Gullicksen Calls GOP Tax Plan 'Dark Cloud Looming on the Real Estate Horizon'

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Gullicksen thinks the plan, if passed, will cause more potential home buyers to reconsider the Bay Area.

Each year, about 20 percent of the buyers who work with Tim Gullicksen of the Gullicksen Group end up pulling out of the market. Gullicksen said that's just par for the course; a normal part of the real estate business. However, he sees the recent tax reform bill passed by both houses of Congress recently having a big effect on that number.

“In the last few weeks, as it has become more apparent that the Republican tax plan may just pass in the House and Senate, many of my buyers are pressing the pause button until the tax plan's ramifications are clear,” he said. “Approximately 40 percent of my buyers have stepped out of the market in the last month alone.”

Gullicksen believes that reducing the mortgage interest deduction and tax deductibility of property taxes and/or state and local taxes would seriously reduce the affordability of the Bay Area’s already expensive housing market.

“This destructive tax plan, if passed, will certainly cause even more of my buyers to reconsider buying a home in San Francisco,” he said.

About the Company:
Tim Gullicksen has been a top-producing real estate agent since he first entered into the business and takes great pride in managing every aspect of each transaction. After graduating from high school in the South Bay, Tim earned a bachelor’s degree in political science and history from the University of California-Berkeley. He went on to earn his teaching credentials from JFK University in Orinda and taught kindergarten in the San Jose Unified School District. He brings an educational approach to real estate developed from that background and sees himself as a facilitator of property transactions. For more information, visit his website at http://www.gullicksengroup.com/.

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