Tuesday, January 15, 2013

Luxury Homes Spike the End of 2012, Cause? Wilmington NC is Trending the Same.

Wilmington Luxury Homes Sales jumped as it did Nationaly. Why?
Sales of luxury homes spiked in the final months of 2012 as high-end homeowners rushed to take advantage of lower tax rates before January 1.
Many sellers wanted to cash in on their homes before a widely expected capital gains hike -- to 20% from 15% -- that was part of the fiscal cliff budget deal. High-income earners (singles with income of $200,000 or more and couples making more than $250,000) also wanted to close sales ahead of a 3.8% Medicare surtax on investment income that was already slated to go into effect this year as part of the Affordable Care Act.

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