Lisa Dunn

Real Sage Advice
A newsletter addressing Senior Housing, Senior Care Options, Aging Issues, and Senior Events in the Minneapolis/St. Paul Metro Area.

Brought to you by Lisa Dunn, Edina Realty, and The Senior Housing

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In this issue:


Veteran Benefits


Serving our country is often a difficult but honored decision made by thousands of men and women each year. To help with the sacrifices made by these men and women, a variety of benefits are made available to veterans to ensure their well-being and future success after their time of service. Benefits offered to veterans vary from educational assistance to entrepreneurial guidance, but include: job training, VA health benefits, retirement funds, education benefits through the GI Bill. The VA Home Loan Perhaps the most important benefit for veterans pertains tosaving money while buying a home. Since its creation in 1944, the VA loan program has helped more than 18 million veterans and active duty service members homeownership. The VA home...

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Reverse Mortgages...the next waive of foreclosures?

Reverse Mortgages are very simple to get. A 62 year old homeowner taking out a reverse mortgage doesn't face the kind of scrutiny as someone taking out a first mortgage to purchase a home. There isn't any check for monthly income, or even a credit check! The primary condition is the age of the homeowner, and the equity in the home. Unfortunately, there are a couple of factors that have left FHA with a budgetary short-fall (first time in history) with reverse mortgages.


First, Reverse Mortgages have been marketed as "non-recourse" loans. For example, when the homeowner with a reverse mortgage on their home dies, and if he/she can't sell the house for what is owed on the property (think short sale) This is a pretty compelling feature for...

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When do you need a permit?

Ask 5 different people when you need a building permit, and you'll likely get 10 different answers. In fact, there are only 14 circumstances in Minnesota where you are exempt from needing a permit.




1) one-story detached accessory structure used as tool and storage sheds, playhouses and similar uses, provided the floor area does not exceed 120 square feet.

2) fences under six feet

3) oil derrick (I'm not kidding)

4) retaining walls under 4 feet unless they support liquid

5) water tanks not under ground, under 5,000 gallons and the ratio of height to diameter or width does not exceed 2 to 1

6) sidewalks and driveways not part of an accessible route

7) decks and platforms not more than 30 inches above...

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Boomers booming on facebook?

Facebook Man

According to Technology Live, 47% of Boomers have a facebook profile.

"Last year, social media boomed for Baby Boomers: 47% of them actively maintained a profile, compared with 32% in 2008, according to eMarketer."

It doesn't tell us who did the survey, or how many were surveyed, but perhaps reflects a boom in boomer's use of facebook.

Perhaps this means a growing trend for baby boomers to use facebook to find referrals for senior services on facebook.

Next time you're on facebook, join us on the RealSageAdvice page!


What Does the Housing Market Mean for Your Plans to Make a Move?

Stone house by Jsome1.

Photo by Jsome1

Lately there have been glimmers of hope being report by the National Association of Realtors and by the local Twin Cities media that our local housing market may have finally bottomed out. If this is true, and this real estate agent thinks it's likely (depending on our local job market) what does that mean for your move and for future senior housing options?

This article at Senior Housing News projects that seniors will likely try to stay in their homes for a couple of more years and try to make gains on equity that they believe they have lost over the last couple of years.

My two cents: I saw an article last week that projected it would take until 2020 for home equity to rise to the levels it was in the...

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