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Sign into your accountLuxury Home Price and Taxes
July 21 2014
Luxury home marketing is global. When you are trying to communicate to a group that represents less than 1% of the population of the United States or the earth, you are aiming at a very small target group. It is for this reason that there are numerous luxury home marketing vehicles that make sense for brokerages to affiliate with.
I am not exactly sure how it works out but somehow Christie's, Sotheby's, Luxury Real Estate, and Coldwell Banker Previews always find a way to send a magazine to my home. In truth, I really enjoy getting them. For the most part, I am familiar with the firms marketing homes through these channels, I often know the principals and sometimes I may know the agent. In some small way, it is like flipping through a high school yearbook.
This week, I returned from Inman Real Estate Connect in San Francisco to find the Howard Hanna Homes of Distinction. As a Californian, I am always amazed how much house you get for the money in the states they serve like Pennsylvania, upstate New York, Michigan, Virginia, Ohio, West Virginia, North Carolina, and Maryland. For example, you can live in a stunning home in Michigan with 11 acres, 1000 feet of Lake Michigan lakefront, 12,000 feet of living area for $4.3M. A similar property on Lake Erie is priced at $3.9M.
Here is the part I don't get. What are the taxes?