Yuba City Area Luxury Homes for Sale – January 2011

This weeks post features the luxury home market in the Yuba City area.  Why post about the luxury market?  Well, these homes have become very affordable.  Homes that would of sold for over a million dollars are now down to three quarters to half a million dollars.  Many of these homes come with acreage, pool houses, producing ag ground, and large expansive homes.  

Click here to download PDF of luxury homes in Yuba City. 

 To preview this property or any on the list contact Coldwell Banker Heritage House at info@yubasuttercahomes.com or call 530.674.0504.

Visit www.YubaSutterCAHomes.com

New Real Estate Transfer Tax – Coming Soon as a part of ObamaCare.

There is indeed a tax on the sale of real estate.  It doesn’t apply to many people, but it WILL apply to some people that have profit from the sale of their homes. Starting in 2013, those with incomes over $200,000 will have to pay a 3.8% tax on profit from the sale of their primary residence or investment properties.  The exact amount will be based on a formula that includes the profit from the property and the income above $200,000.  The tax is not an income tax, but rather it is a “payroll tax”… officially it is a Medicare Tax.

My question is does Obama really care?  I have a feeling this ObamaCare package has a lot of more of these hidden taxes in its 20,000 pages. 

Hasn’t the housing market been hit hard enough, but now we have to contend with a tax on the sale of property.   This is like putting the nail in the coffin of the housing market.  This is going to affect not just the wealthy, but the people the wealthy hire to fix up their investment property to flip or rent.