Boomers Should Know Dangers of Reverse Mortgages

by botmblog on July 1, 2009

Many of you reading this blog may have senior parents that are living in the same home they’ve lived in for many years and do not want to move, but for whatever reason they need money for bills, medical expenses, etc. One way that some people are getting this money is through reverse mortgages. Ideally you should look at reverse mortgages with a fair amount of caution, and be aware of what the disadvantages of reverse mortgages are and try to help your parents make the right decisions about reverse mortgages. [click to continue…]

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New Home Construction Process

June 12, 2009

For some, building a new home in which to enjoy retirement is the ultimate dream. There’s not much more exciting in real estate than picking a lot, choosing or designing a floorplan, making your interior design selections, and seeing it all come together right before your very eyes.

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Maintaining Your New Home

June 11, 2009

You may think that once you’ve moved into your brand new home in a new retirement community that your work is done. This is only partly true. There are several things you should do after you move in to keep your home looking and operating like new.

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Real Estate Closing Basics for Boomers

June 10, 2009

There are costs other than the sales price that are incurred in your real estate purchase in a retirement community. As the buyer, your share of these costs will typically range from 1% to 2% of the sales price. The closing costs that you pay will be a function of a couple factors including what [...]

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New Home Walkthrough Checklist

June 9, 2009

The walkthrough, or new home orientation as it is sometimes called, is one of the most important phases in the construction of your new home. It is a time for you to meet with the builder and let him or his representatives acquaint you with your new home and all of its components.  The walkthrough [...]

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Real Estate Financing for Retirees

June 8, 2009

Real estate financing, for the most part, is no different from state to state. However, if it has been a few years since you last went through the process of getting a mortgage, you could use some refreshing on the world of real estate finance before placing an offer and purchasing a new home in [...]

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Negotiating With Home Builders and Developers

June 7, 2009

With most purchases we make in our daily lives, negotiation is usually not part of the transaction. We don’t try to haggle with the barista at the corner coffee shop over the price of our grande white mocha, no whip, with non-fat milk. Because of this, when we go to purchase big ticket items like [...]

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IRS Goes After The Villages

June 6, 2009

I’ve written quite a bit on this blog about The Villages, the popular retirement community in Central Florida. I’ve also written a book for those thinking of buying in The Villages and wanting to learn more about it, titled “Complete Guide to The Villages Florida”.
One of the reasons The Villages is so popular among baby [...]

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Retirement Community Home Inspections and Warranties

June 6, 2009

Home inspections and home warranties are two tools available to you that will help to ensure that the present and future condition of your new home is satisfactory. Before finalizing the purchase of a home in a retirement community, you should always have a home inspection done. This point cannot be stressed enough. A home [...]

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Retirement Community Homeowner’s Insurance Basics

June 5, 2009

In addition to the obvious need to protect your investment, the ability to get homeowner’s insurance is of utmost importance when getting a mortgage on your property. No mortgage company will loan you money on a home in a retirement community without you first having insurance on the property. In some instances your mortgage lender [...]

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