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TW
Even so they'll make out like bandits in many
Wed Sep 12, 2018 3:35pm
146.7.87.71

other states.

We have people moving here that sold roughly 3 bedroom 1500 square feet houses in California for $400-$500k, move here, buy twice the house for $200k, and are left with another $200-$300k in the bank.

  • Talking To My Niece From California..... ~ Deanna, Wed Sep 12 2:53pm
    She and her husband plan to leave California, when they retire....BUT, she has found out that they will have to pay 3.5% of their sale price of their home to the state of California, if they do not... more
    • Just spoke Tuesday to couple who sold their house... ~ KDM on the left coast, Thu Sep 13 11:56am
      ...and moving to Colorado. Middle class folks who are now retired. Wife is originally from Colorado and desiring a place to live with lower cost of living. They like many folks here who sell end up... more
      • What is your definition of a family? ~ G🤔🤔G, Fri Sep 14 1:44pm
        You have stated a kind of misogyny?
      • Yes!!! ~ Deanna, Thu Sep 13 1:25pm
        It truly is sad......the California, I knew growing up....does not exist anymore...but, so goes life...:) As Colorado is burgeoning also....and sincerely, has been for 30 years or more....well, I... more
    • she's owned for 30 years and had to pay 3.8% I believe she said. Plus all the depreciation over the years... the state took about 60K of her equity.
      • Oh My Gosh!! ~ Deanna, Thu Sep 13 1:22pm
        It is for real then......! My niece had talked to a lifelong friend who has just left California and now bought a home in Idaho......
    • Even so they'll make out like bandits in many ~ TW, Wed Sep 12 3:35pm
      • Yes!!! ~ Deanna, Wed Sep 12 3:41pm
        I know!!! I had a high school girlfriend and husband move to Colorado...probably 20 years ago now...and that is exactly what they did.....:) BUT, they didn't have to pay that 3.5%....LOL
    • California or if it is actually common elsewhere as well. I don't know. My forays into real estate have been more of land than houses.
      • Real estate transfer taxes are prohibited by law in Oregon...it was a citizen initiative ballot measure approved in 2012. I have a few investment houses (they're a pain in the ass, and I'm... more
      • It Isn't In Colorado.... ~ Deanna, Wed Sep 12 3:43pm
        Every state has different ideas.... When we moved to Kansas in the early 80's they taxed your savings accounts years...but, the don't do that anymore....
    • It's not so bad is it? ~ G🤑G, Wed Sep 12 3:21pm
      They plan to purchase another house out of state, right? If the 3.5% was for leaving the state at the moment of death you might have a cause for complaining.
      • I suspect a fair number of retirees ~ Sprout, Wed Sep 12 3:34pm
        are planning on selling and moving in with family elsewhere. Moving in with their children and such. Or moving into a retirement home or community.
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