Another item to note is that many persons are borrowing from their SEP IRAs, retirement funds, and IRA's. The problem with this is that there are very hefty tax penalties for doing that. let's see what activity occurs in the coming week. Today will be a day of reckoning for many!
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