How to Downsize to Retirement Home using Prop 19?
Hello,
According to the Cromford Report, "The for-sale active listing count (excluding UCB and CCBS) across all areas & types has jumped 27% in just 4 weeks. This is EVEN FASTER than we experienced in April 2005.
That's a scary percentage, even though the absolute numbers remain small. If this growth rate persists through May and June, the market will be very different by July."
What's happening in the market? Lots of changes the last couple of weeks. Because of the number of families we serve, we are able to have intimate knowledge and can "feel" when things are starting to shift.
About a month ago, I had a conversation with one of our clients about if they should rent their home again or sell based on their specific circumstances. It was clear to me that they did not want the home as a long term rental as it would be difficult to rent in a different market. The answer was to sell.
Fast forward to today, and the advice we want you to be aware of is this: "If you picture yourself in your current home or rental in 5 years, then stay. If you picture yourself in a larger home or downsizing, then the answer is to move quickly! We are seeing record numbers of houses added to the market AND interest rates increasing for the foreseeable future."
I have included some info about how to use the new Prop 19 to help you downsize ( square footage ) and do it on a budget. The video will cover a current homeowner that has a large home ( two-story ) and is looking to relocate into something smaller retirement home ( one-story ).
According to the Cromford Report, "The for-sale active listing count (excluding UCB and CCBS) across all areas & types has jumped 27% in just 4 weeks. This is EVEN FASTER than we experienced in April 2005.
That's a scary percentage, even though the absolute numbers remain small. If this growth rate persists through May and June, the market will be very different by July."
What's happening in the market? Lots of changes the last couple of weeks. Because of the number of families we serve, we are able to have intimate knowledge and can "feel" when things are starting to shift.
About a month ago, I had a conversation with one of our clients about if they should rent their home again or sell based on their specific circumstances. It was clear to me that they did not want the home as a long term rental as it would be difficult to rent in a different market. The answer was to sell.
Fast forward to today, and the advice we want you to be aware of is this: "If you picture yourself in your current home or rental in 5 years, then stay. If you picture yourself in a larger home or downsizing, then the answer is to move quickly! We are seeing record numbers of houses added to the market AND interest rates increasing for the foreseeable future."
I have included some info about how to use the new Prop 19 to help you downsize ( square footage ) and do it on a budget. The video will cover a current homeowner that has a large home ( two-story ) and is looking to relocate into something smaller retirement home ( one-story ).