LAS VEGAS, Nev. (FOX5) – Hundreds of thousands of people have moved to Nevada since the pandemic, and a class helps Northern California residents make informed decisions before the leap to relocate to the Silver State.
The class is titled “Exit Strategies for Leaving the Bay Area,” offered by Campbell Adult & Community Education in San Jose. Realtor Punam Navalgund created the class in 2019 and tells FOX5 that the concept was born out of necessity by a demand from clients.
“It was me hearing a need from home sellers to make more informed decisions about making their move,” Navalgund said. “There are people from all walks of life: people looking to retire, people who want to raise a family somewhere else where the cost of living isn’t as high as it is here in the Bay Area. It’s people who have a lot of equity in their homes, who aren’t really sure how much they’re going to have left at the end of the transaction,” she said.
About 70 people have completed the various classes since their launch. Navalgund said students have moved to states such as Nevada, Arizona, Oregon, Texas, Florida and Georgia, but Nevada remains a popular relocation destination. Students have made the decision to move to the Las Vegas Valley and Reno.
Many residents are concerned about tax liability despite the equity; Navalgund said the class analyzes scenarios but connects residents with experts in their potential future home.
“We help people build a support team here locally, as well as in their destination. So whether that’s looking for lawyers, looking for real estate agents, looking for tax professionals, financial planners, I really want people to feel secure about making that decision,” she said.
According to a study from the Lee School of Business at UNLV, 355,088 people moved from California from 2020 to 2023 and 148,939 people were from California. Data came from licenses surrendered to the Nevada DMV.
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