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Try It NOWCategory: Retirement Real Estate
July 3, 2021 — Existing home prices hit a record high in May at a median of $350,000, according to the National Association of Realtors (NAR). A shortage of inventory and building materials, low interest rates, flush and frustrated buyers, and pent-up demand are some of the reasons why. Everyone…
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Category: Health and Wellness Issues
July 7, 2021 — Not so long ago the two most common types of supplemental medical insurance for retirees were employer sponsored plans and Medigap insurance. Medical insurance for retirees is increasingly rare, with very large corporations and governments about the only employers providing it. Medigap plans, which cover additional…
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Category: Active adult communities
Note: We are once again grateful to Joe West of the Community Associations Network, LLC, for helping us research this topic.
July 10, 2021 -- The collapse of Champlain Towers South near Miami, built in 1981, has made owners and buyers nervous. The dream of living near the ocean has been interrupted by the fear that some buildings might not be safe, and that owners' investments could be in danger. It also highlights the problems that condo, community, and home owners associations (HOAs) face all around the country. Some 70% of homes and condos in Miami were built prior to 1970 - more than 50 years ago. Since then they have been exposed to all kinds of problems like those at Surfside - salt air and salt water incursions, rising water tables, aging concrete, and older building codes. The problems are worse along the coasts, but, like us baby boomers, even buildings far inland are not exempt from the vicissitudes of age. And who are the people who are going to have to deal with these expensive, highly technical problems - you and your condo board!
The causes of the Surfside collapse and the actions of its condo board members have been a staple of discussion in the news. The problems with the building were well known for a long time. After great struggles and almost a complete turnover of its board members, a $15 million plan was approved to correct water incursion and corrosion issues in the 167 unit building, although work had not started on it. Board members and residents fought over the expensive plan, which was going to represent a hardship for many owners. Some experts believe even those repairs might have too late, and still not have prevented the building's collapse.
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Category: Best Retirement Towns and States
July 18, 2021 -- Some people thinking about retiring to Florida might worry that they won't be able to afford it there. But the good news is that the Sunshine State is so big and has so many regions that it has plenty of less expensive places to retire. Central Florida is one of the most affordable regions within the State, where home prices are often well below Zillow's national Home Value Index of $293,349 and Florida's Index of $297,390. Home to hundreds of thousands of retirees, the area is known for its many lakes and lakeside living. The area is filled with active adult communities, many of which are quite inexpensive.
In this article we will highlight several cities and towns in Central Florida where home prices are below Zillow's Florida Home Value Index. We will include a few more towns that are at or slightly higher, because they are exceptionally nice places to retire. Unless otherwise noted, home prices are from Zillow. See map below:
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Category: Active adult communities
July 21, 2021 – So you managed to get lucky. It looks like you might win the bidding to buy that condo, or a home in an active adult community. But before you submit the winning offer and break out the champagne, here are 4 things you need to do…
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Category: Singles and Retirement
July 27, 2021 — As many Members have reminded us over the years, it is not safe to assume that everyone entering into retirement is part of couple. Many folks are single by choice, others by divorce, not to mention those who have lost a partner or spouse to disease…
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