Market Update: Keeping Your Smart Home A Safe One Too!

Isn’t it ironic that the steps we take to make our homes safer, more efficient and more convenient can cause us to be more vulnerable along the way? There is no better example than smart home technology… Nest, Ring, Abode, Ecobee4, Wink Hub 2, Arlo Pro and of course who could forget Alexa which integrates with dozens of other smart home products and counting.

But the harder we work to keep our lives simple and more secure… the harder hackers work to breach the barriers that we have built. Please review the tips below from the California Association of Realtors® and read the related article in full from the Chicago Tribune.

Smart-Home-Hacked-hi-res

For a recent review of home security systems and how the DIY-types compare to professional installation, this just-published article from CNET may be a great starting point.

Cheers to a safer and smarter home!

Bobbi

Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
BRE 00607999
e. bobbi@bobbidecker.com
p. 650.346.5352
w. www.bobbidecker.com

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
EHO

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Senior Spotlight: Seller Stats From CAR®

seller 1

There are some times when we let the numbers do the talking – and this week is one of them! Based upon the 2018 State of the Consumer from REACT (Real Estate Analysis: Consumer Trends) & the California Association of Realtors (CAR®),  we have pulled the facts and figures that are most relevant to those of us growing older and wiser!

Whether you use this data to keep a pulse on the current market, compare your needs and goals with others in your generation or just to keep your curiosity kickin’… here you go:

seller 2

| The average homeowner age is 56 with a median household income of $87,000.

| Nearly 25% of homeowners stated that they had considered selling their home in the past 12 months due to: a desire to capture home equity, a change in household size due to children leaving the home or a change in employment.

| The typical seller is 57 years old and owns their home 11.5 years before selling. Home seller age has been rising over the last 20 years (in the 1990’s average seller age was 50; it climbed to 57 in 2018.)

| The majority of older sellers sold to downsize to a home with less square footage.

| Sellers aged 53 and older accounted for 60% of sellers in 2018 (47% were Baby Boomers).

| 41% of sellers moved to a home in the same neighborhood or city, 37% relocated within the county and 20% moved to another county within our state.

| 45% of Boomers cited their biggest concern as getting a good price for their home (likely because home equity is a vital part of the ‘retirement nest egg’).

| 81% of Boomers stated that their home was not listed below market price to draw more attention from buyers (compared to 46% of Millennials).

| Boomer’s top 3 reasons for selecting an agent were: 1) Had worked with the agent on a previous transaction, 2) The agent was a friend or acquaintance, 3) The agent had been recommended by someone they know.

| Boomer’s top 3 areas of assistance during the sale were: 1) Determining pricing/listing strategy, 2) Negotiating price or terms of sale, 3) Advice about selling.

| Over 30% of Boomers expected a response time of their agent of 30 minutes or less; over 25% expected an agent response time of an hour or less, less than 15% of Boomers considered a typical response of 1 business day acceptable.

The REACT report also verified what we have covered in our Senior Spotlight for years: the population aged 65 and older is growing rapidly and will become a larger share of the population than children under 18 by the year 2030. By the year 2036, nearly 25% of our state population will be age 65 and older. The state median age by 2036 will be 41 years, compared to 36 years old today.

Did any of this data surprise you? Cause you to make your own projections over the trends to come? Inspire you to reconsider your own reasons for selling, choosing an agent or what areas you’d hope for the most assistance with?

To read the report in full, click here.

To view the complete set of All About Seller Infographics, click here.

All my best,

Bobbi

Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
BRE 00607999
e. bobbi@bobbidecker.com
p. 650.346.5352
w. www.bobbidecker.com

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
EHO

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Designations Create Distinctions: Course Offerings At-A-Glance

Success

Look: we get it! April is flying by, the days are getting warmer (mostly!) and you might be too busy to peer out from behind your sunglasses to see what is happening inside the classroom. But we also know that you are committed to growing, networking and being the best you can be for yourself & your clients… so this week we are providing a quick glimpse of what is to come and how you can join us!

Take a look at what is coming up soon (and trust us, this is just the tip of the iceberg this year!). Mark your calendar & sign-up today for what interests you. Please invite a friend or a few too!

Thursday, April 18th | Lunch & Learn Immersion Course | SAMCAR | https://www.samcar.org/posts/lunch-learn-offshore-realtor-immersion-course-1126.htm ***Open To Agents, Investors & Anyone Interested In Global Real Estate

Wednesday, May 15th & Thursday, May 16th | Accredited Buyer’s Representative Designation Course | SAMCAR | https://www.samcar.org/posts/accredited-buyers-representative-abr-designation-course-1127.htm

Wednesday, June 5th | Broker/Manager Lunch & Learn (Topics Announced SOON!) | SAMCAR | Email buddy@bobbidecker.com to join the interest list today!

Monday, June 10th – Friday, June 14th | CIPS® Institute | SILVAR | https://www.silvar.org/event_silvar-cips-institute-june-10-14-2019-861.htm

Cheers to growing together – and having fun every step of the way!

Bobbi & Buddy

Bobbi Buddy Big Numbers

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Monday Market Update: Global Real Estate Info Session (Open To All: This Thursday!)

Global LL 3

Have you ever wondered why 9 million Americans have chosen to live overseas, or why 700,000 US retirees are receiving Social Security abroad?

Have you wondered what it would be like to invest in a growing offshore economy, or what the most affordable places to retire offshore are today?

Whether you are an investor, prospective offshore retiree or just a curious global traveler – we have just the information session for you! All are welcome (you don’t have to be a real estate agent!) to join us this Thursday from 11:30am – 1pm for a complimentary Lunch & Learn Immersion Course dedicated to owning property offshore.

|  Discuss the specific concerns of owning property and living abroad

| Hear about the “10 Most Affordable Places to Retire Offshore in 2019”

| Get a sneak preview of a 2020 Caribbean travel opportunity

| Gain insights into global real estate in a casual forum (you’ll be surrounded by friends – like us!)

Please RSVP today and feel free to bring a friend who’d like to learn more abut global real estate trends too! There is NO cost, but RSVP’s are required!

SIGN-UP HERE 

Immersion Course

See you there!

Bobbi & Buddy

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Senior Spotlight: 8 States Push For Family Caregiver Tax Credits

hot topics

Nearly every one of us knows someone who is helping care for an aging loved one. And while the love for those closest to us is priceless, the actual cost is anything but cheap. According to a recent article in the McPherson Sentinel, the average cost of a Bay Area caregiver is $25-35/hour; medical wipes are $7 a package; retrofitting a home for senior safety can cost tens of thousands of dollars. AARP conducted a study in 2016 that determined the average family caregiver spends nearly $7,000 per year caring for a family member. The good news is that these figures are not falling on deaf ears.

While federal bills that would have created a tax credit of up to $3,000 for family caregivers never made it out of Congress last year, 8 states are already considering legislation that would provide tax credits to offset such above-mentioned expenses for those caring for loved ones. State Assemblyman Jim Patterson (Fresno) is the author of a California bill that would provide family caregivers a tax credit of up to $5,000 annually. According to the recent article, “Patterson’s bill would provide up to a $5,000 state income tax credit to family caregivers for five years, starting in tax year 2020. They would be reimbursed for 50 percent of eligible expenses, such as retrofitting a home, hiring an aide and leasing or buying specialty equipment. The credit would be available to individuals who make up to $170,000 a year, or joint income tax filers who make up to $250,000.”

Efforts of the like in Arizona, Mississippi and Virginia have failed, while New Jersey has approved a state income tax credit in 2017 specifically for those caring for wounded veterans. The current California measure faces competition from funding boosts to education, health care, housing and dozens of other programs. Advocates of the bill believe that the tax credit is a financially sound option to keeping loved ones at home, as opposed to relying on more expensive government services.

The progress of this bill is one that we look forward to following as we consider solutions to support aging Americans, especially amidst the reality of living in one of the nation’s most expensive areas. Regardless of location, 40 million caregivers across the country could benefit tremendously from financial subsidies, workplace flexibility and respite relief. Learn more about what AARP is doing to champion these needs HERE.

*Please note that this article is for informational purposes only and is not intended to serve nor replace professional tax or financial guidance. In addition, the sharing of this proposed legislation is not an endorsement of any political party nor affiliation.

All my best,

Bobbi

Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
BRE 00607999
e. bobbi@bobbidecker.com
p. 650.346.5352
w. www.bobbidecker.com

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/

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Monday Market Update: Mortgage Application Surge Follows Largest One-Week Decline In Decade

Accpeted

WOW. This was supposed to be THE year for rising rates, right? Much of the media speculation centered around what could happen in 2019 focused on the big window of refinancing being over, and the concern of buyers getting priced out of the market due to the cost of borrowing money. What a pleasant surprise for many as a 22-point drop in basis points erupted into the largest one-week rate decline in over a decade!

While mortgage applications for refinances showed the most momentum (returning to levels not seen for several years), purchase applications also increased. Interestingly, the average loan size for purchases actually declined slightly, a positive sign of first-time buyer activity increasing in the market.

Friday’s jobs report added some mixed feelings to the bag, but ultimately rates fell back to the week’s best levels! While job creation surpassed expectations (196K jobs created vs, 180K jobs forecasted), there was a noted decrease in the number of adults who considered themselves part of the workforce – which caused the unemployment rate to hold steady rather than decline. This coupled with the slide in hourly earnings lowered inflation risk, which helped rates move lower.

In short, real estate is just like the rest of life; be ready for anything! Sellers concerned about moving up or loss of buyers in the market may have SO many more options than they anticipated this year. And more buyers are on the move than expected since rates have seemingly opened up more possibilities for FTHB’s. My best advice is to always keep your goals at the forefront of your mind and let the trusted real estate and finance professionals support you in timing and strategy. When there is a will, there is a way, and I am always determined to help you find it!

Resources Used: Rates Fall Back to Week’s Best Levels After Jobs ReportRefinancing Soars Up 39% as Rates Decline

All my best,

Bobbi

Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
BRE 00607999
e. www.bobbidecker.com
p. 650.346.5352
w. www.bobbidecker.com

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/

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Senior Spotlight: Combatting Age Discrimination With AI

now hiring

Here in Silicon Valley, it would be entirely irresponsible to forego technology applications in our discussions about aging. Up until this point, much of the data surrounding innovation and older adults has focused on health monitoring, fall prevention, family communications and most recently – roommate matching for solo agers. But as of late, AARP published an article about harnessing the power of technology, specifically artificial intelligence (AI),  to address age discrimination in hiring.

With many studies showing that Baby Boomers are working longer than previous generations (and longer than even they expected themselves), there have unfortunately been a growing number of cases appearing in court pertaining to the use of age bias in recruiting technologies. Examples include denial of applications with older email addresses and a focus on ‘.edu.’ email accounts which signify youth, advertising jobs on Facebook only, and other questionable keyword and data type sorts in virtual screening of resumes.

In the true spirit of fighting fire with fire, artificial intelligence is entering the discussions of how to eliminate age bias in the technological aspects of hiring. Since AI is software ‘designed to think rather than simply react’ (as explained by AARP), the implications are limitless in terms of addressing employee and employer fit. Hiring patterns can be programmed to correlate the backgrounds of employees who are great at their jobs with candidate who share similar qualities. The concept of using matches in abilities, skills and performance is one that far transcends the current recruiting practice of searching by data drops and keywords.

IBM, H&R Block and BuzzFeed Media are already reporting that utilizing artificial intelligence has helped them identify quality candidates faster. This is of particular interest in noting that IBM has previously been under scrutiny for using age bias in layoff processes. Change is a very good thing, especially in cases when efficiency and equality connect the right people with the right careers for the right reasons.

We’ll be excited to see how artificial intelligence reintegrates authenticity into hiring practices, something our longest working Americans (as all individuals) unarguably deserve.

Resource Used:Can Artificial Intelligence Outsmart Age Bias?

Cheers to doing what you love so it feels like you haven’t worked a day in your life,

Bobbi

Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
BRE 00607999
e. bobbi@bobbidecker.com
p. 650.346.5352
w. www.bobbidecker.com

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
EHO

 

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CIPS®: Coming To SILVAR® In June (Don’t Miss This One!)

We could not be more pleased to announce that our 5-Day Certified International Property Specialist Institute (CIPS®) is coming to the Silicon Valley Association of Realtors® in June!

This once-a-year opportunity will guide you through the expansion of your business into the global real estate sector, something that is critical here in Silicon Valley. The CIPS Institute provides training in international business issues, including currency conversion, cultural awareness, legal and tax requirements, ownership and transaction principles of international real estate, and specifics about the real estate markets in Europe, the Americas, and Asia.

Cost for the entire CIPS Institute, which includes five courses, is $500 for the paperless option and $550 for the paper version (printed manual for each of the five courses) through May 20. Regular price is $600 (paperless)/$650 (paper). The CIPS Institute is open to both members and nonmembers. For the paperless option, members may enroll online at ims.silvar.org . Non-members and those who want the paper option may register by contacting SILVAR Public Affairs and Communications Director Rose Meily at rmeily@silvar.org .

SILVAR CIPS Institute: June 10 – 14, 2019
Date: June 10 – 14, 2019
Time: 8:30 AM-4:30 PM
Cost: $500 paperless; $550 paper option till May 20
Location: 19400 Stevens Creek Blvd., Suite 100, Cupertino, CA, 95020

Learn more & register TODAY!

(Price goes up May 20th… please don’t wait!)

Looking forward to meeting each and every one of you! Thank you to SILVAR® for your support in bringing this course to your amazing members & guests!

~ Bobbi

CIPS June

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Monday Market Update: Don’t Be Fooled By These Times To Call In The Pros

It’s April Fool’s Day… but there are some tricks you should not fall for at any time of year! When I saw this infographic from our friends at the California Association of Realtors®, I just new it was the perfect segue into a little chat about home inspections. Check out the tips below, then find my tips for what to ask as a buyer or seller when deciding how deep to dig into home inspections.

Calling-in-the-Experts-hi-res

As A Buyer:

It is normal to feel that reviewing all of those disclosures is daunting! But that is no reason to skim them and skip out on some important data. Always work with an agent who is committed to helping you assess the condition of the home you’d like to buy. There are many times when I have advised a buyer on when specific inspections are needed after reviewing the general overview, or when I’d consider getting a second opinion. Common needs for an additional eye are pools, chimneys, foundations, electrical panels (many are recalled!) and roofs. The inspection provided by the seller can be a solid baseline, but can also be the stepping stone to what needs closer attention.

As A Seller:

Sometimes all you need to do is fill out the disclosures and be done with it, right? But getting off on the right foot with your potential buyers often means going the extra mile. I love instilling confidence from before the home hits the market by talking with my sellers about a quality home inspection to get ahead of any repairs, to avoid any issues once we are in contract and to instill integrity in every aspect of the sale of the home. I always walk my sellers though what can be done to maximize access and ensure the thoroughness of the report.

If you have any questions about what inspections are needed and why as a buyer or seller, please don’t hesitate to reach out!

All my best,

Bobbi

Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
BRE 00607999
e. bobbi@bobbidecker.com
p. 650.346.5352
w. www.bobbidecker.com

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
EHO

 

Posted in Monday Market Updates | Leave a comment

Senior Spotlight: Aging In Place Is NOT A Priority After All

Aging Happy

A common school of thought among the aging population is that moving is a last resort. Up until recently, some studies have even corroborated the notion that aging in place is an ideal among those aged 60 and older. But a new study from LeadingAge, a non-profit global organization with over 6000 members in 30 countries (known as the ‘trusted voice in aging’), reveals that in reality – this is not the case.

In a study conducted on the ‘young old’ (those aged 60-72), 40% of respondents said that they preferred to live somewhere other than their current home if they faced any physical or cognitive impairments. This is a stark contrast from earlier research which indicated that 76% of older adults prefer to stay in their own home regardless of impairment.

Other surprising findings include:

| The consideration that technology can address many concerns of aging and the use of safety monitoring devices to detect and prevent falls and injuries.

| The desire to seek out long-term services and supports (LTSS) to lessen the burden on family members (the biggest worry among respondents).

| Only 10% of respondents were worried about not being able to stay in their existing communities, and only 11% worried about having to live in a nursing home.

| The biggest care challenge associated with aging was cost; 55% of the wealthiest Baby Boomers cited affordability as a concern for managing physical and cognitive impairments.

| 70% of respondents reported fears of being isolated and alone (with the greatest concern expressed by lower income retirees and younger retirees).

| Behind location and price, technology was the 3rd most important factor in future residence selection, with 50% of those aged 65 and older prioritizing technology as the #1 factor in choosing a multifamily community.

| ‘Being safe” ranked a top consideration for older Boomers than ‘being around friends or family’.

WOW! The implications of this latest research are huge from a social, financial and historical perspective. This data not only contraindicates what has been believed for years, but redirects our attention to the solutions that technology offers for safety and communication with loved ones – two critical considerations for older adults.

The bottom line appears to be that being healthy and safety is far more important than physical proximity to loved ones or complacence in one’s current residence – so long as technology is maximized to sustain contact with friends & family. Not surprisingly, few Baby Boomers wish for their care needs to burden their children – even if it means moving.

Resources Used:

How Younger Baby Boomers Want To Spend Their Later Years, Not Necessarily At Home

LeadingAge / NORC Survey Sheds New Light on How Boomers Hope to Age

Posted in Living Longer, Living Better, Senior Spotlight | Leave a comment