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Baby Boomers are Staying Put

As we kick off 2025, the housing market is witnessing a significant shift among Baby Boomers. Unlike past generations who downsized or relocated to new areas during retirement, many Boomers are choosing to stay put in their current homes. However, for those who are moving, downsizing remains the primary motivation.

Why They Are Staying Put

For years, the housing industry anticipated a wave of home sales as Baby Boomers transitioned into retirement. Yet, this expected surge has largely not materialized. Several factors contribute to Boomers staying in their homes longer than previous generations:

  1. Emotional Attachment: Homes are filled with decades of memories and hold sentimental value, making it difficult for many to leave.
  2. Favorable Mortgage Rates: Many Boomers secured low mortgage rates years ago, making it financially advantageous to stay rather than purchase a new home at today’s higher rates.
  3. Aging in Place: Advances in home modifications and in-home care allow Boomers to age comfortably and safely within their existing residences.

Downsizing as the Primary Reason for Moving

While a large portion of Boomers are staying put, those who are moving cite downsizing as their main reason. Downsizing offers several benefits, including reduced maintenance, lower utility costs, and the ability to tap into home equity. However, the process isn’t without challenges:

  • Lack of Suitable Options: Many Baby Boomers struggle to find smaller homes in their desired locations that meet their lifestyle and budget needs.
  • Competition with Younger Buyers: Smaller homes are highly sought after by younger generations, leading to bidding wars that can complicate the downsizing process.
  • Emotional Hurdles: Letting go of a long-time home filled with memories is never easy.

Implications for the Housing Market

The decision of many Boomers to stay in their homes contributes to the ongoing inventory shortage in the housing market. Younger buyers, particularly Millennials, face increased competition and rising prices due to fewer homes being listed for sale. On the other hand, the emphasis on downsizing among Boomers could spur demand for smaller, low-maintenance properties, driving developers to prioritize this segment in the coming years.

Looking Ahead

As we move into 2025, the Baby Boomer generation continues to redefine retirement living. Whether staying put or downsizing, their choices have far-reaching implications for the housing market. For those navigating these transitions, understanding the motivations and challenges unique to this group is key to making informed decisions.

Are you ready to explore relocating? Contact us for a consultation. We’re here to help.

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How Georgia is Attracting Seniors & Retirees

Seniors and retirees have long sought retirement destinations in the south largely because of the milder weather but there are so many other great benefits for seniors. Grace Zhu from TheStreet.com recently looked at some of the local and state tax benefits that are luring seniors to the Peach State.

  • Flat Tax Rate:
    Georgia moved to a flat tax rate of 5.39% as of April 2024. Potential annual reductions could bring it down to 4.99% by 2028.
  • Social Security and Medicare Benefits:
    Exempt from Georgia state income tax, allowing retirees to retain more of their benefits.
  • Pension Income Deductions:
    • Retirees aged 62-64 can deduct up to $35,000.
    • Retirees aged 65 and older can deduct up to $65,000 from pension income.
  • Increased Exemptions:
    • Personal exemption raised to $12,000 for singles and $18,500 for married couples.
    • Dependent allowance increased to $4,000 per child.
  • Investment Income:
    No special tax treatment; interest, dividends, and capital gains are taxed at 5.39%.
  • Capital Gains Exclusion on Primary Residence:
    • Up to $250,000 for singles.
    • Up to $500,000 for married filers.
  • 529 College Savings Plan:
    • Contributions are tax-deductible up to $4,000 for singles and $8,000 for joint filers.
    • Contributions can be made until the tax filing deadline in April.
  • Retirement Account Distributions:
    401(k), 403(b), and IRA distributions are taxed at the state level but enjoy deductions similar to pensions.
  • Military Retirement Exemption:
    • Military retirees aged 62+ can adjust their state tax returns.
    • Those under 62 can exclude $17,500 of military retirement income, plus another $17,500 if they have over $17,500 in earned income.
  • Property Tax Relief:
    • Property assessed at 40% of fair market value, with possible local homestead exemptions.
    • Exemptions available for seniors, including a school tax exemption at age 62 and additional $4,000 exemptions at age 65.
  • No State Estate or Gift Tax:
    Georgia has no estate, inheritance, or gift tax, aiding in estate planning.

For a smooth transition into retirement in Georgia, consider these tax benefits and exemptions that could help maximize your income and savings.

>>Click here to read the full article on TheStreet.com or contact us at Atlanta Seniors Real Estate if you have any questions.

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Is November a Good Time to Sell Your Home in Georgia?

If you’re thinking about selling your home in Georgia, you might wonder if November is a good time. While spring and summer are typically peak seasons for real estate, November can still be a great month to sell. Here’s why.

  1. Serious Buyers – In November, the buyers out there tend to be serious. These are people who need to move before the holidays or the end of the year. They’re motivated, which can lead to quicker sales.
  2. Less Competition – Many sellers wait until spring to list their homes, so there’s less competition in November. With fewer homes on the market, your property has a better chance to stand out.
  3. Fall Curb Appeal – Georgia’s beautiful fall foliage can give your home a cozy, inviting look. With some seasonal décor, you can boost your home’s curb appeal and attract potential buyers.
  4. Year-End Tax Benefits – Some buyers may be looking for year-end tax benefits, like deductions from mortgage interest or property taxes, which can motivate them to close on a house before the new year.
  5. Mild Weather – Georgia’s weather in November is mild and pleasant, making it easier for buyers to view homes compared to harsher winter months.

    Bottom Line: While spring is still the busiest time for real estate, selling in November in Georgia has its perks. With motivated buyers, less competition, and fall curb appeal, it could be the perfect time to list your home!

Thinking about selling? November might be your month. 🌟 Contact us today to discuss what’s right for your family.

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Seniors are Redefining Life Transitions

Working with seniors today is more fun than ever before. My clients, whether in their 80s, 90s or even 100, lead lives of passion and purpose. They take care of themselves, volunteer or are involved in clubs and church, and when it comes to their living arrangement, they simply want to be where life is easier, less complicated, and loved ones are nearby or accessible.

A recent blog I read from senior relocation specialist firm Caring Transitions had some interesting stats about seniors. For example, the US Census Bureau finds that people over 85 are now more likely to move homes than younger seniors.

  • 85+ years: 8.4% moved
  • 75-84 years: 6% moved
  • 65-74 years: 5.9% moved

    Note, research found that nearly 60% of older adults who moved to a new state relocated to a completely different region.

Why are seniors relocating? Top reasons include desire to be in a warmer climate, closer to family, they want homes tailored to their healthcare needs and places providing economic advantages.

The downside? 83% of people report that moving is stressful – not a shocking statistic but certainly one that gives people pause when considering a relocation. Luckily there are businesses, like Caring Transitions, that specialize in reducing the stress associated with relocation. Contact us for a list of other senior-related resources if you need them.

>>Read more from Caring Transitions of Northeast Atlanta.

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The Silver Tsunami

It’s starting to show up in articles and in the news but what exactly is the Silver Tsunami?

“Silver Tsunami” is a term used to describe the demographic shift that is occurring as the baby boomers—those born between 1946 and 1964—age. This aging of this large generation is creating both opportunities and challenges for society.

It will have a profound impact on things such as:

  • Health care & long-term care costs
  • Social Security strains
  • Workforce shifts
  • Transfer of wealth

The Silver Tsunami will also have an impact on real estate. Baby Boomers are aging out of their homes and downsizing. As a result, many of their homes will hit the real estate market.

For homebuyers, the anticipated influx of homes could significantly affect housing supply. Since baby boomers are often looking to downsize and not buy another home after selling, the market may see more available properties, helping to balance supply and demand. This could ease competition for younger buyers, stabilizing home prices and creating more affordable opportunities for those looking to buy.

While the full effects of the Silver Tsunami may take several years to unfold, it’s expected to gradually increase housing inventory, which could help address the current shortage.

Want to know more, contact us here at Atlanta Seniors Real Estate. We’re happy to answer any questions you may have.

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The election’s impact on real estate.

Now that we’re immersed in election season, many people ask me how the race and ultimate outcome could impact the housing market. Many of my baby boomer clients are reluctant to take action until they have a better feel for how their personal finances will be affected by this year’s presidential election.

Ultimately, I tell them that if they need to relocate or downsize, they should proceed. While finding space in a local senior living community may be fairly easy, finding a home could be challenging if inventory is low as people adopt a “wait and see” approach to selling.

Regardless of whether you’re looking to buy or sell a home, it’s important to understand how political changes can affect everything from mortgage rates to housing inventory.

1. Potential Changes to Mortgage Rates

The election can influence mortgage rates, as candidates’ policies on the economy, inflation, and the Federal Reserve play a role in shaping interest rates. If policies favor economic growth and stability, mortgage rates may remain low or stable, which benefits both buyers and sellers. Conversely, if uncertainty or inflation concerns arise, mortgage rates could increase, making it more expensive for buyers to finance homes.

2. Housing Market Regulations and Policies

New regulations or policies introduced by elected officials can impact the housing market. For example, changes in tax laws, incentives for first-time homebuyers, or new affordable housing initiatives could alter the demand for homes. These changes could benefit buyers by providing more options or financial incentives, while sellers might see shifts in market activity depending on how the policies influence buyer behavior.

3. Economic Confidence and Market Activity

The housing market thrives on economic confidence. A stable political environment can boost consumer confidence, encouraging more people to buy or sell homes. In contrast, uncertainty or economic concerns following an election could lead to a slowdown in the housing market as buyers and sellers wait to see how the economy will be impacted.

4. Local vs. National Elections

Local elections can also play a crucial role in the housing market. Local policies on property taxes, zoning, and infrastructure development directly impact home values and desirability. Buyers and sellers should keep an eye on local elections to understand how they might affect their specific market.

Want to know more?

While the impact of an election on the housing market can vary, being informed and prepared is key. Whether you’re buying or selling, staying updated on election outcomes and policy changes will help you make the best decisions for your real estate goals. If you’d like to discuss options, feel free to contact Atlanta Seniors Real Estate.

If you want to read more about how people see the election impacting the real estate market, click here for an article from MarketWatch.

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Why baby boomers are house poor.

There are more than 72 million baby boomers in the United States. Many of these boomers find themselves in a challenging financial position — they are “house poor.”

House poor means they spend so much on their home that they struggle to afford other essentials, such as daily expenses, healthcare, and leisure activities. The general rule of thumb is that housing costs shouldn’t exceed 30% of one’s income. However, for those who are house poor, these costs are often much higher.

So, why are baby boomers specifically becoming house poor? A recent article on GoBankingRates.com explains some of the key reasons.

1. Resisting Downsizing

Many baby boomers have seen their homes appreciate significantly over the years and have developed a strong emotional attachment to them. In my experience, that along with the daunting task of cleaning out to downsize prevents many from making a move when it might be the best option.

2. Refinancing Instead of Paying Off the Mortgage

Another trend affecting baby boomers is their choice to refinance rather than pay off their mortgages. While refinancing can offer short-term financial relief or extra cash, it often leads to more debt over time and fewer resources to help one enjoy late life.

3. Reluctance to Rent Out Part of Their Home

Renting out a portion of a home can be an excellent way to offset costs. However, many baby boomers are reluctant to consider this option. For those struggling with home-related expenses, it can help make the home more affordable.

4. Dipping Into Savings to Keep the House

Many baby boomers dip into their savings to cover home-related expenses, which can be risky. I advise clients to consult with their financial advisor to determine whether the home is “affordable.” Seniors can also explore a reverse mortgage.

Finding a Solution: Assessing Your Options

To avoid becoming house poor, assess your financial situation and consider all available options. Ultimately, it’s about making sure the home works for retirement—not the other way around.

Consulting with a financial advisor can provide valuable guidance tailored to individual circumstances, ensuring a stable and enjoyable retirement. And, if you’re considering a move, contact us to help you get started.

>>Click here to read the GoBankingRates.com article in its entirety.

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What the Fed Rate Cut Means for Homebuyers

The Federal Reserve’s half-point rate cut has many people wondering how they’ll be affected. What does it mean for mortgage rates and for homebuyers in general?

Lawrence Yun is the Chief Economist for the National Association of Realtors, and he weighed in on the rate cut. Yun says it is just the beginning of a series of adjustments expected to continue into 2025, with the next cut likely coming after the Presidential election. This move is driven by cooling inflation and slower job growth in recent months.

Mortgage rates, which aren’t directly controlled by the Fed but are influenced by its decisions, have already dropped by 150 basis this year. However, any further declines are expected to be minimal. The high federal budget deficit means large borrowing will limit the available capital for mortgage lending, reducing the impact of future rate cuts.

For homebuyers, the drop in mortgage rates has significantly boosted purchasing power. A buyer with a $2,000 monthly mortgage budget now has about $50,000 more to spend on a home compared to earlier in the year. Those who were previously priced out due to high rates might find themselves back in the market.

It’s a promising shift for buyers, but future Fed cuts may not have as strong an impact due to broader economic factors.

>>More information is available in this Marketwatch wrap up on the Federal Reserve rate hike.

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Changing Real Estate Commission Rules

You may have heard about a National Association of Realtors settlement recently. It includes changes in how real estate commissions are disclosed and negotiated with a goal of increasing transparency and fairness for homebuyers and sellers.

What’s it all about? Well, back in 2019, Missouri home sellers filed a class-action lawsuit against the National Association of Realtors (NAR), accusing it of antitrust violations that inflated commissions. A jury sided with the plaintiffs, awarding a $1.8 billion verdict against NAR.

To settle this and other similar lawsuits, NAR agreed to two key rule changes:

  1. When listing homes on Multiple Listing Services (MLS), agents can no longer include the buyer agent’s compensation.
  2. Buyers will now be able to negotiate and formalize their agent’s pay through a signed contract.

The settlement doesn’t do away with the traditional 5-6% commission split between listing and buyer agents, and NAR emphasizes that commissions were always negotiable. But the changes are expected to make commissions more transparent and competitive, as buyers will now be more directly involved in negotiating agent fees.

If you have questions, you can contact us here at Atlanta Seniors Real Estate and we’ll follow up with you. You can also read more from the National Association of Realtors by clicking here.

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The cost of aging in place.

Although my work involves helping seniors downsize and relocate, I do receive a lot of questions from seniors who are exploring whether to “age in place” rather than endure the inevitable stress of a move.

Aging in place simply means you’ve chosen to remain in your family home – perhaps making some changes to accommodate physical limitation. People feel comfortable with familiarity, and it provides a sense of independence.

According to AARP, 77% of adults aged 50 and older prefer to stay in their homes.

Samara Scheckler from Harvard’s Joint Center for Housing Studies points out that while many seniors want to remain at home for independence, 70% will need some form of assistance to do it. This assistance ranges from daily activities to more advanced care, often requiring economic resources that may be out of reach.

A recent article looked at how much money seniors really need to age in place.

The cost of in-home care is a significant factor. MarketWatch reports that the average cost of a home-care aide is $27 an hour, and Genworth’s Cost of Care report shows that these costs are on the rise. A home health aide now costs a median of $61,776 annually, while homemaker services cost about $59,488 per year.

Additional Home Modifications

Beyond direct care costs, seniors may need to make modifications to their homes to ensure safety and accessibility. This could include installing ramps, grab bars, or other mobility-enhancing updates, adding to the financial burden.

Financial Reality

Given these expenses, only 14% of single individuals aged 75 and older can afford a daily visit from a caregiver, according to MarketWatch. While the desire to age in place is strong, it’s crucial for seniors and their families to plan and consider all associated costs and necessary modifications.

Aging in place offers comfort and familiarity but requires careful planning and resources to ensure safety and well-being. As this trend grows, it’s essential to address these challenges to help more seniors live independently at home.

>>Read the full article on how much it costs to age in place.

>>Discover how technology is helping more seniors age in place.

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Why seniors need an SRES to buy or sell real estate.

Navigating the real estate market can be overwhelming. It’s even more daunting when you’re a senior with entirely different factors to consider from when you were younger.

A designated Senior Real Estate Specialist (SRES®) is trained to manage the needs of older adults and guide them through every step of the real estate process.

Here’s why working with an SRES® like us here at Atlanta Seniors Real Estate makes a significant difference.

  1. Specialized Expertise: SRES® designees undergo special training to address the unique needs and challenges seniors face in real estate transactions.
  2. Customized Solutions: From creating a personalized marketing plan to ensuring your new home meets your current and, importantly, your future needs. A SRES® will tailor the approach to fit your situation and needs.
  3. Financial Guidance: SRES® designees are well-versed in the financial aspects of real estate transactions for seniors, including reverse mortgages, retirement accounts, and more. We’re able to help you make informed decisions that align with your financial goals.
  4. Extensive Network: An SRES® can connect you with trusted professionals in their network, including movers, attorneys, and home inspectors, to provide support throughout the process.

We’re pleased that here In Georgia, SRES Hilary Walker is widely recognized for her expertise and compassion in assisting seniors and their families with real estate transitions. Contact her to ask questions or take the next step towards a smooth and stress-free move.

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How FANS Keeps Georgians Informed About Property Records

Are you a homeowner in Georgia?  Have you heard about scams where fake deeds are used to take over a property?

If so, check out the Filing Activity Notification System (FANS). Developed by the Georgia Superior Court Clerks’ Cooperative Authority (GSCCCA), FANS is a valuable tool that helps residents keep track of important real estate and personal property records.

The GSCCCA was created in 1993 by an act of the Georgia General Assembly. Its focus is on acquiring, developing and distributing record management systems, information, services, supplies and materials that benefit both Superior Court Clerks and the citizens of Georgia. 

How can it help you?

  • FANS allows you to monitor any filings related to your property within the state of Georgia.
  • It’s a free, voluntary program that provides electronic notifications about filing activity.
  • By opting in, you’ll receive alerts whenever something is filed in your name or property address.

Why FANS Matters: Combatting Scams

  • Beware of companies that charge fees to monitor your property—they maybe a scam.
  • FANS empowers citizens to monitor their assets independently, without any cost.
  • It’s one way to stay ahead. If something did happen, you will know before it is too late!

User-Friendly and Flexible

  • FANS accommodates various ways people sign their names or are referred to.
  • You can input multiple names to cover all possibilities.
  • It’s designed to ensure ease of use. When we tested it with our own information, it took approximately 10 minutes (which included reading through their policy information).

Get Started with FANS:

  1. Visit FANS website: https://fans.gsccca.org/
  2. Follow the simple prompts to set up your notifications.

Questions or Concerns about FANS?

  • Reach out to the Georgia Superior Court Clerks’ Cooperative Authority customer support:

Stay informed, protect your property, and enjoy the peace of mind that FANS brings! 🌟🏡

Questions about Atlanta Seniors Real Estate? Contact us here.

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Guide to Selling in 2024

Senior Real Estate

It’s the question we get all the time — “When is the best time of year to sell our house?”

According to a recent report from Realtor.com, sellers eyeing a 2024 sale won’t want to miss out on the upcoming sweet spot in the market — this spring is it. Why?

  • Less Competition
    Expect 40% less inventory compared to pre-pandemic levels, giving sellers a competitive edge.
  • More Interested Buyers
    With 22.8% more buyer views per listing, sellers can anticipate heightened interest in their properties.
  • Quick Sales
    Homes are projected to sell 17% faster during this week, thanks to favorable market conditions.
  • Higher Prices
    Listing prices are $34,000 higher than at the start of 2024, providing sellers with potentially higher returns.
  • Fewer Price Reductions
    With 24.6% fewer homes featuring price reductions, sellers can maintain their asking prices more effectively.

    For sellers looking to capitalize on this opportune moment, preparation is key. Start by considering these essential steps:

    1. Curb Appeal – spruce up the property’s exterior
    2. Professional Guidance – begin discussions with your real estate agent
    3. Price Strategy – your realtor will help you right price your home to sell

    It’s true that many people don’t want to sell because they are worried about higher mortgage rates but this is a great opportunity for seniors who are often looking at downsizing and have flexibility in where they live. They’re not tied to a local school or being close to the office. And many of our clients, are very open to renting.

    >>Read more on this subject from Kiplinger.

    If you or a retired family member is considering selling, contact us to learn how real estate transactions involving seniors are unique and there are different factors to take into consideration. Schedule a consultation with us today.

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    Why people love Silver Summit Condominiums

    Older adults looking to downsize and relocate to be closer to their adult children are finding
    places like Silver Summit Condominiums in Conyers, GA very appealing. Having worked
    within this active adult community since 2017 as the Seniors Real Estate Specialist for retirees, I have a good take on why it’s an excellent housing option.

    1. Purpose-Designed Homes
      Silver Summit homes are thoughtfully designed for aging in place. Everything on one level,
      spacious and open for varying types of mobility, minimum of 2 bedrooms and 2 baths, lots of storage space and a two-car garage for the convenience of getting out of your car and entering your kitchen which most retirees love. The added bonus for most of the units in Silver Summit is the beautiful bright sunroom. Most units have modern features while some could use an upgrade from when most of them were built in 2006/7. There are 8 units that were built in 2018 that feature more update finishings, such as smart-tech for the HVAC controls, alarm system, and appliances. The accessible level counters, roll-in shower and stepless entrances are some of obvious universal design features.
    2. Well maintained Amenities
      Silver Summit offers a range of amenities that cater to an active lifestyle. A welcoming
      clubhouse space for homeowner meetings, socializing and community events. The pool is perfect for relaxation and staying fit or enjoying with the grandkids on their rare visits. There is also an exercise room kitted out with ellipticals, treadmill, weights and mats, ideal for maintaining physical health without having to leave the community. The community is designed around one street in and out, which has become the ideal walking track for some residents.
    3. Low Maintenance Living
      No more weekend chores unless you are tending to your patio plants! The exterior maintenance of homes in Silver Summit is handled by the HOA. No more mowing, painting, or roof repairs. Designed with older adults in mind, these single-story homes prioritize convenience and comfort, all you have to be concerned with is the interior of the home. The HOA fee will cover all exterior features and amenities as well as water, sewer, trash, termite and fire sprinkler maintenance.
    4. Lower Property Taxes
      Property taxes in active adult communities tend to be significantly lower than those in traditional neighborhoods but also due to the homestead exemption that is given to residents who qualify with age and other status that each county offers.
    5. Convenient Location
      The convenience of being able to walk to Shopping & Dining within 5-10 minutes attracts many who live at Silver Summit. A short drive allows for visits to the new Salem Gate shopping complex, or Ga 20 toward Publix and Target or just across the street for Kroger. Everything including clinics, hospital, gas stations and hotels are within easy reach.
    6. Safety and Security
      Active adult communities prioritize safety. Residents can feel secure in a well-maintained
      environment that has a camera monitor for the entrance of the community and sometimes sees our local police showing their presence. The sense of community fosters watchfulness and support among neighbors.
    7. Vibrant Social Life
      Silver Summit residents come together to encouraged socialization through organized trips, classes, and special interest groups. Regular newsletter updates invite all residents to engage and make friends with fellow residents who share similar life stages and interests.
    8. Health and Well-Being
      While there is not specific health care service affiliated to the community, the community’s
      amenities promote physical activity and engagement, and residents share information with each other about services that can benefit their well-being needs.

      Silver Summit Condominiums offer a blend of comfort, community, and
      convenience. Whether you’re a retiree seeking an active lifestyle or an adult child researching options for your parents, Silver Summit is a place to call home.

      Don’t Wait Until Retirement!

      If retirement is on the horizon, consider the benefits of active adult living now. I can’t tell you how many people wished they had made the move earlier. The stories from our clients are endless when it comes to how their lifestyle was enhanced by moving to an active adult
      community.

      For more information, visit the official website or contact Hilary Walker at 678.609.8019 or
      email hilary@atlantaseniorsrealestate.com. You can also use the button below to search for homes. Select Master on Main to narrow the search for active adult and senior living properties. You can contact us to discussion options and receive a unique link for your active adult home search in any area.
    Search Homes Here
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    Your Relocation Checklist

    With years under my belt as a real estate agent, one thing that I know for certain is that moving is exhausting. Clients often feel overwhelmed just thinking about it.

    One of the best tools to help manage those feelings is a checklist. It helps you stay focused and organized.

    Smooth Mooove Senior Relocation Services shared a list with me recently that I’ll paste below. If you need assistance with moving, they’re a great resource and they offer a free estimate.

    The Moooving Checklist

    ☐ First assignment: Decide what to keep, sell, or giveaway.

    ☐ Sort through your belongings: Give heirlooms to children and relatives who have room for them. Create donation bins.

    ☐ Decide whether to move yourself or hire professionals. Make reservations with a moving company or truck rental company.

    ☐ If hiring a mover, call three companies for estimates, ensuring they are licensed, bonded, insured, and DOT registered. Inquire about their employment status (W-2 employees, 1099 contractors, or day labor).

    ☐ Gather packing supplies: Boxes, packing material, tape, felt markers, and scissors.

    ☐ Make travel arrangements if moving a long distance: Airline, hotel, and rental car agency.

    ☐ Save all moving receipts for potential tax deductions. Check the current tax code for requirements.

    ☐ Place legal, medical, financial, and insurance records in a safe and accessible place. Scan documents so you always have a backup.

    ☐ Purchase replacement coverage for valuables to be moved.

    ☐ Have antiques, art pieces, and other valuables appraised for insurance purposes.

    ☐ Begin decluttering: Start with the basement, attic, garage, and other non-used areas.

    ☐ Use up foods and cleaning supplies that cannot be moved.

    ☐ Change your address on USPS.com.

    This checklist is just a start. Companies like Smooth Mooove also provide moving supplies and other resources o just ask about things you’ll need to ensure yours is a smooth one.

    Need other resources as you prepare to relocate? Just reach out to us at Atlanta Seniors Real Estate. We’re happy to help.

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    How technology is helping seniors age in place.

    Studies show that 90 percent of adults over 65 prefer to age in place rather than relocate to a senior living community. The good news is that new technologies are making it easier to support independent living for seniors.

    One effective approach to enhancing livability is by incorporating universal design. It’s creating spaces that are accessible and functional for people of all ages and abilities. By adding features such as grab bars, widened doorways, and non-slip flooring, homes can be made safer and more accommodating for aging residents.

    Technology plays a crucial role in facilitating aging in place. There are four main categories of technology that can help seniors remain in their homes longer:

    1. Communication and Engagement: Tools like video calling platforms and social media can help older adults stay connected with friends and family, reducing feelings of isolation and loneliness.
    2. Health and Wellness: From wearable fitness trackers to remote monitoring devices, technology can support seniors in managing their health and maintaining independence. Medication reminders and telehealth services are also valuable resources.
    3. Learning and Contribution: Online learning platforms and digital volunteering opportunities empower older adults to continue learning and making meaningful contributions to their communities.
    4. Safety and Security: Smart home devices, such as motion-sensor lights and smart locks, enhance home security and provide peace of mind for seniors and caregivers. And devices can contact emergency services when needed.

    For caregivers supporting older adults, technology can streamline caregiving tasks and improve efficiency. From mobile apps for medication management to online resources for caregiver support, there are a variety of tools available to assist caregivers.

    Explore technology that can help with a senior aging at home and, importantly, remain open to the signs that you or a loved one may need to relocate for health and safety reasons. There could be a need for additional care and attention or a living space that is more manageable and designed specifically for aging residents.

    When it’s time to relocate, to sell a home and identify a new residence, reach out to a Senior Real Estate Specialist like Atlanta Seniors Real Estate to help guide you through the process.

    >>Visit www.seniorliving.com to learn more about technology and senior care.

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    Georgia Real Estate Scam Warning

    Stealing your property without your knowledge.

    Georgia counties are warning property owners of real estate fraud. People are using forged documents and signatures to transfer the title of a home or other property without the owner’s approval. Worst of all, many property owners may have no idea their property has been stolen.

    Gwinnett County warns of an incident where a resident had issues paying property taxes because the property had, without her knowledge, been transferred to another person. (Read more about the case here)

    The fraudsters are using quitclaim deeds which were designed to be a way to transfer ownership between trusted individuals such as family members.

    So, how do you check your own property? I recommend you first conduct a title search. You can also enroll in the Georgia Superior Court Clerks Filing Activity Information System. That will notify you if there is activity on your property such as a change to the deed, mortgage, or a lien is filed on the property.

    A Georgia state legislator has filed a bill (House Bill 888 – the Georgia Not On My Deed Act) which would authorize Superior Court Clerks to require ID for anyone recording property deeds.

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    How to Prep Your Home for Selling

    10 Things to do before you put the “for sale” sign in your yard.

    Senior Real Estate

    One of the first questions I get from clients is how to prepare their home to go on the market? It’s a topic that can overwhelm a homeowner who is making a real life change.

    Here are ten quick tips I give clients to give them the best chance of getting top dollar for their home.

    1. Declutter and Depersonalize: Declutter and depersonalize the house. Remove personal items (yes, all the family photos), excessive furniture, and unnecessary belongings. A clean and clutter-free space helps the buyer see themselves in the home.
    2. Deep Clean: A clean home is a marketable home. It shows the homeowner cares about home maintenance. Clean vents, fans, baseboards, windows and carpets. If you can’t do it yourself, it’s worth bringing someone in for a cleaning before we start showing the home to buyers.
    3. Make Necessary Repairs: Address issues that might deter potential buyers such as leaky faucets, squeaky doors, and holes in the wall.
    4. Refresh Paint and Finishes: A fresh coat of paint can work wonders in revitalizing your home’s appearance. Stick to neutral colors to appeal to a broader range of buyers and touch up areas that may have chipped paint.
    5. Enhance Curb Appeal: First impressions matter. Spruce up your home’s exterior by landscaping, mowing the lawn, and adding potted plants or flowers. Ensure that the front door and exterior are in top-notch condition to create a welcoming entryway.
    6. Stage Your Home: Arrange furniture to showcase the flow of each space and create a warm, inviting atmosphere. I often recommend a stager if that is what is needed to sell your home more quickly and at a higher price.
    7. Set the Right Price: I’ll research comparable home sales in the area to determine a competitive and realistic asking price. Overpricing your home can discourage potential buyers, while underpricing might leave money on the table.
    8. Create an Online Presence: I will also ensure my client’s home is advertised online and that there are photos to draw in prospective buyers.
    9. Gather Necessary Documents: Streamline the closing process by gathering important documents in advance. This includes property records, warranty information, and any relevant paperwork on recent improvements or repairs.
    10. Be Flexible and Open to Feedback: It’s also important that sellers be flexible with showings and listen to buyer feedback. Being adaptable can speed up the sale process.

    I remind sellers it’s important to detach from the home they’re selling and focus on what’s next for them. It’s tough especially for families who have lived in a home for decades, but it helps the process go more smoothly.

    Have questions about selling your home and looking for your next one? Reach out to us at Atlanta Seniors Real Estate – we’re here to help.

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    Top 5 Homebuyer Turnoffs

    When my clients are considering selling their home and we want to get top dollar, I really encourage them to take a look from a purchaser perspective. Being aware of what things turn off a buyer is essential.

    Opendoor did some research and found the top turnoffs for buyers. If you’re thinking about making any improvements this year and know you’ll be selling at some point in the future, this can be quite helpful.

    1. 54%: Outdated bathrooms
      Think outdated tile, cabinets and countertops. Consider new light fixtures and fresh paint to make the bathroom look bright and clean.
    2. 49%: Old carpet
      Old carpet can be overwhelming and distract from other features in the home. If you can’t afford to replace it, ensure it is clean and stains are treated.
    3. 41%: Outdated kitchen features (countertops, cabinets etc.)
      It’s generally the most used room in the house so it needs to function well. Cabinets can be painted but explore replacing outdated countertops and backsplash.
    4. 32%: Textured ceilings
      It can be costly to have them scraped and painted but some homeowners can do it themselves. Either way, that clean, flat ceiling can make a big impact on a room.
    5. 30%: Outdated appliances
      Old appliances need to go but if you can’t replace them, ensure they’re clean and working. Some sellers are able to turn a quirky, vintage appliance into a selling feature perhaps in a midcentury modern home but it’s rare.

    Also, pay attention to curb appeal. The appearance of your home’s exterior sets the tone for what the buyer will find inside. They’ll start calculating at the curb what they’ll need to spend to make the home livable for them.

    >>Read the full article from Opendoor here and if you’re interested in discussing a home sale or purchase, we’d love to speak with you. Click here to contact us.

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    2024 Changes Affecting Senior’s Finances

    When families come to Atlanta Seniors Real Estate to discuss selling a home, buying a new home, or searching for a senior living or retirement community, one of the first discussions we have is about finances. That conversation will help guide decisions and illuminate the choices they have.

    2024 has brought with it financial changes that retirees will want to be aware of — changes in Medicare, Social Security, taxes, retirement plan contributions and more.

    AARP looks at some of the changes in a recent article which looks at the points below.

    1. Social Security – The cost-of-living adjustment will raise monthly payments by 3.2% and the average retirement benefit will climb nearly $60 a month. (read more about Social Security changes here)
    2. Medicare – Standard premiums for Medicare Part B are seeing a 6% increase to $174.70 a month and the annual deductible climbs to $240. (read more about Medicare changes here)
    3. Retirement Plans – The contribution limit went up $500 so seniors can now put up to $8,000 into an IRA for 2024 including a $1,000 catch-up contribution.
    4. Required Minimum Distributions – It used to be that Roth IRAs were not subject to the required yearly withdrawals while the owner is alive but now that exception will also apply to Roth 401(k) and 403(b) accounts. The age for RMDs went up to 73 last year.
    5. Standard Tax Deductions – If you or your spouse is 65 or older, he deduction for a single filer or head of household is up $1,000 from 2022 and up $200 for couples filing jointly.
    6. Full Retirement Age – The Social Security full retirement age has been gradually increasing and will reach 66 and 8 months later this year.

    >>Click here to read the article in its entirety on AARP.org.

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    When do I get paid for the sale of my house?

    Once a home sale is imminent, I’m always asked — “How soon will the money be in my bank account?” It sounds like an easy enough question, but there’s not always an easy answer.

    The answer depends on several factors — not too surprising as a real estate transaction can be a complex process. A recent article on Realtor.com looked at the money from offer to closing and when a home seller can expect those transfers into their bank account.

    1. Earnest Money – Generally between 1-5% of the purchase price paid within 3 days of signing the purchase contract to demonstrate that the buyer is serious about the property. Some refer to it as a “good faith deposit.” If the buyer backs out and breaks the contract (and the seller is not at fault) the seller gets to keep the earnest money.
    2. Down Payment – A down payment shows the bank or lender that the buyer has the money to pay back the loan they’re getting and is made after the deal is approved by the bank.
    3. Wait – The lender will likely have a list of obligations to be met at this point — things like an appraisal, inspection, repairs, disclosures, contingencies and more. The contract will outline when these will take place. On average, the closing process takes 50 days.
    4. Closing Day – This is when the buyer gets the money. After the real estate transaction is closed and all fees/commissions are paid, escrow pays the seller. These days, that’s a wire transfer and happens quickly.

    My best advice is to be patient and take it step by step. If you have any questions, reach out to Atlanta Seniors Real Estate. We’re happy to help.

    >>Click here to read the full article on Realtor.com.

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    Tips for Preparing Your Home for Storm Season

    Preparing your home for storm season in Georgia is essential to protect your property and keep your family safe. We’re prone to weather-related hazards such as tornadoes, severe thunderstorms, and flash flooding.

    Here’s a helpful guide on how to prepare your home for storm season:

    1. Your Family Emergency Plan
    Create an emergency plan that includes a designated meeting place, contact information for family members, and an evacuation plan if necessary.

    2. Assemble an Emergency Kit
    Prepare an emergency kit with essential supplies, including non-perishable food, water, flashlights, batteries, a first-aid kit, blankets, and important documents. Keep the kit in an easy to access location.

    3. Secure Outdoor Items
    Store or secure outdoor furniture, grills, table umbrellas and other loose items that strong winds could turn into projectiles. Trim trees and branches to minimize the risk of falling limbs during storms.

    4. Check Your Roof and Gutters
    Inspect your roof for damaged or missing shingles and repair them. Clean out gutters and downspouts to ensure proper drainage and prevent water damage.

    5. Weatherproof Doors and Windows
    Refresh weatherproofing to ensure it will keep the cold out.

    6. Ensure Proper Drainage
    Check your property’s drainage systems, including storm drains and sump pumps, and clear any blockages. Install gutter extensions to direct rainwater away from your foundation.

    7. Waterproof Your Basement
    If you have a basement, consider waterproofing it to prevent flooding during heavy rainfall. Some homeowners use a battery-operated sump pump as a backup.

    8. Install a Generator
    Consider installing a backup generator to ensure you have power during extended outages. Test the generator regularly and keep an adequate supply of fuel.

    9. Secure Important Documents
    Safeguard important documents like insurance policies, identification, and property deeds in waterproof containers or digitally store them in the cloud. Create digital copies of vital documents and store them securely.

    10. Reinforce Garage Doors
    Strengthen your garage doors to prevent them from buckling during strong winds. You can look into a garage door bracing system.

    11. Stock Up on Supplies
    Maintain a supply of non-perishable food, bottled water, and other essentials to sustain your family for several days. Keep a battery-operated or hand-crank weather radio for updates.

    12. Keep Emergency Contacts Handy
    Have a list of emergency contacts, including local authorities, utility companies, and neighbors, readily accessible.

    13. Invest in Flood Insurance
    Depending on your location, consider purchasing flood insurance to protect against water damage, as standard homeowner’s insurance often doesn’t cover floods.

    14. Stay Informed
    Stay informed about weather forecasts and warnings from trusted sources such as the National Weather Service. Sign up for emergency alerts from local authorities or media outlets.

    15. Evacuation Plan
    If you live in a flood-prone area or a designated evacuation zone, have a plan for evacuation, including knowing the nearest shelters and routes to safety.

    Preparing your home for storm season in Georgia requires foresight and planning. Preparation helps protect you and your property. Stay vigilant, stay safe, and be ready to respond effectively to whatever Mother Nature sends your way.

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    Preparing Your Home for the New Year

    As the year draws to a close, it’s time to take stock of your home and ensure that everything is in order for the coming year. Here’s a homeowner’s checklist to help you wrap up the year on a high note and start the new year with peace of mind.

    1. Review Mortgage and Insurance Policies
      Check your mortgage statement for any discrepancies or changes in interest rates. Review your homeowner’s insurance policy to make sure it adequately covers your property and possessions.
    2. Evaluate Energy Efficiency
      Consider scheduling an energy audit to identify areas where you can improve energy efficiency. Replace furnace filters and clean out air ducts to ensure your heating system runs efficiently during the winter.
    3. Perform a Safety Check
      Test smoke detectors and carbon monoxide detectors. Replace batteries as needed. Check fire extinguishers to ensure they are in good working condition. Inspect your home for potential fire hazards, such as faulty wiring or overloaded electrical outlets.
    4. Winterize Your Home
      Insulate doors and windows with weatherstripping to keep warm air in and cold air out. Drain and disconnect garden hoses and shut off exterior faucets to prevent freezing. Have your chimney cleaned and inspected if you have a fireplace.
    5. Check for Water Leaks
      Inspect faucets, toilets, and pipes for any leaks. Address them promptly to prevent water damage. Consider insulating exposed pipes to prevent freezing in colder climates.
    6. Clean and Declutter
      Go through each room and declutter by donating or disposing of items you no longer need. Deep clean carpets, upholstery, and drapes. Vacuum refrigerator coils to improve energy efficiency.
    7. Update Home Security
      Test your home security system, including doorbell cameras and motion sensors. Update or change door locks and security codes if necessary.
    8. Prepare for Tax Season
      Organize and file any home-related documents, such as receipts for home improvements or property tax statements. Consult with a tax professional about potential deductions related to homeownership.
    9. Review Home Maintenance Records
      Go through your home maintenance records to ensure you’re up to date on routine tasks like HVAC servicing, roof inspections, and gutter cleaning.
    10. Plan for 2024
      Set home improvement goals and create a budget for projects you’d like to tackle in the coming year. Consider scheduling a professional home inspection to identify any potential issues before they become costly problems.
    11. Save for Future Repairs
      Start or contribute to an emergency fund specifically for home repairs and maintenance.
    12. Reflect on Homeownership Goals
      Reflect on your homeownership goals and consider consulting with a real estate agent to discuss your long-term real estate plans.

    By completing this end-of-year checklist, you’ll be well-prepared to welcome the new year with a well-maintained and efficient home. It’s a great way to ensure that your investment continues to provide comfort and security for you and your family. Here’s to a happy and prosperous new year in your beloved home!

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    How do you know when it’s time to downsize and relocate?

    Part of being a Senior Real Estate Specialist (SRES) is taking the time to truly understand a family’s needs before putting a plan in place. It’s so much more than just buying or selling a home – it’s considering whether the time is right to downsize and relocate to a smaller space. This process involves considering various factors related to a senior’s physical, emotional, and financial well-being.

    Here are 12 signs and considerations to help determine if it’s time to downsize that I often share with my clients:

    1. Physical Ability: If daily tasks become challenging due to mobility issues, health concerns, or the size of their current home, downsizing to a more manageable space might be beneficial.
    2. Maintenance and Upkeep: If the current home requires a lot of maintenance and upkeep that is becoming burdensome, downsizing to a smaller place with lower maintenance demands can be a wise choice.
    3. Financial Considerations: Evaluate if the cost of maintaining the current home (property taxes, utilities, repairs) is straining finances. Downsizing can help reduce monthly expenses.
    4. Emotional Well-being: If the senior is feeling isolated or overwhelmed in a large house, moving to a smaller, more social environment (such as a retirement community) could improve their emotional well-being.
    5. Safety Concerns: If the current home poses safety hazards (stairs, slippery floors, difficult-to-navigate spaces), moving to a safer, more accessible living situation might be necessary.
    6. Proximity to Family and Medical Care: Consider the proximity to family members, medical facilities, and services. Moving closer to these resources can provide peace of mind.
    7. Unused Space: If a significant portion of the current home is unused or underutilized, downsizing can help avoid wasting space.
    8. Future Planning: Think about the long-term needs of the senior loved one. A downsized home might be easier to manage as they age, and it could also be more suitable if they require assistance or care.
    9. Desire for a Lifestyle Change: Some seniors want to downsize to simplify their lives, reduce stress, and enjoy retirement without the responsibilities of a larger home.
    10. Sentimental Attachment: While emotional attachment to a home is valid, it’s important to consider whether sentimental value outweighs the practical benefits of downsizing.
    11. Decluttering: Downsizing often requires decluttering and letting go of possessions. If the senior citizen is open to this process, it can lead to a lighter, more organized lifestyle.
    12. Legal and Financial Considerations: Consult legal and financial experts to understand the implications of downsizing, such as selling a home, dealing with property taxes, and managing any inheritance or estate matters.

    Ultimately, the decision to downsize should be based on a combination of these factors, the individual’s preferences, and their unique circumstances. Involve the senior in the decision-making process and seek input from family members, friends, and professionals who can provide valuable insights and support.

    If you have questions or would like to discuss the process of exploring whether it’s time to downsize and relocate and how to get started, contact Atlanta Seniors Real Estate any time.