Now May Be The Time To Sell Your Hoboken Home

By
Real Estate Agent with RE/MAX Gold Coast Realty

new taxRegardless of your political affiliations and your like or dislike for the Affordable Care Act (a.k.a. "Obamacare") there are items contained within its pages that may impact your real estate plans. In the bill is a tax that all homeowners need to be aware of, especially those in the Hoboken area where home values average above $440,000.

Beginning in 2013, homeowners who meet specific criteria will be responsible for paying a 3.8 percent tax on "unearned income" under the new health care law. This means if you sell your home beginning in 2013 you could be paying this 3.8 percent tax, but selling this year may save you a lot of money and it may not be too late if you take action now.

 

The way the tax is written into the bill a married couple making more than $250,000 in adjusted gross income who sell a primary home for more than $500,000 will be subject to this tax -- which in this case would be $19,000. A single person with an adjusted gross income of $200,000 who sells a home with a sale price exceeding $250,000 will also fit the criteria and would have to pay a $9,500 tax. These are rough examples of course, intended to give you a basic idea of the amount of money involved.

So if you fall into this income bracket, your home value exceeds the amount listed and you have been toying with the idea of selling your Hoboken home now may be the time to act. In many cases people who have been left alone through divorce or the death of a spouse or those who have found themselves in a state of deteriorating health have put off selling because of the work involved. Don't despair, there is help available, in addition to the advice and expertise that your real estate broker offers, there are professional organizers and home stagers who can make all the difference in how your home looks and remove a huge burden from your shoulders.

A professional organizer can come in to your home and de-clutter your space, maybe relieving you of years of collected junk that you might have packed up and moved to your new home. Even if your home is older and needs updating, a professional home stager can refresh and rearrange your home to give it a cost effective updated look that more closely meets the current demands of the market. It helps if a potential buyer can see the potential of your home to be better and to become their space. Professional packers are always available through moving services as well, so there is no excuse not to act. Don't miss the chance to move to a beautiful Hoboken brownstone, make the decision, put your home in the hands of the professionals and I will help you to move to your next great Hoboken home.

About Eddie:Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him direct at 201.344.2886.

 

Posted by

re/max, logoEddie Perezfacebook, logo
Broker - REALTOR
RE/MAX Gold Coast Realty
56 Newark St.    ·      Hoboken, NJ 07030
Phone (201) 344-2886   ·   Office (201) 795-5200 ext 423


E-Mail Me 


 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Home Selling
Location:
New Jersey Hudson County
Groups:
New Jersey Real Estate Experts
We Love North Jersey
Hudson Valley
Garden State Real Estate
All About NJ Real Estate
Tags:
new jersey real estate
selling a home
real estate
eddie perez
new jersey
hoboken new jersey
hoboken metro living
hoboken

Comments 2 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the cloud to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Ambassador
1,199,686
Praful Thakkar
Andover, MA: Andover Luxury Homes For Sale
Keller Williams Realty

Eddie, you reminded me of my NY/NJ days where I'd take the PATH train (is that correct?) from Hoboken...

And selling in 2013 becomes expensive....interesting law....

July 11, 2012 10:42 PM
Rainmaker
178,560
Edward Perez
NJ Luxury Group - Serving Hoboken & Northern NJ
RE/MAX Gold Coast Realty

You may want to make sure your clients learn about this tax in case they fit into this criteria. Thanks for the comment.

July 15, 2012 08:46 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
178,560

Edward Perez

NJ Luxury Group - Serving Hoboken & Northern NJ
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Market news,stats, new listings, price reductions and lots of other useful info about condos and other real estate in Hoboken, NJ.

If you enjoy what you are reading, remember to subscribe to my blog. It is my focus to provide relevant greater Hoboken real estate market information on real world level. No media hype. No fluff. Just a real voice based on an active Hoboken REALTOR (R).

Hoboken Condo Living