Known for its “Best” lists, US News & World Report is now out with its Best Senior Living list. You’re now able to search for what they’ve determined to be the “best” near you.
(From US News & World Report) For many older adults, there may come a time when living in their current home is no longer desirable or possible. Making a choice about what the right next steps are can depend a lot on their health and their preferences.
Someone who no longer wants the upkeep of a larger home and yardwork might choose an independent living or continuing care retirement community. If basic daily tasks are becoming a struggle or if they’re recovering from a hospitalization, an assisted living setting where there is some help available, either temporarily or longer term, is a good choice. Families concerned for a loved one with memory loss can consider a memory care community with staff to help with both daily activities and safety.
To help seniors and their families make these decisions, residents and families from over 3,000 independent, assisted and memory care communities were surveyed. They were asked to rate their experience with the things that matter most – the kindness of staff; variety of activities; quality of the food and dining experience; whether local transportation is provided to doctor’s appointments, grocery stores or other daily needs; the quality of on-site caregiving and more. The top-rated communities for each level of care have been rated Best Senior Living in their categories.
A great article in Forbes Health about how families can go about establishing a Healthy Aging Plan which includes exploring senior living communities which provide a safe environment with various levels of support which may be needed. Senior living facilities and communities are popping up everywhere and this article gives families are road map to planning a senior move.
(From Forbes Health) As we age, we can acquire health and physical issues that can impact our ability to live independently. In such situations, living at home—especially alone—might not be the safest option. Fortunately, planning ahead for a more suitable living environment can boost their overall quality of life. Read on to learn more about how various forms of senior living can fit positively into a balanced future and the importance of assisted living planning for a smart and healthy aging plan.
If you have a senior loved one who had Covid, be aware of long Covid symptoms that they could be experiencing weeks after recovering from the virus. Doctors say family members often mistake the symptoms for normal aspects of the aging process.
A recent Washington Post article looks at “how a move manager can help you trim down on your belongings.” There are several of these companies in the Atlanta area including franchises Caring Transitions and Smooth Moves. They are extremely helpful for homeowners or their adult children who need to clean out, liquidate items or pack in advance of a move or to simply ensure the space is clutter-free, clear and safe.
Like a senior real estate specialist (SRES), these organizations specialize in helping older adults downsize and relocate. Check out this article from the Washington Post and here are links to a couple of the senior move managers in Atlanta.
They will provide you with a quote for the services you need.
Senior housing is bouncing back after a struggle through the pandemic. So, what’s popular now when it comes to senior living?
Senior Housing News explores the latest senior living trends.
(From Senior Housing News) More senior living projects will be focused on the small-home trend, to create affordable environments that are easier to secure from an infection control standpoint. Such projects might involve campuses of modular or prefabricated tiny houses, or dwellings arranged in “pocket neighborhoods.” Dr. Bill Thomas is a proponent of such communities, with the Kallimos Communities and Minka initiatives. The trend also includes the growth of franchised residential assisted living, as exemplified by Majestic Residences.
Not only will communities become bigger and smaller than ever, but some will redefine the high end of the market, while senior living will also become more accessible than ever for less affluent consumers.
In terms of luxury, the urban offerings from Coterie, Inspir, Sunrise and Watermark already are setting the bar higher than ever, with designs, technology offerings, hospitality services, health care, prime locations and other components justifying monthly rates of $20,000 or more. Providers such as Balfour Senior Living, Solera Senior Living and Galerie Living are also pushing the envelope on luxury. In 2022, expect further innovations in luxury senior living, such as the recently announced plan from Hallmark Properties to create three “ultra luxury” residential assisted living communities of fewer than 20 rooms, with residents having access to a gourmet chef and a personal butler.
At the same time, more senior living providers will make good on their plans to serve middle-market consumers in 2022. On the leading edge of this trend, 2Life Communities just announced plans for its first middle-market Opus community, making progress on a concept that has been in the works. 2Life is just one of many senior living organizations that has been contemplating how to serve the middle market, given the incipient demand that was quantified in research released in 2019. The next 12 months will bring more concrete examples of how providers and investors believe they can meet this demand, with Transforming Age and Seasons Living being two such organizations to watch.
We’re fairly certain in this crazy economy, pretty much everyone is wondering if they’ll have enough money to retire comfortably. This great article from AARP addresses just that and asks a few questions that might have you rethinking your current retirement strategy.
What keeps you up at night?
(By Donna Fuscaldo for AARP) If worrying about running out of money in retirement is keeping you up at night, you aren’t alone. Untold numbers of older adults have that concern, and for good reason. Inflation is soaring, gas prices hit a national average of over $5 per gallon, and people are living longer. All of which means your money has to work harder to last.
“Everybody is losing sleep” about retirement, says Bryan Kuderna, a certified financial planner. “It’s definitely a bigger one for women, who have longevity in their genes.”
You can’t control inflation and gas prices, but you can take steps to control how long your money lasts in retirement. If any of the actions below sound familiar, it may be time for a reset.
Too much spending in the early days of retirement Your entire working life was spent amassing money for retirement, so who can blame you if you want to spend it early on. But do too much of that and you may run into problems down the road. “One of the big things we see is as soon as people retire, they treat every day like it’s Saturday,” says Kuderna. “They go into retirement projecting their expenses today will stay that way the rest of their lives. A few extra vacations and trips with family and friends, and before they know it, they spent their retirement account in year one or two.”
How to fix it? Rein in your expenses or get a part-time job to supplement your income. Not sure where to begin, AARP’s Money Map helps you create a budget and build emergency savings.
Gifting too quickly It’s natural to want to help your children and grandchildren out, but too much of a good thing can leave you penniless. Before you book that cruise for the entire family or give your child the down payment for a home, make sure you can afford to. “The rule of thumb I tell my clients is first make sure you’re taking care of yourself financially,” says Matthew Curfman, a certified financial planner and president and co-owner of Richmond Brothers. “If you don’t take care of yourself, you can’t help others financially.”
How to fix it: Learn to say no, at least for now. Make sure you have enough cash in the bank to live comfortably in retirement, and then lend a helping hand.
Upsizing instead of downsizing Some people go into retirement with the intention of downsizing to a smaller home, but then end up doing the opposite. Instead of saving on housing, they spend more. “They think they will downsize and will have all this equity from the house, so they buy a little condo up north and a little condo down south to do the snowbird thing. And all of sudden they didn’t downsize, they changed the situation,” says Kuderna.
How to fix it: Don’t treat the equity in your home as a windfall. Count it as an income stream you can live off of in retirement.
No long-term care plan to speak of Close to 70 percent of Americans 65 and older will need long-term care in their lifetime, according to the Urban Institute and the U.S. Department of Health and Human Services. Some have family members to rely on, but close to half will need to pay for long-term care on their own, and many have no plan to do so. “It’s a pretty expensive proposition to need a full-time nursing home or at-home care,” says Curfman. “If you do nothing and something happens, you’ll have to pay for it somehow.”
How to fix it: Add long-term care coverage to your retirement savings plan. Depending on your situation, it may mean setting aside money, getting a long-term care insurance policy, or working with a financial adviser to devise another tax-efficient strategy. More the DIY type, check out Ace Your Retirement a chatbot that asks you questions and offers up retirement advice.
You have a lot of debt Lingering or new debt can be a big blow to your retirement savings. It may have been easy to manage when you were collecting a paycheck, but it can hurt your cash flow and lifestyle when you’re on a fixed income.
How to fix it: Try not to bring any debt with you into retirement. If you do, work on paying it off and resist accruing new debt.
You’re living on pretax income Taxes are a big consideration when you begin withdrawing money from your retirement savings account. If it’s a traditional 401(k) or IRA, withdrawals are taxed as ordinary income. “It has a ripple effect on your overall tax situation and cash flow,” says Kuderna. “That $1 million is suddenly $700,000. It’s not going to last as long.”
How to fix it: Move some of your retirement savings into a Roth IRA or convert your traditional 401(k) into a Roth 401(k). With both investment vehicles, you don’t pay taxes on withdrawals once you’ve had the account for five years and are 59 1/2 or older. Keep in mind that the conversion is a taxable event.
Investments aren’t keeping up with inflation The great wealth-eroding factor has always been inflation. That’s worse in 2022, with inflation running at a 40-year high of 8.6 percent. Diminishing purchasing power isn’t the only problem in high inflationary environments. Your investments have to work harder to hold their value over the long haul. “People entering retirement at 65 think they should be all cash or fixed income,” says Kuderna. “That money is for when they are 80. It can be in the markets and keeping pace with inflation.”
How to fix it: With inflation soaring, a portfolio checkup may be in order to ensure your investments are allocated properly. The goal is a well-diversified portfolio that has just the right amount of risk.
A new CNBC report said it all, “It’s a scary time for new retirees. Stocks have plunged this year. Bonds, which traditionally serve as a ballast when stocks falter, have also been pummeled. Both trends are worrisome for seniors who rely on investments for their retirement income. High inflation also means retirees need to draw more income to afford the same items and make ends meet.”
So, what’s a baby boomer to do? What steps should you take to protect yourself from loss? Of course, the #1 recommended action to take is “spend less” but there are other things to be mindful of. Click here for the full article.
It used to be that a family stayed in a home for 50+ years moving out only when necessary, but times have certainly changed. Couples and individuals are healthier longer and when they decide to move, it’s not necessarily a move to live with a child or into a senior living facility.
The National Association of Realtors’ 2021 Generational Trends Report shows the changing priorities of today’s seniors.
1/4 or more of seniors surveyed cite the desire to live closer to family and friends as their primary reason for relocating. The second most cited reason is that they consider their existing home too large.
More than 1/2 of seniors surveyed say their top consideration when looking for a neighborhood is the quality of the neighborhood. Coming in second is its proximity to friends and family and third is its convenience to shopping and health facilities.
When asked about factors causing a buyer to move, 1/4 of 66-74 year olds and 1/3 or 75-95 year olds say a household members health is the primary reason.
Among those considering senior-related housing, today’s seniors are looking for detached single family houses located in a suburb.
Understanding what seniors want and need in their next homes is what Senior Real Estate Specialists do best. They specialize in knowing what homes and communities work best for seniors who want accessibility, convenience and security in their future neighborhood.
The survey also revealed that seniors contact agents as a first step in the home search process, take the longest (an average of 10 weeks) to search, and ultimately view fewer homes than younger home buyers. Seniors want a realtor with the expertise to make the homebuying process as stress-free as possible. Atlanta Seniors Real Estate is one of the best at understanding how best to serve senior homebuyers. Contact us for a complimentary consultation to learn how we can help you with your next real estate transaction.
Have You or a Loved One Been Scammed? Here are some recommendations of what to do next:
DO
Report the fraud. Let people who can help you know about the scam. Reporting the deception can stop more individuals from being victimized. Start by contacting your bank and the Federal Trade Commission at https://reportfraud.ftc.gov/#/ You may also want to report losses to local police or your State Consumer Protection Office at https://www.usa.gov/ state-consumer.
Work with your bank to recover lost funds. Contact your financial service provider to let them know what happened. Although there is no guarantee, they may be able to help recover your funds if you get in touch quickly.
Change passwords and ignore unknown calls. After a scam, change your passwords, replace any compromised credit cards, and block calls from unknown numbers to avoid getting scammed again.
DON’T
Be embarrassed. Fraudsters are convincing, and millions of people fall victim to their tactics every year. Although it is unsettling to be taken in by a scam, don’t let those uncomfortable feelings stop you from taking action.
Stay silent. Talking to family and friends that you trust about your experience can help you move on. Remember–they encounter scams too. Sharing your story can raise awareness and keep your loved ones safe.
Stop using all devices. Getting scammed can shake you up, but don’t let it shut you down. Devices are still safe and useful if you take precautions.
In the United States, several government agencies investigate complaints. Report your experience to one of the following:
>Medicare-related fraud: U.S. Department of Health 800-HHS-TIPS • (800-447-8477) • oig.hhs.gov/fraud/report-fraud
>IRS Impersonators: Treasury Inspector General for Tax Administration (TIGTA). 800-366-4484 • treasury.gov/tigta/reportcrime_misconduct.shtml
>Social Security scams: Social Security Administration 1-800-269-0271• https://oig.ssa.gov/
>General scams: The Federal Trade Commission 877-FTC-HELP (382-4357) • ftccomplaintassistant.go
What you need to know about VA Aid and Attendance benefits.
As Seniors Real Estate Specialists, we come across many veterans who are preparing for alternative accommodation due to their health conditions and they are not always aware of some of the benefits that they may be eligible to receive. Our initial consultations often reveal details that allow us to offer support and or services that will assist them on their journey.
Veteran benefits are just one of the services we have shared with our clients that allow them more flexibility to afford their preferred senior living community. Such as in the case of Mr. & Mrs. B, who would have settled in a place not close enough to their adult children, if we didn’t help them find out about a veteran benefit that would help them. It provided them with more than $2,000 per month which would go directly toward their living expenses for a beautiful 2-bedroom cottage located in a Senior Living Community within 10 miles of their children (they were over 40 miles away before the move!).
In today’s economy, families are having to make tough financial choices, but some have relief available when it comes to long-term care for their loved ones. Veterans Aid and Attendance benefit (not widely known about), is a government program that can help families better manage the costs of caring for an elderly veteran or dependents.
So, what is Aid and Attendance?
VA Aid and Attendance is a monthly pension benefit that provides tax-free payments to Veterans who served during wartime. In addition to being available for Veterans, single surviving spouses and dependent children are also eligible for this benefit.
You may be eligible for this benefit if you get a VA pension, and you meet at least one of these requirements.
You need another person to help you perform daily activities, like bathing, feeding, and dressing, or
You have to stay in bed—or spend a large portion of the day in bed—because of illness, or
You are a patient in a nursing home due to the loss of mental or physical abilities related to a disability, or
(Published with permission of Caring Transitions of Northeast Atlanta)
What is a family Heirloom? Heirlooms are usually possessions passed down from generation to generation, holding a story about a piece of important family history. But not all heirlooms share the same type of value outside of your family circle. To most, that same heirloom isn’t worth much at all. That’s because everyone attaches a different value to their heirlooms, making it priceless in their mind.
There are four types of value we attach to family heirlooms — sentimental, functional, monetary and social. It’s beneficial to understand the value we put on items passed down from generation to generation — especially as we talk about these items with younger family members.
Kiplinger is out with what they call eight financial survival tips. It’s a great read with some terrific suggestions of things to keep in mind as we deal with inflation and a recession.
(From Kiplinger) Why is this year different from all other years for seniors? Inflation. The latest numbers show a whopping inflation rate that’s the highest since 1982. This means that everything you buy will be more expensive. You see this impact at the gas pump, the grocery store, the doctor and, frankly, all over. The issue is that you don’t have a choice not to buy certain things.
It’s interesting, because, we sort of have a love-hate relationship with our financial world. We love that the economy is back roaring at a full-employment rate and that almost anyone can get a job if they want one. We also love that wages are going up and that we are back in the car and eating out and traveling. But at the same time, we hate that this growth breeds inflation, resulting in costs for everything rising. We also may support the Ukrainians in their war with Russia, but we hate the costs to us.
You’ve probably had it happen with a loved one – they’ve forgotten something that is obvious, or their forgetfulness is completely uncharacteristic. You immediately think, “is it the beginning of Alzheimer’s?”
More often than not, it’s simply a natural part of aging. It’s important to know and understand the difference — and be able to recognize the signs of Alzheimer’s as early as possible to ensure safety and hopefully slow the progression.
Recently, Atria Senior Living published a great article explaining the differences between dementia and Alzheimer’s, as well as the signs to look for.
(Published by Atria) Dementia is not a disease, but a broad term that refers to various conditions of more serious cognitive impairment. It is caused by damage to brain cells which can affect thinking, behavior and feelings. There are many types of dementia including Lewy body dementia, mixed dementia, vascular dementia, frontotemporal dementia and more. Alzheimer’s is the most common form of dementia – accounting for 60–80% of dementia cases.
What we know about Alzheimer’s
Alzheimer’s disease is one of the most prevalent health concerns among adults ages 65 and older and is the sixth-leading cause of death in the United States. It is a degenerative disease resulting from brain cell damage where dementia symptoms gradually worsen over time.
Scientists are working hard to identify what causes this damage. They do know that, as this damage spreads, the brain cells lose their ability to function and then die. This causes irreversible changes in the brain that leads to memory failure, personality changes and problems carrying out daily activities. A person with Alzheimer’s lives four to eight years on average after diagnosis, but depending on other factors, can live as long as 20 years.
It’s not something we like to think about, but most Americans will face a time when they need assistance to care for themselves. Whether you’re thinking of yourself or a loved one, we all must be well versed in long term care and other elder care programs in order to be prepared.
AARP’s CEO Jo Ann Jenkins has written an article calling attention to what she refers to as a deeply flawed long term care system. She explains what long term care is and what is at risk today. Take a few minutes and learn more about the system you may one day depend on.
Cybercrime reported to the FBI cost Americans 50 and older nearly $3 billion last year, a 62 percent increase from 2020, according to data from the bureau. The steep rise in dollar losses came despite a drop in incidents reported by older adults to the FBI’s Internet Crime Complaint Center (IC3). Americans ages 50 and over filed 166,831 complaints with the cybercrime unit in 2021, down from 191,768 the year before.
Overall, nearly a quarter of last year’s total cybercrime losses were borne by people 60 and older, the population that is the focus of the new report. Tech support scams, investment fraud and what the bureau terms “confidence fraud” — cons that play on victims’ emotions and affections, primarily via romance scams — were major drivers of rising fraud costs, collectively accounting for more than half of that age group’s losses.
Confidence frauds, which also include grandparent scams, were the costliest cons for older adults, with 2021 losses topping $432 million for victims age 60 and up, a 54 percent increase from the prior year.
But it’s tech support scams — in which crooks posing as IT pros from well-known tech companies charge hefty fees to fix fabricated computer problems — that have seen the most explosive growth during the COVID-19 pandemic.
In case you missed it, a great interview on NPR’s Morning Edition this week. Seniors across the US are struggling with the same question — if I sell my house, where will I go? Click here to read the interview transcript.
Helping your parents downsize is an emotional process for you and for them. With some compassion, tact, preparation, and possibly some outside help, it can be a smooth experience for everyone involved.
Before helping your parents, prepare yourself mentally and emotionally. Sometimes the emotional aspect of downsizing goes overlooked as you focus on the more practical aspects. Checking in with yourself and setting your perspective goes a long way in creating a more positive experience.
Recognize that this won’t be easy. Even with a plan, downsizing can bring up some tough emotions. Expect the process to be a little messy and stressful and be compassionate towards your parents and yourself.
Be patient. Downsizing can be especially difficult if your parents are leaving the family home, or if an upsetting circumstance triggered the downsize. On top of that, it often takes longer than expected, depending on how many possessions must be decluttered. Put yourself in your parents’ shoes as best you can. A little patience goes a long way.
Don’t try to take over. Unless there is an issue of impaired cognitive function, know that your parents are ultimately the decision makers. Trying to force them into anything will only be counterproductive. If your parents are losing cognitive functioning, still be respectful and involve them as much as you reasonably can, so they feel they still have some control.
More than 2 million people in the United States file fraud complaints each year, many of them in the senior population. Here are some tips that can help you identify a scam before falling victim.
SCAM SAFETY TIP #1 If someone contacts you from an organization you trust, verify that they are who they claim to be. You can hang up or stop replying, then contact them using information on the organization’s website.
Verify the organization. Call them back: Scammers want to build trust fast— preferably in a matter of seconds. They often pretend to be from a government agency or another well-known organization such as Apple, Medicare, Amazon, or local utilities companies. These imposter scammers will have specific, personal details that make them seem legitimate. Never give out your credit card or social security details over the phone unless you are the one who initiated the call.
SCAM SAFETY TIP #2 Be aware of people who present you with a problem or a prize. Never give out personal details or credit card info over email or over the phone during an unexpected, incoming call.
Be skeptical of urgent problems or sudden prizes: If you get a call about a sudden problem (a missed bill, back tax, family health emergency) that until now, you hadn’t known about, be alert. Be skeptical of any unexpected prizes like a sweepstakes or all-inclusive vacation. Oftentimes, scammers will use these scenarios and ask for a “small fee” to claim winnings.
SCAM SAFETY TIP #3 Keep social media accounts private. Never give someone who contacts you remote access to your computer or device.
Avoid oversharing personal details online: Scammers are experts at extracting info. Sometimes they will research their targets beforehand. They might call and know names, hometowns, family members or home purchase prices. This kind of information is available online, and is easy for them to access. Having this information also makes it easy for them to win your trust and get more details from you. After purchasing a home, your personal details may be more readily available online. Be alert.
SCAM SAFETY TIP #4 Even if something is urgent, there is always time for you to verify details online.
Remember, there’s always time to double check: If you or someone you know is being pressured to make an immediate payment, be suspicious. Scammers expect victims to act fast, before anyone can realize they are illegitimate, so they threaten with losses. If you feel nervous, time-pressured, or afraid of losing benefits during a phone call, it may be a scam.
SCAM SAFETY TIP #5 Only use protected, traceable methods of payment. Using a credit card means seniors can dispute payments “after the fact” if a product is not delivered as advertised.
Pay with credit card: Scammers often request specific forms of payment. Anytime someone asks to be paid quickly via wire transfer, gift card or mailed cash, be wary. Most legitimate organizations offer a variety of safe, traceable payment options and let you decide the best form of payment.
BONUS TIP To opt-out of marketing calls and easily recognize scams, consider registering your number with the National Do Not Call Registry at donotcall.gov. Within a month of submission, all legitimate businesses should stop calling you. Scammers will still use your number, but you will know that the calls you receive are no legitimate.
In a new CNBC report, analysts are trying to make sense of what’s happening with the housing market. They say things are changing and the root cause is simple — affordability.
“The housing market isn’t going to crash; a plateau is more likely”.
Atlanta area SRES realtor Hilary Walker’s take on the report: “I agree with this statement and the report’s discussion completely. I think some buyers might want to consider purchasing now before the rates get any higher and then plan to refinance when rates drop. I also agree with the presenter’s statement about Adjusted Rate Mortgages – they are making a comeback without the scary subprime conditions that were part of the problem back in 2006/7. Just like the Reverse Mortgage/Home Equity Conversion Mortgage, the ARM is not for everyone but when you understand the product and how you can use it to your advantage it becomes quite attractive – more so now when conventional rates are going over 5% and the ARM rate remains around 4%.”
>>See the full report: https://www.cnbc.com/video/2022/05/25/housing-market-isnt-going-to-crash-a-plateau-is-more-likely.html?__source=androidappshare
According to the National Association of Realtors (NAR), the fastest growing market in real estate is made up of clients age 50+. Baby-boomers and seniors are on the move selling long-held properties and opting for homes that are easier to age in. Perhaps it’s a single level; maybe it has a smaller yard; and is certainly more convenient to services they need or family members who can help them.
In a 2022 Atlanta Seniors Real Estate survey:
67% of respondents indicated they are planning a move
40% of those saying they are looking for a ranch style home or one with an owner’s suite on the main level
While those results aren’t surprising, the challenges of a later-in-life move, especially in today’s real estate environment, often catch seniors and their families by surprise. That’s why it is beneficial to find an agent who has earned the NAR’s Senior Real Estate Specialist (SRES) designation giving them unparalleled training and experience including:
Helping manage the financial and emotional challenges of selling a long-held family home
Creating a customized plan to market and sell a property
Understanding a senior’s unique needs and creating a customized plan to ensure the new home meets those needs now and in the future
Utilizing specialized knowledge in reverse mortgages, 401(k) accounts, and IRAs for the real estate transaction
Connecting senior buyers and sellers with a vast network of movers, attorneys, home inspectors, and other experts to help through the process
In the survey, respondents were asked whether they would use an SRES agent for a real estate transaction. While 60% said they previously were aware of what an SRES brings to the table, a clear 100% indicated they would prefer to use an agent with the SRES designation.
Atlanta Seniors Real Estate client Patti put it beautifully, “It takes a special person to be able to understand the challenges seniors face when confronting the prospect of moving at their late stage in life. Managing them with respect and dignity and assuring their interests are being met is a delicate balance. We would highly recommend Hilary Walker to anyone looking to sell their home and, more specifically, to seniors faced with the daunting task of embarking on these changes late in life.”
The article below comes from the National Association of Realtors/SRES. Hilary Walker has earned the Senior Real Estate Specialist (SRES) designation and is committed to helping Atlanta-area seniors manage their unique real estate needs.
Preparing a home for sale is always a significant undertaking. For seniors, in particular, the pre-listing process can feel overwhelming. An agent who has earned their Seniors Real Estate Specialist® (SRES®) designation can guide your efforts and help make the transition go as smoothly as possible.
You can trust your SRES® designee to help you:
Map out a plan.
An SRES® understands that each client faces different circumstances and challenges. They can advise you on a sequence of steps tailored to your situation. And they’ll guide you through the process at whatever pace suits your needs. Your SRES® will take a no-pressure approach and look for ways to make your move more manageable and less stressful.
Set priorities.
Please don’t assume that every aspect of your home has to appear picture-perfect before listing it for sale. Your SRES® understands what matters most to buyers in your market and can help you focus on the most critical projects. The top priorities are often decluttering living spaces and cleaning your home thoroughly, immediately before it is listed.
Evaluate renovations.
Is it essential to update your flooring, paint your walls, or replace your appliances? Your SRES® knows local buyers’ top priorities and understands which renovations offer the biggest bang for the buck. They’ll explain your options, but it’s up to you to decide if you want to add these projects to your list.
Suggest trusted resources.
If you need help with any aspect of your move, your SRES® can provide suggestions. They’ve already vetted related service professionals that understand seniors’ concerns and can assist in decluttering, packing, renovating, and more. The choice is always yours, but it’s nice knowing you can turn to these trusted resources.
Discuss staging options.
Many sellers assume they need to stage their home before listing it. Again, this depends on your local real estate market and your personal situation. Often, staging isn’t mandatory. Today’s property marketing options include virtual staging techniques, which might be a good alternative. Your SRES® can discuss your options and offer recommendations tailored to your concerns.
Regardless of when and where you are moving, you’ll have a better experience if you work with an agent who has earned the SRES® designation- someone who is committed to helping seniors navigate their housing transitions successfully
Medicaid and veterans’ programs can help alleviate the financial burden of family caregiving. AARP takes a look at how you can qualify to become a compensated family caregiver. Click here to read the article.
Georgia’s primary elections are coming up, but you can go ahead and vote. Georgia’s May 24th primaries will determine which candidates appear on November’s general election ballot for the U.S. Senate and House of Representatives, State Senate and House, governor, lieutenant governor and other state executive offices, as well as several state high courts.
AARP has all of the information you need to prepare for voting. Click below for their Voting Guide including links to getting your absentee ballot or what you need to know about early voting.
If you’re a baby-boomer or senior and you aren’t sure what to do about downsizing, you’re certainly not alone. In a recent Atlanta Seniors Real Estate survey, we found:
67% of respondents are planning to move
40% of respondents say they will be downsizing
40% say they’re looking for an owner’s suite on the main level or a ranch style home
With inventory low, you know you can easily sell your home, but what then? Where do you go? Will you be able to find a home that meets your needs? And, with interest rates on the rise, you’ll likely be paying more than you expected just a few months ago.
So, is this a hopeless situation for seniors hoping to sell and move into something smaller?
Absolutely not.
One positive for seniors is that they have seen much higher interest rates in their lifetime, so the fluctuations aren’t as much of a shock to them as it is to younger buyers. And the plusses don’t stop there.
Atlanta Seniors Real Estate owner and Senior Real Estate Specialist (SRES) Hilary Walker, says her clients are in a strong situation if they can just find a home they like and are comfortable moving into. She explains, “In the case of these kinds of buyers, interest rates don’t bother them too much since, in most cases, they plan to use the equity they have in their current home to purchase the next home or they only plan to keep the mortgage for a few years before they pay it off and live mortgage free. In a couple of cases, they are choosing to use a Reverse Mortgage to help stretch their wealth, therefore, the interest rate is not an issue since they can choose not to make any mortgage payments on a monthly basis.”
True that higher interest rates will not necessarily mean more houses on the market, but it may mean 10 offers instead of 20. So, don’t hesitate to begin the process and sign on to work with an SRES agent who is familiar with all of the issues associated with baby-boomers selling and buying real estate.
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