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With Home Sales Lagging, The Lakes at Pointe West Offers Solution for Seniors
Date:6/23/2012

Vero Beach, FL (PRWEB) June 24, 2012

Embittered homeowners looking for good news in the May home sales report were disappointed by the National Association of Realtors’ recent finding that home sales fell 1.9% during the month.

But the report did contain a silver lining – when compared to May 2011, sales were up 9.6%.

Karen McHenry who is the executive director of The Lakes at Pointe West, a local retirement community in Vero Beach, Fla., says the report is consistent with the experiences of many of the older adults who finance a move into her community through the sale of their home.

“We have noticed a significant increase in traffic this spring as compared to last year at this time,” McHenry said. “Overall, we are finding that when a home is staged and priced appropriately, it is selling in a timeframe that is shorter than the national average.”

According to a National Housing report developed by real estate firm Remax® in April of this year, the national average of “days on market” was 101. Days on market refers to the number of days between a house first being listed in an MLS and when a sales contract is signed on that house.

McHenry says many older adults use their primary asset, home equity, to pay for a retirement living option and have been particularly affected by the housing downturn. One solution for affected seniors is The Lakes’ “Why Wait” program which only requires future members to pay 30% of the community’s equity fee and move in immediately while their home is on the market.

By participating in this program, homeowners also receive one year’s worth of interest-free financing on the remaining 70% of the equity fee. The Lakes does require homeowners participating in “Why Wait” to use a realtor associated with their community Transitions program. This realtor,
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