Measure ULA tax forces homeowners to think twice about selling

There was no shortage of news from the SoCal residential market this week as agents jumped ships, celebrity homes hit the market and brokers grappled with impacts of Measure ULA.  Three years since its implementation and Measure ULA — the 4 to 5.5 percent transfer tax on all property sales in the City of Los Angeles above $5.4 million — is still top of mind for luxury homeowners, brokers and contractors alike.  Oren Levy — founder of Gesh Group, a luxury homebuilder that also remodels existing single-family assets, said homeowners’ hesitancy to sell to avoid paying the tax has completely […]

This article originally appeared on The Real Deal. Click here to read the full story.