Officially retired - our 3rd chapter of life
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|Sat, 08-23-2014 - 5:27pm|
To start I have not read any of the posts below - will do asap. As for my 1 yr. real estate stint - I basically quit. I spent the year learning everything and the way it is today, both buyers and sellers can do everything themselves - no real estate agent needed. The MLS and internet have pretty much taken everything away from agents so starting out it's more difficult and challenging than in previous years. On the sellers side, you can pay an agent whatever the MLS fee is in your area and put your own listing online or if you choose, you can do it yourself online. Sellers can do their own open houses & marketing for much less than an agent's commission fee. As for buyers, they have no respect for agents and despite broker agreements that buyers sign, the buyers totally ignore them. So buyers feel free to use multiple agents as they please. Bottom line - the only people staying in business are mortgage brokers, appraisers, home inspectors & attorneys - not real estate agents Mortgage brokers refuse to underwrite loans without an appraisal & home inspection so that's a guaranteed income. Attorneys review the contracts and in this day & age, nobody will sign conracts without an attorney review. As for real estate agents bringing together a buyer & seller - the internet does that now. Agents are tripping over each other just to get a slice of the pie - that's how tough it is. And at 60 yrs., I'm supposed to spend my time in a dog eat dog world of agents clamoring over each other to get 1 listing? Please, I've worked all my life - I don't need this.
Since dh David retired from teaching this June, I pretty much called it quits and retired with him. We've taken 2 short trips this summer and I've been spending time deep cleaning my house - had way too much clutter. It's spotlessly clean now. Also while sitting at the computer working in real estate, I've gained about 20 lbs. Previously, working in retail for 13 yrs., I was walking a lot on the sales floor so that was my exercise. Sitting at a computer all day is a fat gaining system that I can't afford to have. So it's back to the treadmill. What killed me is I was forced to buy clothes in size 16 which I never did before..
Next, as for living near New York City, well we may have to say adios in the near future. Bottom line - my father in law is 93 & my Mom is 90 so we're staying here until at least my father in law passes. He lives alone and at 93, he's doing OK. He's about 60% deaf, goes shopping by himself, reads books, cooks meals & can function for the most part. We talk to him & visit him several times a week. Also we took him on a vacation to Delaware (he loves the horses). As for my Mom, she lives with my sister so at least she has company but she is independent and able to do everything herself. Please, please let David & I inherit their genes. Both of our other parents died young, so we want to inherit the longevity parents genes. Also my Mom is starting to go deaf but not as bad as my father in law - yet.
David & I reviewed our finances and financially we're OK. The issue is the VERY high cost of living near New York City - housing, taxes, gas, entertainment, etc. If you're working - you're income can always go up. If you're retired on a fixed income - it's a whole different scenario. So I've taken some closer looks at Nebraska, Florida, Oregon or Washington, Virginia & Colorado. I've already been thru the sticker shock phase looking at how much cheaper it is to live anywhere outside the New York City area. Gee whiz - just looking at property taxes alone had my mouth gaping open. As a real estate agent I'm trying to show a simple 3 bedroom house with 1 bath that needs upgrades & located in a medocre neighborhood for $450,000. with property taxes of $12,000./yr.. By the way a nice 3 bedroom with 2 baths that's already upgraded & in a better neighborhood? Try $800,000. with taxes of $18,000. Obviously, we could sell our 1 bedroom co-op for $225,000. with HOA monthly fees of $1,100. and live somewhere else for much much less.