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Are California Homeowners really Downsizing, or...?

By
Real Estate Agent with HomeSmart Realty West & Florida Realty Investments CA01938972, FL BK3090225

For all the reasons below and many more, we have heard our sellers detail why they want to downsize.

 

Out of curiosity, are there any others that ‘pop’ into your mind?

Here in San Diego County, we have heard the following and not just for downsizing, but to leave the State entirely:

  1. Taxes are no longer reasonable
  2. Too many people resulting in too much road congestion and crime
  3. Desire to sell at the peak price
  4. Leaving the Country

 

And the list goes on!

 

Thinking of downsizing? 

 

Call us; we can help!!!

Posted by

Sandy Padula & Norm Padula, J.D., GRI
CA DRE#00902455 (Sandy)
Realtor®

HomeSmart Realty West

 

FL Bkr# 3090255 (Norm)
Broker-Associate

Florida Realty Investments

 

760.985.2055  Sandy
858.444.7060 & Norm

SDLuxHomes.com

PRESENCE ~ PERSISTENCE ~ PERSEVERANCE

 

 

 

Comments (10)
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sandy and Norm these are all good reasons.  However, for me there is one other major one.  I have a Cape style house, and the stairs are going to become an issue at sometime in the future.  At that point a smaller single level house or condo will be the goal.

Jan 22, 2020 08:54 AM
Sandy Padula & Norm Padula, JD, GRI

Right, George Souto and here the land value is so high, it is very common that homes are built UP and not OUT. Thanks for your comment!

Jan 22, 2020 08:59 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

You mean add on to bring children and grand children back. They can not afford anything that is on the market.

Jan 22, 2020 09:09 AM
Sandy Padula & Norm Padula, JD, GRI

All another reason many opt for ADU dwellings, not that parents want to encourage children who fail to launch or drop back out of orbit. Thanks, Sam Shueh !

Jan 22, 2020 09:18 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Norm(and Sandy too) - no statistical evidence but over the course of many years in real estate and on planet Earth, people seem to have many reasons to move. 

Downsizing/upsizing/right-sizing are among the many and then we can sort those into smaller groups.  In a course of a year(or even a neighborhood/area) we may find similarities but when it comes down to it:  People move because they can as well as move when they have a need.  

Jan 22, 2020 09:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

HI Norm and Sandy... all good reasons to downsize. But I'm also seeing empty nesters "upsize" to accommodate grandchildren who come to visit.

Jan 22, 2020 09:48 AM
Nina Hollander, Broker

Sandy Padula and Norm Padula, JD, GRI we're so old we have no more parents to worry about! But certainly lots of grands and probably some great grands soon!

Jan 22, 2020 10:26 AM
Sandy Padula & Norm Padula, JD, GRI

Nina Hollander We have experienced that up-sizing motivation on very few occasions, but usually it is for accomodating an elderly parent. Thanks!

Jan 22, 2020 09:51 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Norm and Sandy,

I agree with Nina Hollander I have seen upsized for multi-generational as well as grandchildren.  The other reason are the state taxes are the highest.  Here in SB County a lot of industry like (Carl's Jr)  has moved to Idaho.  A

Jan 22, 2020 10:08 AM
Sandy Padula & Norm Padula, JD, GRI

Alexandra: Then where will this end-up? The Sacramento bosses just can't seem to realize that the public is not a bottomless well

Jan 23, 2020 09:02 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

These are all great reasons for downsizing and our needs change throughout the course of our lives.

Jan 23, 2020 06:18 AM
Sandy Padula & Norm Padula, JD, GRI

Brian England That's exactly what I keep telling Sandy and her response is, "You can leave at any time!" Do you think she will find me out on my sailboat?

Jan 23, 2020 09:00 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

"too much to handle" is the #1 reason I've come across by downsizing folks. Plus, wanting to have more convenience, less maintenance, and the amenities of active adult communities. 

We are seeing an uptick in multi-gen homes and sales in our area, too! I think both options are good, it just depends on life's circumstances and the specific family situation. My kids firmly maintain that I'll be living with them when I'm old ... so I have my future mapped out  

Jan 23, 2020 10:30 AM
Sandy Padula & Norm Padula, JD, GRI

Andrea Bedard You have a very long wait to collect on that promise from your children! Thanks for your comment!

Jan 23, 2020 02:11 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Missed this great post thanks to Brian England  I am here, btw also miss the interactions we used to have... with that said to answer your question there are political reasons people leave CA:))Endre

Jan 23, 2020 10:28 PM
Sandy Padula & Norm Padula, JD, GRI

Endre Barath, Jr. Thank you for your comment. I did not mention politics as it seems to be a highly sensitive topic for so many and at my age, I can't afford to lose too many friends. I have been somewhat detached from AR for some time as the platform appears to have lost its luster for so many, and I have been very busy with my mortgage business. Still breathing though!

Jan 24, 2020 09:35 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Yes indeed Norm I agree with your comment and great that you are busy, Endre

Jan 24, 2020 10:25 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

LOL I see that Endre left the same comment here that I just left on Brian's post - OOPS! You missed one - whackadoodle politics in CA! Ha!

Seriously, all great reasons to downsize, Norm. Just pulling your chain! Love the infographic too.

Jan 25, 2020 08:25 AM
Sandy Padula & Norm Padula, JD, GRI

Debe Maxwell, CRS I hear you and agree completely. I am embarrassed that CA voters have been duped into voting the lefties into Congress and that's all I'm saying about it!

Jan 25, 2020 09:12 AM
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