Condo Market Roiling Under Bad News Assault

Category: Retirement Real Estate

August 28 — If you have been thinking about buying a retirement condo a recent news item in the Wall Street Journal might give you some pause. It seems that the condo market is now experiencing troubles as speculators default on their mortgages or fail to execute their purchase contracts. As banks and developers are forced to unload properties in a distressed market prices are falling, causing underwriters to lower appraisals and make loans harder to get. Feeding the fire is a rapid growth in newly built units – construction of new condos increased 145% in 2006, the highest level since 1985. It appears that new condo projects and condo/hotel conversions are the properties experiencing the most difficulty. Obviously most of these properties are not being built as retirement condos or in retirement communities – but the bad news in general markets is not without an effect on the active adult retirement market either. (more…)

Posted by Boomer1 on August 27th, 2007

Cooperatives Help Aging at Home Movement Grow

Category: Eldercare

August 25 – More than 9 out of 10 people over 65 would prefer to stay in their own homes as they grow older, according to a survey by the AARP. The desire to live where they feel comfortable amidst familiar surroundings is powerful and understandable. Unfortunately, as medical needs increase and life skills like driving decline, it often becomes more and more difficult to continue living independently. Aging adults face more than their own frailties as well, because their adult children often pressure them to move to a retirement community or Continuing Care Retirement Center (CCRC).

More and more people, according to a recent New York Times article, are starting to (more…)

Posted by Boomer1 on August 24th, 2007

10 Most Popular Retirement Towns Announced

Category: Active adult communities

Madison CT — August 15 — Topretirements has been curious to see which towns and cities its visitors are most interested in learning more about. The results offer significant insight into what active adults think are the best towns to retire to. The top profile is generally: small town or city, Sunbelt location, vital downtown, usually with a college or university in town. (more…)

Posted by Boomer1 on August 15th, 2007

At Last – A List of Certified Retirement Communities

Category: Best Retirement Towns and States

Updated July, 2014 — So far 7 U.S. states have embarked on programs to identify certified retirement communities as part of their economic development plans. This article will provide a list of the certified retirement communities in those states.These states are all in the south – Mississippi, Louisiana, North Carolina, Texas, Kentucky, Tennessee, and West Virginia. In total over 85 communities have been certified (in West Virginia they are called “designated”, in Tennessee the communities are selected (more…)

Posted by Boomer1 on August 10th, 2007

Cash Rules – Active Adult Community Buyers Paying Cash Dominate

Category: Retirement Real Estate

August 7 — For most people hoping to buy a home these days the “bad news that’s really good news” just got worse. What we mean by that is that the reeling real estate market, which is experiencing lower prices and increased inventories favorable for buyers, is also now under a credit siege. Dozens of mortgage companies have gone out of business so far and the market for even the highest quality mortgages is slowing to a standstill. There might be plenty of homes for sale, but if you need a mortgage you either might have trouble getting it, or you might have to pay more for your loan. (more…)

Posted by Boomer1 on August 7th, 2007

Seriously – Nintendo is Latest Rage in Retirement Communities

Category: Baby Boomer Retirement Issues

August 3, 2007 – It couldn’t be more ironic for those of us in the baby boomer generation that spent the last 20 years berating our kids to “get off the darn game console and go play outside” (like we used to!). Our kids might smirk to learn that Nintendo’s latest marketing coup is paying off – selling its new Wii games to baby boomers and retirement communities. A frequent marketing venue: AARP conventions!

By way of background we had better explain Wii. It is basically a device from Nintendo that you wear that allows a virtual experience on your TV – without the equipment and place to play it. So you can bowl a perfect game without a bowling alley, smash Tiger Woods-type 300 yard drives without a course – do just about anything. (more…)

Posted by Admin on August 2nd, 2007