Retirement homes can be quite expensive

Revera Homes charge extra for specific services
Before submitting a story to you about the cost of retirement homes always increasing, I would say that as a real esate agent with the Seniors Real Estate Specialist (SRES) designation, the best solution to managing the finances of a 'roof over your head', is to own your home until you require assistive living of a retirement home.
Too many people spend too many years paying rent.
In other words, don't sell your family home when you're 70 and then rent for 15 years before you may have to relocate to a retirement or residence for the aging. The best plan is to buy a condo apartment, so you have equity and likely full ownership of a home when it's time to 'down-size again. Sell the condo and use those dollars for your daily living.
Here's a story from the London Free Press about the soaring costs of retirement or nursing home living.

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Deep pockets needed for getting old

RETIREMENT HOMES: Area’s largest operator introduces new charges for services

By JONATHAN SHER, The London Free Press

Last Updated: June 29, 2012 9:26pm

LONDON -- Grandpa need someone to put on and take off his socks each day? That will be a charge of $252 a month.

Can't get to the dining hall on his own? Someone will take him for $606 a month. Or, if you like, his meals can be brought to him on a tray -- that will be $500. New charges for services that used to be included in a base price are a staple for airlines and cable TV, but now they've arrived at one of the area's largest operators of retirement homes, Revera Living.

Revera owns 10 homes in the U.S. and 93 in Canada, including three in London: Horizon Place, Maple Leaf Terrace and Windermere on the Mount.

Revera calls its new billing "a la carte services" and says it offers more flexibility.

But the family of one London resident says they were stunned with the new price list. They were told they'd be charged an extra $1,485.12 a month for someone to check their diabetic relative's blood glucose four times a day, a test that can take less than a minute to perform.

The new fee would raise the monthly bill about 50%.

"When looking at the new fee for services schedule the fees could go through the roof when my dad needs more care," said one family member who asked her father's name be kept confidential.

The family fears new charges will force seniors out of residences that have become their homes.

"For many people this will make their care completely unaffordable. I'm sure that many, like my father, planned and budgeted according to their original contracts and that these separate fees for services will make it impossible for them to stay where they have settled as their care needs increase," a family member said.

Unlike long-term care homes that get government funding and whose prices are regulated, retirement homes have had no limits on what they charge for services other than the basic cost of the room itself.

The Ontario government has begun to phase in regulations. Next week retirement homes must file licence applications for the first time.

The new rules don't limit the price of services but perhaps they should, said a lawyer for the agency enforcing the new regulations, the Retirement Homes Regulatory Authority.

"This is really greenfield regulations . . . It's an area that should be looked into," lawyer John Risk said.

Retirement homes face limits on how much they increase room rates, just as other tenancies are, but the new law doesn't limit charges for other services, he said.

The thought of regulated prices for services left the head of the retirement home association reeling.

"The sector would be surprised," said Laurie Johnston, chief executive officer of the Ontario Retirement Communities Association.

The pricing system pushed by Revera is not unusual in Ontario, she said. The only limit is that homes must give 90 days notice before making changes, she said.

Revera says it's being competitive with the local market and defends the changes, saying the old fees wouldn't sustain a company in an industry that doesn't get government support.

"Our previous care package model, which was in place for many years with minimal fee increases, did not address this changing care dynamic, and was not sustainable.

"For this reason, we have moved to a fee for service care model, to provide options for individual services that residents may want or need, that has flexibility over time," Revera spokesperson Janet Ko said.

Asked if that flexibility meant some residents might pay less, Ko said many residents don't require added services and some will save money.

Ko acknowledged new prices pose problems for some residents.

"We recognize that changes to care services can be difficult for some families and residents, and respect their decisions as to whether they would like to continue to secure these care services from us, another provider, or in some cases, moving to long-term care," she said.

But the London family says Revera first gave them little time to consider alternatives, just eight business days. After the family objected, the Revera home agreed to bill one-quarter of the total, so long as their relative could get by on one blood glucose check a day, then agreed to delay that charge until another meeting was arranged.

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WHAT'S THE DIFFERENCE?

Retirement Home (R) v. Long-term Care Home(LTC)

— R: No government money

— LTC: government subsidized

— R: Barely regulated until recently

— LTC: heavily regulated

— R: Cater to people with money

— LTC: Caters to those who need subsidies

— R: Generally fewer medical needs

— LTC: More intensive medical needs

Amortization and GDS changes in effect July 9

Back-to-back posts dealing with the reduction of amortization periods on a high-ratio (Less than 20 percent down payment) mortgage from 30 years to just 25 years.
Story was written by The Toronto Star.
I'm not sure this move was necessary by Jim Flaherty as the qualifications for financing are already quite strict in Canada, especially when you need: a good job, good credit record, and now a gross debt service ratio under 40 percent -- Principle Interest and Taxes (Plus other commited debts like car payments) are less than 40 percent of your overall family (household) income.

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Ottawa tightens mortgage rules as authorities adjust to worsening world economic threat

By Les Whittington | Thu Jun 21 2012 Toronto Star

OTTAWA—Hemmed in by a deteriorating world economy, the federal government and the Bank of Canada are recalibrating their strategies in hopes of preserving growth in Canada without inciting a dangerous housing price bubble.

The looming damage from Europe’s banking crisis was front and centre Thursday as Finance Minister Jim Flaherty and Mark Carney, the central bank governor, went public in a joint campaign to head off runaway inflation in the overheated housing sector.

“There’s grave concern about the economic recovery in Europe,” Flaherty told reporters after announcing measures to take some of the steam out of Canada’s mortgage market. “I’m concerned, obviously, that we may get a shock from Europe.”

It was a tacit admission the economy is too iffy to allow the Bank of Canada to raise interest rates, which would drive up borrowing costs and reduce the risk of too high inflation in real estate.

The extent of the danger from Europe’s mess was evident everywhere Thursday. Global stocks fell more than 1 percent and Brent crude hit its lowest point since December 2010 following data showing manufacturing in three of the world’s biggest economies, China, Europe and U.S., had slowed further.

Despite the U.S. Federal Reserve’s promise this week to extend its stimulative “Operation Twist” program, U.S. stock indexes suffered their worst day Thursday since June 1. Gold was on track for its biggest decline in more than three months on global economic worries, and the TSX slumped 350 points, its biggest one-day drop since November.

“The genesis is Europe and it’s starting to flow through everything now. Business has slowed down,” said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.

The decision on mortgage-lending follows this week’s G20 summit in Mexico, where Flaherty, Carney and Prime Minister Stephen Harper spent two days grappling with the European Union’s long-stalled effort to overcome the alarming financial breakdown on the continent.

“We just came back from the G20 meeting of leaders and finance ministers and the reality is that the European situation is very challenging, to put it mildly,” Flaherty said. “So my job is to look at our own country and look at the residential real estate market and make the best judgment that we can.”

Earlier this year, Carney warned Canadians the central bank was looking to push up their borrowing costs to head off a burst of price inflation. But a few weeks ago he changed his tone, suggesting as long as Europe’s problems continue to undermine the global recovery, he would have little choice but to keep the bank’s trend-setting interest rate at or near the current 1 per cent to spur economic expansion at home.

Still, Carney and Flaherty are worried historically low interest rates are enticing Canadians to take on dangerously high levels of debt, particularly in home-buying. So the Harper government is trying to offset the negative impact of the central bank’s pro-growth low-interest rate policy by making it harder for Canadians to take out mortgages.

In a speech in Halifax, Carney chimed in, “Federal authorities have taken additional prudent and timely measures to support the long-term stability of the Canadian housing market, and mitigate the risk of financial excesses.

“Our economy cannot depend indefinitely on debt-fuelled household expenditures, particularly in an environment of modest income growth,” the bank governor pointed out.

He noted that “Europe is now stagnating—its (annual economic output) is still more than 2 per cent below its pre-crisis peak.”

Flaherty said he acted to toughen mortgage rules for the fourth time in six years to slow the growth of a real estate bubble. He noted that the bursting of the U.S. housing bubble caused long-term damage to the American economy.

He singled out the condominium market in Toronto as the most troubling hot spot. Buyers should conduct themselves prudently he said. “Some calming of the market is desirable.”

The government is tightening mortgages by reducing the maximum amortization for a government-insured mortgage to 25 years from 30 years.

It is also lowering the maximum amount Canadians can borrow when refinancing a property to 80 per cent from 85 per cent of the value of their homes. Flaherty has complained in the past about people using their homes at ATM machines.

And government-backed mortgage insurance will no longer be available for homes with a purchase price of more than $1 million.

With files from Reuters and Canadian Press

25 years on a conventional mortgage

Flaherty changes the rules

Next two postings are about the federal government reducing amortization maximums to 25 years, from 30 years. There was a time a few years ago, you could get 35-year amortization.
The irking thing about this change is that it is completely geared to slowing down the market in major metro centres like Toronto and Vancouver.
Toronto Star story follows:
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Here's how the new mortgage rules may affect you

June 27, 2012 By Madhavi Acharya, http://www.moneyville.ca/

Last week, Finance Minister Jim Flaherty announced new mortgage rules meant to cool off the overheated housing sector and help Canadians tame sky-high household debt levels.

If you’re not sure that you can meet the new mortgage criteria, you have a couple of difficult choices to make.

You can: pay off your debt first, save more for a larger down payment, or lower your budget for your new home.  

The government made these following changes, which take effect July 9:  

-The new maximum mortgage amortization for a government-insured mortgage will be reduced to 25 years from the current 30 years. That’s for home buyers who have a down payment of less than 20 per cent. Conventional mortgages will still be offered on a 30-year basis.

-The new gross debt service limit is set at 39 per cent from the current 44 per cent. (High-ratio borrowers are already capped at 35 per cent.)  

-The maximum amount Canadians can borrow when refinancing a property will be reduced to 80 per cent from 85 per cent of the value of their homes.

-Government-backed mortgage insurance will no longer be available for homes with a purchase price of more than $1 million.

How will the changes affect you? Here are some examples:

For a household of $75,000 annual income with $50,000 down payment and no household debt, with a 30-year amortization on a 3.29 per cent mortgage with a 5-year term, the purchase price would be nearly $414,000.

The monthly mortgage payment would be nearly $1,590.

With all else being equal, with a 25-year amortization, this family would be able to afford a home with a purchase price of nearly $375,000. The monthly payment is unchanged.

“That can be a significant difference in some markets,” said Farhaneh Haque, director of mortgage advice at TD Bank Group.

That means the home you really want may be just out of reach, particularly in a hot market such as Toronto or Vancouver. The flip side is that you will have more equity in your home right away, with a smaller mortgage and less debt.

“Sure you’re buying a house that may be more modest, but it’s more affordable, too. The bigger the house, the more expensive it is to maintain. For a first-time buyer with a modest down payment, it makes sense and helps manage the monthly budget,” Haque said.

Under the new rules, your monthly housing costs shouldn’t be more than 39 per cent of your gross monthly income. Housing costs include your monthly mortgage payments for principal and interest, property taxes and heating expenses. In fact, experts say it should not be more than one-third, or 33 per cent.

To calculate that, add your gross household income from your and your spouse’s salaries, as well as other sources of income and multiply the amount by one-third. Your monthly debt load should be lower than that.

Now take it a step further. Your entire monthly debt load cannot be more than 44 per cent of your gross monthly income. That includes your housing costs plus your other debt payments on car loans, credit cards, or lines of credit payments. Experts say it should not exceed 40 per cent.

If you are close to the cut-off, have a conversation with your financial adviser or mortgage broker.

“Do you really want to be on the edge with your total debt ratios? You want a buffer for a rate increase. If you’re already at 37 per cent in today’s rate environment we can show them what happens if the rate goes up by 1 per cent,” Haque said.

“Regardless of the changes that were announced, you’re always advised to have a bigger down payment because it makes home ownership that much more comfortable for you. If you have other debt, focus on getting a handle on that and paying that debt down before you take on a mortgage because that’s a heavier and longer commitment.”

New listing of mine in Sally Creek

In Woodstock, consider brand new Mike Dubecki Homes
Woodstock has many options in new construction.

If your choice is a brand new house, you can consider two subdivisions in the northeast, including modest (good quality, but smaller) new homes by Claysam in the Neighbourhoods of Devonshire.

If your wish list is led by a quick commute on the 401/403, maybe a 2-storey on Champlain or Frontenac is your best bet as south Woodstock includes many amenities including the new hospital (Opened last November). Also, Hunt Homes is still building off Sales Drive – townhouses backing on to Mill Street and detached homes just north of the hospital on Allan Crescent.

On the north side of Pittock Lake is where the City of Woodstock is quickly expanding with Sally Creek, Alder Grange and Havelock Corners sprouting up.

Just this past weekend, I signed on to represent Mike Dubecki Homes Limited (Based in Brantford; www.mikedubeckihomes.com). Co-listing with Jason Dubecki of Brantford’s Royal LePage Hurley, this quality builder has been constructing houses in the Brant area for more than 60 years.

In Sally Creek (West off Highway 59 at Lakeview Drive) and in the family neighbourhood there, the Dubecki family has six lots for sale, including the current model home at 379 Fairway Road. The model is an attractive 2-storey with 3 bedrooms. The master includes a cathedral ceiling, walk-in closet and a 4pc ensuite.

The main floor has a large living room with hardwood flooring, and a spacious eat-in kitchen with a moveable island with breakfast bar, plus ceramic tile and a patio door.

Upgrades in construction are everywhere and include interior and exterior potlights, and a solid oak and wrought iron banister to the second floor.

The property is a premium lot as it backs on to a large municipal park. This park is not a storm-water management pond, but an actual greenspace park.

If you want to see additional photos and more details of the home, see MLS: 69-604 on www.Realtor.ca

The asking price is $309,000.

To view the house, call me anytime.

Mark Schadenberg

Sales Representative

Royal LePage Triland, Woodstock

(519) 537-1553

Field Of Dreams at CASS

Relay For Life is June 15-16
Here is final story I wrote for The Sentinel-Review to promote Relay For Life.
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By Mark Schadenberg

If you were to stage a large camping jamboree, you would require about 100 tents, some music, a large venue, lots of groceries, and about 1,000 people with a common purpose.

Candles (Luminaries) will light the night for the 13th Relay For Life in Woodstock, June 15 - 16 at College Avenue Secondary School, raising money and awareness for the works of the Canadian Cancer Society (CCS). Almost ironically, this ‘Field Of Dreams’ is named the Terry Fox Memorial Track as about 90 teams will set up campsites for a 12-hour vigil, which is more than just an evening of walking and reflecting, it’s a moment to ‘celebrate, remember and fight back.’

Field of Dreams is the 2012 theme as participants imagine a day where the battle to eliminate cancer has been won. Realistically it’s also a night to recall those who died from cancer.

Everyone has a different story to tell.

Committee co-chair Keri Axon looks back at cancer’s effects on her family.

“I Relay because both my mother and father had cancer, and I believe their prognosis would be entirely different, if they were living with cancer today,” says Axon, who chairs the steering committee alongside Kim Whitehead

“The gains (which have been made) in the diagnosis and treatment of cancer are significant,” Axon adds. “The Canadian Cancer Society is one of the largest lobby groups for prevention of cancer, which I personally believe is the key to winning against this disease.

“My dream is to see a world where there is no cancer. I want this world to exist for my family, particularly my five wonderful grandchildren.”

After raising $286,000 in 2011, the committee’s goal is $300,000 this year, which is a number that may be attained due to countless donations and volunteer hours. Food sponsors are many, but are highlighted by Swiss Chalet, Boston Pizza, Tim Hortons, and Sobeys.

The sale of luminaries at $5 apiece raises money and are also a beacon as approximately 2,000 tealight candles will light the way all night.

The evening’s opening ceremonies before 7 p.m. will feature Jessica Hagen of the local Jacob’s Story foundation and Mom of the late Jacob Hagen-Johnson.

The Survivor’s Victory Lap will follow. Cancer survivors can register online at www.relayforlife.ca/woodstock, at the CCS office at 65 Springbank Ave North, and beginning at 5 p.m. at CASS on the Friday night.

Relay For Life is also a family event as there is a children’s tent with face painting, Shrine clowns, the Home Depot craft activities, games and popcorn.

Entertainment has been coordinated by master of ceremonies and committee member Dan Henry of Heart FM, and includes the radio station’s Big Break talent contest winners Badly Sketched Poets on stage at 10:20 p.m. Performing earlier on the agenda will be the Sim School Highland Dancers, plus music groups New Monsters and Jackson Lane.

Another special guest will be found at the Fight Back Zone tent. Mark ‘The Machine’ Hominick of Thamesford and a world ranked MMA fighter as a featherweight in the UFC will be signing pictures from 6 – 8 p.m.

The Woodstock Camera Club and Shoppers Drug Mart are again combining forces to provide free team photos. There will also be a silent auction, while many of the teams have created games and activities to help pass the time.  

While the Relay night includes entertainment, the solemn Lighting of the Luminaries ceremony at 10 p.m. can be described as poignant and a pause for thought.

Luminaries are designed to both be in memory of someone who has passed away from cancer, but also to honour survivors.

One committee member who is a cancer survivor, also lost a son to a rare skin cancer. John Hunt now speaks around the province at various CCS events and other Relay For Life benefits. John and Nancy Hunt’s son Mark died from cancer in May of 2010 at the age of 31. Mark Hunt was married and had a young family.

“No parents should have to go through what Nancy and I did. I can only hope that we can help prevent one case of cancer and save a life of someone else,” said John Hunt in explaining why he dedicates his time and resources to Relay For Life.

“The (CCS) funds research into all types of cancers and through this there will be many successes. Only by participating in (medical) trials can we help to advance treatments that are available. I myself have participated in two clinical trials in London,” added Hunt. “I travel around the province sharing my story and how I fight back against cancer. People need to hear from those who have been there. I feel it gives them more motivation to join the fight.”

Relay For Life always requires last minute volunteers. If you can assist, call the CCS at (519) 537-5592. Tasks are as varied as setting up the luminaries, to directing traffic and parking, to Saturday morning cleanup at 7 a.m., which is often led by people who have been awake all night, along with both the Lions Club and Knights of Columbus.

If you are unable to attend the Woodstock event, the Ingersoll Relay For Life is at IDCI high school, June 22-23.

At Woodstock’s Relay For Life the infield of the CASS track is converted into a campground. Participants are reminded to bring a coat, blanket and flashlight, but also rain gear, games and lots of enthusiasm.  

Linking two counties

Training wheels on a hot day
By the time we made it home Sunday my daughter pointed out that she was in and out of the car seven times.
It may have actually been eight.
My wife works for the Alzheimer Society of Brant, which is linked to the same organizations in Norfolk County and the Hamilton area.
On Sunday, a new set of connected trails (walking / cycling) were officially opened and the Alzheimer Society was part of the promotion as a fundraiser.
We attended with bicycles -- my daughter's with training wheels; my son on a trike.
We made stops in Simcoe, Waterford and again just north of Waterford at the Norfolk-Brant county line (Jenkins Road) to visit this trail system. 
As chair of the Woodstock Recreation Advisory Committee, I was able to do double duty as I received a close look at a new trail system (Formally now open) on a previous railway line and also looked closely at the Lions Park fastball (softball) complex (three diamonds) in Simcoe, which was built in 1993, but recently improved. 
Here's the story from The Simcoe Reformer about this new link of trails.

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Marriage between Norfolk and Brant

Sarah Doktor, Simcoe Reformer

WATERFORD - On Sunday, Norfolk and Brant counties became more closely connected thanks to the joining of their two trail systems.

Norfolk County Mayor Dennis Travale and Brant County Mayor Ron Eddy met at Jenkins Road where the two trail systems now connect, to exchange a handshake and mark the completion of the project.

The trails now run from Brantford, through Brant County — including Mt. Pleasant and Scotland — south to Waterford, Simcoe and Port Dover.

The project has been in progress for several years after both Norfolk County and the Brant Waterways Foundation received funding to extend and repair their respective trail systems.

The Brant trails feature 12 kilometres of asphalt that provide “the missing link,” between Brantford and Norfolk, said Mary Welsh of the Brant Waterways Foundation.

“We’re really excited and gratified that we’re seeing rollerbladers, baby buggies and skateboards,” said Welsh of the paved trails. “So, it expands the usage.”

While Norfolk’s trails are not paved yet, Travale said they would be in the future.

The gravel hasn’t stopped residents and tourists from utilizing the paths.

“We’re already seeing the spin-off benefits,” said Mark Boerkamp, trail development and business marketing coordinator with Norfolk County. The local economy receives a boost as people using the trails stop for refreshments or accommodations in the neighbouring towns.

Norfolk County and the Waterford Heritage Trail committee also celebrated the grand opening of the Black Bridge in Waterford following the handshake of the mayors, which also concluded the Rail Trail Bike N Hike that was ongoing throughout the day on the trails from Mt. Pleasant to Port Dover. The Alzheimer Society of Haldimand, Norfolk and Brant benefited from the Bike N Hike.

Participants could ride their bicycle or hike for as long as they wanted without registration. However, there were several check points situated along the trails where participants could buy wristbands as well as snacks and refreshments.

“It’s really about raising awareness,” said Mary Burnett, CEO of the Alzheimer Society of Haldimand, Norfolk and Brant.

The Alzheimer Society planned the event in conjunction with the two counties to celebrate the completion of the trails, as well as the benefits residents can get from using them.

“Exercise is so important to keeping your brain healthy,” said Burnett.

SRES designation now completed

I'm not convinced that a CHIP reverse mortgage is a good idea
I have received my certificate noting that I've passed the Senior Real Estate Specialist designation. This is the original (slightly edited) post from May 1st, which was written after I completed the course.
Contact me anytime at mschadenberg@rogers.com or 519 537-1553.
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By Mark Schadenberg

The SRES OREA course I participated in at the end of April, taught me a lot about CMHC programs, Gen-X, CHIP, SAFE, ADL, NORC, HELOC, SKIING, RRIF and ISL.

I somewhat reluctantly write about the program now because I have yet to receive my course marks. To receive the SRES designation I need 80 percent on the final exam, and those results are still pending. (I passed !)

So, what is SRES?

Seniors Real Estate Specialist is an accreditation I can add to my business cards, in essence informing the consumers, and in particular those older than 50, that I have passed an intensive course dealing specifically with needs and requirements for home buyers and sellers in this life stage.

It certainly doesn't mean I will be concentrating all my efforts on empty-nesters, but the information acquired will assist myself in understanding the demographic of this generation. It is about empathy through understanding.

The course, which was offered in London, included more than 60 real estate sales reps and most of them had travelled from as far away as Barrie and Brampton to learn the subject material.

Topics ranged from 'aging in place' to NORC (Naturally Occuring Retirement Communities) to CCRC (Continuing Care Retirement Communities). The best example locally of aging in place is the Southgate Centre and the various walking trails we have along the Thames River, and communities that offer volunteer opportunities.

The term ISL is 'independent supportive living', and would be best described as the format of Oxford Gardens.

Did you know that the Canadian Mortgage and Housing Corporation (CMHC is a multi-faceted federal government agency best known for offering mortgage insurance to families with less than 25 percent of  a downpayment on a house they financially are qualified to purchase) offers grants to families who create garden suites to assist in the caring of aging family members in the home. SAFE is an acronym standing for safety, access, fits needs, and ease of use. The term ADL covers a person's ability to continue living on their own as the letters represent Activities of Daily Living such as hygiene, dressing, doing laundry, eating and mobility.

The course mentioned a long list of important 'life' activities: health, driving, walking, family, volunteering, working, hobbies, seeing and hearing.  

When it is time to maybe sell the home a family was raised in, terms such as downsize, declutter and disband are discussed.

As far as finances are concerned, the SRES course delved into reverse mortgages from both a positive and negative angle, and retirement income timetables such as converting an RRSP into a RRIF (register retirement income fund) at age 71.

A reverse mortgage sounds like a great idea as at the age of 60 you can receive the cash value of up to 50 percent of the home's value, but there are legal and appraisal fees, and the interest compounds over time. The good news is that it is your money and your principal residence, so you receive the money tax free. Through their marketing efforts in print and TV, most people are familiar with CHIP (Canadian Home Income Plan) reverse mortgages. The loan is repaid when the house is sold, but in theory the equity in the home does decrease gradually. Reality is that a person applying for a reverse mortgage would likely not qualify for a conventional mortgage based on their income.

Another option is a HELOC (Home Equity Line of Credit).

Estate planning, power of attorney and the process of probate were also explained.

Most seniors spend a ton of time travelling and therefore still spend a ton of money. The course (with tongue in cheek) referred to this as SKIING (Spending the Kids' Inheritance). When is a good time to buy a condo, so you can spend the warm months at a home in the south?

We know we have an aging society. One number tossed out is that by 2015, 48 percent of the workforce will be between the ages of 45 - 64, and that includes myself. Statistics Canada compiles the numbers for the oldest cities in average age and other concrete numbers. For example, the senior capital of Ontario is Peterborough. Next on the list are communities like Haliburton, Niagara-On-The-Lake and Elliot Lake.

With age, however, the wrong thing to do is to paint with a big brush as there are many youthful 80 year olds.   

The SRES course forced me to be a sponge as a lot of terms -- demographics (Active Retirees, Baby Boomers, Generation X) to finances to lifestyles -- were tackled. The next step is to take the 147-page manual and use its concepts in my daily career as a full-time Realtor.

I have received my SRES certificate

Course diploma will assist me in understanding older segment of consumers

Unless you are an actuary and you must stare at lifespan charts for a living and rarely permitted to leave your cubicle in an office high-rise at a life insurance firm, life is not about analyzing facts and figures.

However, it is commonly understood that in Canada – and certainly in southern Ontario -- we have an aging society.

Statistics Canada recently released its 2011 numbers, which in essence told us something we already knew: “The share of seniors 65 years and over among the Canadian population was 14.8% in 2011, up from 13.7% in 2006. However, the proportion of seniors in Canada remained among the lowest of the G8 countries.”

In Ontario, that percent is 14.6 – only slightly lower than the national average.

In terms of real estate sales and marketing what does this mean? Really not a lot because people are living longer and want to stay in their house living independently.

Meanwhile, those who do want to sell the home in which they raised a family certainly have different challenges than a young family when considering a sale.

I did post here previously that I recently took a course in London in which a designation or specialist tag would be the result.

I can now say I’m a Senior Real Estate Specialist. This SRES term is recognized by both the Canadian (CREA) and American (NAR) governing bodies for real estate.

Not only did I receive a certificate in the mail, but a folder with additional background information to accumulate with the large textbook I acquired with the course. My knowledge base was increased as the course’s topics ranged from a study of demographics to the pros and cons of reverse mortgages. The conversion of a RRSP to a RRIF at age 71 was explained, as was the idea of ‘activities of daily living’.

The SRES council documents included a letter stating: “The course (you) completed for this important designation has given you a formidable baseline to serve the needs of these consumers.”

They always say that successful sales people are able to quickly put themselves into the shoes of the consumer they are working with. The SRES designation will assist in the empathy required for a person down-sizing to an apartment from a larger home. However, the main reason I wanted to partake in the course is that many of my clients already are in the category of empty-nesters.

At the end of the day, every situation is different, every family is an individual house, no two houses are the same, and every individual is unique.

As I said in the previous writing about the SRES course: The next step is to take the 147-page manual and use its concepts in my daily career as a full-time Realtor.  

In a couple days I will re-post my original writing after just completing the course.

A honk to support Car Free Sunday

Dundas to be closed: VanSittart to Wellington

The car has become a symbol of progress, and therefore smog for congestion, plus traffic congestion.

Car Free Sunday is June 10 (11 a.m. – 2 p.m.) on Dundas Street in Downtown Woodstock (VanSittart to Wellington), which is an event that represents a good idea – more walking and fresh air, and less honking and emissions.

“I am encouraging you to leave your cars at home and to bike, walk or run Downtown and enjoy the many free family fun activities,” said Woodstock city council member Jim Northcott in the June edition of What’s On Woodstock (WOW) magazine.

“The mission of Woodstock’s Car Free Sunday is to encourage people to adopt a more active and environmentally responsible lifestyle and to choose an active means of transportation for short distances,” Northcott added, who on council also sits on the Woodstock environment advisory committee (WEAC).

With Dundas Street closed, activities will include a five km fun run, many children’s activities, a historic walking tour, and fitness demonstrations by groups such as yoga, tai chi and dancing.

In WOW, Northcott describes this event as creating: “an urban playgrounds celebrating public spaces, active living, alternative modes of transportation and the natural environment.”

Dundas will be closed again later in the summer: Summer Streetfest or the annual BIA Sidewalk Days are Aug. 9-12.