If that’s you, let’s talk about your options!
Did you know that 10,000 baby boomers are reaching age 65 every day! This year marks a major demographic and retirement milestone for America. Four million are leaving the workforce every year. Boomers - those born between 1946 and 1964 are the wealthiest generation on the planet. Wealth gives you options. With 80% of this generation owning a home, they may hold the keys to our current lack of inventory issue. They own $19 trillion dollars worth of real estate in the United States.
Understandably, many are planning to ‘age in place’. Let’s be honest - 65 isn’t what it used to be. People are living much longer and some are still working. For others who are opting to move into more suitable and many times more enjoyable retirement-style surroundings, it’s providing fun, entertainment, golf, and the benefit from someone else doing the cooking. I’m not predicting the ‘Silver Tsunami’ that some economists are, but I do think that it’s important to weigh your options, and if not you - you probably know someone who is of retirement age considering what the future holds.
One positive is California’s Proposition 19. This allows those over 55 to take their current property tax base to their new home. You can take advantage of this up to three times and if you purchase a home that costs more than your existing home, you simply pay the difference. Finally, a tax bill that has a huge benefit. Just google CA Prop 19 for details.
Another option is saying goodbye to California … here are the most popular cities if you’re considering that – Las Vegas, Phoenix, Tampa, Orlando and Austin.
Remember, if you’re considering that option, as your Realtor, I can help you find a fabulous Realtor anywhere in the world. Just give me a call.
Whether you’re planning to buy or sell a home this year or not, we appreciate YOU. For 31 years, our business has been built on people like you who think of us when the topic of real estate comes up. We love what we do and won’t be retiring anytime soon. Quite the opposite… we’re looking forward to another great year of helping buyers and sellers achieve their goals in 2024.
So if you or someone you know is trying to navigate the current real estate market, give me a call. I’m happy to update you on the market conditions, interest rates, potential opportunities to jump into the market and, of course, can always provide you with reliable resources you may need.
I’m here to help you and all of your referrals
And be sure to check out ‘Coffee with Carol’ 
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