About Jim Valentine’s Real Estate
This is the time of year when we all take a collective breath at midnight on December 31st and realize that a second later, on January 1st, we are ushering in a new year. This type of celebration is called “New Year” in capital letters. It is about sharing widely the enthusiasm, optimism, joy and midnight kisses and hugs to recognize the new year and all the expected happiness it expects to bring to us and our loved ones. is celebrated all over the world.
For some, letting go of the past brings relief and gives them hope for the future. Whether it’s relationship issues, tax implications, business success, or family accomplishments, the new year offers an opportunity to psychologically reset. At midnight, everything changes and the world becomes “okay.” That thought has great power to reveal what you are focusing on. If you focus on positive change, you can expect that. So let’s celebrate the new year.
Some people think it’s time to start over with the good things, to repeat or expand on the good things experienced in the past year. It’s a time to set new goals, plan new experiences, and strengthen family, friend, and business relationships. While celebrating the great year they have, these people look forward to equal or even greater life experiences in the years to come.
The new year starts over on a calendar year basis. Taxes from the purchase or sale of real estate are applied in the elapsed or new year, depending on when the transfer takes place. Please plan accordingly. For example, if you retire next year and your income decreases, it makes sense to move your taxable sales to next year. On the other hand, if you expect to make a lot of money next year, close your business this year if possible. If you don’t plan carefully, income tax implications can be one of the biggest impacts of the new year.
The real estate itself does not change with the new year, but the benefits of ownership do. Depending on the year, laws go into effect on January 1st and can have a positive or negative impact on your property and the use of that property. Other legal and political changes may change the economy and affect real estate. Job losses or gains, interest rate fluctuations or stability, etc. can drive real estate decisions. It is not necessarily the new year itself that causes it, but rather the person who has adopted a new year’s attitude of seeking change.
This year has been a strange one for the real estate industry in some ways. Interest rates rose sharply and then accelerated through the middle of the year. Desire and demand were good, but rising interest rates and moratoriums caused disruption. Making buy and sell decisions in the third and fourth quarters of this year was like solving a 3D puzzle. As the end of the year approached, interest rates began to fall, and the media began to show positive swagger for the first time in a while. We’ll see how that goes in 2024. Prices are all over the place, and there is no exact pattern you can use to determine prices. A willing buyer and a willing seller decide the day.
Have a safe New Year! Some celebrate for the sake of celebration. These people may have to be physically or psychologically avoided. We’re in a period of transition, so take some time to reflect on your life, your real estate wants and needs, and how things are working for you. Is it time for a change or is it okay to stay as is? Either of them is ok. Contact your agent in January for a real estate “health check” on your property.
The New Year is a special follow-up to the Christmas celebration with a clear moment when the future begins.
When choosing a professional for your real estate needs…experience is priceless! Jim Valentine, RE/MAX Gold Carson Valley, 775-781-3704. dpwtigers@hotmail.com.