Thursday, August 23, 2012

Capital Gains Tax on Property Sales May Double in 2013

FOR SALE: 107 S 19th St in San Jose $1,099,000. This home is an impressive 4,400 SF property built with multiple families in mind. It sits on a 17,000+ SF lot and has 9 bedrooms, 6 bathrooms, and 2 kitchens! Ideal for extended families, combination live/work arrangements, or numerous rental income opportunities included assisted living. Email me for more details or to arrange a private showing.
    

SECRET PROPERTY **Coming Soon:
Shad Ct in Foster City $1,100,000 – Fully remodeled 4 bedroom 2 bath 1,900 SF home set on an oversized private lot (6138 sq.ft)in quiet cul-de-sac. It is a light, bright home facing a big backyard with A/C, and just a few steps to Chad Park. Close to schools, shopping and transportation. Call me or email me to arrange a private showing before this property hits the MLS!
 

In Contract:
20833 Dunbar Dr in Cupertino $1,110,000

SOLD:
939 Jackson St #302 in San Francisco $905,000 – Won the bid in a multiple offer situation!
SOLD:
795 Tehama Dr in South Lake Tahoe $555,000 – Bank Owned Property

Must Read Regarding Capital Gains taxes on Real Estate:
If you have property that you are thinking about selling in 2013 this article may cause you to change your mind.  If Obama becomes elected your capital gains rate may increase beginning in January causing the taxes you pay on the sale of a property to nearly DOUBLE. (Click HERE to read this article)

IN THE TRENCHES: Nathan’s Recent Experiences


  • Written numerous offers on properties in San Jose below $750,000 and everything had multiple offers.
  • Counseled sellers in San Jose, Foster City, and Los Altos about market timing and preparation.
  • Negotiated several complicated purchases all the way through to closing.

Short sales are becoming a thing of the past. I’ll update you on the price on your home. Just call me directly.

If you are a seller in the next 24 months let me meet you, understand your goals and see the property.  I will make suggestions that pay for my commission.

My buyers WIN in multiple offer situations! Be a hero and forward this email to your friends who are struggling to get their offers accepted.

NATHAN’S TAKE: Normally this time of the year things should be slowing down, but we haven’t seen the dramatic slow-down yet. This could be an indication that inventory levels by the end of the year we may be at record lows. Interest rates will probably not change too much, until after the election, but I bet they will rise soon after. Tax rates could be changing which could have a large impact on supply and prices, but we will need to wait and see.

Market Recap
The chart below shows that cities east of highway 880 are still experiencing a very high demand for housing.

For Comparison: Sales in the cities west of highway 880 are slowing down slightly.
Market Snapshot
The table represents aggregated values based on MLS data for the specified date.

As always I welcome referrals from friends, co-workers or family members looking to buy a piece of property.  I am also happy to provide unbiased sound advice at any time. You can rely on my integrity and follow-through.

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

Applying Cutting Edge Systems and Strategies to Find the RIGHT Buyer or Seller in ANY Market.

Warm regards,
Nathan Nahouraii
Direct: (408) 404-6444
Direct: (415) 236-3826
Direct: (650) 352-5322
nathan@nathanproperties.com
www.nathanproperties.com