LPN Newsletter - Winter 2010
FEATURED ARTICLE - Knowledge & Expertise from LPN
Third Agers and Real Estate - Embrace the Change
By Scott Schillin, LPN New England
Editor's Note: Early in life, Scott Schillin dedicated himself to becoming a concert pianist through discipline, focus, and hard work.
His pursuit of excellence propelled him to performing center stage at Carnegie Hall, presenting "America's orchestra" the Boston Pops,
and producing the premier classical music radio show, "From the Top."
His background managing complex productions serves Scott well in his revitalized career as a Realtor® with Hammond Residential,
Chestnut Hill where he believes that buying or selling a home is not simply a transaction but a life transition.
Whether the real estate market is hot or cold, third age buyers and sellers face the unplanned and unexpected with a unique perspective. Even for those who have moved previously, have done the research and are comfortable with change, going through a purchase or sale of a home after many years is a formidable experience.
What are some unexpected challenges facing sellers?
- Real estate sale prices are lower than they were several years ago. Sellers should expect to list their property for less than they would have in the recent past, and they must be prepared to accept lower offers as well. That is the reality right now.
- Deals fall apart on a regular basis. Buyers are fickle now for they control the momentum. Even when a home inspection reveals no problems whatsoever, buyers sometimes walk away from transactions anyway. Of course this is cyclical and will change in time, but for now sellers have to be patient until the right buyer match is made.
- Getting a property ready for sale is not easy. Because buyers expect listings to be near perfection, sellers must do more than in the past to ready their home for sale. There is essential de-cluttering, organizing, and staging. In addition, if the roof is old, it may need replacing. If the furnace is ancient, that may need replacing also. Sometimes good money must be spent in order to sell quickly to the best buyer and for the best price.
What are some unexpected challenges facing buyers?
- Finding an appropriate place to move takes time and hard work. Downsizing seems logical when planning a move, but there are many issues that arise. Will the new residence be near conveniences that have become necessities? Is there outdoor space? If I buy a condo, what is it going to be like to live physically so near to others?
- Deciding what to bring is very emotional. As a seller, we are told to de-clutter to make our home more marketable. As a buyer, we will have to give up many items with deep, personal, historic meaning because there just won't be enough space in the new home. This can be frustrating but it also can be an opportunity to move ahead unencumbered.
- The move itself is a major project, and projects need management. One should look at all aspects of a move and ask "who, what, where, when, why, and how?" Recognize that the support of others will be necessary, and accept that such support will foster ongoing positive physical and emotional health.
Embracing change is the key to a positive real estate experience for third agers.
One should work toward accepting what we know, what we don't know, what we can control and what is out of our control. Enlist the help of others - family, friends, and professionals, and then move ahead with confidence, self-assurance and with a positive attitude. Embrace the change and then moving on will be extremely enjoyable.
Scott Schillin
sschillin@hammondre.com
617-388-1094
www.scottschillin.com