Category Archives: Housing

Road Map to a Housing Rebound

Yes, as we all know… just as with politics, and Tip O’neil’s famous mantra, “All politics is local”… so, with real estate, “All real estate is local”. Having said that, this article in US News and World Report is instructive in that it lays out 5 general factors that we can, and should, pay attention to when it comes to making any buying, selling, increasing or decreasing decisions relative to our own, local housing situation.

THE big key to be aware of in the housing arena in today’s economy is this: Housing will most likely FOLLOW, not lead, the rest of the economy out of a slump. It has become a ‘following indicator’, where in the past housing was a major part of economic expansion.

Got a “Seniorville”?… I Wanna Know About It

Happy Couple in FallLast Sunday’s Seattle Times Real Estate Section put a spotlight on the area of Riverside Drive / Bothell, a fine berg just north of Seattle,  touting it’s attraction as a “Seniorville”.  This put me in mind of an important concept that I counsel Boomers and Beyonders on when the issue on the table is…

“Where’s the best place for us to live out our ‘final 1/3 of life’ with a high level of  health and happiness”?

Aging In Place: Stuck Without Options

Only a small percentage of Americans move after they reach retirement age, according to demographic researchers, meaning most will “age in place” in neighborhoods where daily activities require frequent car trips. With rising life expectancies, America’s largest generation will also be the oldest ever. Inevitably, aging experts note, a large share
will find that their ability to navigate by vehicle diminishes or disappears over time. These millions of older adults will need affordable alternatives to driving in order to maintain their independence as long as possible. Read the full AARP report here…

Backyard cottages sprouting in Seattle

A few years back, Seattle homeowner Bette Lalley and her adult daughter Darla Rude wanted to build a small house behind Lalley’s home so that the two could live nearby one another. Disappointed that the city didn’t allow construction of second homes on single-family lots in their neighborhood at that time, Lalley and Rude watched and waited. Then, in late 2009, the Seattle City Council adopted legislation allowing smaller second homes, so-called “backyard cottages,” to be built citywide. Read the rest of the article here….

Boomers Expect to Retire Where They Are

WASHINGTON (AP) — Many baby boomers say they’re likely to stay put in retirement amid a shaky economy. Those who hope to buy a new place are looking for a smaller home somewhere with a better climate that’s more affordable and close to family, a new poll finds.

The 77 million-strong generation born between 1946 and 1964 is increasingly worried about retirement and their finances in light of the economic crisis of the past three years. Just 9 percent say they are strongly convinced they’ll be able to live comfortably when they retire, according to the Associated Press-LifeGoesStrong.com poll. Read the rest of this informative article here…

How Many Seniors REALLY End Up In Nursing Homes?

As the baby boom generation ages, and many are considering whether they will need to have long-term care insurance, one of the first questions asked is “what are the odds that I will end up in a nursing home? Another is “what percentage of today’s elderly need this type of care?”

According to the U.S. Bureau of the Census, slightly over 5 percent of the 65+ population occupy nursing homes, congregate care, assisted living, and board-and-care homes, and about 4.2 percent are in nursing homes at any given time. The rate of nursing home use increases with age from 1.4 percent of the young-old to 24.5 percent of the oldest-old. Almost 50 percent of those 95 and older live in nursing homes. Read the full article here…

Bouncing Baby Boomers

See… I told you so…the close-in neighborhoods that are “richer” in services and amenities, the “Blue Zones” if you will, are going to bounce back first. If you are a “suburbanite” (Think: “Chateau Bellvue”) with the thought of downsizing into becoming an “urbanite”  (Think: “Walk to Everything Digs”) the gap in values is only going to get wider the longer you wait…

“This market is proving to be challenging, but not for the reasons you might think,” said OB Jacobi, president of Windermere Real Estate Co. He pointed out interest rates are low, affordability is high, and confidence in the housing market is improving. “These are all good things, but the result is an influx of motivated buyers in a market where inventory levels have not yet caught up to the demand.” Jacobi, a member of the Northwest MLS board of directors, said one consequence is “stiff competition for move-in ready homes that are priced right, especially in neighborhoods close to Seattle.”  Read the full article from Seattle Bubble here…

 

Why Are We Not Seeing More ‘Granny Flats’?

When Seattle lifted a cap to allow backyard cottages in all single-family neighborhoods, a gloomy image emerged among worrywarts: A rush of cottages tarnishing quiet neighborhoods with noise, privacy and parking woes.

Two years later, the city pronounced that the ordinance has had a positive effect on Seattle’s housing stock. The city released a report (pdf) Thursday that found that only 57 cottage permits have been issued since the law passed in December of 2009.

I’ve always thought that concept of a free-standing, detached “mother-in-law” cottage presents a great option for families to consider when addressing the challenges that come with navigating that territory we call “elder care”. This is especially true when taking into consideration that many urban neighborhoods in Seattle are what we call “amenity rich” when it comes to things like walkability, bus routes, proximity to shopping and health services, staying in touch with social and church circles, etc.

Imagine what great space could be constructed in one’s backyard that provides a level of “independent” living for for a relative who may be at that point in life where they require some assistance, but can’t afford the high cost of a traditional assisted living facility. And over the long run that space could function for a wide variety of users while adding value to one’s property.

I worked on a housing task force for the City of Anacortes a few years back that specifically sought to provide land use code and promote this type of housing… toward the purpose of increasing density and affordability inside their city limits. Likewise, I was involved with a cottage housing development in the town of Langley on Whidbey Island.

Frankly, I’m baffled that more families have not taken advantage of this Seattle ordinance. I’d like to hear from you if you’ve got some insight into this seemingly underutilized approach to addressing the sky-rocketing costs of elder care.

Read more: http://www.seattlepi.com/local/article/Seattle-report-No-mad-mushrooming-of-backyard-1376926.php#ixzz1MG8J804I

 

An Age Friendly Home

What does a age friendly home have? If you are hoping to be able to live in your home until your last breath, this article is one you want to pay attention to. It provides tips on making your home age friendly.

Talking With Family About Placement

Few decisions are more difficult than the one to place a spouse or parent in a nursing home. Since nursing homes are seen as a last resort, the decision is generally overlaid by a sense of guilt. Most families try to care for loved ones at home for as long as (or longer than) possible, only accepting the inevitable when no other alternative is available.

The difficulty of making the decision can be compounded when family members disagree on whether the step is necessary. This is true whether the person disagreeing is the person who needs help, his or her spouse, or a child.

The placement decision can be less difficult if, to the extent possible, all family members are included in the process, including the senior in question, and if everyone is comfortable that all other options have been explored. This will not ensure unanimity in the decision, but it should help.

We recommend the following steps:

  1. Include all family members in the decision. Let them know what is happening to the person who needs care and what providing that care involves. If possible, have family meetings, whether with the family alone or with medical and social work staff where available. If you cannot meet together, or in between meetings, use the telephone, the mail, or the Internet.
  2. Research other options. Find out what care can be provided at home, what kind of day care options are available outside of the home, and whether local agencies provide respite care to give the family care providers a much-needed rest. Also, look into other residential care options, such as assisted living and congregate care facilities. Local agencies, geriatric care managers, and elder law attorneys can help answer these questions.
  3. Follow the steps above for finding the best nursing home placement available. If you and other family members know you’ve done your homework, the guilt factor can be assuaged (at least to some extent).
  4. Where necessary, hire a geriatric care manager to help in this process. While hospitals and public agencies have social workers to help out, they are often stretched too thin to provide the level of assistance you need. In addition, they can have dual loyalties, to the hospital that wants a patient moved as well as to the patient. A social worker or nurse working as a private geriatric care manager can assist in finding a nursing home, investigating alternatives either at home or in another residential facility, in evaluating the senior to determine the necessary level of care, and in communicating with family members to facilitate the decision. To find a geriatric care manager in your area, visit the Web site of the National Association of Professional Geriatric Care Managers at www.caremanager.org.

These steps cannot make the decision easy, but they can help make it less difficult.