Thursday, February 13, 2014

Sullivan & Sullivan Real Estate Team Aims to Empower Seniors to be Proactive about Late-in-Life Choices

Ingrid and John Sullivan are passionate about helping Seniors make the transition from a larger home to a more manageable living situation.  By focusing on helping Seniors, the Sullivan & Sullivan Real Estate Team aims to empower Seniors to be proactive about Late-in-Life choices. 

As real estate professionals who have managed late-in-life moves for a number of clients, including their own parents  – the Sullivan's are  thoroughly aware of how emotional, complicated and stressful the process can be for seniors and their families. Their message to seniors and their families: "You’re Not Alone."

That’s why the Sullivan's have stepped up to the role of Arlington’s top advocates for a proactive, positive approach to where and how to spend one’s later years. During their hour-and -a-half presentation entitled, "Downsize Your Home to Upsize Your Lifestyle," Ingrid & John present seniors with a framework for getting started on a plan, and urges attendees to look at all of the options available for a new chapter of life that calls for less maintenance and allows for more freedom and fun.

For more information about their downsizing seminars and upcoming dates for the next seminars, see this press release.

Monday, February 10, 2014

Town Village is the Premier Independent Living Community in Arlington, TX

 If you are looking for an Independent Living Community in Arlington, you’ll like what you see at Town Village. Brookdale’s Town Village is the Premier Independent Living Community in Arlington, TX. Town Village Arlington is an exceptional Independent Living Community option for seniors.

As you enter the community you are greeted by gorgeous landscaping and a cozy wrap-around covered porch with seating areas. Once you enter the front doors you will enjoy the tastefully decorated living and meeting areas.

Town Village offers 215 apartments with full kitchens. There are studio, one bedroom, and two bedrooms apartments with several different floor plans to accommodate resident’s needs.

Residents dine in the beautiful dining room and can choose from a number of delicious meal choices at each meal. The healthy meals are prepared by trained chefs and served by an attentive wait staff. Lunch and dinner are served Monday through Saturday, on Sundays and Holidays there is a wonderful brunch and various breakfast choices are served daily.

Some of the areas enjoyed by residents are the library, billiard room, fitness facilities, and an arts and craft room. There are a number of public living areas where residents enjoy other activities like dominos, card games, puzzles, and visiting. Services that set Town Village apart from other Senior Communities are the very accommodating transportation services with 4 vehicles and 5 drivers, Call Pendants with GPS tracking, Exercise and Wellness programs, and Housekeeping, all of which are included in the monthly rent. Additional services offered by Town Village Arlington include: On-site therapy, Beauty Salon, Pet Walking, Laundry, and Medication Reminders.

Residents at Town Village range in age from 62 to 100 years old. There are a few residents who have lived at Town Village since it was built about 13 years ago. The friendliness of the residents and staff is what residents say they love about living at Town Village. Favorite activities of the residents include: Bingo, Visits to local museums, Outings to the Symphony and Plays, and monthly trips to the Casino. Click here to see the monthly calendar of activities at Town Village Arlington. Watch this video to see what residents and families have to say about Town Village.

Stop by Town Village at 1250 W. Pioneer Parkway, Arlington, TX or contact them at 817-226-0500

 

Friday, January 24, 2014

Ready to Downsize so You Can Upsize Your Lifestyle?

Are you ready to downsize so you can upsize your lifestyle? Many seniors are aging in place, however there comes a time that you may have too much home in size and maintenance duties and want to downsize to a more manageable living situation. Moving to a Senior Living Community may offer you more freedom to enjoy life by releasing some of your everyday chores and housing concerns.

Independent Living communities are senior housing communities designed for independent seniors that desire the conveniences of community living. These communities offer a senior lifestyle filled with recreational, educational and social opportunities. Independent Living Communities may also called "Retirement Communities", "Congregate Living" or "Senior Apartments".

Some communities offer an enriched lifestyle with recreational and educational opportunities (Congregate Living or Retirement Communities), while others provide housing with only a minimal amount of amenities or services (Senior Apartments). Both types of independent living allow seniors more time to themselves and less time performing home maintenance and yard work.

Independent senior living communities are not licensed and offer a variety of services from place to place. They usually have a minimum age requirement and rent on a month-to-month or lease contract. The key is, they are “independent” senior living communities, meaning they DO NOT provide medical care. Most will arrange for home health services if needed on a temporary basis, however, when a resident requires extensive on-going medical care, they may become ineligible to live in the independent living community.

Independent Senior Living Communities typically offer full kitchens, some meals in a common dining room, housekeeping, paid utilities (except for telephone and cable), laundry facilities, 24 hour staffing, and private area for resident use. Some communities offer other ancillary services such as medication reminders, pet walking, laundry services, etc. There are some are affiliated with churches, schools or other community programs.

In future articles we will talk about Assisted Living, Skilled Nursing and Rehab, and Continuing Care Retirement Communities.

If you have any questions about downsizing or receive a copy of our “Downsizing Made Easy” guide, Please Contact the Sullivan & Sullivan Team.

 

Tuesday, January 14, 2014

6 Tips to Help You Sell Your Home Fast

Good News, it’s a home seller’s market in the Dallas-Fort Worth area! The average days on market for the area in 2013 was 57 days which was down by 23% when compared to 2012. The Sullivan and Sullivan real estate team’s average days on market for 2013 was 27 days! So, how did we help our clients sell their homes quickly? Here are 6  Tips to help you Sell Your Home Fast.

1. Price It Right – Over pricing a home is a major reason a home doesn’t sell quickly. Sometimes underpriced homes sell for higher prices because of a bidding effect. Especially in the Dallas-Fort Worth area home market now with inventories being low. Because they were priced right, we had a number of homes that we listed to sell in 2013 have multiple offers in the first few days on the market . Work with an experienced real estate agent who knows the local market and provide you with an accurate competitive market evaluation. Remember the price should not be determined by: What you paid, What you need, What you want or What your neighbor says. There are real estate agents who will suggest overpricing a property to get a listing. Make sure you carefully review the market analysis. We monitor our listings very closely for correct pricing. Our rule of thumb when listing a property;  If you do not have more than 10 showings or an offer in the first 2 weeks on the market, the property may be overpriced.

2. The First Impression May be the Only Impression – The first impression starts with curb appeal. Make sure your lawn is well manicured, bushes and trees trimmed. If in season, plant some colorful flowers. Sometimes, even silk flowers in a flower pot will work. If it’s fall or winter, rake and sweep leaves. Make sure the front door has a fresh coat of paint or finish. Is there any flaking paint or rotted wood on the home’s exterior? These are signs of homeowner neglect. Moving to the home’s interior, fresh paint is always good. Fix leaky faucets, running toilets, watch the little details. If the carpet is worn and dirty, clean it or replace it. Let lots of light in by turning on lights and opening blinds and curtains before a showing. Kitchens and Bathrooms are some of the most important rooms. Consult with your real estate agent to determine if it’s worth doing some updates. Sometimes there are inexpensive updates you can do which will increase your home’s value and salability.

3. De-clutter and De-personalize – Since you are selling your home, you are also planning to move. Start packing. The more you can remove from your home the better it will show and the more spacious it will look. Start with closets and counter tops. Take all the things that make your home “your personal sanctuary” like family photos, religious decor and other memorabilia, and pack them up. Buyers want to visualize your house being their home– and it’s difficult for them to do that with all your personal items marking the territory as yours.

4. Stage the home – Home staging is one of the services we provide our clients. Staged homes typically sell for more and quickly. Why do you think new home builders stage models. Watch some of HGTV home selling shows.Smile  Our stager like to say, “we are going to make your home look like Pottery Barn.” A good stager can move furniture to make a home look more spacious, help with home de-clutter and take what you have and add a decorator’s touch. We even do light staging on vacant homes because they show and photograph better because we are different.

5. Have a Sales Plan to Promote Your Home – One of the reasons the Sullivan and Sullivan team have been selling homes so quickly  is because of our Our Ultimate 55 point Home Selling Plan. Some agents use the 3 P home sales plan, Put a home in the MLS, Put a sign in the Yard and Pray that it sells. We Are Different. After we have a home staged, we have it professionally photographed. Many times first impressions are made when a home buyer sees the property on the internet. We try to use a minimum of 25 professional photos, have a virtual tour and video for all of our listings. Since most home buyers are represented by agents, you need a plan that promotes the property to local agents as well. Use social media to promote your home for sale to all of your connections. Your agent should be able to provide you with links you can post to Facebook, Twitter, LinkedIn, etc.

6. Listen to your agent - When you find an experienced real estate agent to list your home, who has a successful track record of selling homes in your area, listen to their recommendations! Find an agent you trust and follow their advice as often as you can. The Sullivan and Sullivan team would love to be that trusted agent. Find out about how we are different. Contact us here.

Friday, December 20, 2013

10 Fire Safety Tips for the Holidays

 

Avoid accidents and keep your family safe during the holidays by reviewing these 10 Fire Safety tips for the Holidays.

1. Install smoke detectors; change the batteries every year. Install carbon monoxide detectors and make sure those batteries are fresh too.

2. If you use your fireplace, make sure to use a fireplace screen.

3. Never burn wrapping paper, boxes or other trash in your fireplace.

4. Don't leave a fire unattended; put the fire out before you go to bed.

5. Make sure candles are in stable and secure holders and keep them away from combustible materials and small children. Never leave candles unattended.

6. If you have a real Christmas tree, put it in a stable stand, and keep it fresh by checking the water level daily. A dried tree is more susceptible to fire. Keep the tree away from heat sources that could dry it out. Most tress dry out in two weeks, so don't leave your tree up long past the holidays.

7. Check holiday lights for cracked or broken bulbs, frayed wires and loose plugs. Don't use lights that aren't safe.

8. Use lights that have been approved by testing labs like Underwriters Laboratory (UL) or Factory Mutual (FM).

9. Use lights only in their designated areas; never use "indoor only" lights outdoors.

10. If your smoke, fire, or carbon monoxide detectors go off, get everyone outside and call 911. Don't try to solve the problem yourself.

 

Tuesday, December 17, 2013

Record home sales in the Dallas/Fort Worth area for 2013

According to the latest report from Texas A&M University’s Real Estate Center, North Texas existing home sales rose 4 percent in November.  Year to date 2013 home sale numbers for the Dallas Fort Worth-North Texas area are up significantly with single family home sales of 82,234 an 18% increase over the same 11 month period in 2012. The average price for the area was $226,005 up 10% over 2012.

In November, 5,960 homes were sold in the 29-county North Texas region with a median price of $170,000, 10 percent higher than last year, according to the report.

On average, homes sold in November were on the market for 59 days, which is a 20 percent drop from November of 2012.

The strongest home sales in Tarrant County last month were in central west Arlington, where the median price also rose 74 percent from a year ago. The housing inventory (number tells you how many months it would take for all the current homes for sale to be sold) is still extremely low in area. In the Arlington Mansfield area inventory levels average 2.4 months which is down about 35% from 2012. A normal real estate market is considered to be between 5 and 7 months inventory. The Arlington Mansfield area average home price is $155,075 up 9% and the average Days on Market are 50, down 27% from the same 11 month period of 2012.

For more information on the real estate market in your area contact the Sullivan and Sullivan real estate team.

 

Thursday, December 12, 2013

Reverse Mortgages to Purchase a Home in Texas

In November’s general election, Texas citizens decided to change the state constitution to allow for all Federal Housing Administration reverse mortgage products under state rule in Proposition 5.

This legislation will allow the state constitution to be amended to allow for qualified applicants to use a reverse mortgage to purchase a home. Previously, homestead laws within Texas have prevented the loan until now. The Texas constitution has been amended several times since 1999 to allow other reverse mortgage products.

The amendment will also include reverse mortgage safeguards, including a requirement that detailed disclosures be made at least 12 days before the closing of a new reverse mortgage loan, which provides prospective borrowers with the information and time necessary to make the loan decision.

Texas was the second largest market in the country for reverse mortgages. However, prior to the passage of Prop 5, it was the only state that didn't offer the "reverse mortgage for a home purchase." This form of reverse mortgage allows a person to purchase a new primary residence and obtain a reverse mortgage in a single transaction. Prop 5 included the terms of a "reverse mortgage for purchase" in the constitution, so seniors could use this method to obtain a new home. It also required lenders of reverse mortgages to expand the required counseling to borrowers, ensuring that seniors know what specific actions can lead to foreclosure.

Because of homestead laws, a reverse mortgage for purchase in Texas, has as many or more consumer protections that any other state. It is the most regulated mortgage loan in Texas. Some people have expressed concerns about reverse mortgages, however a check with the Texas Department of Savings and Mortgage revealed there have been no enforcement actions from lending involving reverse mortgages in the last 6 years.

A reverse mortgage is a credit agreement under which a creditor provides money to a borrower in exchange for a lien on the borrower's home. A reverse mortgage for purchase of a residence is called a Home Equity Conversion Mortgage (HECM). A HECM is a FHA insured, non-recourse loan. There are no mortgage payments. The borrower is not required to repay the money or interest on the money until the borrower dies, sells the home or permanently moves out of the home. Reverse mortgages are available to people ages 62 and up. Qualifying may be easier than a traditional mortgage, generally there are no credit score requirements. Typically the down payment for a reverse mortgage to purchase a home runs between 40% to 60%.

If you have question about a Home Equity Conversion Mortgage (Reverse Mortgage) please contact the Sullivan & Sullivan team by clicking here.

For answers to frequently asked questions on Reverse Mortgages go to the HUD website here.