Posts Categorized: Real Estate Insights

Thinking of Retiring in California? Consider This First

Posted February 25, 2025 by Michael Turner & filed under Executive Insights, Real Estate Insights.

There are a lot of things to love about California: the idyllic weather, the incredible landscape, fresh food and rich culture. There are also plenty of things to not love about California, including being expensive, dangerous and overcrowded in many popular areas. If you are retired or thinking of retiring in California, you might want to reassess that move.

“California has become an incredibly expensive place to live,” said Chris Motola, special projects editor at National Business Capital. “When looking through the lens of regional price parity, which compares cost of living to the national average, seven out of 10 of the most expensive metropolitan areas in the U.S. with populations greater than 300,000 are in California.”

“The trend of more retirees leaving for California than choosing to stay or move to the Golden State has been going on for years and will continue to get worse,” added Jason Lindwall, president of Move Concierge.

What’s causing this aversion to the biggest state on the West Coast? A few factors, actually. Here are three key signs you should not retire in California.

High Cost of Living

“Many point to the high cost of taxes on fixed-income households, but this is only a part of the reason as California offers several types of tax relief to seniors,” Lindwall said. “The big one is the astronomical cost of living compared to Texas and Florida, which is a common destination for elderly folks leaving California.”

Lindwall cited a Zillow report that showcased the average price for a home in California is up 3.2% year over year. “Retirees can sell and repurchase a new home in a cheaper state and use the proceeds for the cheaper cost of living they’ll enjoy elsewhere,” Lindwall explained.

“California’s cost of living is 42% above the national average, with housing, utilities and groceries significantly higher than in most states. Retirees on a fixed income may struggle to maintain their desired lifestyle, especially as prices continue rising,” said Yehuda Tropper, CEO of Beca Life Settlements.

Increasing Natural Disaster Threats

Earthquakes. Wildfires. Landslides. The list goes on and on with the natural disasters that California is currently dealing with and will most likely become more extreme in the future.

“More and more, the threat of natural disasters is factoring into where the elderly wish to age in place,” Lindwall said. “They don’t want a place where there is a high likelihood of evacuation.

“The Los Angeles wildfires burned around 35,000 square miles and scared the local population tremendously,” Lindwall added. “We should never underestimate the psychological toll something like this can take on someone who may have less mobility, chronic illness or other age-related ailments that can stress their health.

Tropper highlighted that in light of the recent wildfires, home insurance costs have gone up, as well as the number of policy cancellations.

Expensive Healthcare

While California is known for being a state that loves to embrace healthy living and clean lifestyles, it all comes at a cost. As retirees age and require more medical attention, the price goes up just to maintain a good bill of health, which can be quite costly in California.

“[The] monthly cost of nursing care, which is $11,437 in California versus $7,908 nationally,” Tropper added. “Unless you have a great long-term care insurance policy or a large nest egg that can cover the cost, another state is probably a better choice.”

Read the full article on GOBankingRates.com

Dallas and 4 Other Texas Cities That Retirees Will Flock To Under a Trump Economy

Posted February 20, 2025 by Michael Turner & filed under Executive Insights, Real Estate Insights.

The upcoming presidency will bring plenty of changes to the economy and it can influence where retirees relocate. Some Texas cities are positioned to benefit from the incoming administration, plus the influx of retirees that may come their way. Dallas is one of the big-name cities set to welcome retirees, but there are a few other places to keep on your radar.

Billy Snelson, chief marketing officer of Move Concierge, knows his way around Texas, as he previously worked as the vice president of marketing at Keller Williams Realty and vice president of brand strategy for NFP, an insurance company.

He grouped the Dallas and Houston Metro areas together when making his recommendation due to their similarities. He also made three additional Texas city recommendations which you’ll hear more about later.

“A big draw for retiring in major Texas cities is the abundant senior living communities that provide on-site healthcare at an affordable price. These are often located near grocery stores and restaurants if driving is a challenge,” he said. With the question of healthcare and inflation at the center of a Trump economy, this makes these metro areas popular among retirees.

“The cost of living in Texas is lower in most states and there is no state income tax. If you own your own home, additional tax benefits usually come with having your own property,” Snelson added. “Furthermore, the major metro areas of Houston and Dallas have plenty of hospitals nearby in cases of emergencies. Dallas has access to many lakes, while Houston is only an hour from the Gulf of Mexico.”

Read the full article on GOBankingRates.com.

Chrisman Commentary Mortgage Podcast Talks Move Concierge

Posted July 16, 2024 by Jeff Brown & filed under Real Estate Insights.

In a recent Chrisman Commentary podcast, Move Concierge’s Founder & CEO Gabe Abshire and Chief Revenue Officer Sajag Patel discussed the company’s beginnings and plans for the future in the home set-up space.

Utility Concierge started in 2009 in the Texas area before changing its name to Move Concierge this summer. The company began by connecting customers to eight essential services: water, gas, electricity, TV, internet, phone, home security, and pest control, the basics homeowners need when moving into a new home. “We step in during the most stressful part of the move, make that a smooth transition, and help with all home services and utilities,” Gabe said. “Move Concierge, which is 100 percent referral-based, partnering with real estate professionals to provide added value.”

“With the recent lawsuits in the industry, agents are looking for ways to articulate value to their clients,” Sajag said, adding that agents need more tools in their toolbox. Move Concierge has responded to this need by offering more services. It now has a change of address service and provides a full-blown concierge service experience by surveying professional movers. The company was already saving homeowners 6-8 hours. “But, if they are leaning into the moving piece of it, we can save them an additional 2 to 4 hours, depending on how many companies they quote,” Sajag said.

With the name change, Gabe says they want to evolve into the customer’s lifetime concierge. ”We touched them in a unique spot 10-12 days before the move and helped them get into the home. But how can we stay in front of that consumer for life? We want them to call us whenever they move or need something for their home,” Gabe said. Since the real estate professional is the company’s client, the real question is: How can they position these professionals to stay connected to that customer for life?

Move Concierge is aiming to grow its organization to 300 team members this year. “Our organization has amazing people, and we will layer technology on top of that,” Gabe said.

The way to the future is technology, but only as a supplement to human interaction. Consumers still want to talk to a physical human, even when a technology solution allows them to do tasks independently. “There are so many different options out there for people to choose from, but it takes a lot of time and research, and if they could do it with one simple phone call with one of their concierges in thirty minutes or less, that’s more appealing to them,” Sajag said.

When people hear the word concierge, it’s seen as a luxurious item and something that people can’t afford. Move Concierge wants to be a part of the entire experience, and instead of something nice to have, their services will hopefully become a must-have as they partner with more agents and brokers across the country.

Listen to the entire podcast with Robbie Chrisman here: https://www.buzzsprout.com/1597873/15300562