Many elderly Americans once planned to sell their homes to finance their retirement care. But with both home values and investment portfolios shrinking, Seniors are now struggling to cope.
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Father Time® Auctions Senior Service staff Cathy Roesch
and Rick Bauer provide Home Selling solutions to Seniors |
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As reported in the New York Times, US News and World Report, and elsewhere, many seniors facing the prospect of long term care are unable to pay for their care today owing to the depressed real estate market. These aren't the classically poor seniors who've traditionally turned to Medicaid under these circumstances. Rather, these are elderly whose primary homes are their largest store of wealth, and they've planned on selling that primary home when the time was right and exchange the proceeds from that sale to secure a place in a senior living center or retirement home.
Facing what is perhaps the worst housing market since the Great Depression,
most seniors will find it almost impossible to find buyers for their outdated homes. And, with the current glut of unsold houses in many markets, even reducing the asking price may not solve the problem.
Need for Sale Results Now - Selling "As Is"
Relying on traditional real estate sales methods to sell their existing homes has in many instances failed to produce results. The problem with this strategy, of course, is that elders' homes are frequently antiquated or need substantial repairs and renovations in order to make them marketable. Outdated wallpaper, old appliances and poor maintenance, all characteristic of these houses, often deter buyers. In other words, these homes, which their owners logically considered would be their guarantee of worry-free living virtually indefinitely, are literally unmarketable as-is.
This is where a real estate auction strategy makes the most sense. Sell the house
"AS IS" to a ready and willing buyer free of contingencies, repairs and sales commissions.
You can trust Father Time® Real Estate Auctions to offer expert guidance, advice and advocacy for your Senior real estate options.
Learn more:
Call Rick Bauer, CRTS, Realtor, GRI for a free assessment at 314-962-4200 or write
rbauer@fathertime.com
Home Office:
Rick Bauer, Auctioneer, AARE, CES, Realtor, GRI, CRTS, CAGA
Paul Roesch, Auctioneer, AARE, CES, Agent, CAGA 618-407-8479 cell
Certified Distressed Property Experts, CDPE
FatherTime® Auctions
2850 Lawndell Drive
St. Louis, MO 63144
314-962-4200 office
314-614-3841 mobile
314-962-2573 fax
rbauer@fathertime.com
www.fathertime.com
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National Auctioneers
Association |
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Illinois State
Auctioneers Association |
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Missouri Professional
Auctioneers Association |
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Realtor |
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Realtor Graduate
Realtor Institute |
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Certified Appraisers
Guild of America |
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Accepted Credit Cards |
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