EL DORADO COUNTY (CBS13) — If you are looking to put your house on the market, now is the time. Real estate experts say it’s not only low interest rates that are driving people out.
Thirty percent of people selling their homes are moving out of California. That is the highest since 2005, according to the California Realtors Association.
Kelli Griggs, the owner of Navigate Realty, says with home values rising, her clients in El Dorado County are packing up for a few reasons.
“I have never seen people leave California like this,” explained Griggs. “We have a lot of sellers that are seeing what is happening in the market and they want to take advantage of that. Along with the combination of really high fire insurance rates in these rural communities.”
Devastating flames throughout the state are changing the landscape with homeowners in the foothills who no longer want to be in the line of fire cashing out.
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“That’s a pretty hard pill to swallow, especially when they saw automatically overnight, here, you have to pay $500 more a month,” said Ryan Herbert.
Ryan and Robin Herbert are leaving their Placerville home this month to head to Tennessee after their fire insurance went from $900 to $6,200 a year.
“We are able to get four times the amount of land for half the price,” Herbert said.
Former residents say politics are also driving them across state lines.
“It seems like there are a lot of conservatives in California but our voices really truly were not being heard,” Carol Palmer said.
The county is typically known as a more conservative area. Approximately 53% of the county voted for President Trump compared to 34% of Californians statewide. The Palmers say they moved to Tennessee to create a better life for their kids.
“It’s opening up more opportunities for growth and opportunities for our children’s future,” said Abby Palmer “Here (Tennessee) feels like my voice was more heard and my vote counted better than it did in California. In California, it seemed like it was being overlooked.”
While some want out, Griggs said it’s not stopping their homes from flying off the market.
“The people who are coming from the Bay Area are not as concerned. Obviously, they feel like they are winning the lottery, getting a home at these prices,” Griggs said.