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If you’re considering retiring in the next decade you’re
not alone. There are over 9.8 million Baby Boomers in
California. The ages of Baby Boomers range from 39 on the
low end to 57 on the high end, which means we are just
beginning to see the first wave of Baby Boomer retirement.
If you’re considering retiring and moving to Northern
California in the next few years, you’d be wise to begin
making plans now because you’re not alone.
In Redding we’ve already begun to meet clients from the
Bay Area and Southern California who are several years
away from retirement, but already securing homes and
investment properties in the area. I recently completed a
transaction involving a Bay Area couple who purchased a
brand new custom home and immediately rented it out
because they felt they wouldn’t be able to afford it when
they retire in six years. They’ve already seen
significant appreciation on their purchase. I recently
closed another escrow with a Baby Boomer who works three
days a week in the Bay Area and felt that he would be
better off buying now than waiting four more years until
he can retire completely.
If you’re in a similar situation, feel free to contact me
to discuss your options. I specialize in finding creative
solutions to help you get a foothold in Northern
California real estate now, even if you have 1-7 years
until you can sell your home in the Bay Area or Southern
California.
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A few of the most basic options I suggest to my clients are:
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Buy an investment property now (rental house, duplex,
fourplex) and at least benefit from the appreciation if
the area continues to rise in value as it has over the
last few years.
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Buy a piece of land. A lot in a subdivision is a great
hedge bet against appreciation. So far in our market the
cost of land has far outpaced any increases in labor or
material cost. If this trend continues, you could build
on your lot in the future at a cost far below the future
market value of the home.
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If you’re within 8-12 months of retirement, you can put
a down payment on a new home under construction in a
subdivision. I’ve had clients who have made considerable
appreciation before they’ve even closed their escrows. In
one instance last year we sold a home for $207,000. By
the time the house was finished 7 months later, we were
selling the same house for $239,900. This is a 27.2%
increase, calculated as annual appreciation.
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Again, these are the most basic solutions for future
retirees. If you’re retiring in the next 1-7 years, feel
free to contact me to discuss additional options which
might work for your situation.
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My Commitment to You… And Your Commitment to Me
I strive to give my clients the best service possible. As
I mentioned earlier, in this market, it’s sometimes
survival of the fastest. When a hot property hits the
market, the first good offer on the table is often the
offer that gets accepted. This means that I have to watch
the market constantly for new properties and notify my
clients as soon as I see something that matches their
needs. Since many out of the area clients can only look
at properties on the weekends, I do make myself available
seven days a week to show property. What I do expect in
return is a solid commitment from my clients that I will
be their agent of choice and the only agent they work with
in Shasta County. With committed clients, I can devote
all of my energies to finding them the best properties.
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Even if Redding is not your desired retirement destination we would love to talk to you.
We have a network of realtors across the nation that we would be glad to refer you to.
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Contact me for more information.
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