U.S. and World News
:
Real Estate
News
Long Term Care Eats Real Estate ... Two Square Feet a Day, Experts Say
Fri, 29 Jul 2005, 13:28:00 EDT
KIRKLAND, Wash. - July 29 (SEND2PRESS NEWSWIRE) -- The rising cost of long term care has become a monster capable of devouring American homes in large, quick bites. So says Cameron Truesdell, CEO of LTC Financial Partners, LLC, the nation's leading long term care insurance brokerage representing multiple carriers.
Photo Caption: Cameron Truesdell, CEO of LTC Financial Partners.
"We've translated health-care dollars into square feet of real estate," says Truesdell, "the homes we spend our lifetimes acquiring and improving." LTC Financial calculates that the current cost for a single day of long term care roughly equals the selling price of two square feet of the average American home.
The average rate for a private room in a nursing home is now $70,080 a year, according to the latest MetLife Market Survey of Nursing Home and Home Care Costs, released in September, 2004. That's about $190 a day, double the value of a square foot of the average American home at today's selling prices. According to the National Association of Realtors, the median price for US homes in June was $219,000. With an average 2,300 square feet per home, that equals $95.22 per square foot, about enough to pay for half a day of long term care. The ratios vary, of course.
Here are some examples.
* 1,600 square-foot home in Andalusia, AL: $136,739
2.25 - Square feet eaten by one day of long term care
* 2,588 square-foot home in San Diego, CA: $650,000
0.76 - Square feet eaten by one day of long term care
* 1,530 square-foot home in Flora, IL: $92,000
3.19 - Square feet eaten by one day of long term care
The less a home is worth, the bigger the relative LTC bite. For example, consider a 1,855 square-foot home for sale at $44,900 in Elmira, New York. It would be "eaten" at the whopping rate of 7.93 square feet a day! "If you're not protected by insurance, figure that for every day you're laid up, there goes another sizeable chunk of your home," says Truesdell. His organization has calculated that rural Americans stand to lose about an acre a day of prime farm or ranch land.
What's the solution? "To save your home, estate or farm, get the right type of long term care insurance, and get it fast," says Truesdell. "It can be very affordable. Many people are surprised when they learn the monthly rates and the tax breaks." A free informational guidebook may be requested at www.eranova.com/LTCFP/contact.htm
Truesdell's national network (experts on LTC insurance coverage) is also offering free cost comparisons of policies available from multiple leading carriers; and information on group-coverage discounts and tax advantages in various states.
LTC Financial Partners, LLC - 3550 Carillon Point - Kirkland, WA 98033
NEWS SOURCE: LTC Financial Partners
Send2Press® is the originating wire service for this story.
» Read More Real Estate News
» Other Send2Press Industry News by Category
More Information and Media Contact:
For questions about this story, contact the news source:
»
Click Here for Contact Information
THE CONTENT OF THE ABOVE NEWS STORY WAS PROVIDED BY THE NEWS SOURCE WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT SEND2PRESS (THIS WEBSITE).
O T H E R R E S O U R C E S
T E R M S O F U S E
This article is Copr. © 1983-2008 Neotrope / Send2Press. Reproduction of this news article version requires written authorization. You may freely link to this article. Journalists (see the section "Journalist Resources" above) may use orig. news release as the basis for an article.
News Websites may republish the "news release" text version linked to above under "Journalist Resources" except must retain "Send2Press Newswire" as the source of this news if used verbatim. Websites which offer/sell PR or newswire services, or web promotion services, or "splogs" may NOT reprint our content in ANY form. Send2Press Newswire is a service mark of, and "Send2Press" is a registered trademark of, Neotrope. Creative Commons - Some Rights Reserved (3.0) - Attribution Required.
DISCLAIMER: the above article is believed accurate but not guaranteed, and is based on business news supplied by the source (LTC Financial Partners). The noted source is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements. Neotrope/Send2Press makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news and profiles are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope or Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.
REFERENCES: Long Term Care Eats Real Estate ... Two Square Feet a Day, Experts Say, Cameron Truesdell, LTC Financial Partners, Eranova, long term health care, insurance, real estate, Kirkland, Washington, leading long term care insurance brokerage, multiple carriers, MetLife Market Survey of Nursing Home and Home Care Costs, Jul 29, 2005.
VIEWED BY MEDIA (and public): 4864 times (2 today, 15 this week,
25 this month, 707 this year)
| Lone Star Brewery to Reopen as Mixed-Use Living Destination |
| Two American Families Passionate About Costa Rica's Guanacaste Gold Coast are Creating an Innovative Residential Resort Community Overlooking the Pacific |
| IntroIn.com Beta Release Invites Apartment Seekers and Renters to Exchange Information |
| Title Data Settles Dispute with the Texas Attorney General |
| Flagler County, Florida: All Indications Now is the Time to Invest |
| BidaBingers Sell Faster with Real Estate Auctions |
| Real Estate Auction Could Yield a Bargain for Rare Diamond Head Oceanfront Land |
| Founder of Dancing Home Travel, Inc. Now Able to Hire 50 People |
| Hundreds of Philadelphia-area Homeowners to Receive Foreclosure Prevention Help at Free, Walk-in Workshops with Mortgage Lenders and Counselors |
| Selling Your Business is Possible in Tough Times |
| Hundreds of Ohio Homeowners to Receive Foreclosure Prevention Help at Free, Walk-in Workshops with Mortgage Lenders and Counselors |
| Former NFL Coach Offers Introductory 'Tell Them 'Da Coach' Sent You' Golf Packages In Celebration of his two new Orlando Resorts |
| Whisper Mountain Property Chosen for Southern Living Magazine's Eco-Friendly 2008 Green Idea House |
| SE Florida Better Business Bureau Buys New Digs! |
| Thomas J Bradley and Associates to Acquire Approximately $30,000,000 in Restaurants |
| Martha Rose Construction, Inc. Joins U.S. Department of Energy Secretary Bodman to Launch Builders' Challenge in Orlando, Fla. |
| Global Quarters Launches World's First Fractional Ownership Brokerage |
| U.S. Facilities, Inc. Announces New COO |
| Parents Will Pay For Better Neighborhoods, But Can They Find Them? |
| Eval D Media, Inc. Announces the Roll Out of CreKnow.com, a New Online Tool to Help Commercial Real Estate Investors Maximize Profits |
| American Business Advantage Partners with Loan Service to Save People's Homes |
| WNY FSBO Company Helps Homeowners Sell Commission-Free |
| Slowing Housing Market Drives Hawaii's Largest Real Estate Auction |
| Realty Austin Innovators Shape Agency for Success in Austin's Fast-moving Luxury Home Sales Market |
| Value of Eco-Friendly Homes Heats Up With Discussion of Global Warming |
» View All News Channels
» Press Release Services
» Send2Press Home Page
|
|
|
|
|
Subscribe in a reader
PLAIN TEXT FORMAT (UTF-8)
PDF FORMAT
