Special Needs for Seniors

 

About a year ago, I was made aware that Veterans who served in Active Duty could be eligible for benefits should they be in need of funds to help with home care during their senior years.  Apparently, although funds have been set aside to assist these veterans, little is known about these services.

As a Senior Real Estate Specialist (SRES), I am often asked to assist seniors when it comes time to sell their property. There are times seniors need to move into assisted living, or move to another state to be closer to their children. Memories need to be packed away or given to family members.  This can be a frightening time for an elderly widow who has relied on her husband to make all these decisions.

Sadly, I had one incidence where I received a call from a family member who suspected their caregiver was abusing their mother and the senior was too frightened to report it to the authorities. I gave them the names and phone numbers of Elder Abuse, and a social service organization was able to step in until the family arrived.

For more on planning for senior care click here.

It’s not unusual for me to work with 2-3 children who need to sell their parents’ home after their parent is deceased. This is an especially emotional time for all, and patience and understanding is so important at a time like this. Not all children will be “on the same page,” so they need time to sort through all their decisions.

I’m glad to be affiliated with SRES and happy to help my Senior Clientele. Another great organization I am affiliated with is www.ElderCareMatters.com.  These are just a few of the services they provide. You might want to look them up and Bookmark this sight under your Favorites!

• Elder Law
• Estate Planning
• Financial Planning
• Geriatric Care Management
• Daily Money Management / Bill Paying
• Home Care
• Long Term Care Insurance
• Arbitration & Mediation
• Senior Housing
• Senior Move Management

So the next time you are in need of someone to assist in helping “your special senior” with selling their home, please give me a call. I’m here to help any way I can.

Free Advice on the Elderly

Would you like to make a comment on this article? It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too! To comment just scroll down and leave a reply.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificatetowards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor,

Nancy Hankin

CARBON MONOXIDE POISONING ALERT!

I received this notice from Linda Garrett with Property ID, an Independent Company who provides many of our clients with Disclosures regarding property matters.This Bill affects Homeowners in California.

Senate Bill 183 Lowenthal (SB183) created the Carbon Monoxide Poisoning Prevention Act of 2010 (Act). The Act requires carbon monoxide (CO) detectors to be installed in every dwelling unit intended for human occupancy. A CO detector is a device that detects the presence of CO and emits a loud noise to alert occupants that CO is present in order to prevent CO poisoning. Detection of CO in a home environment is impossible without a warning device because CO is colorless, odorless, tasteless, and invisible (unlike smoke from a fire). It is often referred to as the “silent killer” because it is virtually undetectable without using detection technology.

Although the placement and location of carbon monoxide detectors in the home is not clearly spelled out in the Act, the packaging of your CO detector (which can be purchased at any home or hardware store) will provide for the proper placement in your home of your specific device. Installation locations will vary by manufacturer due to the degree of research conducted on that specific type and style of detector. Read and clearly understand the instructions specific to your unit – they are not all the same so PLEASE READ THE INSTRUCTIONS.

Here are some general guidelines common to most manufacturers of CO devices:

• CO devices should be placed on every level of your home, including the basement, and near or over any attached garage

• CO devices should be located within 10-15 feet outside of each separate sleeping area

• CO devices can be placed on the wall or the ceiling as specified in the installation instructions

• They should not be installed within 15-20 feet of any furnace or fuel burning heat source

• They should not be placed in or near humid areas, such as bathrooms

• They should not be placed in areas where they may be damaged by children or pets

• They should not be installed in areas of direct sunlight or areas subject to temperature extremes. (crawlspaces, unfinished attics, porches)

• They should not be installed behind curtains or other obstructions

• They may not function if installed near ceiling fans, heat vents, air conditioners, fresh air returns, or open windows

• Life expectancy for detectors will be specific to each manufacturer’s recommendations. Carbon monoxide detectors actually have an expiration date, so check with the manufacturer instructions to determine how long the carbon monoxide detector is supposed to last and maintain your specific unit accordingly.

The Act’s only disclosure requirement in a real estate transaction is the Real Estate Transfer Disclosure Statement, but SB183 provides that The Homeowners’ Guide to Environmental Hazards (prepared pursuant to Section 10084 of the Business and Professions Code) (Guide) should include information regarding CO when the booklet is next updated. Since the official Guide has not yet been updated by the Department of Toxic Substances Control, Property I.D. has included a general notice of Carbon Monoxide Devices since May 2010 to further ensure compliance with the Act by all parties in the real estate transaction.

Here is the notice provided in every Property I.D. Report:

Carbon Monoxide Devices
Pursuant to the Carbon Monoxide Poisoning Prevention Act of 2010, carbon monoxide detectors must be installed in every dwelling unit intended for human occupancy. Carbon monoxide is a gas produced when any fuel is burned, such as gas, oil, kerosene, wood, or charcoal. Because it is not possible to see, taste, or smell it, carbon monoxide can kill in minutes at high levels. Carbon monoxide detectors are similar to smoke detectors in that they will signal detection of carbon monoxide in the air. These carbon monoxide detectors should be installed outside of each separate sleeping area in the immediate vicinity of bedrooms, on every level including basements within which fuel fired appliances are installed, and in dwellings that have attached garages.

Links to additional information on carbon monoxide:

U.S. EPA, An Introduction to Indoor Air Quality (IAQ), Basic Information on Pollutants and Sources of Indoor Air Pollution, Carbon Monoxide
www.epa.gov/iaq/co.html

Center for Disease Control and Prevention (CDC), Carbon Monoxide Poisoning
http://www.cdc.gov/co/

American Lung Association, Carbon Monoxide Indoors
http://www.lungusa.org/healthy-air/home/resources/carbon-monoxide-indoors.html

Consumer Product Safety Commission (CPSC), Carbon Monoxide Questions and Answers
http://cpsc.gov/cpscpub/pubs/466.html

I wanted to re-Blog this to my database because I felt it was so important.

Would you like to make a comment on this article? It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too! To comment just scroll down and leave a reply.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificatetowards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor,

Nancy Hankin

Warren Buffet Says “Buy Now!”

In a recent article printed in NewsGenius,WarrenBuffet said this was an excellent time to be buying property. Here is what the article stated:

Warren Buffett, the billionaire investor and Berkshire Hathaway CEO, recently said on CNBC’s “Squawk Box” that he’d “buy up a couple hundred thousand” single-family homes if it was practical.

Buffett said that’s because he believes purchasing a home with ultra-low mortgage rates and holding it for the long-term has become a better investment than stocks right now.

“Housing will come back, you can be sure of that,” Buffett wrote in his annual letter to shareholders recently.

Buffett forecasts an increase in household formations, as more people who moved in with their parents or family members during the recession look to move out and get their own home soon.

“People may postpone hitching up during uncertain times, but eventually hormones take over. And while ‘doubling-up” may be the initial reaction of some during a recession, living with in-laws can quickly lose its allure,” Buffett said.

Buffett said the recovery in the housing market could vary quite a bit among local housing markets, however. He did not provide a timeline of when he expected a full housing recovery.

***

As you know, the media enjoys writing “doom and gloom.” It’s certainly refreshing to see Positive News nowadays. When I first became a Realtor (20) years ago, I was told real estate usually went in (7) year cycles. Based on that, I’ve been waiting for the end of 2012 and the beginning of 2013 to see an upward trend! What about you? Still sitting on that fence, or have you hopped off and decided to invest in real estate as many others are beginning to do?

Would you like to make a comment on this article? It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too! To comment just scroll down and leave a reply.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificatetowards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor,

Nancy Hankin

Oh…The Joy of Short Sales

This is an article I found valuable from the California Newsline dated February 23, 2012. I feel it’s a well written article that outlines current issues.

Short Sales and Foreclosure Affect All of Us. They Pull Our Property Values DOWN!

To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process.

SenatorsLisaMurkowski(R-Alaska),ScottBrown(R-Massachusetts), andSherrodBrown(D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a real estate transaction where the homeowner sells the property for less than the unpaid balance with the lender’s approval.

“There are neighborhoods across the country full of empty homes and underwater owners that have legitimate offers, but unresponsive banks,” said Murkowski. “What we have here is a failure to communicate. Why don’t we make it easier for Americans trying to participate in the housing market, regardless of whether the answer is ‘yes,’ ‘no’ or ‘maybe?’”

The legislation, also known as the Prompt Notification of Short Sale Act, will require a written response from a lender no later than 75 days after receipt of the written request from the buyer.

The lender’s response to the buyer must specify acceptance, rejection, a counter offer, need for extension, and an estimation for when a decision will be reached. The servicer will be limited to one extension of no more than 21 days.

The bill will also allow the buyer to be awarded $1000, plus “reasonable” attorney fees if the Act is violated.

According to a release from Short Sale New England, short sale homes do not bring down neighboring home values like foreclosed homes do, and 83 percent of short sale buyers are satisfied with their purchase, according to a 2012 Home Ownership Satisfaction Survey conducted by HomeGain.

“The current short sale process can be time consuming and inefficient, and many would-be buyers end up walking away from a sale that could have saved a homeowner from foreclosure,” saidMoeVeissi, president of the National Association of Realtors. “As the leading advocate for homeownership, realtors are supportive of any effort to improve the process for approving short sales.”

Equi-Trax released a survey last year on the issues real estate agents face when completing short sales. Guy Taylor, CEO at Equi-Trax, said 71.9 percent of respondents reported that a short sale can take four to nine months to complete, and they think that is simply too long.”

The survey also found that 18.2 percent of deals require less than three months to complete, with 10 percent requiring more than 10 months.

When agents in the survey were asked to how the short sale process can be improved, 57.6 percent said lenders should take less time to close transactions, 14 percent said borrowers should be better educated about short sales, and 40.4 percent said both of these changes are necessary to improve the process.

In April 2011, a similar bill was introduced by Reps. Tom Rooney (R-Florida) andRobertAndrews(D-New Jersey), but this version requested a response deadline of 45 days instead of 75 from lenders. The legislation never came up for debate before a House committee.

Would you like to make a comment on this article? It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too! To comment just scroll down and leave a reply.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificate towards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor,

Nancy Hankin

What are unanticipated closing costs? How much will I have to pay? Have I saved enough? What are my options?

Imagine this: After accepting an offer to sell your home, you review the settlement

charges and discover that you’re going to net less from the sale than you anticipated because you overlooked the city transfer tax. Or maybe you’re a buyer and you’ve saved enough for 20 percent cash down payment on a $300,000 house. But when you meet with your mortgage broker, you’re told that you’ll need about $10,000 more in order to buy the home.

Unanticipated closing costs come as a big surprise to many homebuyers and sellers. Closing costs are the fees and expenses that buyers and sellers incur during a real estate sale. Closing costs vary from one area to the next. Who pays which fees-buyer or seller-is usually set by local custom. Sometimes who pays what is negotiated.

As a buyer you might pay such fees as: title insurance; the fees associated with taking out a mortgage; inspection fees; a homeowner’s insurance premium; escrow or settlement preparation fees; proration of mortgage interest and property taxes; a tax service fee; flood certification; transfer taxes, if there are any; attorney’s fees or Escrow fees; a home warranty premium; miscellaneous documentation preparation fees and recording fees, to name a few.

Understanding Mortgage Insurance  

Sellers might expect to pay the real estate brokerage fee; prepayment penalties on existing mortgages; fees associated with paying off existing mortgages and other liens against the property; termite or other repair work agreed to in the purchase contract; a home warranty premium; title insurance; transfer taxes, if there are any; proration of property taxes; attorney’s fees or Escrow fees; any credits the seller has agreed to give to the buyers at closing; and miscellaneous documentation preparation and recording fees.

FIRST-TIMETIP: Don’t wait until your home sale is closing to find out how much your closing costs will run. If you’re selling, the agent who prepares a comparative market analysis for you can calculate an estimate of your closing costs. To find out what charges will be levied by your mortgage lender, call the lender directly. Buyers should ask their mortgage broker or real estate agent to give them a list of the approximate closing costs they can expect to pay.

There are several ways buyers can get assistance with their closing costs. One of the biggest costs associated with a home purchase is the mortgage origination fee, called “points”. One point is equal to one percent of the mortgage amount. A no-point mortgage will lower your closing costs considerably. Keep in mind that you’ll pay a higher interest rate on a no-point mortgage.

There are mortgages available that help buyers finance some or all of their closing costs. Ask your mortgage broker about these loans.

Another way to reduce closing costs is to ask the seller for help. Lenders will usually allow sellers to credit some money to buyers at closing to help offset their closing costs. Lenders often limit the amount of such credits to 3 to 6 percent of the purchase price. However, keep in mind that doing so, may mean paying a higher price for the property.

Many lenders also limit the amount a seller can credit to the amount of the buyer’s nonrecurring closing costs. Nonrecurring costs are the one-time-only charges associated with a home purchase, like mortgage points or a transfer tax. Homeowner’s insurance and property tax proration are recurring costs.

So the next time you buy or sell a property, check beforehand so you are not “caught off-guard” just before closing.

Six critical things you should never do before your loan funds.

Would you like to make a comment on this article? It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too! To comment just scroll down and leave a reply.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificatetowards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor,

Nancy Hankin

Actions on Housing Policy Will Make or Break Recovery

Although we have many reasons to feel  optimistic  about housing, lawmakers have the POWER to either continue helping or risk hurting our economy further with their decisions , both in the Senate and in the House.

Past –due mortgages and foreclosures have been trending down in recent months. Inventory is also shrinking.  This affects the law of supply and demand. The lower the supply and the higher the demand, helps prices trend upwards. Interest rates are lower than ever and home prices are beginning to stabilize…..but progress is still fragile.

• The only appropriate focus for legislators is helping families who are struggling right NOW and doing whatever it takes to keep properties OUT of the REO market!

Recent steps have been taken to provide distressed homeowners with more viable alternatives to foreclosure or short sales, such as easier refinancing through the Home Affordable Refinance Program (HARP), however, we need more programs of this nature. Foreclosures continue to decline.

How does this affect you? Foreclosures and Short sales hurt all of us because they drive the cost of property down, which in turn decreases our investments. As property values INCREASE, your investment grows.

How can you help? Just call or email your legislators and encourage them to SUPPORT HOUSING PROGRAMS that will strengthen the market; that will help homeowners KEEP their homes by being able to refinance their properties. Ask them to pass laws that will encourage banks to work “with” these families….not against them which they are currently doing in many cases. In doing so, we will ALL BENEFIT, and our economy will once again begin to grow at a healthy pace.

Keeping sight of your goals.

For the latest Real Estate News click here.

Would you like to make a comment on this article? It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too! To comment just scroll down and leave a reply.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificatetowards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor,

Nancy Hankin

Foreclosures Continue to Decline

It’s about time we see reports like these instead of all the negative news the media keeps feeding us!

DavidBlitzer, the Chairman of the Index Committee wrote an article January 26, 2012 in the Housing Matrix about Foreclosures. He states RealtyTrac reports that foreclosure activity across the US in December, and the full year 2011, dropped sharply.

Foreclosure filings in 2011 totaled 2.7 million, down 34% from 2010 and 33% below 2009 and 19% below 2008. Overall 1.45% of US homes experienced a foreclosure filing, about one in every 69 houses. Comparable percentages for earlier years were 2.23% in 2010, 2.21 in 2009 and 1.84% in 2008. December foreclosure activity hit a 49 month low, down 9% from November and 20% from December 2010.

On the otherhand…….

Mortgage Rates Are on the Rise Due to Better Housing Reports

Wall Street Journal – Mia Lamar – Rates for fixed mortgages moved higher over the past week amid positive signals from the long-suffering U.S. housing market, according toFreddieMac’s weekly survey of mortgage rates.

Remodels See Business Improving

Mortgage News Daily – JannSwanson- Like their home-building counterparts, remodelers who are members of the National Association of Home Builders (NAHB) are displaying more confidence in their industry than they have in years.  The NAHB’s Remodeling Market Index (RMI) for the fourth quarter of 2011 which measures remodelers’ sentiments about their business climate rose to 46.6 its highest level in five year.  In the third quarter the Index was 41.7.

Would you like to make a comment on this article? It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too! To comment just scroll down and leave a reply.

IMPORTANT: If you or someone you know is interested in buying or selling a home in the Palm Desert Area, try searching properties on the same Desert Area MLS Realtor’s use, or give me a call….or visit my website at Palm Springs Homes and Estates. I will be happy to give you or your referral my “red carpet service.” After the sale, I will send you a $50 Gift Certificatetowards dinner in a fabulous Palm Springs Area Restaurant so you can celebrate!

Brought to You By Your Favorite Realtor,

Nancy Hankin