High Tax Flight Hidden By ‘For Sale’ Sign Ban

High taxes have many people moving to places where they can have more freedom and keep more of their hard earned money.

Recently, the New Canaan Board of Realtors in Connecticut just passed a ban on ‘For Sale’ signs placed in front of homes for sale.  CBS News New York reports that realtors in the wealthy, highly-taxed area want to ban the signs because they say most prospective home buyers are now searching online rather than driving around to find a new residence and claim the signs are unsightly.

However, one resident of New Canaan who was interviewed by CBS revealed the another reason why these signs will be disappearing soon.  Shawn Gardiner told CBS News the amount of “For Sale” signs gives buyers the impression that there must be something wrong with the area for so many people to be leaving. “The amount of them is giving buyers an idea that this entire town is for sale,” Gardiner said.

An article by Hot Air suggests that realtors may not want people to know how many people are fleeing high-tax areas like New Canaan.

In the days before the internet, people hopped in their cars and drove around neighborhoods they liked so they could get the feel for an area and see which homes were for sale.  With the new ban, people driving around neighborhoods will no longer be able to know which homes are for sale unless they go online.

Not all realtors think this is a good idea.

“The real estate ‘For Sale’ sign is good for everyone…the sellers, the buyers, the agents and the brokers.  Not everything is listed online on an MLS (multiple listing service), ” said John Murphy, a realtor in Minnesota with eXp Realty.  “I also am not convinced that every buyer is driving through neighborhoods with their mobile apps on all the time.  The fact is there are still buyers who will find a home for sale just from seeing the yard sign.  It surprises me that people would want them banned.”

Kelly Mathisen, a realtor with Coldwell Banker Burnet also in Minnesota said, “While it’s true that most buyers begin their search by researching online, installing an actual ‘For Sale’ sign is still an important part of the process.  Not having a sign is a disservice to the sellers.”  Mathisen said not having a sign in the yard means people are less likely to be aware the home is for sale. With a “For Sale” sign, Mathisen said people are likely to talk about the home which provides word-of-mouth advertising for the home. “It’s just one more way to reach prospective buyers,” she said.

New York and Connecticut are at the top of the list of highly taxed states in the country, with 12.7% and 12.6% of residents’ income swallowed up by taxes. Minnesota is not too far behind New York and Connecticut with an income tax rate of 10.8%.

Will this trend of banning “For Sale” signs spread beyond Connecticut?  Hot Air says this phenomenon will likely continue in places where state and local governments have made it increasingly impossible for hard working people to afford high taxes or tolerate onerous government policies.

The bigger the government, the smaller the citizen…unless there is some other place where government is much smaller.

 

 

 

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