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The Baby Boomers are Coming! The Baby Boomers are Coming!

By Scott Gormley

Mortgage and Lending with Oak Valley Mortgage-California Home Loans and Refinancing

September 19, 2006 04:19 AM

I have noticed a strong trend lately. The Baby Boomers of California are now becoming "Empty Nesters." The kids are out of the house, they don't need all of that space and they are sitting on a property in the Bay area, Los Angeles, Orange County or San Diego and they are getting ready to retire soon. The only problem....Almost all of their net worth is tied up in their homes! So, downsizing will be taking place soon. Moving to areas such as Northern California and my hometown of Chico, where they can live in a great community, have twice the home for half the price (if they still want the space) and they will pull out their net worth out into cash to visit the beaches from time to time. Have any of you seen this trend in your neck of the woods?

Scott Gormley
Broker/Owner
Oak Valley Mortgage
2006 Chico Assoc. of Realtors Affiliate Chairman
Direct: 530.592.8362
Fax: 530.267.5555
Website: http://www.CALoan.com

"You find the perfect home, we'll find the perfect loan!"

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Ken Stampe

iBrandPlan.com - Grow your e-Profile & Brand - Dallas, TX

iBrandPlan

Yeah

They are all moving to Texas. We can finally say thank you to California for all that appreciation....oh, wait....they all pay cash!

Ken Stampe HomeLoanDFW.com

Sep 19, 2006 06:16 AM

Teri Isner

Keller Williams Realty at the Lakes - Orlando, FL

GRI, CRS, CIPS

Happening here too downsizing and paying cash.

Sep 19, 2006 07:12 AM

Sharon Simms

Coastal Properties Group International - Christie's International - Saint Petersburg, FL

St. Petersburg FL - CRS CIPS CLHMS RSPS

We have lots of Californians coming to Florida - even some from Seattle. My Californian son, however, is going to northern California.

Sep 19, 2006 09:14 AM

Jodi Goering

PMI GROUP - Walnut Creek, CA

I am the REALTOR for northern California purchases. Please keep me in mind if referring your clients to northern Californa (Solano County)

Thanks!

Sep 19, 2006 10:46 AM

Dave Rosenmarkle

Highland Realty, Inc - Fairfax, VA

33 years of providing fully satisfying service!

They taking their profits and leaving Northern VA. The Carolina's are fast becoming destination retirement areas.

Sep 19, 2006 01:15 PM

"The Lovely Wife" The One And Only TLW.

President-Tutas Towne Realty, Inc. - Kissimmee, FL

"Mr Scott"

Liked your post. BabyBoomers...that would be us...The Barbie and Ken of Active Rain. And the sweet couple on the beach...that will be us five years from now. Kids are gone...downsizing is next. You about something I am close to and understand. Thanks.

I am off to go help Ken pick the Avocado...We are going to hollow them out and fill them with Vodka...that will be fun!

by "The Lovely Wife"...Kum La Ka Lakka...ROAR.

Sep 19, 2006 01:50 PM

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Scott Gormley

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