Case Study 007 | Downsizing Empty Nesters

[av_layout_row border=” min_height_percent=” min_height=’0′ color=’main_color’ mobile=’av-flex-cells’ id=” av_element_hidden_in_editor=’0′ mobile_breaking=” av_uid=’av-17hi0n2′ custom_class=”]
[av_cell_one_half vertical_align=’top’ padding=’30px’ padding_sync=’true’ background=’bg_color’ background_color=’#f5f6fa’ background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_attachment=’scroll’ background_position=’top left’ background_repeat=’no-repeat’ link=” linktarget=” link_hover=” mobile_display=” av_uid=’av-16c28xq’ custom_class=”]

[av_heading heading=’Profile.’ tag=’h2′ link_apply=” link=’manually,http://’ link_target=” style=’blockquote modern-quote’ size=’82’ subheading_active=” subheading_size=’15’ margin=” padding=’20’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-bx6ql6′][/av_heading]

[av_one_full first min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ padding=’0px,0px,0px,40px’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=” src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-12brmri’]

[av_iconlist position=’left’ iconlist_styling=” animation=” custom_title_size=” custom_content_size=’15’ font_color=’custom’ custom_title=” custom_content=’#34495e’ color=’custom’ custom_bg=’#ff7979′ custom_font=’#ecf0f1′ custom_border=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-11ijgoe’ custom_class=” admin_preview_bg=”]
[av_iconlist_item title=’Clients’ link=” linktarget=” linkelement=” icon=’ue80b’ font=’entypo-fontello’ av_uid=’av-af4skq’]
The Mckinleys
[/av_iconlist_item]
[av_iconlist_item title=’Location’ link=” linktarget=” linkelement=” icon=’ue821′ font=’entypo-fontello’ av_uid=’av-8ndwu2′]
Little Italy
[/av_iconlist_item]
[av_iconlist_item title=’Necessities’ link=” linktarget=” linkelement=” icon=’ue812′ font=’entypo-fontello’ av_uid=’av-7qnhzu’]
Sell large empty nest

Find urban condo that matches lifestyle
[/av_iconlist_item]
[av_iconlist_item title=’Days in Escrow’ link=” linktarget=” linkelement=” icon=’ue85b’ font=’entypo-fontello’ av_uid=’av-5q6m8q’]
35 Days
[/av_iconlist_item]
[av_iconlist_item title=’Obstacles’ link=” linktarget=” linkelement=” icon=’ue826′ font=’entypo-fontello’ av_uid=’av-3w4cyi’]
Selling family home contingent on finding replacement property in a tight market. Additionally, the purchase of the replacement property had to be at or below the cost of the primary residence sold to be able to qualify for Proposition 60 benefit of transferring current property tax assessment.
[/av_iconlist_item]
[/av_iconlist]

[/av_one_full][/av_cell_one_half][av_cell_one_half vertical_align=’top’ padding=’30px’ padding_sync=’true’ background=’bg_color’ background_color=’#f5f6fa’ background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_attachment=’scroll’ background_position=’top left’ background_repeat=’no-repeat’ link=” linktarget=” link_hover=” mobile_display=” av_uid=’av-royrni’ custom_class=”]

[av_image src=’https://res.cloudinary.com/luxuryp/image/upload/v1661848628/n5i8h5rxtoy5jezetwzz.jpg’ attachment=’9672′ attachment_size=’full’ align=’left’ styling=” hover=” link=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ copyright=” animation=’no-animation’ av_uid=’av-2m9roe’ custom_class=” admin_preview_bg=”][/av_image]

[/av_cell_one_half]
[/av_layout_row]

[av_layout_row border=” min_height_percent=” min_height=’0′ color=’main_color’ mobile=’av-flex-cells’ id=” av_element_hidden_in_editor=’0′ mobile_breaking=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av_uid=’av-98d7p2′]

[av_cell_one_full vertical_align=’top’ padding=’30px’ padding_sync=’true’ background=’bg_color’ background_color=’#f7f5f2′ background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_attachment=’scroll’ background_position=’top left’ background_repeat=’no-repeat’ link=” linktarget=” link_hover=” mobile_display=” av_uid=’av-7xitti’ custom_class=”]

[av_one_fifth first min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ row_boxshadow_color=” row_boxshadow_width=’10’ link=” linktarget=” link_hover=” padding=’0px’ padding_sync=’true’ highlight_size=’1.1′ border=” border_color=” radius=’0px’ radius_sync=’true’ column_boxshadow_color=” column_boxshadow_width=’10’ background=’bg_color’ background_color=” background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=” av_uid=’av-gpx0mm’ custom_class=”]

[av_hr class=’invisible’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=’#b02b2c’ icon=’ue837′ font=’entypo-fontello’ av_uid=’av-5gb8ja’ custom_class=” admin_preview_bg=”]

[/av_one_fifth][av_three_fifth min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ row_boxshadow_color=” row_boxshadow_width=’10’ link=” linktarget=” link_hover=” padding=’0px’ padding_sync=’true’ highlight_size=’1.1′ border=” border_color=” radius=’0px’ radius_sync=’true’ column_boxshadow_color=” column_boxshadow_width=’10’ background=’bg_color’ background_color=” background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=” av_uid=’av-gpx0mm’ custom_class=”]

[av_heading heading=’Their Story.’ tag=’h2′ link_apply=” link=’manually,http://’ link_target=” style=’blockquote modern-quote’ size=’82’ subheading_active=” subheading_size=’15’ margin=” padding=’20’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=’48’ av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading]

[av_textblock size=’18’ font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-g1p3qm’ custom_class=” admin_preview_bg=”]

One of the major objections and concerns many empty nesters have about selling their large home and downsizing is the impact on property taxes. In California, property taxes are reassessed at purchase (per prop 13) and property taxes increase according to the newly assessed value which typically fall in line with market values. Many individuals shy away from selling because of the potential increase in annual cost in taxes – letting their equity sit.

What many don’t know is that in California, we have Propositions 60 and 90 which allow persons 55 years of age or older to be able to sell their current primary residence, purchase a new primary residence ( of equal or lesser value) and take their current tax assessment with them – allowing them to keep the same tax base and save money!

Prop 60 allows individuals to transfer their tax assessment within their same county and Prop 90 allows for inter county transfers of tax assessment (note: not all California counties participate and the approval of transfer by participating counties is at the county’s discretion) . These propositions are a great benefit for seniors to take advantage of to make the downsizing move and enhance their lifestyles.

The McKinleys took advantage of proposition 60. They sold their huge suburban home in the high $500k’s subject to purchasing a replacement property. They bought a luxury downtown condo in the mid $550ks and qualified  for the benefit of Prop 60, and instead of their annual property taxes hovering in the $7,500 range – we were able to keep their current tax assessment and save an excess of $4,000 annually! That’s a huge savings!

This type of move is not for everyone, but I highly recommend using the benefits of props 60 or 90 for seniors who find themselves in a huge empty nest that has become a burden to maintain.

[/av_textblock]

[av_hr class=’invisible’ height=’5′ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jrb0rr87′ custom_class=” admin_preview_bg=”]

[av_icon_box position=’left’ icon_style=” boxed=” icon=’ue836′ font=’entypo-fontello’ title=’Miguel Contreras’ link=” linktarget=” linkelement=” font_color=” custom_title=” custom_content=” color=’custom’ custom_bg=” custom_font=’#ff7979′ custom_border=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jrbcxcle’ custom_class=” admin_preview_bg=”][/av_icon_box]

[/av_three_fifth][av_one_fifth min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ row_boxshadow_color=” row_boxshadow_width=’10’ link=” linktarget=” link_hover=” padding=’0px’ padding_sync=’true’ highlight_size=’1.1′ border=” border_color=” radius=’0px’ radius_sync=’true’ column_boxshadow_color=” column_boxshadow_width=’10’ background=’bg_color’ background_color=” background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=” av_uid=’av-gpx0mm’ custom_class=”]

[av_hr class=’invisible’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-324bae’ custom_class=” admin_preview_bg=”]

[/av_one_fifth][av_gallery ids=’9660,9661,9663,9662′ style=’thumbnails’ preview_size=’portfolio’ crop_big_preview_thumbnail=’avia-gallery-big-crop-thumb’ thumb_size=’portfolio’ columns=’4′ imagelink=’lightbox’ lazyload=’avia_lazyload’ av_uid=’av-crc4oe’ custom_class=” admin_preview_bg=”]

[/av_cell_one_full][/av_layout_row][av_layout_row border=” min_height_percent=” min_height=’0′ color=’main_color’ mobile=’av-flex-cells’ id=” av_uid=’av-adqur2′]
[av_cell_one_half vertical_align=’top’ padding=’0px,30px,30px,30px’ background=’bg_color’ background_color=’#f5f6fa’ background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_attachment=’scroll’ background_position=’top left’ background_repeat=’no-repeat’ link=” linktarget=” link_hover=” mobile_display=” av_uid=’av-940c26′ custom_class=”]

[av_hr class=’invisible’ height=’150′ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jrb0rr87′ custom_class=” admin_preview_bg=”]

[av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-79c7qm’]

[av_heading heading=’How Can We Help You?’ tag=’h3′ link_apply=” link=” link_target=” style=’blockquote modern-quote’ size=’82’ subheading_active=” subheading_size=’15’ margin=” padding=’20’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-37cxeu’][/av_heading]

[av_hr class=’invisible’ height=’5′ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-jrb0rr87′ custom_class=” admin_preview_bg=”]

[av_icon_box position=’left_content’ icon_style=’av-icon-style-no-border’ boxed=” icon=’ue83c’ font=’entypo-fontello’ title=’Let’s Chat’ link=” linktarget=” linkelement=” font_color=” custom_title=” custom_content=” color=’custom’ custom_bg=” custom_font=’#ff7979′ custom_border=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jrbf17d2′ custom_class=” admin_preview_bg=”]
We love to help in anyway we can!
[/av_icon_box]

[av_button label=’619.977.6447′ link=’manually,tel:+16199776447′ link_target=” size=’large’ position=’left’ label_display=” icon_select=’yes’ icon=’ue8ac’ font=’entypo-fontello’ color=’dark’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-tgnzhj’ custom_class=” admin_preview_bg=”]

[av_button label=’[email protected]’ link=’manually,[email protected]’ link_target=” size=’large’ position=’left’ label_display=” icon_select=’yes’ icon=’ue805′ font=’entypo-fontello’ color=’dark’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-7gkvthj’ custom_class=” admin_preview_bg=”]

[/av_one_full][/av_cell_one_half][av_cell_one_half vertical_align=’top’ padding=’30px’ padding_sync=’true’ background=’bg_color’ background_color=’#f5f6fa’ background_gradient_color1=” background_gradient_color2=” background_gradient_direction=’vertical’ src=” attachment=” attachment_size=” background_attachment=’scroll’ background_position=’top left’ background_repeat=’no-repeat’ link=” linktarget=” link_hover=” mobile_display=” av_uid=’av-3zwodq’ custom_class=”]

[av_textblock size=’30’ font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jrbac3fq’ custom_class=” admin_preview_bg=”]

Set An Appointment Today.

[/av_textblock]

[av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jr9ofawh’ admin_preview_bg=”]

[/av_textblock]

[/av_cell_one_half]
[/av_layout_row]

[av_layout_row border=” min_height_percent=” min_height=’0′ color=’footer_color’ mobile=’av-flex-cells’ id=” av_uid=’av-buxy5qf’]
[av_cell_one_half av_uid=’av-147pvuv’]

[av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-arci56v’]

[av_textblock size=’16’ font_color=’custom’ color=’#ecf0f1′ av_uid=’av-a918v1j’]
SUBSCRIBE FOR TIPS ABOUT HOME BUYING & SELLING
[/av_textblock]

[av_contact email=’[email protected], [email protected]’ title=” button=’Submit’ on_send=” sent=’Your message has been sent!’ link=’manually,http://’ subject=” autoresponder_email=’[email protected]’ autorespond=” captcha=” form_align=” color=’av-custom-form-color av-light-form’ av_uid=’av-9pmijhj’ custom_class=” admin_preview_bg=”]
[av_contact_field label=’E-Mail’ type=’text’ check=’is_email’ options=” multi_select=” av_contact_preselect=” width=” av_uid=’av-9hla5t3′][/av_contact_field]
[/av_contact]

[av_hr class=’custom’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’100%’ custom_border_color=’#ecf0f1′ custom_margin_top=’0px’ custom_margin_bottom=’20px’ icon_select=’no’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-96lnmbr’]

[av_textblock size=” font_color=’custom’ color=’#ecf0f1′ av_uid=’av-8o24evb’]

Get in Touch

[/av_textblock]

[av_button label=’619.977.6447′ link=’manually,tel:+16199776447′ link_target=” size=’medium’ position=’left’ label_display=” icon_select=’yes’ icon=’ue8ac’ font=’entypo-fontello’ color=’light’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-tgnzhj’ custom_class=” admin_preview_bg=”]

[av_button label=’[email protected]’ link=’manually,[email protected]’ link_target=” size=’medium’ position=’left’ label_display=” icon_select=’yes’ icon=’ue805′ font=’entypo-fontello’ color=’light’ custom_bg=’#444444′ custom_font=’#ffffff’ av_uid=’av-7gkvthj’ custom_class=” admin_preview_bg=”]

[/av_one_full][av_one_full first min_height=’av-equal-height-column’ vertical_alignment=’av-align-middle’ space=” margin=’0px’ margin_sync=’true’ padding=’40px,0px,0px,0px’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=” src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-76gzojr’]

[av_font_icon icon=’ue8f4′ font=’entypo-fontello’ style=” caption=” link=’manually,https://facebook.com/agentprolific’ linktarget=’_blank’ size=’40px’ position=’left’ animation=” color=’#3b5998′ av_uid=’av-6us02p3′ custom_class=” admin_preview_bg=”][/av_font_icon]

[av_font_icon icon=’ue909′ font=’entypo-fontello’ style=” caption=” link=’manually,https://instagram.com/agent.prolific’ linktarget=” size=’40px’ position=’left’ animation=” color=’#f46f30′ av_uid=’av-676xsw7′ custom_class=” admin_preview_bg=”][/av_font_icon]

[av_font_icon icon=’ue921′ font=’entypo-fontello’ style=” caption=” link=’manually,https://www.youtube.com/channel/UCUXZ8nXIg77lP4n6FgKCf4g’ linktarget=” size=’40px’ position=’left’ animation=” color=’#ff0000′ av_uid=’av-5yhw30n’ custom_class=” admin_preview_bg=”][/av_font_icon]

[/av_one_full][/av_cell_one_half][av_cell_one_half av_uid=’av-5azdz47′]

[av_one_half first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-4obd9dz’]

[av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-4afjv1j’ admin_preview_bg=”]

More

Buy

Sell

[/av_textblock]

[/av_one_half][av_one_half min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-41vdwbr’]

[av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-3nuqvzb’ custom_class=” admin_preview_bg=”]

Company

About us

Meet the Team

Contact

Jobs

[/av_textblock]

[/av_one_half][av_hr class=’custom’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’100%’ custom_border_color=’#ecf0f1′ custom_margin_top=’0px’ custom_margin_bottom=’20px’ icon_select=’no’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ av_uid=’av-2y5nk87′]

[av_one_half first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-2ezwvwn’]

[av_image src=’https://res.cloudinary.com/luxuryp/image/upload/v1661848628/bnfwucnxy38sf7poxdhx.png’ attachment=’12076′ attachment_size=’full’ align=’center’ styling=” hover=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’ av_uid=’av-28r5r1j’][/av_image]

[/av_one_half][av_one_half min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_display=” av_uid=’av-1tx87qf’]

[av_image src=’https://agentprolific.wpengine.com/wp-content/uploads/2018/11/17e09064094e7cbb87f1655e6d2ea78b_DominionWest_Transparent-150×150-140-140-c-90-80×80.png’ attachment=’12053′ attachment_size=’thumbnail’ align=’center’ styling=” hover=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’ av_uid=’av-1bp8tev’][/av_image]

[/av_one_half][av_textblock size=” font_color=’custom’ color=’#ecf0f1′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-w9re07′ custom_class=” admin_preview_bg=”]

Copyright © 2019 Agent Prolific. All Rights Reserved.

Copyright © 2019 Dominion West. All Rights reserved. Dominion West, Dominion West Capital, Dominion West Financial and affiliated entities independently owned operated. The Dominion West ® name and symbol are service marks of Dominion West Properties, Inc. CalDRE: 01872063 Equal Housing Opportunity

[/av_textblock]

[/av_cell_one_half]
[/av_layout_row]