Our first speaker today was Genie Reynolds from Magic Genie Realty and Property Management in Lakewood, Colorado. Today Genie first wanted to discuss some of pitfalls happening in the real estate industry. The number one item Genie wanted to talk about was the reverse mortgage programs available from many different lenders. In a reverse mortgage you get money from the lender secured by a mortgage, in which the principle and interest are not due until you sell the home, pass away or fail to pay the property taxes and/or hazard insurance premiums. The problem is that with many elderly couples they get the reverse mortgage when only one member qualifies, in the fine print it states that once the signer on the account dies the account becomes due and payable. Many couples either forget to update the reverse mortgage or the qualifying spouse passes away before the other spouse reaches qualifying age. Many of these homes are now falling into foreclosure because of these issues. The surviving spouse is often on social security and has no additional income. The case that brought this to the forefront was a 92 year old woman whose husband passed away and she was put into foreclosure because her name was not anywhere in their mortgage documents. While both her and her husband applied for the reverse mortgage and she was left out of the documents. So Genie’s word of warning read all your documents and no matter how reputable the mortgage company is to make sure everything is correct. Another pitfall Genie wanted to discuss with us was what are called a “rogue agents”. These people are usually found on Craigslist – one case happened in Atlanta where a woman contacted an agent about a three bedroom home, she paid the agent a deposit of $750 and when she went to move in the home was already under contract and she was locked out. She tried to contract the agent and found the phone was disconnected. Renters should always check on the property they are looking to rent and verify that the property is represented by the agent they are dealing with and any payments should be made to a company not an individual. The main thing Genie wanted to tell use is that when renting go through an established agency not Craigslist.
The last item that Genie want to discuss with us was the current housing market her in Colorado. The inventory of homes on the market in January was 7094 – the lowest month end on record since January 1990. Yet the weekly sales rate was 14.43 and that was the highest on record for that same time period. Something to keep in mind is that January is generally than December however in this case the number of homes placed under contract was up 43% month over month. This means that the Denver market is gaining strength and is occurring throughout the metro area. Chala Mohr will be taking over Genie’s membership in the future, so if you are looking for a realtor or property management take a look at Magic Genie Realty & Property Management you have experience in the Denver market to help you either find the home of your dreams or the tenants you need!
Our second speaker was Ann Allen for Home Instead Senior Care in Arvada, Colorado. Ann spoke today about the services offered by Home Instead Senior Care. First Ann told a about their caregivers and what sets them apart from other home care companies. The caregivers must complete a thorough multi-phased training program that helps them respond to situations unique to this type of work. They also occasionally perform quality assurance visits to the client’s home to ensure that the caregiver is providing the service the client needs. The services that Home Instead Senior Care offer start with personal services like grooming, bathing, mobility, cognitive awareness, dressing and incontinence. They also offer their home helper services which include dropping off and picking up dry cleaning, assisting with pet care, attending club meetings and sporting events, escorting to appointments, going shopping and picking up prescriptions. They will also help around the house by dusting, preparing meals and clean up, doing laundry, taking out the garbage and organizing closets around the house. They are limited in not being able to give medication but offer some other essential services such as monitoring diet and making sure the client is eating and providing medication reminders. They also offer companion services that include playing games, helping with bills and the mail, aid with reading, discussing the past and historical events, stimulating mental awareness, offering conversation and companionship and help with home maintenance. These are all services that can help to keep a parent or elderly relative in their home with comfort and safety. Home Instead Senior Care offers professional care with a personal touch and thoroughly screened and trained caregivers. They are committed to understanding their clients on an individual and personal level to learn about their current needs and work to anticipate future needs so they can be addressed ahead of time. They understand that this can be an overwhelming decision and Home Instead Senior Care’s staff will have a one on one consultation with you to discuss the specific needs of the client and the variety of care options that are best suited for the situation. If you are looking for a home care company that will care for all the needs of your loved one give Home Instead Senior Care.
Ann Allen * Home Instead Senior Care * 303.463.1900 * firstname.lastname@example.org * www.homeinstead.com