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Senior Downsizing Experts

According to a recent study, baby boomers (the generation born between 1945 and the early 1960s) now account for about 29% of renters.  Let’s look at 5 reasons more older adults are choosing to rent vs. own their home:

1. Convenience.  After years of homeownership, one of the biggest perks of renting is that the maintenance is no longer their responsibility.  If the air conditioner isn’t working or the sink is clogged, they can simply call the landlord.  This can be a huge relief for older adults.

2. Savings.  A large home can be a great expense.  Mortgage payments, property taxes, upkeep and utilities can take a toll on finances.  A smaller place with less maintenance can mean big savings for those looking to make their retirement dollars last as long as possible

3. Less wasted space.  As empty-nesters, there is no need to have all of the extra rooms to clean and maintain (or heat and cool).  Downsizing is the answer for many seniors.  There are options to fit any lifestyle – smaller houses, apartments or independent senior living communities.

4. Flexibility.  There are no long-term commitments, which is nice for those who aren’t quite sure where they want to settle or who may need to make a change in the future for health reasons.

5. The sale is done.  Selling a home can be very stressful, and even more so when there are health or other issues at play and decisions have to be made for you.  By selling while healthy, older adults avoid the extra stress on themselves and their families.

If you’re interested in finding out more about downsizing, attend our "Downsizing Made Easy Seminar" next Thursday, April 22 at 2:00 pm at Atria Senior Living in North Richland Hills.  For more information or to reserve your spot, call 817-635-1043 or visit www.seniordownsizingexperts.com.

Senior Downsizing Experts
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Senior Downsizing Experts Offer Solutions for a Smooth Transition

As senior adults and their families begin to face the challenges of “downsizing" -- a move for the elder from a larger family home into a smaller home, apartment, or senior living community -- they can feel overwhelmed.  Many don't know where to start or what their options are. 

To help Dallas/Fort Worth seniors and their families to better deal with the complexities involved in late-life moves, Senior Downsizing Experts Ingrid and John Sullivan have put together a casual and interactive workshop entitled  “Downsizing Made Easy."   The next free events are as follows:

                April 9 at Brookdale Arlington (formerly Town Village) from 2:30 to 4:00

                April 18 at the Lake Arlington Branch of the Arlington Public Library from 10:30 to noon

                April 22 at Atria at Hometown in North Richland Hills from 2:00 to 3:30

 During their hour-and-a-half presentation, the Sullivans discuss questions to consider before making a move, senior living options in the DFW area, questions for touring senior living communities, tips for hiring various professionals related to the moving process, guidance on estate sales, and more.   They urge attendees to look at all of the options available for a new chapter of life that requires less maintenance and allows for more freedom and fun.  

 "In many cases home ownership proves to be a financial burden and a source of isolation for seniors.  While remaining in the home may have been a goal earlier in life, by the time home ownership starts to feel unmanageable, the prospect of evaluating other options and actually moving, can be completely overwhelming," says Ingrid.  “As a DFW Realtor specializing in the 55+ real estate market, it is my goal to insure that older adults and their families are adequately equipped and aware of all the senior living options and resources available to them.  This part of my job is a great joy. Seniors and their families often don't know which way to turn when making these important decisions and we are happy to be here to help."

 For more information, or to register for one of the free seminars, please visit www.seniordownsizingexperts.com or call 817-635-1043.

 About The Sullivans:  

The  Sullivan & Sullivan Team of Keller Williams Arlington have made it their mission to help older adults navigate the obstacles they face as they begin thinking about downsizing and selling their home.   The Sullivans have completed extensive training and are both certified Senior Real Estate Specialist® by the National Association of Realtors.  Ingrid has also achieved the more in-depth Certified Senior Housing Professional (CSHP®) designation through the Seniors Real Estate Institute.   The Sullivans have managed late-in-life moves for hundreds of clients - including their own parents - and are aware of how emotional and complicated the process can be.   Their message to seniors and their families:  "You Are Not Alone."

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As the population ages, more and more senior citizens and their caregiver families are faced with the challenges of “downsizing" -- a move for the elder from a larger family home into a smaller home, apartment, or senior living community.

 

To help Dallas/Fort Worth seniors and their families accomplish this life transition with the most ease, real estate agents, Ingrid and John Sullivan of the Sullivan & Sullivan Team at Keller Williams Arlington, have put together a free seminar entitled  “Downsizing Made Easy."  The next two events are scheduled for:

                March 21 from 10:00 am to 11:30 pm at Watercrest Mansfield  and

                March 26 from 2:00 pm to 3:30 pm at Heritage Village in Hurst

 

"In many cases home ownership proves to be a financial burden and a source of isolation for seniors.  While remaining in the home may have been a goal earlier in life, by the time home ownership starts to feel unmanageable, the prospect of evaluating other options and actually moving, can feel completely overwhelming," says Ingrid.

 

That is exactly the reason that the Sullivans have stepped into the role of DFW's top advocates for a proactive, positive approach to where and how to spend one's later years.  For more than six years, the Sullivans have made it their mission to help older adults navigate the obstacles they face as they begin thinking about downsizing and selling their home.  

 

In the last few years, homeowners over 65 accounted for about 25% of all homes sold, and that figure is on the rise.  As such, the Sullivans are urging seniors to evaluate their options and make decisions about late-in-life housing arrangements well before they get to the point that decisions have to be made for them.  "It's never too early to become informed, " Ingrid emphasizes.

 

During their hour-and-a-half presentation, the Sullivans present a framework for getting started on a plan, and urge attendees to look at all of the options available for a new chapter of life that require less maintenance and allow for more freedom and fun.   Guest speakers will include specialists in Title and Escrow, Packing and Moving, Home Repair and Estate Sales.

 

“As a DFW Realtor who specializes in helping senior citizens and their families with their real estate needs, this part of my job is a great joy. Seniors and their families often don't know which way to turn when making these important decisions and we are happy to be here to help,” says Ingrid.

 

If you are interested in finding out more, or registering for one of the seminars, please visit www.seniordownsizingexperts.com.

 

About The Sullivan & Sullivan Team:  

Ingrid and John have more than 20 years experience in the Real Estate industry.  They have completed extensive training and are both certified Senior Real Estate Specialist® by the National Association of Realtors.  Ingrid has also achieved the more in-depth Certified Senior Housing Professional (CSHP®) designation through the Seniors Real Estate Institute.   The Sullivans have managed late-in-life moves for hundreds of clients - including their own parents - and are aware of how emotional and complicated the process can be.   Their message to seniors and their families:  "You Are Not Alone."

Senior Downsizing Experts

The Sullivan & Sullivan Team at Keller Williams Realty in Arlington, Texas has assembled a team of experts to conduct an informative seminar on the ins and outs of the reverse mortgage.  Experts include representatives from Colonial Mortgage, Ideal Floors, Brightstar Care and Old Republic Title.  They will explain how exactly the reverse mortgage works and what the funds can be used for.   The dinner workshop will be held on Thursday, January 22 at 5:00 p.m. at the Dickey's Barbecue Pit in South Arlington.

A Home Equity Collateral Mortgage, or Reverse Mortgage as it is commonly known, enables seniors age 62 and up to convert their home's equity into cash while retaining ownership of their home.  There are no monthly payments and repayment is deferred as long as the borrower lives in their home.  The funds can be used in a number of ways. 

While the reverse mortgage may seem like a new concept based on the increase in advertising in recent years, the first reverse mortgage loan was actually written in 1961 by Nelson Haynes of Deering Savings & Loan in Portland, ME.  The loan helped Nellie Young, the young widow of a high school football coach, stay in her home despite the loss of her husband's income.

In the early 1980’s the U.S. Senate Special Committee on Aging issued a report stating the need for a standardized reverse mortgage program. Throughout the mid 80’s, other committees cited the need for FHA insurance and uniform lending practices. In late 1987 Congress passed the FHA insurance bill which would insure reverse mortgages. On February 5, 1988 President Ronald Reagan signed the FHA Reverse Mortgage bill into law.

Unfortunately, the reverse mortgage is a source of many myths and misconceptions.  Consumers need to be educated on the product before deciding whether or not it is appropriate for their needs - and it is important to have the correct information. 

Michelle White from Ideal Flooring says her company helps older adults make their homes more "aging- friendly."   Some homes have flooring that isn't suitable for those who have mobility issues or require the use of a walker or wheelchair.  "We can help you refresh your flooring so, as you age, it will accommodate your mobility needs, making navigation of any type easier for you." 

"A reverse mortgage can help older adults stay in their homes as long as possible and avoid nursing homes," says Jenna Robinson of BrightStar care, a home healthcare company.  Some of their clients have used reverse mortgage funds to hire in-home help for both medical and non-medical needs. 

Ingrid Sullivan, a Certified Senior Housing Professional (CSHP®) and co-owner of the Sullivan & Sullivan real estate team, has devoted herself to making things easier for her senior clients and their families.  "Many seniors are in homes that aren't appropriate for 'aging in place.'  They may be in a home that is larger than what they need or requires repairs that aren't feasible for them.  Perhaps they need a home without stairs, or a yard that requires less maintenance.  A reverse mortgage can help them purchase a new home that is better suited to their current and/or future needs."  Sullivan urges seniors to make decisions about their late-in-life housing arrangements well before they get to the point that decisions have to be made for them.  "It's never too early to become informed," she emphasizes.

For more information about the Sullivan & Sullivan Team or to register for the dinner workshop, please visit www.SeniorDownsizingExperts.com.