Wednesday, August 31, 2005

South Bay 55+ Housing

Many residents in the South Bay would like to sell their large family home and buy a smaller or single level home. For some it is a question of stairs; others don't want the upkeep of a large home and yard and many would like to travel without worrying about leaving their home for a long period of time. Unlike many parts of the country the South Bay has few communities that are exclusively 55+. In fact Southern California, with the exception of the desert, has almost no Senior communities. This makes it difficult if you want to remain in the same neighborhood. Locally all 55+ housing is in Torrance. There are three developments with a few more in the works. Sunset Gardens is across from the Crossroads Shopping Center, Village Pacifica is behind Pep Boys off Sepulveda and New Horizons is off Sepulveda/Maple near the Del Amo Shopping Mall. Prices range from $285,000 - $550,000. Most of the units are 1 or 2 bedrooms and less then 1100 sqft. In Orange County there are two Leisure World Communities( Seal Beach and Laguna Woods) and the Huntington Landmark in Huntington Beach. Prices range from $160,000 to over $800,000 in Laguna Woods for a large detached home.

For some the lure of the Desert and golf was hard to ignore. However the long hot summers have left many questioning that decision. Let's face it the weather along our coast is the best. If you are thinking about staying locally there are options. Manhattan Village is the choice of a number of people who want to downsize but stay close to the beach. Most of the homes in Manhattan Village are two story with the exception of the Plan 5 townhomes which are a single story 2 bedroom plan. There are few Plan 5's and when they come on the market they sell at a premium. Another option is the condominium units along Catalina and The Esplanade in Redondo Beach. Most of these units have elevator access, are one level and have an ocean view. The main drawback is that they usually have subterranean parking which doesn't let you putter in the garage.
If you are concerned about property taxes on a new property remember Proposition 90 allows you to sell and buy a less expensive home but keep your current tax base.
If you would like more information call or e-mail me.

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