Tag Archives: Mansion tax

On the ground in LA: How a divisive ‘mansion tax’ altered real estate

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The president of Nourmand & Associates briefed Intel on how a new L.A. tax on high-priced properties has jolted the local real estate industry. Continue reading →

LA City Council approves $150M in ‘mansion tax’ allocations

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Funds will go to short-term emergency rental assistance, eviction defense, tenant outreach and education, direct cash assistance for low-income seniors and individuals with disabilities, tenant protections and affordable housing development, according … Continue reading →

‘Fight it tooth and nail,’ LA agents warn as Chicago mulls mansion tax

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As Chicago Mayor Brandon Johnson narrows in on a 2.65 percent tax on purchases of properties over $1 million, luxury agents in Los Angeles offered their advice to concerned Windy City agents. Continue reading →

California’s loathed ‘Mansion Tax’ falls flat in first full month in effect

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Implemented in April on properties over $5 million, the ULA Tax was intended to bring in an average of $56 million in revenue per month to the city of L.A. During its first month, it brought in just $3.6 million. Continue reading →

Anthony Marguleas: LA ‘Mansion Tax’ is ‘devastating’ the market

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Inman recently caught up with Marguleas to discuss his company’s new venture in Dallas, the effects of the LA ‘Mansion Tax’ and what he’s looking forward to at this year’s ICLV event. Continue reading →

The LA ‘mansion tax’ is coming, sending sellers on a sprint to April 1

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To make their multimillion-dollar properties more attractive and move them more quickly, some sellers have been cutting their asking prices precipitously and negotiating other add-ons into contracts. Continue reading →

Real estate transfer tax hikes create headaches for mortgage lenders

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Federal regulations provide “zero tolerance” for miscalculating real estate transaction taxes when providing TILA-RESPA integrated disclosure to borrowers, Black Knight warns. Continue reading →

Deals will hinge on negotiations this fall. Here’s how buyers’ agents win

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“There was no negotiation over the last couple of years,” Max Stokes of Compass says. But that’s beginning to change — gradually. With a few tips, buyers can prevail at the negotiating table. Continue reading →

Why didn’t all the rain put a halt to homes sales this spring?

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The conventional wisdom is that the past month of nonstop rain should have put a damper on real estate sales, but, in fact, the opposite has happened. Continue reading →

New Yorkers are rushing to buy before July 1 ‘mansion tax’ kicks in

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New York’s “mansion tax,” which charges buyers extra for properties over $1 million, goes into effect July 1, and wealthy buyers are rushing to ink deals before the deadline. Continue reading →