Embittered homeowners looking for good news in the May 2012 home sales report were pleased to find that when compared to May 2011, sales were up 9.6%.
Matt Younger who is the executive director of Osprey Village, a retirement community located on Amelia Island, Fla., says the report is consistent with the experiences of many of the older adults who finance a move into his community through the sale of their home.
“We have noticed a significant increase in traffic this summer as compared to last year at this time,” Younger 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.
Younger 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 Osprey Village’s “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 of interest-free financing on the remaining 70% of the equity fee. Osprey Village does require homeowners participating in “Why Wait” to use a realtor associated with their community Transitions program. This realtor, working as one member of a comprehensive real estate team, assists the homeowner in properly pricing, marketing and showing their home.
Younger says Members have been able to consistently shorten the sales cycle on their homes as a result of using these consultative real estate services. He recommends that homeowners view their home from a buyer’s perspective during the staging process. He also encourages older homeowners to maintain their properties on a regular basis and to educate themselves about options such as “Why Wait” which allow them to take advantage of the benefits of moving to a retirement community while their home is on the market.
For more information about Osprey Village’s “Why Wait” or Transitions moving program, contact a Lifestyle Advisor at 904-277-8222.