All too often I hear the phrase, “I live in my home for free so why would I want to move to a senior community or apartment!”

This statement could not be farther from the truth! We all dream about the day we make our last payment on our mortgage and then we truly own our home and owe the bank nothing. When that day comes we are ready to fully enjoy our retirement and coast to our last days. However, as the home ages, cost to live in our homes accelerates. There are other costs we must pay to live securely in our homes.

Based on a 200,000 home, here are typical costs which vary by location:

                                                   Per Month

Maintenance: (Most economists use a factor of 3%)  $500
Homeowner’s Insurance                              $50
Property Taxes (vary by community)                 $400
Utilities (gas, electric, telephone)               $150
Water/Sewer (vary by community)                    $75
Sanitation (garbage pickup)                        $10
Loss of Investment (3.25% per year)                $541
If $200,000 were invested today                    ------
Total Monthly Expense Each Month                   $1,726

If you think you live in your home for free, click here to see the true cost of living in your home

There are also other considerations as to the true cost to live in your home. If prices fall due to the aging of your home or the economy, your home asset is actually shrinking.

Of course, there are the reasons moving may enhance one’s quality of life by living in a safe and secure environment which matches current physical and psychological needs.

So, be realistic about the costs of living in your home. You do not live in your home for free, and a move to safety and security may cost less than you think!

Please call if you need a market update as to the current value of your property. Knowing the current value of your home in today’s market is critical to understanding the true value of living in your home. You can call anytime to schedule an appointment at 262-242-6177.

All the best,

Bruce Nemovitz  CRS, CSA, ABR, SRES

Times are changing and moving faster than I’ve seen in my 32 year career as a Realtor. There is an ebb and flow to the real estate market. It almost has its own pulse and mood swings. To be sure, one must be an observer to understand the market’s character and depth of soul.

I know this sounds like you and me. It sounds like the real estate market has a body and soul. It sounds like someone you might know. If you think about it long enough, any market is made up of one main ingredient…us!

To understand real estate is to understand the human psyche, because the market is made up of people who collectively move prices, commodities, and in the end the fears, hopes and desires of those who enter into it. If fear and uncertainty are dominant, prices may move quickly in either direction. When times are more predictable, prices stay more stable. Where is the real estate market today, and where is it headed?

First it pays to listen and listen with both ears! Listen to your neighbors, friends and family when talking about purchasing their first home, selling their long time home, or their plans to hold off or move forward. Listen to the Read the rest of this entry »

Just Say “Yes”!

When it comes to downsizing and moving, you do not want to attempt this process on your own! Each generation owns their own unique characteristics. “The Greatest Generation”, folks currently in their late 70’s-90 years of age, have been fiercely independent which makes them a group for all of us to emulate. “I’ll do it myself” has been their mantra throughout their lives. I find that this has worked well for them in the past, but when it comes to making a move from a long time home to a senior community, this can make the moving process difficult and sometimes impossible.

“I don’t want to bother my children, they have enough to do”. I’ve heard this so often and know that it is a noble intention on the older adult’s part, but trying to go it alone is a recipe for disaster in many cases. The best results occur when a dialogue is opened from the parent to the child and collaboration occurs from that open conversation. Together, the family can work together and decide what the family can do and what needs to be outsourced.

The good news is that there Read the rest of this entry »

I Can’t Sell My House!!

“I can’t sell my house.” I have heard this from so many seniors in the last two years. The majority of folks who truly believe that a successful sale cannot be achieved have never actually put their home on the market! I have always said it is not what people do but why they do it. It is the “why” behind the action that must be examined.

No matter what the market conditions, homes will sell. They sold in the 80’s when interest rates were up to 17% and they sold last year after the economic tsunami. The only factor that changes with each market is the price of the home. Prices have fallen, but only 10% in some areas, and 15-20% in other areas. The right way to look at your home investment is to remember what you paid when you purchased your home and what it is worth today. Those homeowners who have lived in their homes for thirty to fifty years have seen their properties increase, in many cases, by ten times. So, why then are so many people focused on the 10-20% drop in prices over the last five years, and why are they ignoring the ten-fold increase from purchase to current prices?

I believe it is because Read the rest of this entry »

A once in a lifetime opportunity has arrived and is available to all who are ready to take advantage of a new government stimulus. The Federal Government Tax Credit Stimulus offers first time buyers an $8,000 tax credit and owners of existing homes a $6,500 tax credit. Here’s the catch: the transaction must be settled by April 30, 2010, with a closing by July 1, 2010. This means that instead of April and May being the best months for selling, the greatest number of buyers will likely be looking for homes in February and March. Click here to download the program details

If you have been on the fence and waiting for that perfect time to sell, the next few months will be critical! But when exactly should you start the process? I have put together a timeline for success. By following this simple guide, you can successfully sell and move with results you could have only dreamed of!

Your Success Timeline

Early January

Call me for a free personalized market estimate as well as a game plan for preparing the home for market. I
will explain how you can take advantage of this unique real estate opportunity, and offer suggestions as to any contractors or inspections needed.

Mid-January

Visit the senior community of your choice. Meet with the Read the rest of this entry »