Senior Downsizing, Real Estate and Personal Property

 

Sorting through and parting with personal items and your real estate is one of the most stressful periods our senior population will endure.  Death of a loved one, divorce and terminal illness might top the chart, but the thought of a major change in living conditions ranks pretty high up the charts.

 

There may come a time when this move is inevitable for many of us.   I recently downsized and moved to a Heritage Harbour, a retirement community and I am young. It was hard. You have to think about what to keep, what to give away, what to sell and most of all what you will want versus what you will need.  You first have to accept the fact that the change you are making is necessary and like all major decisions in your life, there are positives and negatives.  To come to the ultimate conclusion there is usually sacrifice while at the same time understanding that this is the right course of action.

 

Downsizing when you are older is a mindset, as much or more than it is a physical change in the way you live.  Just look around your house. If you had to move to living quarters half the size of your current home, where would you start?  Something has to go, but what, when, to whom and how do you feel about it?  How about your favorite tree, a bush you planted 15 years ago with your husband that’s too big to move?  Its not trivial and it cannot be taken lightly, but the transition needs to be put in perspective.  To make it really clear and help you through it, elicit the help of professionals to create a plan.

The plan is a blueprint for the life change you are about to undergo.  It can and should be very detailed.  I wish I had some professionals or at the very least a friendly but impartial person to guide me through.  I went the hard way, sorting things three and four times until I talked myself into parting with certain things that had been in my family for some time.  The kids didn’t have room and or didn’t want the items and I wasn’t going to store them for eternity.

 

The planning process should begin months before you move.  If you change your mind, you at least started a blueprint for a later date and the planning may help you accept the eventual change.

 

I suggest starting with the biggest asset and in many cases the more challenging item you will part with, your home.  In most cases, your home is also the largest monetary asset you have. You need therefore to

understand it’s value, what needs to be done to prepare it to sell, what to expect during the selling process and how long it will take from preparation to completed sale.  Start with me.  I’ve been there and I’ve done it and I understand your concerns.  I’ll start by helping you establish timelines for your move and helping you understand the process and timelines involved.  I can also refer you to movers who specialize in moving senior adults and understand the planning involved.  I can assist you with finding qualified professionals who will set up a plan and execute the liquidation of some of your personal property, and others who will help you sort, pack and move.

 

I am a realtor, yes, but I also care and have a deep understanding of all the pieces involved in a life-changing move.

 

Start your relocation discussion today and feel relieved once you are resettled.

 

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Real Estate Auctions…Can sell your home fast!

I am partial to auctions because I love conducting auctions. Over the past 30 years I’ve sold cars,houses,trustee properties, personal property and done many many charity auctions. Auctions create energy, energy spreads and people will buy. Sometimes they pay more than an item is worth because of all the positive and competitive energy. Sometimes, I’ve sold items at unbelievable discounts. Success of auctions depend on the crowd and the perceived value of the item offered for sale.

In many parts of the country, auction marketing is a very traditional way of selling real estate. The auction method of marketing is on the rise. It’s not for everyone or every situation, however, it certainly is a good choice for many sellers depending on their personal situation. It’s also a great way to liquidate the property within the home rather than having a yard sale or dealing with an “estate sale” professional. You can sell the personal property if your downsizing and sell the house the same day. Remember, you are the seller so you have complete control over the outcome.

According to the National Association of Realtors, there are several factors that determine what homes might be suited for auction sale. First and foremost, you must have equity and room to move on the price if necessary. That makes sense doesn’t it.  If your house has been on the market for months and your getting no showings because it’s over priced an auction won’t work.  If on the other hand you have a very unique property, you need to get it sold and you understand the marketing process, then it might be the way to get this one sold.

Right now, in many areas we are facing a shortage of inventory of suitable homes. An auction generates energy and activity, it may be the perfect climate to attempt an auction sale.  It can stay on the multiple listing services website during the auction period.  You can lower the price during the auction period to an opening bid price.  This isn’t the sales price, it’s just a starting point and it’s usually much lower than the current list price.  This one move will generate additional interest in your home. The brokers phone starts ringing, “whats the deal”, “how does this work”, ” when can I preview the house for auction?”, “Can I make an offer before the sale date?”  These are things people want to know.  And the answer is yes.

A well planned auction begins 30 days prior to the offer date. The property should be advertised in print media and the multiple listing service should be fully utilized to further enhance the marketing of your home. The house should be held open at least twice for viewings and question and answer periods for prospects. The terms of the sale, usually, “as is where is” with no right to cancel and a non refundable deposit should be collected.

Look guys, this is not for every house or everyone selling a house but the Auction method of selling is popular in many areas of the country and is a growing segment of the market.

If you think selling your home at auction is an interesting marketing alternative, call me today. I am more than happy to discuss your particular situation.

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Crofton Homes For Sale

For Sale Crofton

1808 Roxboro Place

Crofton, MD 21114

Fantastic Crofton Rancher with Basement For Sale $475,000.00

Perfect setting for this large Ranch home with a basement for sale in Crofton today.  Large Family room addition, 3 BR, 2.5 baths, Fireplace, Garage, partially fenced cul-de-sac lot. New roof in past few weeks. This is an unusual home, few this large (2532 sq. feet) were built in Crofton and very few with basements.

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Severna Park Waterfront For Sale

Remodeled Waterfront with separate 2 BR remodeled cottage.

Perfection!

Severna Park Waterfront home with

Separate 2 BR remodeled Cottage

989,000

You must see the virtual tour with all photos and information, then contact me to buy this splended waterfront home.

There is waterfront and then there is perfection. You don’t have to do a thing to move into this beauty. Fully remodeled by current owner with the intention on staying. Beautiful finishes throughout with attention to all the details.  This Severna Park Waterfront has great views of Cattail Creek and beyond.

 

View the Tour

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Things to consider before you buy a home.

5 Things You Need To Know Before Buying A Home

You might be an impulse buyer, but when it comes to buying a home, you’ll need to fight your impulses and make the best investment. Buying a home can be extremely exciting, but it can also be very scary if you don’t know everything you need to know before you start the process. While you will learn new information as you go, there are things you’ll need to know before you start calling real estate agents and setting up an appointment to look at a house. Here are 5 things you must know before you place an offer on any home, no matter how perfect it may be.
Know Your Budget
You probably have an idea of how much you’re willing to pay for a home, but do you know how much the lenders think that you can afford to pay? Lenders use very strict equations to calculate how much a borrower can afford to pay based on their debt and their income. Make sure you apply for pre-approvals, see how much the banks are really willing to lend to you, and stay within this price range when you’re viewing properties.
Know the Demand
If you’ve been viewing Cincinnati real estate and you found a property that has potential, knowing how long the house has been on the market can be very helpful. If demand is low and the property has been sitting stale without interest, you have the power to make a lower offer that will seriously be considered. On the other hand, if the house has been on the market for just days, you’ll need to come in with a stronger offer to compete with others.
Know About Real Estate Trends in the Neighborhood
Recent sales data in a neighborhood will speak volumes about its reputation. When your buying a home, you should be prepared to compare the sales prices in the neighborhood to the list price of the home you’re interested in. This will give you bargaining power and may even help you get concessions that other sellers in the community have offered to close a deal.
Know About the Home’s Condition
You should never purchase a home without first having it inspected. Most lenders require you to get an inspection after an offer is made and before you close, but get one even if it’s not a requirement. Find out if there are hidden issues, how much repairs might cost you, and even get the power to make counter offers to have the seller remedy the problem before you take ownership. If you don’t know problems exist, the transaction may become a major headache.
Know How Much Improvements Will Cost
Your dream home might not be perfect when you buy it, but it will be once you are done with improvements. If you’re willing to buy a home that you need to improve, you need to price the cost of all of the improvements before you buy. The cost of renovations can quickly add up. Have a contractor actually walk through the property, quote the projects, and determine if it’s worth all of the work.

If you ask the right questions and do your homework, you’ll make the best investment. Be sure to build a team of professionals who will all contribute in the process. With the right team and the right knowledge, you’ll find a great home at a great price.

 

Submitted as a guest post by Casey Haslem

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