Castro Valley CA Real Estate Agent Murline Monat Discusses Sacramento Bee Article: Boomers Stay in Place Instead of Downsizing, Causing Market Gridlock

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Murline Monat, Castro Valley CA Real Estate Agent, discusses how some Boomers want to downsize, but desired urban properties are too expensive, according to recent Sacramento Bee article.

As the generation known as Baby Boomers, those born between 1946 and 1964, have started turning 65 and retiring, many want to move from their large suburban homes where they raised families into smaller, more manageable housing located in walkable urban areas. What many are discovering is that the cost of these desirable urban properties are just as high or higher than their existing suburban homes, and “downsizing” and cashing out isn’t economically feasible. This is according to the CNBC article "Sticker Shock Stalls Downsizing" published on February 27. (1) According to the California Association of Realtors (CAR) 2014 Baby Boomer Survey(2), Boomers still play an active role in the housing market. “If Boomers can’t afford to move to their desired urban locales, then these suburban homes are not available to the Millennials, who are starting their families and want the good schools and larger homes associated with suburbia,” said Murline Monat, real estate agent specializing in Castro Valley, CA, a popular suburban area in the East Bay hills of the San Francisco Bay Area.

The survey goes on to say that while more than half of homeowner Boomers don’t plan to sell their home when they retire, it is because they are happy in their current homes and do not wish to relocate or downsize. This is according to an article published in the Sacramento Bee, called "Baby Boomers Still Play an Active Role in the Housing Market, published on February 9. (3) Of the 10 percent of current homeowners who do plan on selling their home when they retire, half of them plan on downsizing to a smaller home, and less than half plan to move out of California. Only 25 percent of Boomers had to postpone their retirement due to the recent economic recession, with two-thirds saying they plan on retiring within 10 years.

“If Boomers don’t sell because they like where they are and can afford to stay put, this puts further downward pressure on housing supply for the Millennials,” commented Murline. “This makes homes for sale in Castro Valley Neighborhoods highly desirable by Boomers and Millennials, making them a great long-term investment,” states Murline. Millennials are the generation of people born between 1981 and 2000. According to the US Census Bureau, there are approximately 8.6 million baby boomers currently reside in California.

About Murline Monat, Realtor®

A long-time Bay Area resident, Murline brings a wealth of knowledge and experience to her realty career – including an M.S in Industrial Psychology, building her own home, and group facilitation. Her background makes her an excellent champion for her clients. By ensuring her clients are appropriately informed throughout the purchasing or selling process, coordinating all the parties involved, and negotiating the best deal, Murline’s reputation in the community and realty industry is impeccable.

Before becoming a realtor in 2009, Murline Monat spent her time analyzing sales trends for both large corporations and small businesses. The difference between retail sales trends and real estate trends are minimal and she is able to support her clients in one of the most important lifestyle choices they will make. These decisions “bring great comfort and satisfaction to individuals and to families. I love being a part of that process.”

A Bay Area resident since the age of 5, Murline and her husband made Castro Valley their home because of its central location for both of their careers at the time. While a practical choice, the decision to live in Castro Valley has always been a happy one.

Contact Information

Murline Monat
Empire Realty Associates, Inc.
Danville, CA 94526
510-406-0114
925-523-9852 MMonat(at)EmpireRA(dot)com
CastroValleyNeighborhoods.com
MurlineMonat.com

(1) http://www.cnbc.com/id/102463222
(2) http://www.car.org/newsstand/newsreleases/2014releases/2014boomersurvey
(3) http://www.record-bee.com/20150209/baby-boomers-still-play-active-role-in-housing-market

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Suzanne Bourgault
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