Seniors Real Estate Specialist SRES
Seniors Real Estate Specialist SRES designees are REALTORS® qualified to address the needs of home buyers and sellers age 50+.
As a Seniors Real Estate Specialist SRES Jesse Madison has demonstrated an understanding of the situations facing senior homeowners in today’s real estate market.
As a senior Real Estate Specialist SRES broker Jesse understands the growing need for Senior homeowners to find suitable housing that meets their needs.
Some seniors opt to find aging in place solutions. AARP survey found this number to be greater than 80% of seniors who want to remain in their homes. These seniors try to modify their existing home to suit their needs. This can involve numerous modifications to include:
- Shower bars
- Ramps for wheel chairs
- Bedroom conversion for downstairs bedroom
- Toilet and bathroom modifications
- Removing cabinetry under sinks
- Walk in tubs
- Removing barriers to shower entry
- Elevators and more!
On the other hand many Seniors face health issues and are forced to move to a more suitable location closer to superior healthcare facilities, assisted living or closer to family. Many families choose to move in together with their aging parents to facilitate homeware for aging parents.
As families face these life changing scenarios they also can often discover they are faced with time constraints. This may be due to health issues or also owner occupancy limitations put on by reverse mortgage guidelines.
Reverse Mortgages are something many seniors do not understand when they decide to refinance their homiest reduce their payments. In a reverse mortgage a senior household can use the equity in their home to eliminate having to make their mortgage payment each month. This is attractive to most seniors. But when they have a health crisis, accident or decide to move to be closer to loved ones many of them do not know that they can no longer continue with a reverse mortgage on the property when they do not live in the property as their primary residence. In fact, they are not permitted to rent out the property either as they have a maximum time limit of 12 months before the bank will foreclose on the property if the property is no longer the borrowers primary residence.
So the senior borrowers are forced to sell the property with time constraints. If it does not sell in 12 months the home will be foreclosed on and the senior borrower could lose all the equity they have in the home. This becomes a major issue and added stress to a home seller. Especially when there are health issues affecting the senior borrower who now suddenly has to sell their home quickly.
Jesse Madison at One Point Plus Real Estate has assisted many Senior homeowners sell their home quickly when faced with these Reverse Mortgage time constraints. Call today for a free analysis of your situation. As a Senior Real Estate Specialist SRES Designated Real Estate Broker, Jesse can help you reach your goals when buying and selling properties in Orange County, CA.
Make sure you consult a Seniors Real Estate Specialist SRES. Call Jesse Madison at 949-306-8416 or email JMadison.firstname.lastname@example.org