John Ramirez with Real Estate One

Photo by Sheila Doeden

We welcomed John Ramirez to the radio program this past weekend. John is a successful realtor with Real Estate One here in Ann Arbor. John talked about the local real estate market and how it has fared better than the rest of Michigan. The university and the medical facilities provide an important employment base that supports the market.

Locally, prices are fairly stable right now, according to John. The lower and middle market —those homes $300,000 or less — have seen a slight uptick. The more expensive houses are still under more price pressure.

We talked about sellers renting out their homes, which can be a good option for seniors who want to downsize. Right now, many families can’t necessarily qualify for a home purchase, but they need a house. While you are waiting for sale prices to start rising again, renting your home may provide most if not all of the cash flow to cover your mortgage payment and taxes.

For the elderly who are downsizing, condos are generally a good option. The no-maintenance aspect makes them attractive for those not wanting or not able to mow the lawn and shovel the sidewalk.

From an investment standpoint, seniors may want to consider putting 15-20 percent of their assets into real estate. Today a buyer can purchase a house and rent it out and have positive cash flow. You can “make money instantly” as John says, plus you have the potential upside equity growth.

To listen to the 13-minute talk with John, click the audio link:

We shifted gears for the second half of our show, with your co-hosts Sheila Doeden and I chatting about the frequently asked questions we receive on the phone. We get many calls at Senior Helpers from families looking for information on caring for elderly loved ones.

Maybe the most common question is “Does Medicare cover the non-medical in-home care?” and, unfortunately, the answer is no. Medicare does not cover non-medical or non-skilled care, nor does typical medical insurance.

This in-home care is covered by long-term care policies as well as some veterans programs. Non-medical in-home care is generally paid for by the families.

Medicare does pay for a lot, including skilled, medical in-home care. For those considered home-bound, this includes visits from registered nurses, physical therapists and occupational therapists. Medicare will also pay for required stays in rehabilitation centers such as Glacier Hills or Heartland.

We also hear, “What if my mother just doesn’t have any money. Does she have any care options?” Yes, Medicaid is a probable solution, and we encourage those with minimal income to talk with an eldercare attorney to apply for Medicaid. This program may be able to pay for care in a qualified facility or in a local adult foster care home.

Importantly, the qualification process for Medicaid only looks at the income and assets of your parents, it does not consider the adult children. The government does not require that the larger family pay for the care of their aging parents.

We also get calls from families needing to move their parents into a facility community, concerned that “nursing homes are depressing and dreary.” We coach that this is just not the case anymore. We are frequent visitors to very nice local facilities, including Brookdale Place, University Living, Hillside Terrace and Glacier Hills.

To listen to this 13-minute discussion, click the audio link:

Alan Caldwell and Sheila Doeden co-host Everything Elderly every Saturday morning at 8:30 on 1290 WLBY. In their day jobs, Alan and Sheila co-own and co-manage Senior Helpers, providing in-home care services, primarily to the elderly. Both can be contacted at homecareexcellence@seniorhelpers.com, or at 734-927-3111.