“As seen in 50 plus Magazine, Bruce’s 2012 Real Estate Prediction”

2012 Real Estate Forecast…What to Do?

I am fortunate to have a view of the real estate market which most folks just don’t have. I sell many homes each year and talk to mortgage lenders, buyers, sellers, home inspectors, stagers, contractors and so many others connected in some fashion to the housing market. In my conversations we discuss the current state of the market as well as their prediction or feel for the future based on their client’s comments and views of the present health of our local real estate market as well as the expectations for the future. I want to share those views with you, the reader, so you can make plans for your home sale when the time is right for you. Also, you can share this information with your children and grandchildren who may be on the sidelines waiting for the right time to jump into the housing market for their very first purchase.

The overwhelming sentiment is that we will not see appreciable appreciation of our single family homes for another two to three years. But the good news is that price depreciation is slowing down to a single digit decline and moving towards stabilization. That is very good news, as prices have fallen since 2006. That has been a 5 year fall in home values for an average decline of 20-40%, depending on location. Inventory of homes for sale is also falling which is a sign of recovery. Therefore, do we wait for that moment when we know the bottom is here and prices are on the rise? My experience shows me that the exact moment of price appreciation is never truly known at the time it is happening. It is such a gradual process that we can only time the market by looking backwards, which is very difficult to do! When looking at history, patterns are clear and easy to see, but when in the moment very difficult to know for sure. The complicating factor to timing the market is interest rates. Even if we wait until the perfect time to sell or buy, interest rates can rise, causing our timing to falter. For every 1% of interest rate rise, buyers lose 10% of purchasing power. In other words, if the interest rate rises 1%, a buyer would have to pay 10% less for the same payment. Therefore, prices may begin to rise, then fall a bit if rates go up. This is capitalism at is core.

Another factor that we don’t see at the moment is the many sellers waiting on the sidelines to put their home on the market. Once recovery is felt, many homeowners will put their home on the market as they have been on the sidelines for the past 5 years waiting for the right moment to sell. This acceleration of inventory may stunt the growth of the home sale market temporarily until this new inventory surge is absorbed. Add to that the large number of baby boomers waiting to downsize from larger homes. This may cause homes with great square footage to fall in price until they too are absorbed into the market.

The bottom line is that our real estate market will show positive signs of recovery, then may fall back and then recover and move forward. This start and stop market recovery and slowdown will probably be the norm of our real estate market for a few more years. Therefore, prices will be somewhat stagnant for at least 2 more years with prices remaining stable without decline.

This housing stability will offer great opportunity for both buyers and sellers. This is a rare type of market where neither purchaser nor home seller may have the advantage. That is a great time for buyers as they can feel good about the price they pay since prices will not be falling or rising. One of the great fears of today’s first time buyers is purchasing a home at today’s prices and being under water a year later! Stability is critical to buyer’s confidence in their first home purchase.

As a seller, one can remain confident that the price they attract will not shoot up as in the boom years, causing upset when feeling they should have just waited to cash in on the huge appreciation seen in the 2000-2006 years. One can remain fairly certain that the price obtained in 2012 will be somewhat close to the price obtained in 2014. So why wait if a lifestyle can be improved today by selling a home that no longer meets today’s needs.

Stable prices are here at this time for buyers or sellers. As a seller, understanding today’s buyer is critical to achieving success in one’s home sale. As a buyer, conditions have never been better as to inventory, interest rates, and price. Therefore, look at lifestyle as the determining factor for making your buy or sell decision in real estate. You will be considered ‘lucky’ for making that decision when afforded the luxury of looking back in time as to how you timed your decision as to the constantly changing market!

Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 33 years. He has just received the 2010 “Realtor of the Year” from the 3,800 membership of the GMAR (Greater Milwaukee Association of Realtors). He has been listed in Milwaukee Magazine’s 5-Star Agents list for three years in a row. As such, he’s one of only a handful of Realtors who are continually included in the top 7% in client satisfaction in the Milwaukee Metro area. He’s rated A+ by the Better Business Bureau, and was a finalist for Concordia College’s Ethical Business Leadership Award. He has  published a book called “Moving in the Right Direction”, A Senior’s Guide to Moving and Downsizing.  He works with his wife Jeanne at Realty Executives Integrity. Please feel free to call Bruce or Jeanne with any real estate questions you may have at 262-242-6177, or email at Bruce@BrucesTeam.com. You can go to their website at http://www.brucesteam.com/ and view the many articles and important information related to moving and downsizing!

Understanding Your Options Under Pressure

About 17 years ago, I decided to focus my practice on older adults, ages 75-90. My hope was to help this group plan ahead to avoid quick decisions. All too often I would receive a panic call from a senior in trouble. A health change forced hasty decisions that lead to unhappiness and sadness. Staying in a home that no longer meets the physical and mental needs of a long time homeowner can lead to challenges such as falls, isolation, inability to keep the maintenance up, etc. Security issues can force a person to become isolated as well as fearful.

The great recession has exacerbated this situation by keeping folks in their homes with so many waiting for the real estate market to rebound and restore the home asset to 2006 levels. By waiting to make a move that could have been done when relatively healthy, the door opens to a move that is forced and done with little planning due to the urgency of the moment.

Today, the calls I receive have shifted away from seniors and more from the children of seniors who now have to make the decision for a parent or parents that have stayed too long in an unhealthy environment. This has lead to the family of the older adult burdened with the pressures of selling the home, dealing with governmental agencies in relation to Medicaid and determining where their loved one will spend the rest of his or her days.

No parent would ever wish this responsibility to be placed upon a child or family. However, by waiting for their home value to rebound, the family becomes one in crisis and too often siblings can turn on each other in the attempt to make the right decisions for their parents.

If planning is done when decisions can be thought out and made with deliberation, senior housing options are plentiful and can fit almost any budget. There are governmental agencies in every county ready to help if called upon for advice and information. There are even senior planners that specialize in guiding older adults so that one’s health and well-being are foremost in decisions made when considering new housing options. One can visit any senior community and a marketing director will offer the information needed to assess finances as well as physical and mental needs.

If you are a senior who knows that your home no longer meets your needs for safety and security, talk to your trusted advisors and get an objective opinion as to what should be done to enhance health needs as well as offer a higher quality of life. Moving away from isolation and fear to security and new friends cannot only extend one’s years of quality living, but can also avoid placing your family in a crisis situation! 

  Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 33 years. He has just received the 2010 “Realtor of the Year” from the 3,800 membership of the GMAR (Greater Milwaukee Association of Realtors). He has been listed in Milwaukee Magazine’s 5-Star Agents list for three years in a row. As such, he’s one of only a handful of Realtors who are continually included in the top 7% in client satisfaction in the Milwaukee Metro area. He’s rated A+ by the Better Business Bureau, and was a finalist for Concordia College’s Ethical Business Leadership Award. He has published a book called “Moving in the Right Direction”, A Senior’s Guide to Moving and Downsizing.  He works with his wife Jeanne at Realty Executives Integrity. Please feel free to call Bruce or Jeanne with any real estate questions you may have at 262-242-6177, or email at Bruce@BrucesTeam.com. You can go to their website at http://www.brucesteam.com/ and view the many articles and important information related to moving and downsizing!

A Move Based on Fact!

We are receiving a flood of news from cable, newspapers, and local and national sources of information. One day we hear the real estate market will recover in 2012, and the next in 2020! How do we know which source will offer us the most accurate information to time our move to our best advantage?

The best sources I find rely on  fact not opinion. These seeds of truth are our best hope for assessing the current and future real estate trends so that we can best plan for the future. Prices in real estate in our 4-county Metro-Milwaukee market have adjusted downward about 25%-30% on average since the peak of 2006, with some areas less and some more. Condominiums have been hit harder in this recession, as more buyers are choosing to rent rather than own. Single family homes are still desirable for young families, with surveys showing that young folks still rank homeownership desirable verses rental properties.

The source of much of our real estate woes are foreclosures and short sales. Sale prices of these types of transactions are typically 30-40% below homes that are sold in good condition and not in financial distress and condition. All sources project a substantial number of new foreclosures arriving in our market place in the coming months due to a moratorium caused by legal issues regarding the filing of these foreclosures. This is fact. Therefore, it may take 3-5 years to sell these properties and then return to a stable market. 

If you are a long time home owner who is using your home as your nest egg and want and need to make a move…do it now. You will probably have more proceeds this year than next due to the market situation that I described. I’ve seen so many folks putting off a needed move and then have a health emergency while waiting. This can put additional pressure on not just the homeowner, but their entire family. A move while relatively healthy is preferable to one that is in crisis management.   

If you are home owner that will not be moving in the next 3-5 years, I would recommend upgrading your home both structurally and cosmetically. Buyers today place a great value on condition. They will pay substantially more for a home with contemporary decorating and solid condition, than a home needing updating. The difference can be as much as 30% from top condition to average condition. Call a stager before making changes so that you upgrade with today’s buyer in mind, rather than your own cosmetic tastes. You will be happy that you did, and I think you will enjoy today’s new designs as they provide much peace and serenity by color choice.      

In summary, if a move would improve your lifestyle and provide better security and conform to your heath needs, I would make that move as soon as possible. If a move is just a few years off (3-5 years) then I would invest in your home’s decorating and structural condition. Either way, using information that is real and accurate will provide your best chance for a successful move!

Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 33 years. He has just received the 2010 “Realtor of the Year” from the 3,800 membership of the GMAR (Greater Milwaukee Association of Realtors). He has been listed in Milwaukee Magazine’s 5-Star Agents list for three years in a row. As such, he’s one of only a handful of Realtors who are continually included in the top 7% in client satisfaction in the Milwaukee Metro area. He’s rated A+ by the Better Business Bureau, and was a finalist for Concordia College’s Ethical Business Leadership Award. He has  published a book called “Moving in the Right Direction”, A Senior’s Guide to Moving and Downsizing.  He works with his wife Jeanne at Realty Executives Integrity. Please feel free to call Bruce or Jeanne with any real estate questions you may have at 262-242-6177, or email at Bruce@BrucesTeam.com. You can go to their website at http://www.brucesteam.com/ and view the many articles and important information related to moving and downsizing!

Success or Failure…Either/Or…Really!

Many of you had a job that involved sales in various aspects of your career. In so many cases there were “winners” and “losers”. You won an award for selling more than your co-worker. If you didn’t measure up to your employer’s expectations or goals that were set for you, a new job may have been your next destination!

We carry this scenario throughout our lives. In sports, who remembers the “losers” in the Super Bowl? Number one is the goal of so many athletes as finishing second is just not acceptable. One of my friends told me that his daughter won second place in a sales contest. Their were 7,000 sales people across the world in her company. He called to congratulate her, and her response was, “dad, why are you congratulating me for being the first loser!” That says it all.

What does this have to do with real estate and choices we make or avoid when considering moving to a better situation? Everything!

Think about it. Our homes are so critical to our quality of life. Many of my senior clients will confide in me as to how their lives are impacted by the home they live in. In many cases I will hear about how negatively affected they are by the home they live in, or I will hear how much their home adds to their quality of life. In the negative situation, cost of maintenance, security issues, stairs, distance to visit their children and isolation are just a few reasons for a negatively impacted quality of life. When speaking in the positive, the opposite holds true. They are in a much better position where funds are available for maintenance, travel and altering the interior to meet physical needs, etc.

So you see, we look at our home situations as either working for us or not working for us. It is black and white, either or. But as we all know life is many shades of color and more complex than we like to think about it. We can cope so much easier when we break issues down to good and bad, right and wrong, pleasant or unpleasant. That is just the way our minds work to cope with situations that seem overwhelming…like moving!

If we are in homes that truly no longer work for our current situation, why not view what we perceive to be negative as something to work towards. If we decide to move towards that which causes discomfort (the moving process) and know that getting to that point means we are on our path to a better life. View the uncomfortable, overwhelming thought of downsizing, selling and finding a new home as just a step on your journey to a home that provides all of the necessities and comforts you truly desire. See you being around others, no worry of maintenance, and feeling safe. That will be the end result and the moving process will be a stepping stone on your path to true wellness and happiness. Changing your thought process from choosing to see your current situation as either negative or positive, to viewing your current situation as a stepping stone to move through to get where you need to be can be the difference of staying in a bad situation to one that offers comfort, safety, and true happiness. It’s your choice!

Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 33 years. He has just received the 2010 “Realtor of the Year” from the 3,800 membership of the GMAR (Greater Milwaukee Association of Realtors). He has been listed in Milwaukee Magazine’s 5-Star Agents list for three years in a row. As such, he’s one of only a handful of Realtors who are continually included in the top 7% in client satisfaction in the Milwaukee Metro area. He’s rated A+ by the Better Business Bureau, and was a finalist for Concordia College’s Ethical Business Leadership Award. He has  published a book called “Moving in the Right Direction”, A Senior’s Guide to Moving and Downsizing.  He works with his wife Jeanne at Realty Executives Integrity. Please feel free to call Bruce or Jeanne with any real estate questions you may have at 262-242-6177, or email at Bruce@BrucesTeam.com. You can go to their website at http://www.brucesteam.com/ and view the many articles and important information related to moving and downsizing!

The Real Estate Market; We Do Have Control!

So many of us are wondering what direction the real estate market will go. Will prices rise, will prices fall? Will foreclosures increase or will they decrease? When will the market stabilize and when will prices recover?

The answers to all of these questions are the same…who knows! Pundits are all over the place as to sales of existing homes in our area. Most agree that it will be 3-5 years before we see equilibrium as to numbers of buyers and sellers. That is the point where values may be more predictable and possibly rise with inflation (1-3% depending on economics at that time). We do however have total control as to how we choose to perceive the market!

If we accept the fact that homes will always sell for what the market supports, in this case what buyers will pay, then we can make peace with where we are today, not tomorrow or 10 years from now. In most areas, properties have adjusted downward by 15-30% on average from prices in 2005-6. I do market estimates in the four county Milwaukee-Metro area. When I am finished with the estimate of value, most sellers thought their home was worth about 10% more than the current market offers. That is normal. We can accept reality that we feel comfortable with, and no more.

If we instead, accept market prices where they truly are, and not where we would like them to be, then make plans based on that figure, you may find that your plans to purchase or move into an apartment or community will work just fine with net dollars you receive. Try to keep in mind what you originally paid for your property and then look at the appreciation you’ve enjoyed over the years. For those who purchased in the last 10 years or so, there may be little appreciation or a loss. That is reality. But even for those with negative equity, you may do well to purchase another and make up that loss on your new purchase. There is a saying, “in a down market buy up”. That is because if you are purchasing a home in a higher price range, that seller has seen a larger reduction dollar wise than you have.

If you can make peace with where we are today as to your real estate value, and accept the reality of our economy, you can then make decisions based on logic rather than anger and disappointment. We can’t change reality, but we can change our perception of today’s real estate market.

Homes will always sell, as owning a home is far preferable to renting for most families. Therefore know that you can make your plans to move to better your lifestyle. Proper planning and perspective can be the ingredients to a more enjoyable life if that is what you truly want…it’s up to you to make it happen if you so choose.

 Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 33 years. He has just received the 2010 “Realtor of the Year” from the 3,800 membership of the GMAR (Greater Milwaukee Association of Realtors). He has  published a book called “Moving in the Right Direction”, a Senior’s Guide to Moving and Downsizing.  He works with his wife Jeanne at Realty Executives Integrity.

Please feel free to call Bruce or Jeanne with any real estate questions you may have at 262-242-6177, or email at Bruce@BrucesTeam.com. You can go to their website at http://www.brucesteam.com/ and view the many articles and important information related to moving and downsizing!

A Stager’s Pizzazz Can Bring Great Returns!!

We all know the real estate market has changed drastically over the last 5 years. Much of what worked in the past is no longer relevant to today’s buyers. Purchasers today have a wide assortment of homes and condos to choose from, and therefore their expectations of quality and cosmetic appearance are higher than ever.

Today’s market is a tale of two types of properties. They are at opposite ends of the pricing spectrum At the low end of pricing are foreclosures and homes in need of repair. Pricing may be 25%-30% below a home or condo that has been fully remodeled. Therefore, at the high end are properties that have been fully remodeled, with updated kitchen, baths, flooring, paint, etc They will attract a much higher offer and in a shorter period of time.

If your goal is to get top dollar in today’s market, consider hiring a stager! These are professionals who specialize in guiding a homeowner through the process of making sure the home or condo meets today’s buyer’s expectations of colors, condition, and furniture placement. For a relatively small fee for initial consultation ($150-$300), you will have a consultant helping you choose the best options to bring back the best returns. If furniture and accent pieces are needed, these professionals will stage the home with pieces they own and will charge as a monthly rental fee plus their time invested in the staging process.

Think about it. A $300,000 home showing average, with dated interior may sell for 30% less than a home fully remodeled and staged. If the stager charges 1-2% of the value of your home, it pays to invest in this service as your returns will be much greater than the cost of a stager. Also, time on the market will be greatly reduced if your home stands out over the competition.

Even if you don’t invest in a new kitchen or bath, a staging consultant can bring those rooms to life by changing wall and ceiling colors and adding some accent pieces. When viewing homes, buyers make decisions using all of their senses of smell, sight, and logic. A property that shows well using today’s colors and accents can evoke a sense of satisfaction, peace, and calm. They are not focused on all of the money they will need to spend to bring the condo or home up to today’s standards.

You can always sell your home as is without making any improvements. But understand that buyers today have so many options. They can look at foreclosures selling at 50%-60% below market, needing significant updating. You don’t want a buyer to perceive your home to be competitive with a foreclosure with such great discounts.

To find a reputable staging consultant, you can call your Realtor and ask who they have had success with in the past, and are reasonable in their pricing. You will be amazed at the difference proper color selections and correct furniture placement can make in the final sales price, as well as much shorter time on the market. That old saying about spending money to make money holds true in today’s ever changing real estate market!

    Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 30 years. He has just published a book called “Moving in the Right Direction”, a Senior’s Guide to Moving and Downsizing.  He works with his wife Jeanne at Realty Executives Integrity.

Please feel free to call Bruce or Jeanne with any real estate questions, you may have at 262-242-6177, or email at Bruce@BrucesTeam.com. You can go to their website at www.brucesteam.com and view the many articles and important information related to moving and downsizing!

Senior Citizens: Their Fears, Hopes and Questions about Housing Options

By Bruce Nemovitz

Introduction
There comes a time in the lives of many seniors when staying in their current home is no longer a safe or wise choice. It may be because the stairs have become more difficult or impossible to negotiate. It might be that the general upkeep of the house has become overwhelming. Or it may simply be because they’re experiencing declining health. Sadly, too many seniors continue to live in homes which do not meet their physical and/or mental needs. 

I have been a Realtor in the Metro Milwaukee area for over 30 years and am a Senior Real Estate Specialist – that is, a specialist in helping senior citizens to make appropriate housing decisions. I have been in the homes of hundreds of seniors, listening to their stories and watching their faces. In too many cases, those faces have painted a picture of fear and frustration. I needed to get to the root causes of their trepidations, hopes and desires. I wanted to know what seniors were really thinking about when it comes to such an important aspect of their lives – their home! Why were they staying in their homes when it was obvious a move should be made?

I decided to survey my senior clients who were still in their homes. The majority of the respondents had attended a “moving seminar.” The seminars provide information regarding affordability of senior housing, downsizing and the process of selling their home and moving. Most of the seniors were ages 72-83 years old.

Seven hundred surveys were distributed. Statistically, I expected to get back 1%, or seven. However, I received about 10% or 70! The questions were open ended (subjective) with no choice of answers. The seniors were free to answer any way they chose. This was not a scientific study, but simply an attempt at compiling the beliefs of seniors faced with the decision whether or not to sell their home.

Following are the compiled results, including respondents’ comments:

1. What are the top three reasons that you are considering a move?

42% -- Maintenance

·       Home and yard too much work (can’t find reliable or affordable handyman)

·       Home deterioration (can’t afford or physically maintain good condition)

·       Snow shoveling or plowing driveway

·       Responsibility of caring for a home

34% -- Health Issues

·       Will need medical help in the future

·       Reduced physical abilities

·       Beginning stages of dementia or Alzheimer’s disease

·       Can’t take care of self

·       Loss of eyesight

10% -- Downsizing

·       Home too large for current needs

·       Kids moved out, and not using space

6% -- Loneliness

·       Looking for companionship

·       Someone to see if you’re o.k.

·       Contact with people in health emergencies

·       Spouse passed away, now alone

·       Children have moved out

6% -- Transportation

·       Location is not close to shopping, doctors

·       Security (don’t feel comfortable in current surroundings)

·       Physically unable to drive

·       Too much traffic and noise

6% -- Age

·       Getting too old (unable to enjoy home as before)

4% -- Finances

·       Too expensive to stay

·       Will the taxes keep going up? Too high already

Other Answers

·       Declining ambition

·       Spouse doing all the work

·       Need a new lifestyle

·       Don’t want to burden the children

·       Loss of family and friends

2. What are the top three fears that are keeping you from making a move?

32% -- Fear of Change

·       Going to strange surroundings

·       Familiar to less familiar

·       New setting

·       Leaving our neighborhood

·       Loss of neighbors/secure with current friends and neighbors

·       Emotional separation from home

·       Fear of unknown

26% -- Fear of Downsizing

·       Packing and sorting

·       Giving up treasures possessions

·       Where do you start?

·       Entire process too difficult

·       What to do with the things you won’t have room for in your new home

·       Physical exertion of moving

24% -- Emotional Fears

·       I’ll miss my home

·       Will my new neighbors be compatible?

·       What if I make a mistake? Bad decision

·       Will I get cabin fever?

·       What if I can’t take my pet?

·       I’m afraid I’ll take too long to decide

8% -- Financial Concerns

·       Monthly costs of new residence

·       Income won’t cover costs

·       Cost increases in new residence

·       Costs of moving

4% -- Loss of Independence

·       Will others make decisions for me?

·       Lose control of my life

·       Sharing living space

Other Answers

·       Will I have to bring up my house to code when I sell?

·       My husband wants to stay and I must accommodate his wishes

·       My wife has too large of a burden; she cooks, cleans, and makes decisions

·       Will I like the new senior housing over a long period of time?

·       Will I like community living?

·       Future health concerns

·       Hallways are too narrow in senior communities

3. How many years have you been in your present home?

·       0-20 YEARS -- 22%

·       21-30 YEARS -- 10%

·       31-40 YEARS -- 26%

·       41-50 YEARS -- 34%

·       50-60  YEARS -- 8%

(Note that 68% of respondents have been in their current homes more than 30 years)

4. What do you find most confusing about current housing options?

Respondents all mentioned cost or pricing issues. Their comments included:

·       Refundable fees vs. non-refundable fees

·       Monthly payments

·       Security deposits

·       Utilities

·       Rate changes or increases

·       Best options for my situation

·       Poor heating and cooling systems

·       Terms of lease agreement

·       Right of residents (rules and regulations)

·       Anticipating future needs

·       Monthly expense comparison (current vs. new residence)

·       Future cost increases

·       Extras such as pool, clubhouse, exercise room should be separate

                                   

5. What are the three most positive changes you see in the future?

(Note that, although the question was regarding positive changes, 32% of respondents answered in the negative or could not think of any positives.)

Positive

·       Health Advances

·       Disease control

·       Medical advances

·       Prescription insurance

Negative

·       Can’t think of anything positive

·       No clue

·       Won’t get better/ Hoping for status quo

·       Everything iffy

·       Future looks bleak

·       We live too long

·       Government is so disappointing

Miscellaneous

·       Transportation improvement

·       Less government corruption 

·       Improvement of social morality

·       Enough money to last rest of life

·       New friends

·       Better politicians

·       Trips with groups

·       More done on Internet

6. What are your three biggest fears about the future?

44% -- Health

·       Loss of physical ability

·       Not able to take care of self/make own decisions

·       Pain and suffering

·       Burden on loved ones

·       I get sick or die before spouse/who will then take care of me?

·       No one to help me if I get sick/alone when ill

26% -- Finances

·       Loss of financial security

·       Inflation

·       Can I afford change?

·       Taxes are going up

Loneliness (small percentage of respondents)

·       Loss of independence

·       Death of spouse

·       Companionship

·       Isolation

·       No children, who will help take care of me?

·       Alone when ill

Government (small percentage of respondents)

·       Too much government involvement

·       Lack of leadership

·       Safety on streets

·       Federal government leading us to disaster (global ecology)

·       War-war-war!

·       Chemical warfare

Miscellaneous

·       Making the right decision

·       How long will I live?

·       Not being in control, driving etc.

7. What have you heard most from friends and relatives
who have made the move to senior housing?

76% -- Satisfied

·       Most glad they made the move

·       Most seem happy

·       Relief from duties at home

·       Lifestyle improved

·       Was a good idea

·       Making new friends

·       Chores and meals done for them

·       Travel and have fun without worry of home

·       Should have done it sooner!

12% -- Not Satisfied

·       New home too small

·       Circumstances made their decision

·       Hard to adjust to downsizing

·       Too much time on hands

12% -- Not Sure or No Opinion

Conclusions
After reading the responses, I came to some important conclusions. Fear was holding many of the seniors back from making a move that they could or should make. Of course, we are all “victims” of comfort and stability. We’ll stay in situations because we feel comfortable and safe, even if we are unhappy! How many people stay in bad marriages, or jobs to the detriment of our happiness and well being? We do so in many cases because that’s what we know. It reminded me of the story…

There once was a fox and a scorpion. The scorpion needed to get across a pond and asked the fox for a ride on his nose. The fox agreed, having known the scorpion to be honest and kind. The scorpion got onto the nose of the fox. Half way across, in the middle and deepest part of the pond, the scorpion reared up and stung the fox in the nose! The fox was startled and asked, “Why did you sting me in the nose? Now I will drown and we will both die!” The scorpion looked at the fox and said, “I stung you because that’s what scorpions do.”

The moral of the story is that, like the scorpion, people do what they do because they do what they do. It may not be healthy, but the comfort and security of a known condition is better than the unknown (many times healthier) changes we should make for our well being.

My senior respondents stated overwhelmingly that maintenance of their homes and deteriorating health were reason enough to move. Their homes were too large in many cases, but emotional issues were overriding the logical part of their brain. Most have been in their homes over 30 years. Much has been accumulated. There is total confusion as to the choices available and costs for senior housing. Many are pessimistic about the future. There seems to be a feeling that things will get worse before they get better. However, some feel that medical advances, longevity of life and better politicians will make for a better tomorrow. Fears about health in the future and dwindling finances weighed heavily on my respondents.

The responses to the question about what they heard from friends and relatives who have already moved  were not surprising. The overwhelming majority stated that satisfaction and happiness were the result of the move. The people they believed and relied on for honest information were happy, which leaves an incongruity.

People they trusted had told the respondents that a move to senior housing was a positive, healthy answer to their current housing problems… problems they had had in common. But in many cases, the familiarity of a bad situation was more attractive than changing to a seemingly better unknown.

RecommendationsSeniors whose housing accommodations are not meeting their health or lifestyle needs should have their fears acknowledged and dealt with in an forthright manner. However, it is time to look at the facts and encourage them to overcome their fear of the unknown. They should be helped to take an honest look at their life and decide if they want to leave it to chance or design their remaining years to meet their needs for fun, enjoyment and security.

A senior, or a person who cares for one, can begin this road to freedom by gathering information through the many professionals who are ready and willing to help. There are companies to prepare a home for sale, to help sell and pack personal property and to assist with arranging finances. Professionals will assess each situation and offer the best options for health and financial needs. In short, let others who have been there before serve as guides and make the move if it is the right thing to do.

The following are professional services and providers that seniors can use to help them change their lifestyle if a change is needed:

·       A Senior Financial Planner can advise as to the best use of the current assets. These consultants can help decide which senior housing options will work best financially.

·       A Realtor will help design a game plan regarding when to sell, how much a home is worth and also make recommendations for other trusted professionals.

·       A Marketing Director, or professional senior placement service, will assess the particular situation and offer guidance as to which senior housing would best serve individual needs.

·       A professional moving company can explain the services they provide, such as packing and moving, as well as the costs involved.

·       A personal property liquidator (estate sale specialist) will estimate the value of personal property and provide appraisal advice for valuables.

·       Tours are offered for all senior housing options. Plan to take as many tours as needed, after talking to marketing directors or placement services.

Most importantly, it’s a time for seniors to look deep inside themselves and ask if their current lifestyle is the dream they worked towards for their entire life. Is this the way to spend the rest of one’s life? If it is the right style for a given situation, then stay and enjoy the home for years to come. Unfortunately we never know how long we will live or how our good health will last. So think clearly and honestly.

Bruce Nemovitz is a Senior Real Estate Specialist, as well as Certified Senior Advisor. Bruce has sold residential homes in the four county Milwaukee-Metro areas for 30 years. He has just published a book called Moving in the Right Direction a Senior’s Guide to Moving and Downsizing.  He works with his wife Jeanne at Realty Executives Integrity.


Please feel free to call Bruce or Jeanne with any real estate questions you may have at 262-242-6177, or email at Bruce@BrucesTeam.com. You can go to their website at www.brucesteam.com and view the many articles and important information related to moving and downsizing!