because people are asking why they would ever want to leave and sell their
home. People love this area and wouldn’t
want to uproot from this area, especially with the low property taxes and low interest
rates. Many people have homes that are
paid off or with reverse mortgages. Most
elderly people are settled in protected with their “Proposition 13” property
With that said, there is always some movement in the
market. Usually, a sale is precipitated
by a life change; such as divorce, marriage, death, health issues, moving
closer to family, downsizing, upsizing, etc. These are the reasons people often sell. There are always the people liquidating income properties knowing that
the market is very strong, sometimes after an upsetting incident with a tenant.
The main reason that people sell their home these days isn’t necessarily to cash in on equity, although there are still cases of people wanting to lighten the load of a heavy mortgage. Of course the question then is where can I move that is cheaper? Often times these people find comfort moving closer to family out of state. Keeping your money in real estate is usually the best place, but sometimes life changes require relocation. The one factor driving people from this area is traffic and congestion. Many people who have the luxury of working from home are opting to move elsewhere. The best short answer to who is selling is “people experiencing life changes” and those fed up with the traffic.