In recent years, adult community homes in Manalapan, New Jersey, have lost a greater percentage of value than single family homes, presenting a rare and attractive opportunity for people considering downsizing.
Comparing 2009 to 2006, median prices of adult community homes are down almost 34% versus around a 10% loss on a single family home for the same time period.
Adult community homes are the “top of the food chain” of real estate. Which means many homes have to sell with each buyer moving up, until the adult community home can sell.
Government incentives are finally having the impact to help these chains of purchases and sales occur, which will fuel the demand for adult community homes in the coming year.
Considering the spread of prices for adult community vs. single family homes, projected increased demand for the adult community sector, low inventory, low interest rates and Uncle Sam throwing in a $6,500 tax credit for existing homeowners who purchase a new home, this IS a great time to make the move to downsize. You could be looking at a significant amount of savings.
Contact me to find out what your home is worth and to get an idea of what downsizing or investment opportunities are available for you.
Comparing 2009 to 2006, median prices of adult community homes are down almost 34% versus around a 10% loss on a single family home for the same time period.
Adult community homes are the “top of the food chain” of real estate. Which means many homes have to sell with each buyer moving up, until the adult community home can sell.
Government incentives are finally having the impact to help these chains of purchases and sales occur, which will fuel the demand for adult community homes in the coming year.
Considering the spread of prices for adult community vs. single family homes, projected increased demand for the adult community sector, low inventory, low interest rates and Uncle Sam throwing in a $6,500 tax credit for existing homeowners who purchase a new home, this IS a great time to make the move to downsize. You could be looking at a significant amount of savings.
Contact me to find out what your home is worth and to get an idea of what downsizing or investment opportunities are available for you.
And besides, do you really want to shovel your own snow again next winter?
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JoAnna Siminerio
Weichert Realtors - Marlboro / Manalapan
732-598-6823 cell 732-536-4400 x112 (office)
JoAnna@JoTheRealtor.com
www.JoTheRealtor.com
Let's Connect!
jo..good question on the down size of the market
I didn't realize that the adult community is the top of the food chain, it sure makes sense.
Hi Jo!
I hadn't thought about adult communities (we don't have any in the area I work) and hadn't realized what an impact this economy has had on them! You are right...this is a great time to be buying in those communities since they now have the $6500 credit! Thanks for pointing it out!
Excellent post Jo. You know...I have actually been talking to my mortgage customers about moving from their condo to a multi family building instead of a single family residence. Not only for the obvious reasons ( the other rents pay for much of the expenses) but also because I think there is greater upside on multi family properties right now.
Hey Jo,
You make a great point in this post. As usual, I love your graphics!
It's a shame how hard hit the adult community sector has been in my area. Got me thinking about buying my retirement home NOW!!!
Jo, great illustration, very effective. You have a point, maybe we should be thinking about that AC home (lol).
Jo - This trend is only going to get bigger and bigger so this price drop is definitely a great opportunity for many folks ! Great blog ! Hope all is well and happy new year ! Will be stopping by your blog more often !!! ~ Chris