Portland Real Estate Pending Oregon Legislation Affecting Seniors

February 22, 2012 in Legislation | No comments

The other day I wrote a post about the Oregon Legislature reconsidering the senior property tax deferral program for those with reverse mortgages.

Portland Real Estate Pending Oregon Legislation Affecting Seniors

Here’s a recent post from another blog with summarizes some legislation that is important to seniors and boomers that also includes reference to the senior property tax deferral.

Pending Oregon Legislation

The Elders in Action Commission is a citizen advocacy group that advises Multnomah County Aging and Disability Services, the Multnomah County Board of Commissioners, and the Portland City Council on the concerns and needs of older adults in our community. For over 40 years, this dynamic group has shaped aging policy in city, county and state government through strong advocacy by active commissioners.

Balance the state budget while also protecting Oregon’s heralded system of long term care programs and supports that ensure independence, choice, and dignity for aging Oregonians.

Help struggling senior homeowners by readmitting them into the Senior Property Tax Deferral program until more thoughtful changes can be made to the program in the 2013 session. No senior with a reverse mortgage should have their home foreclosed while this issue is still being discussed in the Legislature.

Strengthen Oregon Project Independence, our most cost-effective solution for keeping older adults out of higher cost levels of care, and keeping them independent in their own homes where they wish to remain.

Support SB 1567 which will appropriate money from the General Fund to the Oregon Health Authority to provide Senior Farm Direct Nutrition Vouchers to 6,000 low-income seniors this spring. This not only helps the senior hunger and nutrition issue we face in Oregon, it helps local farmers and keeps these dollars circulating in Oregon.

Support HB 4084 which creates a crime of assault in the third degree for intentionally or knowingly causing physical injury to elderly persons. Elder abuse is a troubling issue in our communities, and this is the first step in bringing it out of the shadows.

Fix Oregon’s boom-or-bust revenue cycle be eliminating the kicker refund and creating a robust Rainy Day Fund that protects our vital services from cuts when times are hard.

Source: Elders In Action

PORTLAND REAL ESTATE BUYER’S AGENT

Looking for a home in Portland or another area? I’d love to be your buyer’s agent, please give me a call at 503-804-9685. You can start your search here by address, area, neighborhood, MLS#, etc. for your new home.

ALL ABOUT…..Seniors.Boomers And Small Houses. © Copyright 2008-2012. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

Lake Oswego Real Estate Condolea 55+ Neighborhood Stats

February 21, 2012 in 55+ Neighborhood Stats, Real Estate Stats | No comments

Lately, I’ve been posting information about the different 55+ neighborhoods in and around the Portland metro real estate market. Recently I wrote about the King City and Summerfield neighborhoods here on this ALL ABOUT…..Seniors.Boomers and Small Houses blog.

The Condolea condos (townhouses, attached) is the only designated 55+ neighborhood that I am aware of in Lake Oswego. However, I am verifying whether it really is one with the Mt. Park Homeowners Association to make sure. In checking the MLS listings of sold properties, some say it is a designated 55+ area and others have no mention of it in the MLS listings.

Lake Oswego Real Estate Condolea 55+ Neighborhood Stats

Both 2010 and 2011 were better years for the Condolea condos in Lake Oswego (Multnomah County) than 2009. However, as the Portland real estate market continues to improve, there will most likely be more seniors and boomers wanting to downsize to these types of units.

NEED ADDITIONAL INFORMATION ON THE CONDOLEA NEIGHBORHOOD OR CONDOS FOR SALE?

Give me a call at 503-804-9685 and I can get you that information. Or, if you are a homeowner and are wishing to sell your Portland home, I’d be happy to prepare a market analysis for you to determine your home’s value.

Oregon To Reconsider Senior Property Tax Deferral Program

February 20, 2012 in Real Estate Property Taxes | No comments

There were many seniors eliminated from the Senior Property Tax Deferral Program due to obtaining a reverse mortgage.

(Photo Credit: knol.google.com)

Oregon To Reconsider Senior Property Tax Deferral Program

Now the Oregon Senate is reconsidering that action.

Just because a senior has a reverse mortgage on their home doesn’t mean they also have additional income. Gaining income was determined by how much equity was in the home and what the current value was at the time they obtained the reverse mortgage. Over 1,600 seniors and those with disabilities were dropped from the senior property tax deferral program if they had a reverse mortgage.

New Rules?

Lawmakers are now considering a measure that would allow people to stay in the program for two years if they were dropped from the program solely because they have a reverse mortgage.

Frankly, I don’t know what difference it will make to some seniors if they can remain in the program for an additional two years. That makes them two years older and most likely unable to earn additional income to pay for their property taxes.

Vote To Occur Next Week

The Senate will vote on the new proposal next week.

Thinking of selling your home this Spring? Want to know what housing options you might have? Give me a call at 503-804-9685 and we can discuss your situation.

Portland Real Estate Blog Seniors Wanted In Clackamas County

February 16, 2012 in Education | No comments

Are you a senior? Do you love to intereact with children and have some time on your hands? (Photo Credit: nj.com)

Portland Real Estate Blog Seniors Wanted

There are mentoring opportunities available for seniors at the Gladstone Center for Seniors and Families.

Grant Award To Gladestone Center

A Babies and Boomers grant of more than $25,000 was awarded by the Oregon Community Foundation, an organization to the Gladstone Center for Seniors and Families that does “amazing work helping better people’s lives.

The purpose of the grant is to “engage baby boomers in volunteer activities to promote school readiness in young children.” Although the center welcomes volunteers of all ages, the grant is aimed at those born between 1948 and 1964.

Portland Real Estate Blog Seniors Wanted In Clackamas County – Volunteer Opportunities

The Gladstone Center for Children and Families, located across the street from Gladstone High School in the old Danielson’s Thriftway store, provides education services to children from birth through kindergarten, through Head Start, Healthy Start, Clackamas County ESD and seven other agencies.

Three kindergarten classes, one all day and two half day, serve 124 students at the site.

The center is hoping to get baby boomers to come to the center to share their life-experience skills from years of working and living, and there are many ways for the boomers to engage with children.

Gladstone Center for Children and Families is open to ideas, and noted that volunteers can be one-on-one mentors, reading buddies, classroom assistants and playgroup facilitators, among other things.

The kindergarten teachers need people who will come in and work with small groups in reading, math, art, cooking, gardening, drama, music and cultural awareness. People can also share parenting skills and go on welcome baby visits with Healthy Start.

There is plenty of science to show “that the way children interact with adults is crucial in laying the foundation in early childhood for future learning, behavior and success in school.”

Want More Information?

Contact Information:

Gladstone Center for Children and Families, 18905 Portland Ave., Gladstone
Call: 503-496-3939
Office Hours: Monday through Friday, 7:30 a.m. to 3:30 p.m.
Contact: Susan Trone at the above number, or by email at trones@gladstone.k12.or.us or visit the website at gladstone.k12.or.us/gccf.html

Portland Real Estate Neighborhood Stats Claremont

February 9, 2012 in 55+ Neighborhood Stats, Real Estate Stats | No comments

Portland Real Estate Neighborhood Stats Claremont

About Claremont

Portland Real Estate Neighborhood Stats Claremont.allaboutportlandoregonrealestate.com

Claremont is a designated 55+ neighborhood that includes a 9-hole challenging golf course. The area has single family houses, condos and townhouses for sale.

The Claremont neighborhood is located in the Bethany area of NW Portland and was developed in 1990. In 1992 Claremont’s Golf Club was started and in 1994 the Claremont Women’s Club. The amenities at Claremont include a 12,000 square-foot clubhouse, swimming pool, croquet/lawn bowling court and tennis courts. Residents of the Greens also enjoy a smaller clubhouse (the Terrace House and swimming pool and an 18-hole putting course.

There are 4 neighborhood associations in this Portland 55+ neighborhood: Claremont Civic Association, Claremont Greens Association (consists of 168 single-family residences and townhomes on the east side of Bethany Boulevard), the Claremont Townhome Association and the Greens Townhome Association. A total of 556 homes are included in Claremont. Of those, about 100 are townhomes.

Portland Real Estate Neighborhood Stats Claremont

Claremont is a higher priced neighborhood than both the 55+ King City or Summerfield neighborhoods. And, like many, or rather most of our Portland real estate markets, values decreased in the last three years. Condos and townhouses seemed to have fared better than the single-family houses in the Claremont neighborhood in the last three years. However, even the townhouses and condos saw a significant decrease in value during the last two years from the higher prices seen in 2009.

Need additional information on the Claremont neighborhood or houses for sale in Claremont?

Give me a call at 503-804-9685 and I can get you that information. Or, if you are a homeowner and are wishing to sell your Portland home in Claremont, I’d be happy to prepare a market analysis for you.

Portland Real Estate King City Neighborhood Stats

February 3, 2012 in 55+ Neighborhood Stats, Real Estate Stats | No comments

I wrote a post the other day showing the stats for the Summerfield 55+ neighborhood in Tigard. Today I’m posting the King City neighborhood stats.

King City is a 55+ neighborhood with lots of amenities and sits across Highway 99 from the Summerfield 55+ neighborhood in Tigard, and it is a designated 55+ community and has it’s own City Hall and police force. I will be writing more about King City in an upcoming post.

Portland Real Estate King City Neighborhood Stats

Compared to the Summerfield 55+ neighborhood, King City is quite a bit less money. In 2011, the condo (townhouses,attached) properties took twice as long to sell than they did in 2009 during the height of the housing crisis. And, prices for both the single family houses and the condos (townhouses, attached), decreased considerably from 2009 as well.

If you purchased real estate in King City in 2011, you most likely were able to purchase at at good value. In posting stats from other areas around Portland, Lake Oswego and West Linn, most of those communities had more drastic price decreases in 2010, however, that wasn’t the case in King City as 2011 seemed to be the year King City was hit with declining values.

Want To Buy Or Sell In A 55+ Neighborhood?

Down-sizing for seniors and boomers to smaller homes or condos seems to be the trend. If you’re thinking of selling or purchasing in a 55+ community, give me a call at 503-804-9685.

State Of Oregon Senior Property Tax Deferral Hearing February 3

February 1, 2012 in Real Estate Property Taxes | No comments

I’ve been writing about senior real estate property tax deferrals for a while now. This Friday, there will be a 4-hour public hearing regarding the State of Oregon’s Senior Property Tax Deferral program.

State Of Oregon Senior Property Tax Deferral Hearing February 3, 2012

The House Revenue Committee will hold a 4 hour public hearing starting at 1 p.m. at the State Capitol in Salem. Advocates say they want to bring a bus load of homeowners eager to share their stories.

Many To Be Left Out In The Cold Regarding Senior Property Taxes

For the past 40 years, the State of Oregon allowed seniors to defer property taxes. Now, approximately 1700 seniors with reverse mortgages will no longer be allowed to participate in that real estate property tax deferral program.

This discussion started quite a while ago with many seniors being denied deferring their real estate property taxes for the 2011-2012 tax season.

Further, the State of Oregon has been sending out letters telling those seniors they owe the State of Oregon those deferred back taxes.

At issue is whether seniors have a reverse mortgage on their home.

Reverse Mortgages Don’t Allow Deferring Real Estate Property Taxes

The 2011 Legislature borrowed $19 million to cover November’s tax bills. Then lawmakers wrote more restrictive rules for a program they admitted they’d long ignored.

The biggest change for many was that properties with reverse mortgages, which allow seniors to convert some of their home equity to cash, would no longer qualify, because legislators were concerned there wouldn’t be enough equity left to repay the state fund.

Statewide, the Oregon Department of Revenue says, about 5,000 homeowners have been approved for the tax deferral, down from more than 10,000.

About 1,700 homeowners who qualified for the program previously no longer qualify because they have reverse mortgages. About 300 others who submitted new applications were turned down for the same reason.

State Of Oregon Senior Property Tax Deferral

Under the old rules, homeowners qualified for the program if they were disabled or at least 62 years old and could prove their annual taxable income was no more than $39,500. The idea was that the taxes would be paid back, with interest, after the homeowner sold the house, refinanced or died.

In fall 2010, the State of Oregon’s Revenue Department said there wasn’t enough money in the fund to pay $20 million owed to counties. A number of factors created the shortfall, including a collapsed housing market and a 2008 legislative decision to take $14.2 million out of the fund to pay for other senior programs.

Collecting Unpaid Real Estate Property Taxes

The State has also sent out letters to Oregon homebuyers indicating those deferred property taxes need to be repaid. There are some seniors who unfortunately, will be facing huge bills.

Need to sell your property because you are unable to pay your deferred property taxes? Give me a call at 503-804-9685 and I can help.

Seniors And Boomers Buying Retirement Homes Before Retirement

January 28, 2012 in Senior Housing Options | No comments

Because of low interest rates and some great values in our Portland real estate market, I’ve sold retirement homes to seniors and boomers before retirement. I have written about this before on my ALL ABOUT…..Portland.Oregon.Real Estate blog. Recently I saw an article on this topic and thought I would share here on my seniors and boomers Portland real estate blog what some of my buyers have done in planning their retirements.

Seniors And Boomers Buying Retirement Homes Before Retirement

I’ve sold seniors and boomers their future retirement homes long before they had planned on retiring. It is not as uncommon as you might think.

One out of state buyer purchased their retirement home in Portland to be close to their children when they retired. They maintained their retirement home as a rental and ultimately retired before they had planned.
A buyer found their retirement dream home before they were ready to move. But because it was exactly what they had been looking for, and retirement was only a year or so away, then we went and sold their existing home and they moved into their retirement home earlier.
Another future retirement home was purchased by a Portland buyer who wanted to live out in the country on a large piece of property. He purchased the home to eventually tear down and build his dream home. Currently, one of his children is living in the home.
Hospital, doctors, etc. all become important as we age. Another out of area couple purchased a Portland condo with easy transportion to OHSU and their doctors. They maintained their out-of-area home until they were ready to move to Portland but all the while kept the Portland condo vacant. They made some weekend trips and the condo provided them with a place to stay without having additional hotel costs. ‘
Out of state buyers have also purchased rental homes in the Portland metro area’s real estate market. Many have sold those rental properties when they were ready to retire and then purchased their ultimate retirement home.
Other seniors and boomers have purchased vacation homes where they want to retire.

Where Do You Want To Live In 10 or 15 Years?

How do you really know that you will want to retire in a certain place in 10 to 15 years? Or, what if you end up not using it too much, what if you get divorced, decide to move somewhere warmer or colder?

As an alternative and for some seniors and boomers, it might be a good idea to start a “retirement home buying fund” rather than buying an actual retirement home before they’re ready to retire. When you get close to retirement, you’ll have plenty of cash to buy your retirement home instead!

Looking For A Portland Retirement Home?

If you’re looking to purchase a second home, a potential retirement home, or a vacation rental, give me a call at 503-804-9685 to put your retirement plans in place today.

Portland Real Estate Hitting The Jackpot

January 25, 2012 in Senior Housing Options | No comments

This past weekend I showed Portland real estate and hit upon an almost “perfect” house for seniors and boomers without looking for it. In fact, my clients weren’t looking for this kind of Portland home.

Portland Real Estate Hitting The Jackpot

What kind of Portland house was it?

It had:

Two master bedroom suites
A master bedroom on the main level
Universal Design features (3′ wide hallways, hardwood floors, walk-in showers, etc.)
Had an elevator
ADU potential. There was a lanai that could have been converted to an ADU or there was room on the property to build an ADU
On a level lot
Possible multi-generational housing

Converting Existing Portland Homes For Seniors And Boomers

Further the house wasn’t new. I was surprised it had so many features seniors and boomers are looking for. My clients weren’t seniors or boomers and therefore weren’t looking for a home with these specifications.

The house was built in 1952 and yet it has all the elements of what seniors and boomers look for today. The only thing it didn’t have was a good walk score.

Portland Real Estate And Walkability

I plugged the address of the home to check its walkability and it had a 60 out of a 100 score meaning it was somewhat walkable. The transit availability was somewhat better at 33 with a bus .29 miles away.

Looking for a home with some of these features? They exist and are available for sale. Give me a call at 503-804-9685 and I can help you find it.

Seniors And Boomers Multi Generational Housing

January 13, 2012 in Multi-Generational Housing, Senior Housing Options | No comments

As you know I’ve written about multi generational housing here on this blog. The other morning CBS had a segment about this type of housing.

Seniors And Boomers Multi Generational Housing

Multi generational housing with 3 families or more under one roof has increased by 30% over the last decade. Those houses include multi master suites, common areas, separate bed and bath spaces, ADUs, separate entrances etc.

Seniors and boomers want this type of multi generational housing and builders are now starting to take notice of this desire and need.

This type of home currently being built by KB Homes in Orlando, Fla. have increased by 25% over the last three years to accommodate extended families.

Multi Generational Housing After World War II

I didn’t know that it was only after World War II that it became the norm for grandparents to live on their own.

Here’s a link to the video from CBS (I don’t know how long this video link will stay available).

Looking For Housing To Suit Multi-Generations?

There are houses available in the Portland real estate market that can accommodate multi-families. If you’re looking to purchase (or sell) a home to accommodate several families, please let me know at 503-804-9685.

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ALL ABOUT.....Seniors.Boomers And Small Houses

Portland Real Estate Pending Oregon Legislation Affecting Seniors

Pending Oregon Legislation

PORTLAND REAL ESTATE BUYER’S AGENT

Lake Oswego Real Estate Condolea 55+ Neighborhood Stats

NEED ADDITIONAL INFORMATION ON THE CONDOLEA NEIGHBORHOOD OR CONDOS FOR SALE?

Oregon To Reconsider Senior Property Tax Deferral Program

New Rules?

Vote To Occur Next Week

Portland Real Estate Blog Seniors Wanted

Grant Award To Gladestone Center

Portland Real Estate Blog Seniors Wanted In Clackamas County – Volunteer Opportunities

Want More Information?

Contact Information:

Portland Real Estate Neighborhood Stats Claremont

Need additional information on the Claremont neighborhood or houses for sale in Claremont?

Portland Real Estate King City Neighborhood Stats

Want To Buy Or Sell In A 55+ Neighborhood?

State Of Oregon Senior Property Tax Deferral Hearing February 3, 2012

Many To Be Left Out In The Cold Regarding Senior Property Taxes

Reverse Mortgages Don’t Allow Deferring Real Estate Property Taxes

State Of Oregon Senior Property Tax Deferral

Collecting Unpaid Real Estate Property Taxes

Seniors And Boomers Buying Retirement Homes Before Retirement

Where Do You Want To Live In 10 or 15 Years?

Looking For A Portland Retirement Home?

Portland Real Estate Hitting The Jackpot

What kind of Portland house was it?

Converting Existing Portland Homes For Seniors And Boomers

Portland Real Estate And Walkability

Seniors And Boomers Multi Generational Housing

Multi Generational Housing After World War II

Looking For Housing To Suit Multi-Generations?

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Betty Jung, Portland Real Estate Broker, RE/MAX equity group