As a member of the Long Term Health Care Network and as a Senior Real Estate Specialist, I am always looking for good information to share with my clients. This is a recent article on the cost and possible solutions available to family care givers. As the number of family members providing care for aging parents increases, the solutions to find help with loss of income because of time off from employment for caregiving has become a major concern for many. The demands on both the time and energy needed to provide the needed care can make it impossible to maintain both a full time job with full time caregiving. Seeing a need to give support to family caregivers the federal government Administration on Aging created the National Family Caregiver Support Program. State Area on Aging division manages this program on the state and community level to offer support services that include: Information to caregivers about available services; Assistance to caregivers in gaining access to supportive services; Individual counseling, organization of support groups, and caregiver training to assist caregivers in making decisions and solving problems relating to their roles; Respite care to enable caregivers to be temporarily relieved from their care giving responsibilities; and Supplemental services, on a limited basis, to complement the care provided by caregivers. Medicaid Cash & Counseling Program A Medicaid approved assistance program called Cash & Counseling may be used to provide funds to hire personal care aides as well as purchase items or services, including home modifications that help them live independently. The PayingForSeniorCare.com website gives the following information about the program: “For Medicaid eligible seniors, the process begins with an assessment in the home to determine the senior’s home care needs; this includes interviews with caregivers and possibly the senior’s physicians. A determination…
Continue Reading »
Another great article from the National Care Planning Council Because the home is the largest asset a couple can keep while still qualifying for Medicaid, it is also usually the main target of estate recovery. Sidney and Rachel’s Story: Sidney and Rachel had lived in their home since it was new. They built it just after Sidney got a promotion to regional sales manager for a shoe distributor. Through the years, the house was remodeled twice and expanded to add a loft bedroom. Even when their children were grown with families of their own, they all remained close, with frequent family gatherings for holidays and birthdays. Sidney and Rachel had paid off the mortgage and two second mortgages before Sidney retired. So in addition to being the center of family life, the house had also become the couple’s biggest asset. Rachel always hoped the house would remain in the family when she and Sidney were gone. She often talked about leaving it to their oldest son, Mark, who promised that he and his wife would continue the tradition of hosting the family for holidays and birthday dinners. However, as Sidney’s Alzheimer’s disease progressed, Rachel worried that Sidney would need to move into a nursing home. With the high cost of long-term care, Rachel knew their savings wouldn’t last long. Sidney would eventually need to qualify for Medicaid to pay the bills. Her biggest question was, “Will I lose my home?” A Common Question Indeed For a great many people who need Medicaid benefits for long term care, the home makes up most of their life savings. Often, it’s all a couple has to pass on to their children. You may not know that the home is an exempt asset according to Medicaid. It continues to be exempt as long as…
Continue Reading »
As Senior Real Estate Specialist, I am a proud member of the Long Term Care Network. This very resourceful web site provides seniors and their families with lots of great information. As a member, I wanted to share this great post on the process of changing the home to accommodate the needs of seniors as well the incredible service professional organizer can provide. Enjoy! When Robert and Anne bought their family home thirty years ago, their plan was to live through retirement in this home. They had furnished their home with refurbished antiques acquired from their many trips together. It was one of their cherished antique coffee tables that Robert tripped over, breaking his hip. Now with his return from the hospital in a wheelchair, the overwhelming task of making their home accessible for Robert’s wheelchair and safe for both of them faced Anne. Remodeling for wheelchair access, organizing home furnishings and daily living items or downsizing and relocating to a smaller living area are monumental tasks that are many times thrust on senior home owners. Sometimes the need to do this is brought on by injury or age related illness. Home and yard maintenance can become a daunting chore for even the healthiest of seniors, requiring them to make a downsizing decision. There is a large and growing industry of specialists who understand these challenges of elderly homeowners and are ready and willing to help with remodeling, organizing or the sale of the home and with the move to a new location. A professional organizer provides skills in making the home safe and manageable. Relocating furniture, removing hazards such as electrical cords, throw rugs, heavy objects on shelves that might fall are some of the ways they make a home more senior friendly. They specialize in helping seniors part…
Continue Reading »
Q. I’m moving to the Silicon Vally/San Jose area from San Diego and I’m looking for active living opportunities for seniors and proximity to good health care facilities. Can you help me identify my options? There is a lot to offer active adults in San Jose. First and foremost we are blessed with some of the best medical facilities in the country. Locally, some of the options are the world renowned Stanford Hospital in Palo Alto, the University of San Francisco Medical Center, and the extensive Kaiser Medical System available throughout the Bay Area. Secondly, the community and senior centers offer a great deal of activities to choose from and there is almost one in every neighborhood. These centers provide everything from organized trips to Las Vegas to computer classes, to community gardening. I have included a link but you can also search the web for senior centers San Jose and read about all the different activities. Finally, the mass transit system is not as connected as other metro areas but if you choose the right neighborhood, you can access the light rail, Cal Train, and BART fairly easily. There also several transport services in the area to help those with special needs. I believe the strongest vote for San Jose and elders is the variety of activities the city has to offer. Theater, community groups, an active library system, and lots of volunteer opportunities allow many opportunities for the active adult. Contact me if you would like more specific information about a certain area of San Jose. Got a Question? Talk to CJ! Tags: Active Adults 55+, Talk to CJ, San Jose, senior living, silicon valley real estate
Continue Reading »
Right after I received my real estate license, I went out and bought several books about the housing market, investing in real estate, and how to sell buy real estate in Northern California. I remember when I first read John Talbott’s book titled, “The Coming Crash in the Housing Market”. I sat back and thought to myself, “Oh no”. Of course at the time, many people were calling folks like John Talbott “Chicken Little”. How could the bottom fall out of the housing market? We can’t really say the housing market has hit rock bottom but talk to folks in Alum Rock and they are feeling like the fault line may not be the only thing shaking their home values. Some homes have lost nearly 20% of their value. The last time I ran the stats, some homes were getting close to 1999 price levels. Particularly hard hit were first time buyer units in East San Jose. Two years ago you could not find a 2BR condo under $400,000. Now you can find over 100 units. Some are now reaching the $350,000 price range. Tags: Active Adults 55+, Market Information, Sellers’ Tips, housing market, real estate values
Continue Reading »
I hesitated to write about reverse mortgages because I am firm believer in building equity in your home and not spending it. However, as the population ages and folks live longer, money needs to be stretched more and more. According to the AARP the 75+ age group is the fastest growing demographic and 4 out of 5 are women. Of those seniors 83% are property owners and 63% own their own home free and clear. Yet, some of these same people do not have enough money for groceries and are burden heavily by medical bills in spite of having Medicare and Social Security. Many of our older Americans are saving the family home as a legacy for their children and therefore do not want to use any of the equity in the home. But many of us children would rather see our parents and grandparents live comfortable lives over receiving a trust. Some parents will not tell their children that they use credit cards to pay for their groceries or are so cash poor that the real reason they don’t get out is so they have enough money for food and medicine. I would much rather see my parents enjoy that trip to the Tetons that they have always talked about over receiving an inheritance. Tags: Active Adults 55+, Sellers’ Tips, money for retirement, reverse mortgages
Continue Reading »
A good friend of mine recently sent me these great tips about a ready made alarm system. I believe the source was a Yahoo! forum. CAR KEY TIPS! Tags: Active Adults 55+, Buyers’ Tips, Sellers’ Tips
Continue Reading »
Recently,Connie Skipitares with the Mercury News wrote an article about the new release of two web sites that will help residents keep up on crime in the San Jose area. This elaborate database will pin point reported crime to a specific street number. You can also receive automatic email alerts for your specific neighborhood. Take a look at these two great resources. Very few cities in the country can brag to have the same. www.crimereports.com or follow a link from www.sjpd.org – Tags: Active Adults 55+, Buyers’ Tips, Sellers’ Tips
Continue Reading »
Like many of you I am trying to decide where I want to live if I can’t stay in the Bay Area. I found this great little widget on the AARP site. You simply answer some questions about your lifestyle, including health, education, weather preferences and it offers up 10 possible places you could live in the United States. Take it for a spin and see what places it finds for you. Tags: Active Adults 55+, Sellers’ Tips, Retirement home
Continue Reading »
You find yourself as a owner of more than one property in the Bay Area and you are wondering what to do next. First, congratulate yourself. For most it is hard to become an owner of one home in the area much less more than one. Maybe this was your first home, many years ago, or maybe it was an inherited property. Either way, it has a low mortgage, if any, and has a low tax base. You have been renting it out for the last couple of years and now you’re wondering what is the next best step. If you sell it you have the potential to be taxed nearly 30-35% (15% Federal Capital Gain Tax for assets held > 1 year, 9.3% State Capital Gain Tax, 25% Depreciation Recapture Tax). But there are options. Tags: Active Adults 55+, Sellers’ Tips
Continue Reading »
You’re familiar with the routine. You start thinking about general maintenance items around your home that really need your attention. Or maybe your not sure if it is time to replace the furnace. How long do they last anyways? The next thought is, “Who has time to get the estimates?”. Tags: Active Adults 55+, Sellers’ Tips
Continue Reading »
As a Senior Real Estate Specialist, I work with seniors to help them manage their homes in the best way possible for their individual situation. In talking with seniors many of them want to stay in their homes but start to worry that they are not as safe as they would like to be living on their own. With my resources from the Senior Real Estate Council, here are some tips that have helped my clients make their homes safer. These are simple ideas that improve safety and usability for seniors. Contact me if you need resources on handy workers that can complete these small jobs. Tags: Active Adults 55+
Continue Reading »
