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Seniors Series 2022: Challenges and opportunities for senior homebuyers

Original post made on Aug 17, 2022

Shifting real estate markets in the Bay Area and in Pleasanton and recent state legislation are creating opportunities for seniors who want to buy or sell a home. 'It's a good opportunity to sell,' says Bay East president Sheila Cunha.

Read the full story here Web Link posted Tuesday, August 16, 2022, 7:21 PM

Comments (1)

Posted by NickV
a resident of Danville
on Aug 17, 2022 at 9:20 am

NickV is a registered user.

So what if Prop 19 allows you to take your property tax base anywhere in California. As a senior who lives in Danville and looks to retire somewhere more affordable, big deal. Right? I mean, like most seniors who may wish to downsize and move elsewhere where housing is cheaper, what advantage is there in Prop 19 to downsize? Prop 19 assumes that many seniors must have purchased a home many, many years ago never to move and thus take THAT tax base. Sure, there are many who did and Prop 19 may be good for THEM. What about THE REST OF US that had to move here and there within the state with an ever increasing tax base? Sorry, we're out of the Prop 19 benny. On top of that, Prop 19 now disallows a senior family member to inherit a family home from a parent and inherit the tax base, as has been the case for many years. Now, as a senior inheriting a home, I'll have to pay property tax on an inherited home on the value over 1,000,000, which makes finances for seniors even more burdensome entering retirement. Prop 19 did not make it more affordable for many, many seniors like myself who wish to remain in California. Just say'n....

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