Stop. Collaborate and Listen. . .
Yes, I just stole a Vanilla Ice quote and now you’re going to have that song stuck in your head the rest of the day. Moving on. . .
There’s not much that needs to be said about how controversially charged this year’s election has become. It practically has the country divided and almost anyone you talk to has very strong feelings about both or one of the candidates. That being said, lets address the elephant in the room, many investors are scared to buy real estate during an election year. They’re waiting to see who will win the election because it brings a sense of security and ease to them. Well, contrary to what many believe (and who could blame them) the country is not going up in smoke and the earth will not stop rotating no matter who wins the election.
But Should You Be Scared About Investing in an Orlando Vacation Home?
Investing during an election year may be one of the smartest financial moves you can make and here’s why:
Things are slower than usual which means prices are lower than usual and sellers are also more motivated than usual. According to this study, election years are BAD for home prices. In fact, according to the same study, home prices rose by as much as 6% before election years (2013,14 and 15, and then dropped to 4.5% during election years (2016). Then, in the year following an election, home sales would rebound by 5.3%.
So basically if you’re an investor trying to get the best deal you can get, you’re sitting on the best three months of the year to do it. Sellers are more motivated than usual, builders are more willing to negotiate than usual, people need to sell and you want to buy. This won’t last after the election! Buyers confidence comes back and so does the usual property rat race that comes along with it.
What This Means To Orlando Vacation Home Sellers
If you’re dead set on selling your Orlando vacation home in the next few months or even this year you may need to consider the competition that’s out there right now (or maybe consider waiting until after the election). Buyers currently have their pick of the litter until the market picks back up again next year. Historically this always happens in an election year. You’ll want to consider that you’re competing with Orlando builders right now who are offering vacation rental investors everything under the sun (closing costs paid for, free upgrades, HOA’s paid for, free trips to Mars to sip Kombucha with Richard Branson in 2034 etc) This is very enticing to investors especially when there is already uncertainty floating around. The good news is that there’s a lot of creative ideas Orlando vacation home sellers can implement during this time to get their home sold faster! One of my favorite strategies is the all inclusive marketing package, which is something no builder can offer an investor, but you can!!
I created this vacation rental marketing cheat sheet for vacation home sellers. It’s totally free and full of some of my best ideas you can implement immediately to try and get your Orlando vacation home sold faster.
What This Means To Orlando Vacation Home Investors
Saddle up for one of the best buying seasons of the least four years. Things are getting ugly fast with this election and while everyone is completely engulfed and hyper focused on who said what you’re going to be the one out there snagging all the deals while they still exist. This short window passes quickly so make sure you have all your ducks in a row and be ready to start wheeling and dealing. The beautiful thing about Orlando vacation rentals is that there an almost inflation proof investment. When things go south in the United States (as we’ve seen happen in the past) that just means that foreign tourists start coming here in droves because the exchange rate is more favorable for them. When things get economically sound here and people are making money, domestic tourism kicks in again. In a really great economy, like we’ve seen for the past few years, you get it from both angles so your Orlando investment property is always in demand in any market. If you’re still on the fence and haven’t downloaded our Investor’s guide To Vacation Rentals in Orlando yet, be sure to do that. It’s a great starting point.
When You Just Want To Build A Time Machine
In closing, I will say that at the end of the day the best time to invest in real estate was always 20 years ago. No matter when you invest, you know that in 10 or 20 years, you’re going to be so glad you jumped on it when you did. I know if you’re anything like me, you’ve had the time machine fantasies where you wish you could go back in time 20 years and kick yourself for not investing in [Insert investment here]. We’ve all experienced that type of regret. So be careful not to fall into the analytical rabbit hole of spending so much time trying to predict the future and hoping and waiting for prices to go down before you invest, because odds are, they probably won’t.
Here’s to the rest of 2016 and all of the interesting twists and political surprises in store for us. My glass of wine is always half full when watching the political circus unfold 😉
I hope to earn the opportunity of helping you achieve your investment property goals this year. To set up a free, no obligation investment property consultation with me please email me here, or contact me directly at 866-422-6191.