REALTORS® see ‘snowbirds’ take flight across region

As the air chills down this week, and the leaves turn their vibrant fall hues, many active retirees have chosen to be “snowbirds” and are packing up their Spokane residences, heading for their winter home in warmer southern regions. With the uncertainty in today’s economy, perhaps this would be a good time to think about downsizing your Spokane residence to help ease the cost and maintenance, and consider owning multiple homes.

Every day, 10,000 Baby Boomers celebrate their 60th birthday. As we age, we demand specialists in our health needs, so why not in our housing and equity needs as well? Reflecting the growing significance of the over-50 market is the fast-growing Seniors Real Estate Specialist (SRES) program, the professional certifications and designations offered by the National Association of REALTORS®. The designation identifies REALTORS SRES ® who have completed coursework in and have experience serving the over-50 market. More than 15,000 NAR members have earned the designation to date.

Why are 50-and-better clients moving? Home buyers, sellers and renters who are over 50 have an array of options. To be closer to grandchildren. To start that business they’ve always dreamed of. To address health concerns. To downsize and streamline home maintenance. To travel more. If you have earned your place in this “Boomer” demographic, will you opt for upscale condo living, do you intend to age in place, are you considering 55-plus communities, or will you possibly have a “snowbird retreat” waiting each fall in a warmer resort climate?

Who Are the Seniors Real Estate Specialists®?

To help you accomplish these goals, the Spokane Association of REALTORS® wants readers to know that Seniors Real Estate Specialists® (SRES) are REALTORS® qualified to address the needs of home buyers and sellers, age 50-plus. By earning the SRES designation, your REALTOR® has demonstrated the necessary knowledge and expertise to counsel clients through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life-changing decisions.

An SRES designee can help you make wise decisions about selling the family home, financing, buying rental property, or managing the capital gains and tax implications of owning real estate, among many other issues. In addition to guiding clients to the right experts on tax laws, probate, estate planning, and a variety of equity conversion strategies, Seniors Real Estate Specialists® can offer clients relevant information on current trends in senior real estate transactions.

Your Seniors Real Estate Specialist® has:

•Learned the application of federal laws for Housing for Older Persons Act (HOPA);

•Established reputable services as a trusted real estate advisor;

•Pledged to act in accordance with the REALTOR® Code of Ethics;

•Assembled a team of experts to help serve 50-plus clients and customers;

•Been educated on the uses, benefits, procedures, and issues involved in reverse mortgages;

•Learned about the uses of pensions, 401k accounts, and IRAs in real estate transactions;

•Gained an understanding of how Medicare, Medicaid, and Social Security impact 50-plus real estate decisions;

•The ability to help clients integrate disposition of real property into estate plans;

•The knowledge to recognize mortgage finance and loan schemes and scams that victimize 50-plusborrowers.

SRES REALTORS® have the expertise and experience to help senior buyers and sellers protect what may be their largest lifetime investment. A national program since 1998, Seniors Real Estate Specialists® are found in all 50 states and Canada. For more information, visit www.seniorsrealestate.com or www.retirementhousingonline.com.

Through membership in NAR’s affiliated institutes, societies, and councils, Spokane REALTORS® stay abreast of the most recent trends in their fields, remain well-informed of industry developments in their specialized areas, and address industry issues more effectively. Contact a Spokane REALTOR® today.