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54956 : Real Estate Advice

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  • Home Buying5
  • Home Selling3
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Activity 12
Wed Dec 28, 2016
Jeff Furst answered:
Hello,

My name is Jeff. I am not a realtor or a financial advisor, but I've watched as well as helped my Grandparents on my mother and father's side deal with your question and now my father and his wife (my mother passed away) are in their mid 70's and have began tossing the same question around. One thing I found to be a major factor in the two generations I've seen this with is money. Not necessarily being rich or poor but will you be able to live the same lifestyle that you are use to or will you still be happy if you choose a retirement community, a duplex, apartment, or whether you are moving in with family.
My Grandpa ok n my moms side was of the generation where retirement was mandatory at 65 years old. He worked at the same company for nearly 50 year's and when he had to retire at 65 I witnessed a man who had nothing to do. He and my Grandmother sold the house the built new and lived in 35 years and moved into a duplex. From the age of 65 until he passed away at 91 everyday he got up he still put on his work clothes he wore at the mill he retired from. Once he got dressed and ate breakfast he found himself with nothing to do. When they sold their home they sold a big part of their life and daily routine. He no longer had a yard to take care of, no workshop to do repairs if he need, and day after day he had less and less to do. Oh, he visited my mom and us kids almost every day which began to drive my mom crazy because he loved to tease us kids. He made decent money where he worked. He had a 401K, plus a pension, his savings, and of course Social Security.
I think the prospect of having to retire at 65 scared him and he probably thought he would run out of money. Their house was paid off, which just left him with taxes, upkeep, insurance, etc. Everything that he had before except the house payments. I mentioned his scenario for a few reasons, and one if the biggest is planning ahead. He was the type of person who's life was a routine. He did the exact same thing every day, year after year. Everything was automatic and never changed. I don't know if it was just an expected part of retirement to sell your home then but he was someone who didn't need to and never should have. He had my Uncle take care if any large financial matters, he paid all of his bills at the same grocery store each month. As I mentioned, everything was the same for well over half a century. I mentioned my Uncle because my Grandpa never had a checkbook in his 91 years.
I bring that point up because I was raised that you didn't talk about money with people m You certainly never asked them and you should have never had a reason to tell anyone. So my point is you need to tell your real-estate agent about your investments, pensions, Social Security, basically you financial worth for the main reason of fighting out if you can afford your plans after selling your home. People in their 70's are the new 60's. They'll want to know where you'd like to live, what your monthly expenses are, your monthly income, your returns on any investment 's, and so on. A lot of people do not want to talk to other people about how much money they have. As far as the realtor he or she should know how much you paid for you home over the life of the loan, at what interest rates, etc. They need to be as honest with you about every aspect not just selling your home, but how much you can afford to spend wherever you are planning to move. We will you continue to work part time, etc.
What % does it come to after the house sells that the company and her get, or just the company. Usually it's 6% total. Do you need the money from the sale of your house to start the next phase of your life or can you survive if it doesn't sell and you want to get on with live not watch it pass bye while you're waiting for the house to sell. III know I didn't mention many technical things, but I know my grandpa would have enjoyed his retirement much more if he didn't just do what "everyone else did" when they retired.
One last thiNg about my grandpa, after he'd wakeup, eat breakfast, put on his work clothes, he'd play solitaire for hours and hours on end. To the point that the square edges on the cards were rounded. That's not what he worked 50 plus years for, but I loved him dearly!

Best of luck,

Jeff
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Thu Dec 31, 2015
Diane Christner answered:
Try contacting Trulia's customer service department directly, it is doubtful anyone from Trulia will read your post here. However, Trulia gets foreclosure information from other syndicated sources, so if your home is on a list elsewhere it will probably end back here on Trulia again at a later date - unless you track down the original source of the info. ... more
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Thu Dec 31, 2015
Sally Grenier answered:
Hard to say. No savings is a bit of a problem because buying (and maintaining) a home does cost money. Typically you need at least 3-3.5% down, plus money for closing costs, inspection, appraisal, etc. There may be down payment assistance programs in your area. And you may be able to negotiate and get the seller to pay your closing costs. But inspection ($300-400) and appraisal ($400-500) is your expense.

You need to sit down with a local lender who can review all of your information. The lender is going to look at credit scores, job/income history, debt to income ratios, etc.

I'm a huge advocate of home ownership; however, I worry about people wanting to buy who have no money. Besides the cost to buy, there is additional financial responsibility in owning and maintaining a home. You no longer can call the landlord when the furnace goes out or your pipes freeze.

If owning a home is your goal, then make it happen! Good luck and Happy New Year!
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Mon Aug 17, 2015
Amanda Lauer answered:
Yes, it is DEFINATELY OK to have more than one Realtor come through your property. In fact, you should always have 2 or 3 Realtors come in and do an evaluation on your property. Realtors know that they are up against competition and they should be doing their best to give you accurate information about the market, a presentation regarding their marketing plan and experience that will help you sell your home. When you have agents come through, don't be afraid to ask the tough questions. If they don't know the answers, it may be time to branch out. Ask them WHY you should pick them? What are they going to be doing to sell your home? What is their marketing plan, and what have their results been? I hope that you find a GREAT Realtor to help you. Feel free to us to sell you home. We are THE HOME TEAM, at Coldwell Banker The Real Estate Group, Inc.. (920) 766-HOME (4663). ... more
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Thu Jan 9, 2014
Stacey Hennessey answered:
It will really depend on what you put into your home (such as tile flooring vs. vinyl, if you would like granite counter tops vs. the traditional Formica, etc.....). Do you already have a lot? Typically you could plan for something between $98-125 per square foot. If you want to contact me directly I can put you in touch with a few builders and we can talk more about your budget, etc. ... more
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Wed Jun 5, 2013
Thomas Harrison answered:
Hi Travis,
Please save yourself some time and energy, contact a Realtor to get the answers to your questions about most homes that are listed in your community. Most good Realtors have the ability to find out information about a home, even if it is not listed on the local MLS ... more
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Wed Dec 12, 2012
sikhtemplefv answered:
Tue Mar 6, 2012
Duane Murphy answered:
That home is not currently for sale. It last sold 03/27/2009 for $415,000.00. If you have any further questions please give me a call or send me an email.
1 vote 2 answers Share Flag
Mon Sep 19, 2011
Christopher Pagli answered:
Hi, The actual worth is technically what a buyer is willing to pay for it. You can only get an estimated range based on sales within the last six months in your area. The most accurate infor comes from the local MLS which only agents have access to. Othersise you have to rely on sites like Zillow to hopefully be correct.

Chris
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