I am here to seek some advice. we have lived 2 of the last 5 years in our SF home in the Potrero Hill neighborhood and are wandering if this is a good time to sell it. The motivation to sell is to take advantage of the $500,000 tax benefit for married couples. The single family home that we purchased was for $725,000 and it is not worth $1,200,00(close to 500k increase) according to Zillow/Redfin.
Two questions -
- Is it a good time to sell right now? My realtor tells me the inventory is really low for SFH in SF.
- Can we still take advantage of the tax benefit while we have purchased another home which we live in right now?
Hope to hear back and thank you for reading.