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.
Last 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”?
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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…
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….
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…
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…
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…
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.
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:
- 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.
- 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.
- 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).
- 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.