One of my favorite clients named Shirley, had a choice to make. Following the death of her husband, she realized the house with all its memories and history could no longer be part of her future. The straw that broke the camel’s back, however, was the $400 she paid someone to rake and remove the leaves. She was vulnerable at the time and is still troubled by the transaction.

Shirley was faced with a dilemma that so many of my senior clients have to deal with. A sudden change in the form of health problems, loss of spouse, financial issues are just some of the complicating factors that enter our lives. Immediate action is required, but so many procrastinate and wait too long, until the problem dictates the coarse of action, many time with the children making critical life decisions.

Shirley made the decision to downsize and move. She currently lives in a 970 sq. ft. senior apartment close to her church, where she attends services, and close to her doctor and dentist. It has two bedrooms, two baths, living and dining rooms, kitchen, convenient laundry equipment and space for the mini van. The facility offers reasonably priced meals if desired, shopping trips, tours and many planned activities. She’s made friends and has become a helpful shopping companion to several women who are unable to get out without assistance.

Deciding to move was a piece of cake for Shirley and she obligingly offers suggestions to others considering relocation. First she says, take an inventory of each room’s contents. Next, invite the family members to take whatever they desire. Then hold a rummage sale and donate to charity anything in good condition but not sold. Contact a consignment center to sell any equipment of value and dump everything else. Finally, don’t look back, just move! You’ll never miss the stuff you didn’t take with you.

It worked for her but she does confess she’s not quite settled yet. Shirley is still deciding what to do with her bell collection and her husband’s camera, coin and stamp collections.

‘I’m in no hurry,’ she chuckles. ‘It’s a work in progress.’

Shirley took charge of her life, and made the decision to get the most out of the life she has been blessed with. You too should assess your situation, and know that there are excellent alternatives that can lead to an improved lifestyle with less worry about maintenance, security, and health related issues.

Timing is everything! Real estate is no exception, especially when moving to a senior community or apartment. In this year of uncertainty, many of my clients have asked me if they should postpone their move and wait to sell their home until the market picks up. My answer of course depends on their individual circumstances, but in most cases I’ve advised them to go ahead with the move and make sure they plan ahead to take advantage of market cycles. Traditionally the spring and fall markets are the most prolific sales periods of every year and I’m sure this year will follow the same pattern. Buyers tend to get cabin fever during the winter months, and plan to move from their apartments or houses in the months of March-June. They want to be in their new home for the summer and settled in the school system for their children. We then have a slow down in July and August, with activity increasing in September and October once the kids are back in school. The law of supply and demand tells us to sell when there are more potential buyers to attract the best possible price for our homes.

Using the timing just discussed, you would want to plan your move in date to time the real estate market. If you are intending to sell in spring, May-June would be an excellent time to have occupancy in your new home. Then you could put your home on the market in the busier months and know that you can move to your new community within the buyer’s time frame. Most buyers want to close the transaction within 30-45 days from the accepted offer date. We as Realtors can work out an overlap occupancy where you can stay in your home up to 60 days after closing, and pay a daily occupancy charge (usually 1/30th of the buyer’s monthly payment). If you are timing the move for fall, you could have a move in date of October or November so you could sell in the busier months of September and October.

It is important to know that we don’t have a crystal ball as to what real estate prices will do. They are currently moving slightly lower and we do not know when this trend will end. Therefore, waiting may only lesson the amount of equity you will have in your home. You also don’t want to risk waiting for a health change to determine your move because you will then be at the mercy of a quick and chaotic move with your children involved in worst case scenario. You can also take advantage of the lower stock prices and use your equity to leverage your stock positions with the funds your receive from your home sale. Another positive factor currently is the lowered cost of funds relating to lower mortgage rates. This will probably be a boost to this year’s real estate sales activity.

There is a saying, “you will never leave where you are until you decide where you want to be!” This is true for many aspects of your life. So if you know it’s time to make that move, have faith that all will work out and go with your instincts rather than fear and procrastination. You will be happy you made the move and probably ask yourself why you didn’t make the move sooner!

I received a frantic call yesterday from a lovely 85 year young lady who was in desperate need of advice. She had been living in her home for that last 40 years. When she had moved in, her knees were working well and her eye sight was 20/20. She drove at night and had the home in tip-top shape. As the years went on her husband passed away and she was the captain in charge of the ship. She took over duties such as paying the bills and making sure the maintenance of the home was up to the moment, as they had always took pride in the condition both structurally and mechanically.

Over the last 10 years her body started to experience difficulties in her ability to navigate the stairs as her knees began to show signs of arthritis. She became less confident when driving at night. She became more anxious about security, as many of her trusted neighbors had moved on. What hurt the most is that many of her friends had (more…)