Real Estate

Landlords Find Alternatives to Security Deposits

NAR Daily News Magazine - January 13, 2020 - 1:00am

Property managers are finding ways to ease the impact of a large initial payment on their new tenants.

Categories: Real Estate

It’s Hot to Live in a Small City

NAR Daily News Magazine - January 13, 2020 - 1:00am

Realtor.com® releases its latest list of top housing markets, and several smaller cities are moving up in the ranks.

Categories: Real Estate

The Key Listing Ad Words That Attract Buyers

NAR Daily News Magazine - January 13, 2020 - 1:00am

Depending on where consumers live, “cozy fireplace,” “pool,” or “brick home” may catch buyers' eyes.

Categories: Real Estate

Downsizers Reveal Their Biggest Regrets

NAR Daily News Magazine - January 13, 2020 - 1:00am

Some homeowners find that moving to a smaller home after their supersized digs has some downsides.

Categories: Real Estate

Rising Child Care Costs Put a Squeeze on Homeownership

NAR Daily News Magazine - January 13, 2020 - 1:00am

“One of the major challenges, when it comes to affording a home, is the high cost of child care,” a new analysis finds.

Categories: Real Estate

Where Owners Are the Most, Least Likely to Move

NAR Daily News Magazine - January 13, 2020 - 1:00am

Homeowner tenure can vary greatly by region. In general, people in the West like to move and those in the Northeast like to stay put.

Categories: Real Estate

Coldwell Banker Helps Agents Comply With New MLS Rules

NAR Daily News Magazine - January 10, 2020 - 1:00am

The brokerage’s “Exclusive Look” program enables its salespeople to market limited exposure listings while honoring NAR’s Clear Cooperation policy.

Categories: Real Estate

NAR Vows Support for Trump’s Environmental Reforms

NAR Daily News Magazine - January 10, 2020 - 1:00am

The association’s president, Vince Malta, says proposed policy changes will help to alleviate housing shortages.

Categories: Real Estate

Iran Conflict Influences Drop in Mortgage Rates

NAR Daily News Magazine - January 10, 2020 - 1:00am

The 30-year fixed-rate mortgage falls to its lowest level in three months as investors retreat to safer money markets.

Categories: Real Estate

Most Popular Keywords in Property Descriptions

NAR Daily News Magazine - January 10, 2020 - 1:00am

A well-crafted explanation of the home can play up its main assets and grab buyers’ attention online.

Categories: Real Estate

NAR Approves Sweeping New Fair Housing Action Plan

NAR Daily News Magazine - January 10, 2020 - 1:00am

The association and HUD will work jointly on public service announcements and other proactive initiatives to communicate the importance of fair housing access to the public.

Categories: Real Estate

Buyers Beware: Senior Living Comes With Risks

Daily Real Estate News - January 9, 2020 - 4:35pm

(TNS)—The market for housing communities intended for those ages 55 and older recently got a big makeover, marked by a much wider selection of amenities, homes and target buyers than in the past. Developments featuring hiking and biking trails, big-name entertainment, athletic sports, community gardens and upscale and solar-powered homes are in. Golf courses and country clubs are no longer required features.

Top developer Del Webb continues to build massive projects with resort-like features, adding in more modern perks like a BMX pump track. Smaller developments target niche populations, such as equestrians, small plane hobbyists or retirees from specific professions. Private beaches, pickleball, film festivals, RV clubs and serious cooking classes are popular. Safety—most developments are gated—continues to be a key sales driver.

Rules defining these “active adult communities” are changing too. In addition to traditional 55-plus developments that prohibit younger buyers, the market now includes more developments that cater to older residents but don’t dictate ages of residents or visitors.

Meanwhile, the nation’s baby boomers have aged into willing and able target buyers. The generation holds about $8 trillion in home equity—an almost two-thirds cut of the entire nation’s—and it has made 55-plus developments one of the hottest markets going for U.S. home builders. Today’s developments are attracting buyers that never would have gone for traditional golf and tennis communities.

To get a sense of what’s on offer in active adult communities, check out the searchable resources at 55places.com, a brokerage firm that offers research, photos and reviews of thousands of these developments. (They don’t take money directly from builders of these developments but do hope to hook you up with an agent selling property in one. No endorsement implied here.) Numerous articles from real estate brokers and seniors organizations offer good basic advice on factors to consider when comparing 55-plus communities.

We’ve added below a few less-noted quirks of active adult communities that could have major implications for your happiness. While each of these points is a potential pitfall for buyers, they aren’t intended to deter sales in this evolving market. Rather, consider this information a basis for forming questions to ask in order to avoid unpleasant, post-relocation surprises.

Children may be closer than you think. “Active adult community” is a neutral term that can mean strict rules for age or none at all. While 55-plus restricted developments bar younger residents by law, “age targeted” developments can have any number of kids. It’s trendy for developers to broaden their potential buying pool, sometimes with a creative blend of both.

It’s important to ask where the lines are drawn now and in future development that may share facilities. Almost every community allows young visitors, but restrictions will vary widely. Can teenagers stay all summer and use the pools? Will the future club house for the family part of the development be isolated from the adults-only facilities or next door?

That pickleball court may never look so good again. Development companies typically maintain the pools, golf courses, bike paths and other amenities as long as there’s ongoing home-building. Once development is complete, they often hand over those responsibilities to another entity, such as an on-site country club, a professional management company or a homeowners association.

Going forward, who will manage the perks that attracted you? The quality of those amenities will depend on their skills, priorities and budgets.

Local politics affect your fun and finances. The homeowners association within a 55-plus community can be extremely powerful, oftentimes controlling the community’s budget and rules. In other words, it can determine how much you pay in fees, the length of the grass on your putting green and the size of your beloved garden ornament.

All of those factors—fees, rules and budget priorities—can change. Tennis courts may get pushed out in favor of pickleball, for example. The association probably can ban your cigar smoke at whim. Even age restrictions aren’t always set in stone. Find out how much control you have over these decisions, or in choosing the team that will make them.

You need an exit plan. While it’s hard to predict when health will fail, most of us will need continuing help eventually. And if you live in an active adult community, you may have to sell to get it. Those underage caretakers may be reticent or even barred from moving into a restricted community to help.

What level of fitness is required for continuing residency? While the development’s marketing materials probably tout the convenience of nearby medical facilities, few are set up for people that cannot live independently.

©2019 Rate.com News
Distributed by Tribune Content Agency, LLC

The post Buyers Beware: Senior Living Comes With Risks appeared first on RISMedia.

Categories: Real Estate

Consumers Feeling Bullish on Home Buying, Selling

NAR Daily News Magazine - January 9, 2020 - 1:00am

Low mortgage rates and a belief that the economy is improving may be motivating people to make a move.

Categories: Real Estate

Islands Continue to Be Main Draw in Kitchen Design

NAR Daily News Magazine - January 9, 2020 - 1:00am

This central spot is getting lots of attention from home remodelers.

Categories: Real Estate

Consumers: Agents Are as Valuable as Therapists

NAR Daily News Magazine - January 9, 2020 - 1:00am

Buyers and sellers say their real estate pros serve them well during a transaction but abandon them after the deal closes.

Categories: Real Estate

Some Buyers Purchase a Second Home First

NAR Daily News Magazine - January 9, 2020 - 1:00am

First-timers priced out of the market where they live are investing in more affordable places elsewhere.

Categories: Real Estate

New Move Inc. CEO Announced

NAR Daily News Magazine - January 9, 2020 - 1:00am

David Doctorow, who will lead the realtor.com® operator, comes with high-level experience at major digital brands.

Categories: Real Estate

NAR’s 2020 Plan Defines REALTORS®’ Future

NAR Daily News Magazine - January 9, 2020 - 1:00am

After an evaluation and update, the association rings in the new year with a simplified mission and future-focused vision for members.

Categories: Real Estate

NAR Applauds Senate Confirmation of New SBA Chief

NAR Daily News Magazine - January 8, 2020 - 1:00am

Small Business Administrator Jovita Carranza "has earned the respect of America’s housing industry," says NAR President Vince Malta.

Categories: Real Estate

Why Blues, Greens Are Hot Choices for an Office

NAR Daily News Magazine - January 8, 2020 - 1:00am

The color of your office space could affect your productivity and even your mood.

 
Categories: Real Estate
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