Toss It Tuesday – Downsizing with Estate Sales – Part Two

estate sale shopping cart signIn Part One of this series, we learned that most estate sales occur when the homeowner is downsizing.

Now you will learn more of the important things to know when considering using an estate company to conduct your downsizing sale.

What do estate sales companies charge? Estate companies generally charge 30% to 35% commission on the sale’s gross proceeds. Additional fees may also be charged for transferring some items off-site for sale. Even with the commission charged, an estate sale will almost always net more than a garage sale you hold on your own (and you don’t have to do as much work!)

What are estate auctions? Estate auctions, which can be held on-site or off-site, work a little differently, although generally cost the same. On-site auctions are similar to estate sales, except items are not priced in advance. Instead, items are placed strategically and auctioned in an order pre-determined by the auctioneer. When liquidating a large estate, it is more practical and efficient to have an estate sale or an on-site estate auction.

Off-site sales can be advantageous when the sale is not extensive and items can be easily transported to the auction house. The auctioneer will come to your home to evaluate your belongings, and then arrange for your items to be to be boxed and transported to their site. You will most likely need to gather together the items for auction. Your auction will be scheduled and the date advertised, just like an estate sale.

What do estate auction companies charge? Estate auctions typically charge between 25% and 35% of the gross proceeds, comparable to estate sale fees. You can also expect a transportation fee for removing items from your home, depending on the location and the amount of items being transported.

What is right for me – sale or auction? Time is the biggest deciding factor – if you are planning on staying in your home right up to closing, there will probably not be enough time for an estate sale, which can take from a week to a month to prepare for and hold. If you can move out of your home (including packing and taking the belongings you want, and leaving the rest) a few weeks before the new owners take possession, an estate sale is viable. Your time frame will help you determine whether an estate sale or auction makes sense for you.

Will I really get market value for my “stuff”? There is a big difference between “market value” and “resale value.” Often we expect the price we paid for the item to determine its re-sale value. while in fact, most items depreciate in value, with the exception of some antiques and collectibles.

Your 20-year-old refrigerator may not bring $20, if it sells at all. Your old sleeper sofa might yield an end-of-year tax deduction if donated to charity. The old pot you’ve been using in your garden for years, could sell for $50. This illustrates why using professional and reputable estate sale companies or auctioneers to value and sell your belongings, rather than doing it on your own, will generally maximize the proceeds resulting from the sale.

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DAYNA WILSON: As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

Toss It Tuesday – Downsizing with Estate Sales – Part One

estate sale shopping cart signDid you know that most estate sales occur when the homeowner is downsizing?

In this two-part series, you will learn the important things to know when considering using an estate company to conduct your downsizing sale.

What do these companies do for me? Estate sale companies evaluate and set up your items to sell, price them accordingly, monitor the sales and the flow of traffic, and provide security and extra personnel to deter theft during the sale. They will arrange for appropriate permits and advertise your sale in advance, to ensure a high flow of traffic.

What goes and what stays? Estate sale companies will ask you to leave everything you want sold in the estate sale exactly where it is, allowing you to focus on packing and removing just the items you want and need – no sorting, organizing or arranging items you no longer want. For instance, simply leave that 45-piece china set in the cabinet and the estate sale company will clean it and ensure it’s attractively displayed. Lastly, estate sale companies also recommend that you do not discard any items – allow them to be the judge of what should be thrown away, taking the guesswork out of the equation for you.

How are my belongings priced? Estate sale companies are experienced in pricing items based on current market value. Although to you, your great grandmother’s old and tarnished teapot may appear worthless, an expert might recognize its real market value. These companies’ personnel are often trained in antiques and appraisals – their expertise in pricing your belongings at appropriate market value will help you maximize the results of your sale or auction.

Why not just have a garage sale? You can request the estate sale company set a “reserve” on any item. If it does not sell for the minimum amount you set, you can keep it instead of selling it for less.

Next Toss It Tuesday – Downsizing with Estate Sales – Part Two

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DAYNA WILSON: As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

Toss It Tuesday – Tips for Getting Rid of All That Stuff You Don’t Need

Simplifying your aging parents’ life can be complicated and stressful…especially when downsizing their belongings before a move to a more manageable living space.

TIP: When in Doubt…Sort It Out!

Use these categories to sort your parents’ belongings:

1) Necessities – What are the most commonly used items in your parents’ everyday living? Furniture, personal toiletry items, kitchen and eating utensils, clothing, and more. You want to make sure these items are moved to your parents’ new location.

2) Family Heirlooms – Jewelry, furniture, china and more.

3) Sentimental Items or Keepsakes – Gifts, photos, souvenirs

4) Disposables – so sentimental value and not useful at new location

5) Charitable Contributions – unwanted musical instruments, craft supplies, books

6) Trash – all items that can be thrown out

7) Valuables – items that can be sold

PROCESS: Use three different colors of Post-It notes to classify the items in Categories 1 (Necessities), 2 (Family Heirlooms) & 3 (Sentimental Items) that will go with your parents to their new location. This will make it easier for you to figure out what needs to go where as you sort through your parents’ possessions.

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DAYNA WILSON: As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

Efficiently Declutter your Home in 5 Easy Steps

Efficiently Declutter your Home in 5 Easy Steps. Home sellers always ask me what they should do to get ready to sell their home.

Step #1-Make a list. Decide which part of the home you are tackling first, then second. This will get you motivated and you will already start to feel more organized!

Step #2-Start in ONE space, or better one area in a room. A drawer, a closet, a shelf, a cabinet. dump it all out, and keep only the essentials. If your home is like mine, you have a “junk drawers’ in the kitchen. We have out of date coupons, advertisements, junk mail, recipes, old greeting cards, pens that don’t work…you get the picture. Closets: donate what you haven’t worn in a year that is in good shape, use old t-shirts for rags, toss the rest.

Efficiently Declutter your Home in 5 Easy Steps

Efficiently Declutter your Home in 5 Easy Steps

Step #3-Take it slow. Giving stuff away can be emotionally draining, space out the process. Once you’ve gotten rid of the waste, trash, junk you can begin to address the personal items you hold on to for personal reasons. Do they bring you joy? Do they hold special meaning or bring back fond memories? Address each one of these items one at a time. Giving things away can feel really great. And, giving a new life to an object that you have enjoyed but no longer need can bring the new owner joy, too!

Step #4-Put a process in place moving for the future. Once you have your home organized, make sure you and your family have a plan to keep it that way. Don’t know how? Consider contacting a professional organizer for help with this.

Step #5-Set aside time. Whether it’s a week, a day each month, or 1/2 day each week…or even a few minutes a day-do it! Put it on the calendar. If you don’t plan it, you might be just like me and keep putting it off. Remember, it’s a process, take it slowly and good luck!

Boomers Lifestyle Show – The Dream Team was in Full Force

We had so many wonderful folks come by our booth to say, Hello! Did we see you there? We’re sorry if we didn’t get a chance to chat at length, but the East Bay Senior Resource Solutions ‘Team” is always open to one-on-on discussion regarding your specific family needs.

My “Dream Team” of seasoned experts can assist you and your family with the following:

Geriatric Care Management Counseling

In-Home care

Long Term Care planning

Financial Planning

Reverse Mortgage

Tax Advice

Bookkeeping or Bill Paying

Estate Planning or Probate

Conservatorship

Cremation Pre-planning

Downsizing my parents home

Age in Place home remodeling

Grab bars or wheelchair access

Home Safety and Easy Access

Selling or Buying a home

Moving and help packing

Design Services or Staging

Estate Sale and Move Management

Help with what to keep vs donate

Managing and preserving memorabilia, collections or priceless heirlooms

Paper Management & Digital Organizing

Repairs and Maintenance

Contact us today for a complimentary consultation: http://www.eastbaysos.com/contact.html

We had a blast and hope you did as well at last weekend's show.

We had a blast and hope you did as well at last weekend’s show.

 

 

 

 

3 Minute Organizing Tips for Boomers and Seniors!

Here are some tasks that you can accomplish in the time it takes to brew your morning tea or coffee: 
•Empty the dishwasher
•Clean out a shelf or drawer in the refrigerator
•Sweep the kitchen floor
•Load the dishwasher
•Go through your coupon drawer and weed out expired ones
•Straighten up your junk drawer
•Clean out a shelf in the pantry
•Write out your grocery list, or “to do” list
•Return a phone call/make an appointment
•Read the front page of the newspaper and then recycle it
•Take out the trash
•Refill salt/pepper/olive oil containers
•Call to cancel an unsolicited catalog
Thanks, Home Transitions, for these tips!

For more information about organizing, downsizing, moving, estate liquidation and selling your home, please contact:

Dayna Wilson – Walnut Creek CA Realtor-Senior Real Estate Specialist (SRES) www.Day-RealEstate.com