FROM RISMEDIA – 4 IMPORTANT TIPS TO KEEP IN MIND WHEN SEEKING SENIOR HOUSING

February 25, 2011 by Leave a Comment

RISMEDIA – People are living longer today. The century-long expansion in the world’s population that is 65 and older is the product of dramatic advances in medical science and health lifestyles. Currently, 13% of the U.S. population is 65 and older, up from 4% in 1900. As Baby Boomers turn 65 in high and higher annual numbers, it is estimated that one in five Americans will be over age 65 and about 5% over 85. All this calls for growing care and services for the elderly population and pre-planning for lifestyles in the future.

The senior housing industry has been growing dramatically over the last 15 years as many adult children, especially daughters who have usually been the main caregiver for aging parents, are now in the workforce and unable to provide the attention to their parents’ needs, whether physical or social.

There are a number of things to be considered when choosing lifestyle alternatives.

-Location. Keeping your parents close to home should not be the number one consideration. Although it is important that the community be convenient for family and friends to visit, being close to amenities they need and trust will make their senior living experience rewarding and more fulfilling.

-Type of community. Visiting to make sure the current residents have similar interests, backgrounds and values will allow for a more enriching life in the golden years. Many communities invite prospective residents to tour their community and enjoy lunch with the community which is a wonderful way to ascertain if the culture is a fit. Many communities offer a weekend stay to experience more fully what the community has to offer.

-Staff. Is the staff appropriately dressed, personable and outgoing? Do the staff members treat each other in a professional manner? Does the staff call residents by name and interact warmly? The answers to these questions will determine quite a bit toward whether the community is right for your loved one.

-Medical needs. Does the community have on site medical supervision? If not, is there an agency that is associated with the community that can help when needed?

Maggie Finegan, ABR, Move with Maggie Team Chicago

Copyright © 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Filed Under: For Buyers, For Realty Professionals, For Sellers, General Information, Senior Housing, Tips

SELLING THE FAMILY HOME… A THOUGHTFUL PROCESS PART 2

February 12, 2011 by Leave a Comment

Are you or a family member planning to sell the family home?  It can be a confusing and complex process, especially in today’s market.    

The home sale process is best approached with an organized plan and schedule. An experienced realtor can work with you to create a plan and timetable.

Here are another key question to consider.

Do we need to make repairs and updates in order to sell?  How far should we take this?

In many cases, a thinning out of clutter, organizing, carpet cleaning and fresh paint will go a long way toward making the home attractive to buyers, thus increasing value.  According to the National Association of Realtors, painting provides the best return on investment that you can make in a home.  In addition, basic repairs are called for when there are items that are broken in the home. For in many cases, in today’s market the future buyer’s lender will require that the home be in safe, move in condition in order to provide a new mortgage.

Who can help us prepare the home for sale?

If the elder is still in the home, a team of sensitive service people is important.  Carpet cleaners, painters and in some cases, professional organizers, packers and stagers can be valuable resource.

If the home is vacant and the family doesn’t live close by, having a realtor with a network of trusted service providers is important.    Our Directory of Services includes the names of service people recommended by clients in the past.

What if the home doesn’t sell?

Accurate pricing, and adequate preparation of the home, skilled marketing and negotiations are key to achieving a sale.  However, if the home does not sell, in some cases the family may consider putting the home up for rent.  Most realtors can handle the rental of your property.

How Do We Get Started?

Call the Move with Maggie Team.  As an experienced realtor we have  a network of service people can help you pricing the home, prepare it for sale, and present it to the market in a way that will cause it to sell.

Maggie Finegan, ABR, Move with Maggie Chicago Real Estate Team

Filed Under: Architecture, For Realty Professionals, For Sellers, General Information, Senior Housing

SELLING THE FAMILY HOME… A THOUGHTFUL PROCESS PART 1

February 11, 2011 by Leave a Comment

Are you or a family member planning to sell the family home?  It can be a confusing and complex process, especially in today’s market.

The home sale process is best approached with an organized plan and schedule. An experienced realtor can work with you to create a plan and timetable.  

Here are some key questions to consider.

What are my goals in the sale of the home?    

Timing:  How soon does the home need to be sold in order to your goals?    In some cases, a quick sale is desirable to help fund a move to a senior living center.  In other cases, the senior is already relocated and the family desires to sell for the highest price.

Finances:  Are there mortgage loans, home equity lines, or reverse mortgages that need to be settled in order to close the sale? Are you dependent upon proceeds from the home sale to pay off the loans.

How best can I determine the value of the home in this market?

Determining value is an art. An experienced realtor will prepare a Comparative Market Analysis, based on a study of recent sales in the area. The analysis takes into account the location, size, features and amenities of the home and compares them to recent sales in your neighborhood.    

Have your realtor  review the Analysis with you, to help you decide on a price that will cause the home to sell, rather than one that causes it to sit on the market month after month.  In the current market, accurate pricing is very important. Overpricing from the beginning can result in chasing the market downhill.

Maggie Finegan, ABR, Move with Maggie Chicago Real Estate Team

Filed Under: Architecture, For Realty Professionals, For Sellers, General Information, Real Estate Market, Senior Housing