Luxury home sales soared in final months of 2012
According to the National Association of Realtors (NAR), sales of homes valued at $1 million or more spiked 51% in November compared with a year earlier. 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.
People:
Philip White
Overall Sentiment: -0.0975799
Relevance: 0.780184
Meredyth Smith
Overall Sentiment: 0
Relevance: 0.636454
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| 0 | "Ever since last summer when people realized that the fiscal cliff was approaching, there was an incentive to get deals done," said Meredyth Smith, ... |
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Halstead Property
Overall Sentiment: 0.254528
Relevance: 0.595623
Jonathan Miller
Overall Sentiment: 0.169523
Relevance: 0.555035
John Parsegian
Overall Sentiment: 0.215137
Relevance: 0.496043
Brown Harris Stevens
Overall Sentiment: 0.100789
Relevance: 0.480198
Key:
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Additional Info:
FieldTerminology: International Real Estate
Overall Sentiment: 0
Relevance: 0.448249
City: Manhattan
Overall Sentiment: 0.140727
Relevance: 0.475221
City: New York
Overall Sentiment: 0
Relevance: 0.420964
Country: U.S.
Overall Sentiment: 0.180684
Relevance: 0.484634
Organization: National Association of Realtors
Overall Sentiment: 0.165988
Relevance: 0.776952
Organization: Medicare
Overall Sentiment: 0
Relevance: 0.486614
Company: Sotheby
Overall Sentiment: 0.138829
Relevance: 0.72636
Company: Miller Samuel
Overall Sentiment: 0.121479
Relevance: 0.440691
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