NAR Chief Economist Lawrence Yun is upbeat about 2012 because in a number of areas indicators are pointing upward. Not only are home sales up but housing starts are up and home prices are stabilizing in many markets and heading up in some. In areas where they’re still down, the declines aren’t that great. More fundamentally, broader U.S. economic signs are looking positive, including the all-important jobs picture. About 100,000 job are being created a month, and that could rise to 150,000—still not a quick enough pace to get us back to where we were before the downturn but the headwinds are in the right direction.
Originally posted on NAR.org by Robert Freedman

To take advantage of these low interest rates and to find out how they can can benefit you,  give Sheila Conkling a call at 870-219-0652 or email sheila@neahomes.com.

Click here to visit Sheila’s blog:   SmithandConkling.blogspot.com

While stereotypes often portray older women as a homogeneous group, age 50+ women are probably more diverse than any other age group for either gender.  Not only do the terms “elderly, senior and older” include women whose ages span more than four decades, these terms encompass groups of women who vary widely in terms of income, educational attainment, health functional abilities, living arrangements, and access to support services.

Women are the majority of caregivers, yet so many times we do not think to care for ourselves, especially when it comes to our real estate plans and future housing needs.  We do make plans when it comes to health and financial issues, so why not with real estate needs and future housing concerns?

Did You Know?

According to the latest statistics from the Administration on Aging, America is growing older and many older Americans are women. Consider these facts:

• On average, women live 6 years longer than men and have a life expectancy approaching 80 years.
• Not only do women have a longer average life expectancy than men, they tend to marry men older than themselves.  Thus many can expect to be widows for 15 to 20 years.
• Over 19% of Caucasian women above age 60 are divorced. The percentage rises to 20% for African American women and 24% for Hispanic women.
• 70% of all older persons with incomes below poverty level are women.
• Of the 50+ population living alone, nearly 80% are women.
• Of the estimated 7 million Americans who are informal caregivers, almost ¾ are women, who are sandwiched between caring for an older relative and still raising children or grandchildren.

 It is obvious from research that women are living longer, and in their older years are living very differently than men.  The gift of longevity and the growing divorce rate of older women are frequently accompanied by a number of challenges.

Of those in the  50+ population which live alone, nearly 80% are women, usually through divorce or death of a spouse.  Research shows that in recent years women age 55 and older that are divorced do not have the need they once had for male companionship.  The geographic mobility of children also contributes to the growing phenomenon of older women living alone.

It is significant that more than half of older single women that now live in poverty were not poor before the death or divorce of their husbands.  The primary source of income for many older women is Social Security, the amount of which is tied to employment and marital status.  This often puts single older women at a distinct disadvantage because they cannot claim benefits based upon a spouse’s higher income.

Marriage does not guarantee stable income for aging women, as dependence upon a spouse’s income or insurance plan makes a mature woman increasingly vulnerable in the event of separation, divorce or a spouse’s retirement, unemployment or early death.  Even with support from Medicare and Medicaid, older women spend a disproportionately high percentage of their disposable incomes on out of pocket health expenses.

Housing issues and real estate are especially critical in the lives of older women.  Many are at risk of becoming isolated and in need of community-based supportive services.  They are often fearful of crime and tend to restrict their activities outside their homes, removing themselves even further from available resources and assistance.

On a positive note, the increasing number of women pursuing lifelong careers and gaining higher levels of education will likely provide access to stable insurance and retirement income.  Changes in physical activity status, increased positive self-image and greater economic and social independence should enable women to take charge of their health and finances! 

(As published in Life Goes On, a magazine dedicated to seniors…Lifestyles to Live the Best as You Age)

GET ABOARD THE SOLD TRAIN

 
There are a variety of departing train times and stations, however if you wish to join ERA Doty, they will be departing on Sunday, March 18 at 1:45 p.m., arriving in Memphis at 10:00 p.m.

QUESTIONS?

Contact Kimberly Stem, Relocation Director at ERA Doty Real Estate at 870.897.3450 or Kimberly.Stem@era.com.

Houses usually show and smell better during the holidays!  They’re cleaned and decorated for family gatherings.  Welcoming a potential buyer into your home during a time that our culture focuses on hospitality and the home allows them to get a better picture of their own family holiday celebrations in the environment you’ve created.

Listing inventory can also run low during this time of overflowing calendars and seasonal obligations, so buyers typically have fewer homes to choose from.  Simply put, your home has less competition!  You may notice showing activity slowing down, but all of us agree that buyers who are actively looking at homes during the holidays are much more serious.

January is traditionally the month for job transfers.  These relocating families often are not given a choice when they can start at their new location, so having your house on the market is crucial. 68% of transferees have children and getting settled in before the January semester begins or making arrangements for a move during spring break can be very important to the transaction.

What about the buyers who take vacation time during the holidays?  Perfect timing for a husband and wife to look at homes together! Still another reason is many people want to purchase a home before year-end for tax purposes.

Don’t worry about showings during Christmas dinner…you can still restrict appointments during personal events!  And no need to worry about having to move during the holidays if you get an offer…negotiations can be made for a delayed closing or extended occupancy until the holidays are over.

The bottom line? Marketing your home during the holiday season may result in fewer actual showings, but with more qualified and motivated buyers.  With reduced local inventories, you’ll have less competition resulting in a quicker sale and better price!