SRES® Blog

The Source of Remorse

The Source of Remorse

Yes, buyer's remorse is real. So says a Bankrate survey that reveals the common regrets of recent homebuyers. Though Millennials have the most regrets–64% of those ages 25-40–about a purchase's physical and financial aspects, 33% of baby boomers (ages 57-75) have disappointments too. The extreme pressure of the fast-moving market is likely a contributor, given that buyers often are fighting to win bidding wars and have little time to contemplate their purchases. Among the top disappointments are high maintenance and other costs, too-high monthly mortgage costs, not getting the best mortgage

A Strategic Downsize: 9 Questions

A Strategic Downsize: 9 Questions

Maybe you’ve started thinking that now would be a good time to downsize to capitalize on this fast-moving, post-pandemic market. Realtor.com offers nine questions to ask yourself to better identify what you want next and the implications of a move. Financial considerations, for example, include looking at taxes, insurance, and renovations to the new home, and factoring in HOA fees, if you’re opting for a condo or townhouse community. Also, tally all the costs – including real estate transfer taxes, real estate commissions, and so forth – of selling your current home. Where to move is another

Pandemic Drives Multigenerational Living

Pandemic Drives Multigenerational Living

Has the pandemic has made you reevaluate your living arrangements? Are you considering establishing a multigenerational household or continuing to maintain an existing one in your post-pandemic life? You’re not alone. The lifestyle option is gaining ground. For one, it can benefit every generation by minimizing seniors’ sense of isolation (https://on.wsj.com/3dvcnAZ), helping millennials who are struggling with student loan debt, allowing grandkids to bond with grandparents, and giving baby boomers a hand either financially or with childcare or both. The National Association of REATORS® looked

Apartment Therapy’s Step-by-Step for a Spring Deep Clean

Apartment Therapy’s Step-by-Step for a Spring Deep Clean

Whether you want a sparkly house to celebrate the arrival of spring or you’re getting your home ready for sale, look to Apartment Therapy. Its free Spring Cleaning Cure (https://bit.ly/3qCkCQa) is designed to help you tackle your deep cleaning to-do list one project at a time over 20 days. Starting on March 15, you’ll get a daily cleaning assignment emailed to you after signing up. Apartment Therapy is expert at breaking down big, intimidating projects into small daily tasks that add up to a big payoff in the end. You may have done its January 30-day challenge—the purging and organizing

Where’s My Second Stimulus Check?

Where’s My Second Stimulus Check?

Remember the coronavirus relief package passed by Congress in late December? It included a second round of Economic Impact Payments. According to the IRS, eligible individuals will automatically receive an Economic Impact Payment of up to $600 for individuals or $1,200 for married couples and up to $600 for each qualifying child. The money started landing in people’s accounts on Dec. 29, 2020, and paper checks started mailing on the 30th. But if you’ve not yet received a direct deposit or a check, you have a couple of options. First, visit the IRS’s Get My Payment site (https://bit.ly/35RO4cf)

Mortgage Relief Options During COVID-19

Mortgage Relief Options During COVID-19

Financial problems can lead a person to be physically and emotionally ill. Many of us have been in a position when affording the mortgage or making it to the next payday were real concerns. Worrying about money can wreck a person’s well-being and a pandemic only adds to the problem. Being informed of the mortgage process and the ever-changing rules granted as a result of the pandemic is a great way to serve your clients’ needs. Many people have lost jobs or taken pay cuts due to the current health crisis. Luckily, there are options for relief out there, but some people do not know what steps

2021 Retirement Plan Contribution Limits

2021 Retirement Plan Contribution Limits

Now is the time of year when you’re taking a hard look at your financial picture and developing a plan for the year. Before you start, check the all-important Internal Revenue Service (IRS) contribution limits for 2021. For details, visit the IRS site at https://bit.ly/3mUplK4 and https://bit.ly/2JpWZK5. For individuals contributing to a 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan, the contribution limits stay at $19,500. For those over the age of 50, the catch-up contribution stays at $6,500. The maximum contribution limits for individual retirement

Avoid reverse mortgage shopping scams

Avoid reverse mortgage shopping scams

The COVID-19 pandemic has affected many Americans’ financial and retirement plans. If you’re a homeowner over age 62, you may be thinking about a reverse mortgage. A reverse mortgage is a loan that allows older homeowners to use the equity in their homes. Unlike a traditional mortgage, there is no monthly mortgage payment, and the loan is usually repaid when the borrower sells or no longer lives in the home. As a result of the economic uncertainty caused by the COVID-19 pandemic, scammers may be targeting older homeowners through reverse mortgage schemes. These schemes can include: A trusted

Tool Scores Risk of Holiday Visits in Light of COVID-19

Tool Scores Risk of Holiday Visits in Light of COVID-19

With public health organizations all but begging the public to stay home this holiday season, people are grappling with how to celebrate Chanukah, Christmas, Kwanzaa, and the new year safely. How risky is it to visit grandma for a holiday visit during this COVID-19 pandemic? Test the danger by using “My COVID-19 Visit Risk” (https://bit.ly/33xoisJ), a new online tool developed by Toronto, Can.-based Ryerson University National Institute on Ageing. The tool relies on scientific evidence and input from experts in infectious diseases and epidemiology and walks you through a series of questions to

When Does Your House Stop Being Your Home if You Have to Apply for Medicaid?  

When Does Your House Stop Being Your Home if You Have to Apply for Medicaid?  

Medicaid is a state and federal program which pays medical costs for low-income adults with or without children. Medicaid also covers people aged 65 and older, blind or disabled, or pregnant and cannot pay their medical bills. However, most people do not realize that Medicaid also pays for nursing home care as well. For seniors who require long-term care and meet the financial eligibility criteria, Medicaid has a program which covers long-term care and pays for almost 100% of their nursing home costs. To qualify for Medicaid, you must have under a certain amount of non-exempt assets. In 2020