Selling Your Home in 2013?

Just one more month to go before 2013 kicks off! 

With the expiration of the Bush tax cuts at the end of 2012 and a new 3.8% medicare tax on investment income (taking effect on January 1st 2013) you could be looking at an 8.8% tax increase should you decide to wait to sell your home.

In Silicon Valley, there are a lot of people that have decided to hold off on selling their homes right now because they feel that the market is on the upswing and that they will get greater returns in 2013. This has created a shortage in supply and resulted in multiple offers on remaining inventory.

It will be interesting to see how everything plays out. If you are on the fence about selling your home right now I would highly recommend that you put it on the market right away.. the market will not support home sellers trying to "test" the market come 2013 if supply picks up and we shift away from a seller's market.

WSJ: Looming Tax Hike