Welcome to Our Newest Listing!
1469 Allen Way, Westminster, MD 21157
Listed for only $369,900!
You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
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A Quick Guide to Retirement and Affordable Living
Retirement is your reward for a life of service, and usually a cause for celebration. Yet not being in the working world anymore means you have to keep your living expenses affordable so your retirement income can cover your costs. Where you live is one of the most costly expenses in your budget, so here’s a quick and easy guide on keeping your living arrangements affordable -- and your retirement comfortable.
Paying For It All: Saving Money In Retirement
Whether you choose to age in place or you decide moving to a retirement community is your best bet, you’re going to have to find ways to afford everything. U.S.News points out proper money management, including cost-effective living arrangements, is an important step in the right direction, but you also need the funds available to do so. That’s why it’s recommended to do some serious financial planning well before you retire.
If you have questions about what types of retirement savings plans are best, now is the best time to get them answered. Meeting with a financial advisor can help put you on the right path. Are you more of a DIY finance type? Putting your financial details into an online retirement calculator is often eye-opening. Whichever way you choose, taking the time to chart out your path to retirement will help you reap the rewards of careful planning in the future.
Evaluate Your Hidden Costs
If you’ve got your own home, you may think your retirement living arrangements are covered. Yet in many ways, the hidden costs of owning a home can make this an ongoing and expensive proposition, especially with things like property taxes, utilities, and regular maintenance. Other emergency costs, such as replacing broken appliances or repairing a damaged roof, can hike these costs up even further. RISMedia notes downsizing to a more modest house is one option, but even selling your current home and moving into a smaller, less expensive one doesn’t change the fact that you’ll still be paying for maintenance and upkeep. To assess how much of your income can go toward your housing, run some quick calculations.
Finally, the allure of aging in place can be further tarnished when it comes to accessibility. Unless you already live in a one-story ranch with senior-friendly design elements, like easy-access bathrooms, extensive renovations could be in order. Additionally, if you have personal care needs, or you require regular medical care, you’ll have to contract a home health aide at an additional cost.
Retirement Communities May Be the Most Economical
In your search for a new home for your retirement years, don’t discount a retirement community. Not only do these types of living arrangements come in a wide variety that can match your needs, but the costs of moving to a retirement community can also, overall, be much lower than living at home.
First, all the homes in a senior living complex, whether they’re condos, apartments, or modestly-sized houses, are all designed with accessibility in mind. This means you don’t have to pay out of pocket for costly renovations. Next, the monthly cost of living in a retirement community is all-inclusive of maintenance, repairs, and upkeep; the price you pay per month is usually one flat fee. This makes it much easier to budget your retirement income.
One of the biggest ways that retirement communities can be a cost-effective option is how they can accommodate any personal care or medical needs. When it’s all said and done, living in an assisted living community, or one that offers continuous care that adapts to your needs, as you age often costs less than it would to live at home and hire a home health aide or similar service.
Don’t let your retirement be a source of sleepless nights. Making smart choices now when it comes to your living arrangements can lead to a more secure financial future, one where you can live out your retirement years in comfort knowing that you’re safe and secure.
Planning on selling your home or downsizing into a new one? Partner with dedicated real estate professional Debbi Rivero today! 443.386.1306
Blog provided by: Harry Cline
Make all your family memories here! This brick-front colonial is an easy fit for a big or growing family! Great open floorplan starts with a two-story foyer, column-flanked living and dining rooms, open kitchen with SS appliances and granite counters, center island which open to the cozy family room with gas fireplace. First floor library has closet and could be used as additional bedroom! Upstairs, double doors swing open to the primary sitting room that steps up to the large main bedroom with dual closets. The primary bath has a welcoming sunken tub , separate shower, double sinks and all the amenities you desire. There are also three other generously sized bedrooms on this level plus a separate laundry room for your convenience! The basement is also finished with rec room with wet bar, separate gaming room area, office space, another full bath and plenty of storage! The backyard has oversized patio, trampoline, playground, and garden. Also electric fence is installed! Some of the recent upgrades include New Architectural Shingled Roof in 2019, as well as two new HVAC systems and a new well pump! Interlock system is in place for the backup generator! Just the perfect place for the entire family! Call us for any additional questions 443-386-1306.
2021 Real Estate Market thoughts moving forward from my crystal ball (which has been known to have a crack or two).
Obviously the U.S. economy is expected to grown 2021. With last years dire circumstances affecting our economy it was obvious that things were going to contract. The latest from forecast groups are predicting anywhere from full year GDP growth of 4.8% to a high of 6.7% The upgrade of the full year 2021 estimated growth can be attributed to a lot of items however there is no denying the impact from the greater than expected increase in consumer spending during these harsh winter months. Not too mention the impact from the Real Estate market. Both the sheer volume of refinances as well as the vast herds of purchasers in the market place looking (rightly so) to take full advantage of these low interest rates. More than likely we will see a slowing in the whole Wuhan virus throughout 2021 which will also help to move the recovery forward at a much faster pace. The downsides to a strengthening U.S. economy will be absolutely felt. Especially in areas like higher interest rates (the Government along with the banking industry love their money), stronger inflationary pressures as things were artificially suppressed due to the pandemic, also the new administrations policies will go into effect most likely moderating the 2021 pace of the Real Estate marketplace and the current tightening inventory will most likely be somewhat offset by the increase in those sellers looking to avail themselves of the current economic conditions before they disappear. If 2020 will be remembered as the year of the virus then 2021 will most likely be remembered as the year of the recovery. While there are a ton of unknowns facing us this year one thing is absolutely certain……these great housing times will not last forever. Contact us today to see how we can assist you in achieving your Real Estate related dreams. Team makes the dream work and we are ready to work with you as a team!
Published by Richard Rivero
What is the biggest component to engage any individual into making life changing events? F-E-A-R It is fear of the unknown that empowers individuals to make decisions, some not as wise as others. With the political uproar that this country is currently facing along with COVID-19, many individuals are fearful and some will act in haste making bad decisions, some freeze in terror and miss opportunities. Let's try to unravel all of this to see what the lies in the months/years ahead.
So we first have to know where we are before we know where we are going. When COVID first hit our country and we shut down on 3/17/20. The short term real estate market became extremely volatile. Many homes that were under contract never saw the settlement table. Why? The banks were fearful. They quickly changed requirements for obtaining a loan. A purchaser who could purchase with a credit score of 580 could have purchased a home in February of 2020, but by mid-March, the score jumped to 640+, so if that wasn't enough to slow the market and crush hopes, aspirations, and dreams, they also dropped loan programs, so a business owner using specialty loans directed toward small businesses were also denied and they also lost out on dreams. Fast forward only a few months, interest rates drop and the buyers who fit the new guidelines start to look for homes. Sellers are still a little edgy about letting strangers in their house during these uncertain times, so inventory stayed low while demand grew. Each passing month, we see more and more homes hitting the market, but at the same time, more and more demand is becoming apparent.
Winter months are usually slower months of the year. December or January would typically each have about 100-150 properties listed and about half that number under contract. This past December, Howard County had 271 homes new to the market (much higher than a typical December) and 56 went under contract (average number for December in an average year). Let's compare that to January 2021, Howard County had only 23 homes hit the market and 259 went under contract! While the total homes coming on the market in January is less than normal, the number of under contract homes is off the charts! Especially for January! This market is NOT slowing down at this time!
So, what will cause the market to make a change?
Well, one factor is of course the interest rates. We are currently in the unbelievable epic lows around the mid 2%. The affordability for any buyer right now is incredible! Their dollar goes so much further, which is a blessing since the housing prices are soaring. Yet, I believe the rates will rise this year. It is typical that rates raise in the spring. I believe our administration will use this typical situation to force the higher interest rates in the spring and continue to rise until we are back to 4%+ by end of the year. So what does that do to the real estate market? Well, the buyer that could afford a home at $350,000 today will only be able to afford a home at $300,000 by years end. Therefore, buyers should do everything they can to purchase now, pay a little more if necessary to lock in the low prices and purchase a larger home. So start your new search here
Another factor is the fear factor. What will the new administration do to affect real estate? What laws might they enact that could affect us? What about the stock market? How will that affect anything? I can foresee increased taxes when it comes to the purchasing of real estate. Lawmakers have been trying to increase them here locally for years and I can foresee that happening either locally or nationally, so Maryland is already an expensive state to purchase real estate and I believe we will see increases there with this new administration. I also foresee quite a bit of relocation on a more massive level. I feel we will see an increase of movement from states like New York and Illinois to our state, while I also see mass movement of Maryland to Florida, Texas or the Carolinas. That will keep our market strong and stable this year, but I do feel the market will stabilize by the end of the year, and turn more to an even market.
Another factor to consider has to do with the foreclosure market. The new administration controls the financial markets that handle the mounds of foreclosures sitting out there not allowed to be sold. Once those foreclosures enter the marketplace, it will start to drive prices down again, increase supply and start to move away from a seller's market. If you are considering selling, it is better to be ahead of that curve. I believe the seller's market will peak in the next few months. If you want to know what your home is worth today, click here! Once the foreclosure doors open, we will see a big dip in home prices. It will rebound, but maybe not for another year or so. Again, if you are thinking of upsizing, I would do that now while you can still get great rates. If you are willing to gamble, or not looking to make a move for several years, be the first to know what homes have gone under contract or sold and the sales price and how they compare to yours by clicking here to stay on top of the market in Your Neighborhood.
We don't want to you to be fearful in your decision making process. We are here to provide you all the available information so that you can make your best decision.
Start and end your search here! Pull up on the circular driveway to the front of this
home with fantastic curb appeal! (tons of additional parking in rear accessed by
alleyway) You'll find yourself smiling as you approach this grand, well-maintained,
true 4 bedroom, 3.5 bath home! Enter inside and find a traditional center-hall
colonial with beautiful orignal hardwoods flooring on both the main and upper levels.
Some features to note are the remodeled kitchen with granite counters, gorgeous
white cabinets and newer appliances and the supersized family room which is in
addition to the formal living and dining rooms. In the lower level, there are also
two awesome recreation room areas and another full bath and outside entrance to
rear yard. (No allergy concerns here as this house doesn't contain carpet!) The
detached garage houses two cars, has additional bonus work room with electric
and heat. The garage also has brand new windows and additional attic area! Yet,
the MAJOR bonus to this home is the not one but TWO additional separately
DEEDED lots. Buy as a package and SAVE! Each lot is separately available for
$65,000. Live in this home and build homes for your loved ones to be close or
sell if you choose! So many options! Located across from Mc Daniels College and
close by to all the amenities Westminster has offer! Prime location, prime lots!!
This is an ESTATE Sale and Sold AS-IS.