Your Real Estate Partner - Terry Farrell, Senior Real Estate Specialist

Ah, Spring. It’s the season of rebirth, of flowers, of children getting out of school and of for sale signs on front lawns. If you’re thinking about selling your home during this season, here are a few suggestions:

-- Spring for a fresh coat of paint. It’s the most cost-effective pre-sale improvement you can make.

-- Spruce up your landscaping. Adding a few extra plants and trimming your trees will add to your home’s curb appeal.

-- Start spring cleaning. Clear out your clutter and box up your collections temporarily, so buyers will see your house, not your stuff.

-- List your home for sale with a REALTOR. Real estate licensees who belong to the National Association of REALTORS are bound by a professional code of ethics.

As a REALTOR and seniors specialist, I can refer you to painters, gardeners and house cleaners to help you get your home ready to sell.

Enjoy the season,

Mortgage Interest Rate Update

Mortgage interest rates moved above 7 percent in early March 1999.

The rate for a 30-year fixed mortgage averaged 7.06 per-cent for the week ended March 4, 1999, according to Freddie Mac’s Primary Mortgage Market Survey. For the week ended January 7, 1999, that rate averaged 6.79 percent. The rate for a 15-year fixed mortgage averaged 6.7 percent in the most recent period, up from 6.43 percent at the beginning of the year. Adjustable-rate mortgages (ARMs) tied to the one-year Treasury index averaged 5.74 percent, an increase from 5.61 percent in the earlier period.

Points and fees were roughly unchanged at an average of approximately

1 percent for all loan types.

"Refundable" Entrance Fees

The nation’s 2,700 continuing-care retirement communities offer an attractive alternative for people planning ahead for housing and medical care in their elder years. These communities operate under complex financial arrangements that have some traps for the unwary person.

Consider the so-called "entrance fee," which can amount to $100,000 or more. If you expect to pay such a fee, it should be refundable if you move out of the facility, and it should be secured by property or other assets you can claim if the facility runs into financial trouble. Find out how entrance fees are invested, who manages those investments and how much money is in the reserves for refunds.

Be smart. Seek independent legal and financial advice and read your contract carefully before you sign up and start packing.

Housing Hot Spots in 2006

Nevada, Florida, Arizona and Arkansas will be the nation’s most popular housing markets for seniors during the next eight years, according to a new study from the National Association of Home Builders.

More Web Sites for Seniors

If the younger generations in your family are surfing the ‘Net and using e-mail to keep in touch, you’ll want to get in on the online action too. All you need is a home computer with a modem, an Internet access account and a telephone line. Once you’re online, here are some Web sites to visit:

-- Researching your family history? Try the Genealogy Home Page at http://www.genhomepage.com .

-- Managing your savings? Try the Federal Reserve Savings Bond Calculator at http://www.publicdebt.treas.gov/sav/savwizar.htm    .

-- Shopping for a managed care health plan? Use Medicare Compare at http://www.medicare.gov  for research.

-- Have a question about age discrimination, Medicare or pension rights? Visit the National Senior Citizens Law Center at http://www.nsclc.org  .

-- Keeping an eye on the Feds? Fedworld at  http://www.fedworld.gov   leads to government bulletin boards.