For Boomers Archives - Page 2 of 44 - St. Paul Real Estate Blog

Sevice has changed

Posted on January 18, 2023January 13, 2023by Teresa Boardman

The meaning of the word service has changed. It used to be all about helping clients and responding to client or customer needs.

I don’t believe that giving clients a questionnaire prior to meeting with them is a service. They do that before medical appointments so the doctor can set the tone and show how little they care about patients as humans.

I think that asking questions that are tailored to the situation is a much better use of my client’s time. Asking each question once should suffice.

I never ask anyone to download an app onto their phone so that they can work with me. For people who want to work with an app, I can make that happen but it isn’t required.

Customer satisfaction surveys are crap. Many businesses state that they are performing a great service when they ask us to fill out a satisfaction survey. The surveys often miss the point or fail to allow us to highlight our extreme dissatisfaction, or are so ridiculously long that I feel as though people should be paid for their time.

There are aspects of customer service that can be automated, like voice mail and autoresponders for email. They both help small companies like mine. I can not always answer the phone or an email immediately but it doesn’t take me long to get back to the people who contact me.

Sometimes I think that businesses believe that they will appear to be more professional if they use a lot of forms and processes. Often when people call with a question the very first thing they get is a series of questions. The processes create unnecessary friction that makes it harder for people to use a service or buy a product.

Nothing says I don’t care about you or have any empathy for your situation like a generic questionnaire. I think that is why doctors’ offices use them so much.

Customer service isn’t about putting people on hold and letting them know that their call may be recorded for quality purposes.

I don’t have any generic clients. Each one is unique and so is each property that I represent or sell. You can call or write and I’ll do my best to provide professional help with your real estate needs.

First Time Home Buyers
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- For Boomers
- General

The heating bill cometh

Posted on December 28, 2022December 28, 2022by Teresa Boardman

Just a heads up. Natural gas prices have quadrupled in the last two years. I just got our utility bill for December. I just want to say “ouch”. The prices are up because demand is high, partly because natural gas is being exported. The natural gas market is global. Low production, sanctions, and war drive prices up.

Natural gas is literally sold to the highest bidder.

Going forward we may need to change to solar-powered heat pumps to heat our homes and businesses. For now setting the thermostat lower, wearing extra layers, and perhaps a part-time job will get us through the heating season.

It might also be fun to research heating from solar-powered heat pumps.

For those who qualify there is an energy assistance program through the Minnesota Department of Commerce. There is also a federal program, Low Income Energy Assistance Program.

Let’s not forget the Minnesota cold weather rule: Minnesota’s Cold Weather Rule (CWR) is a state law that protects residential utility customers from having electric or natural gas service shut off between October 1 and April 30. To protect your service from disconnection you must make and keep a payment plan that you and your utility agree on. The utility must offer a payment plan that is reasonable for your household’s financial circumstances. You can set up a CWR payment plan at any time during the CWR season.

For Boomers
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- Senior Housing

What is an SRES?

Posted on December 13, 2022December 12, 2022by Teresa Boardman

What is SRES? Thanks for asking. SRES stands for Senior Real Estate Specialist. The specialist doesn’t have to be a senior but does have to specialize in real estate for seniors.

It is all actually quite interesting because there really isn’t such a thing as Senior real estate. Older houses are sometimes called “Historic” but never “senior”

There is such a thing as senior housing. Usually, it is housing that people have to be 55 or older to buy or rent. With some housing, a person has to be 62 or better to buy or rent.

The Senior Specialist Designation is through the National Association of Realtors. It is an area of study. Once the course is taken as I recall there is a test.

I have had many clients over the years who are 70 or older. I think my oldest client was in her early 90’s. There is no one size fits all housing solution for people who are over 55. It mostly depends upon what kind of a lifestyle the person has or wants.

Health and money weigh into the equation too. I have worked with a few people who are blind or almost blind. Some seniors like to jog and others don’t want a house where there are stairs to climb.

Sometimes families need help with a house that they inherited from a loved one. I have experience with that both as a family member and as a Realtor.

Some of my older clients have downsized while others have purchased larger homes. Sometimes it takes a larger house to meet the needs of a few generations.

Listening is the most important skill for working with seniors. It is best not to make any assumptions about the size, and style of a house a person might want.

I just renewed my SRES membership for another year. Feel free to call or write with questions. Boardman Realty is woman-owned and operated and I suppose technically we are senior citizens too.

Downsizing can be a challenge but we have done that ourselves and have helped family members and clients do the same. In fact sometimes I think about writing a book on how to pack up a life and move away.

For Boomers

You can do it – retire mortgage free

Posted on November 22, 2022November 20, 2022by Teresa Boardman

In 2020 according to Zillow, 37% of Americans own their homes free and clear. The number went up by 5.5% after the great recession. In 2017 41% of baby boomers owned their homes free and clear. For seventy-year-olds, an estimated 68% are mortgage-free, in 2022 that number grew to 70%.

I have read tons of advice over the years that suggests paying off a mortgage isn’t a good idea. It makes sense that if paying off a mortgage means using up savings and retirement accounts it probably isn’t a good idea. Other debts should be paid off first, especially credit card debt.

Owning a home free and clear means lower housing costs during retirement. Those property taxes are killer but still lower than renting or paying taxes and making mortgage payments.

It might even be possible to retire without having saved up a million dollars by owning a modest home that is paid for and no debt.

There are some psychological benefits of not having to make house payments. It can be liberating. Something to consider when planning for retirement.

For Boomers

You can make your house smarter

Posted on September 12, 2022September 12, 2022by Teresa Boardman

My house was built in the mid-1800s. In fact, it was built without central heating, electricity, central air conditioning, or plumbing. The house has all of that today and more.

It was built before the modern washer, dryer, refrigerator, or dishwasher were invented. I wouldn’t even want to guess how many different refrigerators were used in my old house over the decades.

They didn’t even have wifi in the 1800s but we have it today. We had cable for a time and a landline-type phone too. I wish we still had the old TV antenna but we make do with a digital antenna.

We have added some smart technology over the years. There are some smart electrical outlets and light bulbs too.

I have one of those smart thermostats that I can control with an app or by voice the Amazon Echo. I don’t have to be at home to know what the temperature is in my house or to change the temperature.

There is a camera in my office that I can access from anywhere and I can be alerted if there is motion in the room.

I am interested in upgrading some of the locks to smart locks. There are an almost overwhelming number of choices. I can see the benefits of moisture detectors too.

As we add smart devices to our homes those devices will become obsolete and will need to be replaced with newer devices or some other kind of technology altogether. It wasn’t all that long ago that central vacuums and built-in speakers were all the rage.

You don’t have to buy a new house to have smart home technology, which is a good thing because not many new houses are being built and those that are being built are very expensive and the houses in St. Paul are very old.

There are fewer protections for cash buyers

Posted on August 16, 2022August 15, 2022by Teresa Boardman

Paying cash for a house makes the whole process faster, easier, and less expensive. Partly because there are fewer protections. An appraisal is not required and neither is any kind of an inspection. To be eligible for most types of financing a house has to be “livable”.

Mortgage lenders protect themselves and by extension the home buyer.

Having a complete home inspection is important. Cash buyers rarely have the property appraised but they could.

The financing addendum will usually give buyers an out if they can not get the loan to pay for the house. They get their earnest money returned. Cash buyers may end up having to forfeit their earnest money if something goes wrong and they can not close.

Cash buyers should make sure there is a title company involved in the purchase and buy title insurance. Working with an experienced real estate agent is recommended.

All cash sales are becoming more common and account for at least 25% of purchases.