Moving To A 55 and Older Community: Is It Right For You?

Moving To A 55 and Older Community: Is It Right For You?

Moving To A 55 and Older Community: Is It Right For You?mortgages.com

For a lot of people a 55 and older community can mean spending your retirement living with people your own age, being active, and exploring new hobbies right in your own neighborhood. It sounds a little like the social life of college without the studying. And who wouldn’t want that? What should you know before you buy?

Social club

One of the benefits of a 55 and older community is the social aspect. Not only is it easy to meet people your age, but most communities also have planned events ranging from golf to art. We always talk about why location matters in real estate. And this is no different. Think about what you want to spend your days doing? If you love skiing, Florida probably isn’t the best location for you.

Security

Most 55 and older communities are gated and have private security. Find out exactly what kind of security your community will offer. If this is going to be your second home, the extra security can bring big peace of mind when you’re away.

No one under 55 allowed

This one is a given. If you’re thinking about a 55 and older community, you probably consider this a pro. But it can quickly turn into a con. You might not realize how much you enjoyed the sound of kids playing in the street until you don’t hear it anymore. And if there’s a family emergency, it might mean that your adult kids or grandkids couldn’t live with you. There might also be restrictions on how long younger visitors can stay. And that might mean the end of Camp Grandma during the summer.

The old neighborhood

Don’t underestimate the connection you feel with your old neighborhood, especially if it’s where you raised your family. If that’s the case, it might be worth it to keep both homes for now and work your first home into your estate planning. That way it can stay in the family.

HOA

All those activities and amenities come a at a price, homeowners association fees. Like any home with a homeowners association, there might be strict rules about things like what color you paint your home, how many (and what type of) pets you can have, and what you can plant in your yard. That might be a fair tradeoff for you, but if you’re used to making home improvements on a whim, you might want to think twice.

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Why Do Home Buyers Wait For Spring?

Why Do Home Buyers Wait For Spring?

Search Mesquite NV. homes for sale at; Mesquite-realestate.com

Why Do Home Buyers Wait For Spring?

Why do they wait until the competition ramps up and all the other buyers are ready to buy? Why do buyers wait for the “hot” spring market with its price increases and multiple offers?

  • Some buyers delay because they are doing what is expected – “we’re always done it this way” thinking is common in real estate.
  • Others may need the first warm rays of sun and the fragrance of spring flowers for motivation.
  • There may be more listings later in the spring, as sellers react for the same two reasons above, but increased buyer competition may cancel out advantages.Indications are that this will be an active spring market with real estate price and mortgage rate increases which extend deep into 2017. Getting ahead of this momentum may bring benefits and real estate you can love.

    You’re got nothing to lose by shopping now and a lot to gain. Here are Five Smart-Buying Tips for Getting a Jump on Spring:

    Tip #1: Find a real estate professional who is has a lot of experience in the locations you’d consider and with the type of property (detached house or condominium) you want to own.

    Learn what you need to do to prepare to make an offer and what to look for in the properties you’ll view. You’ll also discover the listing price range to shop in and which are the best locations in your buying range. If you don’t start this strategic relationship first, you’ll miss out on many of the advantages of an early start.

    Tip #2: Build your professional team to be ready for offer time.

    Your real estate professional may have recommendations for mortgage brokers, home inspectors, real estate lawyers, and surveyors. Take three names for each and interview them to determine the fit and what they consider the extent of their professional responsibilities to you.

    • For example, concentrate on locating a mortgage broker who has the experience, contacts, and interest to help you finance your purchase. The questions you ask the real estate professional about price range, size of mortgage, and steps in the buying process should also be directed to the mortgage broker. The mortgage pre-approval letter, which may be essential at offer time, will only be truly useful when you’ve been professionally vetted and stamped as mortgage-worthy.

    #Tip 3: Stop Wasting Time and Concentrate on Real Estate.

    There’s a lot to learn and to think about when buying real estate, so your productivity matters. The US 2016 versionof Deloitte’s sixth annual Mobile Consumer Survey revealed more online time wasting than ever:

    • More than 40 percent of consumers check their phones within five minutes of waking – text messages (35%) and email (22%)
    • Each day is disrupted since we look at our phones approximately 47 times. Sleep is disrupted: more than 30% check their devices 5 minutes before sleep and about 50 percent in the middle of the night.
    • Every 60 seconds on Facebook, 510,000 comments are posted, 293,000 statuses are updated, and 136,000 photos are uploaded. The average Facebook visit is 20 minutes; Facebook reports visitors spend more than 50 minutes a day using Facebook, Instagram and Messenger. (Source: Zephoria)
    • Millennials (25 to 34-year-olds) demonstrated higher levels of mobile device interest and use than the phone-hooked younger demographic.
    • Postpone binge watching the latest hyped series until after you buy your dream home.

    Tip #4: Sell Yourself on Success

    According to sales inspiration Dale Carnegie, author of How to Win Friends and Influence People, “The only way to influence someone is to find out what they want, and show them how to get it.” To achieve success, clarify, with the help of professionals, exactly what you want and need from a real estate purchase. Then decide to get it. The professional team you select will provide the know-how and will help you refine your dreams into an achievable goal for the location and price range involved. Do your homework, so you understand what they show you.

    Tip #5: Motivate Yourself During This “Buy-athon”

    What motivates you to want to own real estate? Postpone as many non-real-estate distractions as possible. Clarify what will sustain you through the often-stressful buying process. Use slogans, affirmations, or whatever it takes to persist. You may make offers and lose out on one or more properties before you find yours. Persist using self-motivation – that’s your job. No one else can motivate you. No one cares as much about the outcome as you do.

    What are you waiting for? Get the jump on spring!

    Final Smart-Buying Tip:Don’t get in the way of the professionals finding out what you want and helping you get it.

Nevada Real Estate

Nevada Real Estate laws and practices differ from other states. I will help you navigate the complexities and pitfalls of property purchases. I understand the market in the area you desire and will be your advocate throughout the process. Isn’t it nice to know that you have someone on your side looking out for your interests? I trust that you will find your experience pleasant and are confident that once you use me as your Agent you will insist in doing so in all of your future Real Estate purchases.

 

Vacation and Second Home Properties

Whether you are considering a vacation or second home for a weekend escape or a family legacy property let your me guide you through the decision making process as well as the transaction assuring a smooth and enjoyable experience.

Many of these properties are located in resort areas not in the same State or region as your primary home and are subject to local restrictions, taxes and regulations. Dealing with homeowners associations, management companies, local lending, Insurance, covenants, building regulations, Title issues, well permits, weather conditions that might affect value, transportation and technology options can all be a challenge particularly if you are trying to deal with these issues from a distance. Often times I can show you how you can turn these possible pitfalls into advantages with their local knowledge and expertise.

I want you to enjoy your vacation or second home property bringing you and your family great memories for years to come. By using me as a resource before, during and after the transaction with their attention to detail and guidance will allow you this opportunity.

Condominiums

Many second home owners find that condominiums are an attractive property type for a variety of reasons. They allow more time for enjoyment without a lot of worries like maintenance and daily tasks. They can also offer amenities that are not easily available to single family home owners like swimming pools, shuttle services, game rooms, etc. In many areas the possibility also exists that your unit can be rented out to tourists on a nightly or weekly basis helping offset some of your ownership costs. Naturally there is a fee for all of these services but since the costs are shared amongst all of the owners may make it more manageable for the individual owners.

All complexes should have a Home Owners Association (HOA) and in many states it is required. In most cases the HOA contracts with a management company to handle the day to day items needing attention as well as provide a reservation service to manage the rentals. In most cases the HOA meets annually to discuss items pertaining to the property and the management of those items. It is important prior to ownership to understand how the HOA functions and what their contractual relationship is with the management company. Review the HOA financials, Rules and Regulations and, at least, two years of HOA and Board of Directors meeting minutes. Often these will not be released to you until you have a unit under contract. Meet with the President of the HOA as well as the property manager to better understand if this is a complex that appeals to you. Remember also that once you are an owner you are part of the HOA and part of the decision making process.

HOA dues can cover a variety of items and it is important to understand what those items are. Dues can cover trash service, water, common amenities such as hot tubs, television, exterior building insurance, lawn and driveway maintenance, etc. HOA dues may be collected on a monthly, quarterly or yearly basis.

Most management companies provide the HOA a ten or twenty year forecast of what maintenance issues might be upcoming, like replacement of roofs or sidewalks and the approximate costs involved. This is how the HOA can determine the HOA fees to the individual property owners (usually allocated on a sq. ft. basis). If the property is in a short term rental location they will most likely manage your unit and take care of guest check in, cleaning and maintenance. Their fee is a percentage of the rental income. Find out what this percentage is and what they provide for this fee.

In situations where short term rental income of your unit is possible the management company may inspect and rate your unit annually. The management company’s desire is to attract as many return guests as possible so they generally rent the nicest units first meaning more income for the owner (and perhaps more wear and tear). In many instances the management company has someone on staff that can guide you through the cost benefit or upgrading your unit. Find out what your unit is rated and if there is a benefit to upgrading the unit. Also get rental income figures for like units understanding that individual units may vary due to location within the project and owner usage.

Single Family Homes

Whether your desire is to own a secluded cabin in the woods or a home on a golf course, beach or ski slope determining your needs and how you plan on using this home are essential to your selection process. Will you be using this property seasonally or just on weekends, as a gathering place for friends and relatives for holidays or simply an escape from the stresses of everyday living?  Emotions play a large part in your property selection, as it should. However don’t allow your emotions to be the overriding decider.

There are many factors that need to be considered to insure that you will be able to enjoy your escape property. Most important on this list is what will happen to the home when you are not there? What attention to the home might be needed in your absence?

The benefit of single family home ownership is that you have more flexibility on individual choices. The challenge is more daily attention may be required. There are management companies who specialize in caretaking of single family homes and many offer a menu of options. Understanding the costs and paring down what you need or desire will help you determine what the costs might be. Also understanding local zoning regulations and common interest community’s rules and regulations might determine if this home is appropriate for your desired use.

Other determining factors might be property taxes (some states charge higher property taxes on out of state owners), utility costs, transportation costs and options. Local issues such as snow load or flooding, pest control or mold are also vital pieces of information. Once under contract an inspection should be conducted and in many areas of the United States radon can be a factor. This is relatively simple and inexpensive to mitigate and often something the Seller will pay for.

Land

Perhaps instead of purchasing a pre existing condominium or single family home your desire is to build your dream home. One might think that land would be fairly straight forward to purchase. However there are many things to think about particularly as you move forward to building that special home. Again, understand the covenants of the neighborhood and what you can and cannot do on your property. Are there Square footage minimums or maximums? Perhaps there are architectural guidelines or an architectural committee that must approve your design and finish.

Be sure and negotiate the seller providing you with a survey. During your inspection period it might be a wise idea to have an engineer conduct a soils test to see how easy or difficult it will be to build on the site. Is the municipal water and sewer? If so are there tap fees to hook on. If municipal water and sewer are not available is it possible to dig for a well and at what cost? What type of water is generally found in the area? Check to see if the local regulations allow for a leach field or merely a sewer vault and determine what the cost is to pump out the vault. What is your source of heat? Check to see if natural gas is available or if you need to go with an individual propane tank. Understand the plusses and minuses of owning or leasing the tank.

Interview a local architect or two who can give you an approximation on a dollar per square foot basis on building in the area. Check with the City or County building department to see what the set-backs are and if there are any governmental regulations that you should be aware of.

 

As you can see there are a myriad of issues that need attention and direction to insure that your choice of product type will bring you and your family the enjoyment of ownership and usage that you are seeking in a second home or vacation property. Particularly if you are attempting to do much of this from afar the task can be daunting. Remember that you are not alone in this process. I’m here to help you navigate through the issues and process until your purchase comes to fruition. In most cases I will continue to be a source of information and advice long after your purchase. Isn’t it assuring to know that you have a trusted advocate in your corner and on your side?

Housing Considerations For Retirement Living

When the topic of Retirement Living comes up there are a number of special considerations that are usually included in the conversation. This article will discuss some of the absolutes in any search for property for a retired homeowner.

Low maintenance.

Usually one of the reasons for a move is to avoid some of the maintenance obligations that come with a larger traditional home. A good home for the retirement lifestyle will either be low maintenance or there will be a dedicated maintenance crew to take care of the maintenance. Often the best home with combine both. As an example a condominium normally will have a crew to take care of the exterior and sometimes this same arrangement would cover interior maintenance items like plumbing, heating, and air-conditioning

Easy on the knees

Even if there are no mobility impairments now, a good home for retirement will take into account that there will likely be mobility impairments in the future. That is why the vast majority of retirement communities have all the primary living spaces on the main floor. If more space is needed for things like visitor rooms they often go on upper or lower floors. And don’t forget the entryway to the home. If is always best if there is space for a ramp from the garage or a convenient exterior door. Even if you don’t need it, it is likely that some of your visitors may.

Convenient to activities

Another important aspect is convenience to various activities. Those activities are very different for different people but they often center around golf, fishing, church, or family. Sometimes the retirement community is built around these activities, sometime they are nearby. Consider how those retirement hours will be spent before your purchase.

Additionally if you want to increase your chances of having visitors consider moving to an area close to national attractions. This is one reason there are so many retirement communities near the Disney theme parks.

Easy to travel

One aspect that sometimes gets neglected when choosing a retirement community is access to easy travel. You don’t want to be isolated so consider how you will travel and how friends and family might travel to you.

Secure

One final aspect to consider is security. Ideally you want the ability to close your door and travel without worrying about having your home burglarized. Gated communities often help owners feel more secure. Having friends in the development who can check on your home is another option to consider.

 

 

Sun City Mesquite Information

Sun City Mesquite Information.  

 

This amazing community is built by Pulte in Mesquite, Nevada. This master plan is approximately 2,014 acres in size. Sun City Mesquite is being built within this master plan on 812 acres. Also included will be 167 acres of conventional housing without age qualification. An 18 hole Gary Panks designed golf course is a central feature. Upon completion, this community is projected to have 4,600 homes, including 3,600 homes in Sun City Mesquite. The grand opening for the public was June 16th, 2007.  Amenities include an 18-hole putting course, tennis, pickle ball and bocce courts, 30,000 SF clubhouse has billiards room, state-of-the-art gym, aerobics studio, indoor pool & spa, indoor walking track, clubs, classes, and over 100 activities. Conestoga Golf Club provides a scenic backdrop to the outdoor pool & two spas. Sun City residents receive discounts on meals at Conestoga Golf Club’s 1880 Grill.

Below is a link of all the currently listed properties in Sun City Mesquite. This information is updated every 24 hours.

 When this project opened what it offered had two potential advantages over similar developments in other areas, price and the ability to have a Pulte/Del Webb community only in more of a small town environment.  The small town advantage is still there for those that prefer it. The price advantage is lower then similar homes in the Las Vegas area. One additional advantage now is that Sun City Mesquite is now the only age restricted community in the area selling new homes that offers comparable home sizes and options that are on the scale of the larger age restricted communities in other Del Webb developments. I drove the community with my GPS and found that the elevations of the current construction at this community range from 1,750 ft. to 1,850 ft. above sea level.

Note that several new floor plans have been added with also several discontinued. The new floor plans are a drastic departure from what Pulte/Dell Webb has offered in the past. Significant structural options have not been a part of the Pulte/Del Webb philosophy. Now there are an incredible number of customizations available.

Current selling prices for both new and resale, over the last year run between $125 and $190 per sq. ft. That starts somewhat lower than the median selling prices per sq. ft. for the Sun City communities in the greater Las Vegas area.

Sun City Mesquite has 22 single story home designs ranging from 1,241 to 3,115 sq. ft. Base prices range for the current models, at the time of this writing, May 7, 2017 are between $185,990 and $332,990. The sizes of these current models range from 1,241 to 2,514 sq. ft. I know this development well and have represented many buyers here. It is a beautiful community with great mountain views and wonderful topography. Many lots will be at elevation, looking down into the community as well as out into the valley Contact me at the email or phone number below with any questions you may have.

Sun City Mesquite Photos

Click on thumbnail picture to view larger image.

  • search Sun City homes for sale
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This is a newer and very interesting option to other age restricted communities, Del Webb and otherwise, presently available in the Clark County, Nevada area. It may also appeal to prospective buyers that may otherwise pick another location in the southwest. The travel distance from this community to the strip/airport area in Las Vegas to be around hour & 15 Minutes.  Mesquite is also around 30 minutes from St George Utah, a larger and more developed community with shopping and other services that Mesquite lacks at this time. Mesquite itself is a nice clean city with mostly newer construction. In the mid 1980’s Mesquite was a relatively quiet farming community with a few businesses catering to the travelers along I-15. The population at that time was around 800 people. The population has increased to over 19,000 with most of that increase coming within the last 15 years. The weather in Mesquite is similar to Las Vegas with summer and winter high temperatures about the same. Night time lows are somewhat cooler.

There is quite a bit of development in the area of Anthem, Mesquite (master plan being called Anthem). A new hospital is within a mile of the community.

If you have any questions about these projects let me know. I will update these pages when additional information becomes available. I can also put you on my mailing list to receive updated information per your request. I hope you have enjoyed this information and will remember me if you would like Realtor representation to purchase and/or sell a home. Thank you.

Please note that I am an independent Realtor that can represent you in your purchase at Sun City Mesquite, at no cost to you. I do not represent the builder or are otherwise affiliated with the builder, Del Webb Pulte.

You can view all the new models and resale homes at Search Sun City Mesquite.

Mesquite Real Estate

Not Your Father’s Retirement: Three Ideas That Are Reinvigorating The Next Stage

Not Your Father’s Retirement: Three Ideas That Are Reinvigorating The Next Stage

Not Your Father's Retirement: Three Ideas That Are Reinvigorating The Next Stage

That anemic, antiseptic-smelling place where you used to visit Grandpa in his final years? That’s a thing of the past. Same for the idea of the typical “retirement community,” which was reimagined as the more evocative “active adult” many years ago, thanks to masterplanned developers like Del Webb and its Sun City brand. And now it’s going through another reincarnation, away from the typical and toward a more tailored, more exciting, more personally rewarding, and sometimes more exotic experience. One thing is for sure. This isn’t your father’s retirement.

Wastin’ away…

Excuse the ironic lyrical intro, but there’s just something about the idea of Jimmy Buffet, singer of “Margaritaville” and purveyor of perhaps the ultimate in relaxed, retirement-age “livin’ it up,” putting his name on a retirement community. Which is what makes Latitude Margaritaville so enticing to a new group of retirees looking for more than water aerobics.

“If there’s one person in the world who knows how to kick back and relax, it’s Mr. Margaritaville himself,” said House Beautiful. “Maybe that’s why Jimmy Buffett partnered with Minto Communities to create a community for people 55-and-older in Daytona Beach, which promises to reflect the lifestyle embraced in Buffett’s songs.”

The community is planned to have 6,900 homes designed in Old Florida and Key West architectural styles, priced from the low $200,000s, and located within – not surprisingly – a “total tropical vibe. Of course there’s a pool with cabanas instead of a park or statue like most town squares,” they said. “Music, food and beverages will be big part of the community, along with relaxation thanks to an onsite fitness center, indoor lap pool and spa and the outdoor resort-style pool.” And, you can expect Jimmy himself to show up for concerts.

Homes are expected to be finished in 2018, at which time a second location of the singer’s retirement communities, Latitude Margaritaville Hilton Head in South Carolina, will also be underway. This newly announced location will include more than 3,000 homes in a classic coastal architectural style from the low $200,000s, with amenities including “a private, resident only Town Center, resort-style pool, fitness center, social hall, game and hobby rooms, arts and learning programs, indoor and outdoor dining with signature food and beverage concepts, pickleball, tennis courts and more,” said Forbes. So how is the idea connecting with retirees? “There were over 10,000 registrants in the first two weeks of offers for the Daytona community and there are more than 70,000 at this point,” said Forbes.

Coloring outside the lines

If an endless vacation vibe isn’t your thing, perhaps being part of an artist’s colony is. That’s the idea behind the NoHo Senior Arts Colony, a new community of one- and two-bedroom luxury apartments for those 62 and up that offers a “new way to enjoy your next chapter,” they said. In the middle of the vibrant NOHO Arts District in Los Angeles, this retirement option offers “more than just the typical pool and fitness center, with “unique features including a visual arts studio, digital arts room, stadium-style performing arts theater — The Road Theatre Company’s second home — and complimentary arts and wellness programs offered by EngAGE®.”

Senior Living notes that the “posh” NoHo Senior Arts Colony is “mostly Hollywood writers and actors, and anyone into the artsy business” and that the theater is “open to be used by retirement community residents whenever there are no shows scheduled.”

Tiny Homes

One of the fastest-growing retirement trends today is tiny home living. This gives retirees the freedom of their own space in a smaller footprint with less maintenance and the camaraderie of others in a village environment, if they so choose, or privacy if they wish to be located on their own piece of land. Depending on zoning, tiny homes can be placed in an existing back yard – a choice many retirees are making so they can have their own space while being close to family.

“The benefits of tiny homes are obvious,” says George Chmael, the CEO of Council Fire, an Annapolis, Maryland-based consultancy that advises nonprofits, corporations, governments and communities on sustainable building practices, on AARP. “There’s reduced maintenance, a reduced financial burden and added movability and mobility for a change of circumstances.” For seniors, that means: less home maintenance work, lower expenses, and “the flexibility to adapt to whatever the future brings.”

The popularity of this retirement option has given way to a new term: the “granny pod.” The self-contained, 12-foot x 24-foot units, like those being sold as MedCottage, are being promoted as a potential option not just for retirees looking for an inexpensive option that allows them to be within arm’s reach of loved ones, but also as “the solution to nursing homes,” said David Wolfe. “These ‘Granny Pods’ are specially built with the safety of a senior in mind. They include a small kitchen, bedroom, and bathroom all designed to safely house a senior. The bathrooms are handicap accessible with railing and safety features built in.”

Additional safety features include webcams so family and caretakers can monitor them, padded floors to protect against falls, and high-tech “robotic features that can monitor vital signs. In addition, they can filter the air for contaminants while sending alerts reminding when to take supplements, superfoods, and superherbs.”

 

WRITTEN BY JAYMI NACIRIPOSTED

DECORATING FOR FALL

DECORATING FOR FALL: THE CHANGES YOU WANT TO MAKE NOW

Fall is here, and if you can’t wait to break out your sweaters, boots, and scarves…well, neither can we. When it comes to decorating, there are numerous quick fixes you can do to bring some fall flavor into your home – without turning your entire house into a pumpkin patch. But if that’s your thing, hey, go for it. Pumpkins for everyone!

If you love fall décor and autumn colors as much as we do, you might just want to keep your fall decor all year long! Get some inspiration below.

Hang a wreath

Not only is it welcoming, but it’s also a great opportunity to do a family craft if you don’t want one that’s store bought. House Beautiful has some great wreath ideas here.

Change your pillows

A pillow swap is the easiest change you can make from season to season, and one that takes mere seconds for an updated look. This Sarah Richardson-designed living room blends a more traditional autumn color in the pumpkin-hued pillow with some unexpected choices like the pink floral and burgundy velvet for a distinctive look that can take you all through the year.


HGTV
It might not be cold weather time yet, but bringing in some more substantial textures will get you feeling cozy. Start with a ruddy throw draped over the couch, and another in the master bedroom. “Getting out of bed is already a struggle, but a plush blanket and matching pillows will make you want to hit the snooze button just one more time,” said House Beautiful.


House Beautiful
Create a centerpiece

A bunch of mini pumpkins, pinecones, or nuts in the shell piled into a hurricane or under a glass cloche make for a festive, elegant presentation, even if you have no plans for company. If you’re planning a party during the fall, check out these centerpiece ideas from Elle Décor.


Linda Holt Interiors
Address the windows

The sheer, gauzy, and/or lightweight curtains that filtered the light so beautifully throughout the spring and summer might need to take a hiatus until next year’ warm-weather seasons. Heavier fabrics look great in the fall and winter, and can also help insulate the house against harsh conditions.

Warm up your tootsies

At the first sign of cooler weather, pack away your bath mats in favor of something luxe and cozy. A fuzzy or furry mat will keep your feet warm and bring in a touch of elegance.


Pinterest
Redo your mantle

Box up your beach-themed vignette and bring on the leaves and pinecones. Is it a tad traditional to showcase autumn’s bounty of nature? Sure. But that does little to diminish its charm. Huffington Post has 26 fall mantle ideas here.

Deck out your front porch

Pumpkins and decorative gourds are a given for the front of the house. We buy as many as will fit in the car! But fall is also a great time to take a look at the exterior of your home and see where you might be able to freshen it up. Some turquoise paint on your front door should do the trick!


HGTV

Written by Jaymi Naciri

IS IT WISE TO WAIT UNTIL AFTER THE ELECTION TO BUY OR SELL?

IS IT WISE TO WAIT UNTIL AFTER THE ELECTION TO BUY OR SELL?

The 2016 election season has been one of the most divisive presidential races in this country’s history and unfortunately, that unrest has been something of a wet blanket on the housing market nationally. While many areas in the nation have enjoyed a boom market, the sense of unease and nervousness has convinced many Americans to wait before buying or selling a home. This is not a new scenario for our country, even in years with less chaos and uncertainty, Realtor associations nationwide have noted that consumers tend to be more cautious during an election year.

 

The question is: Should prospective sellers and buyers hit the pause button during an election year? A recent study showed that housing prices tend to drop slightly, approximately 1.5 percent,

during an election year. But even if that is the case, many real estate experts agree that consumers shouldn’t feel the need hunker down until after the show is over and a new president is chosen. The fact is that real estate values locally and nationally are determined by only one factor: Supply and Demand.

 

The great Warren Buffet said “Be fearful when others are greedy and greedy when others are fearful”. Translated for the general public, that means that we should do the opposite of what others are doing.

When the media is predicting gloom and doom, many buyers and sellers will make the decision to sit on the sidelines. What does that mean for sellers? Often it means lower housing inventory which equals less a smaller pool of buyers and possible multiple offer situations. For buyers it can add up to less competition and the opportunity to find a bargain. Added to that the fact that mortgage rates are still at historic lows, Now is definitely the right time to get the most bang for your buck.

 

Written by Kelly Taylor

 

Is It Wise To Wait Until After the Election to Buy Or Sell?