If you could ask just one question at a 55+ community..... (foreclosures, mortgages)

[elizamary]

Originally Posted by Ellwood

A final thought: several builders who received approval to build 55+ communities are revisiting the zoning boards to open them to everyone as there has been a large decrease in sales and interest for 55+.

Another point to take into consideration is resale. You will be selling to a limited customer base.

Yep........I believe this~~

[TuborgP]

Originally Posted by Boompa

Some of my experiences with 55+

They whined and moaned whenever children used the pool

They snooped at your lawn and yard looking for violations

In one case a residents daughter and son in law were killed in an accident and the grandchildren were staying with their granparents. The HOA forced them to move out.

The "Republican Club" took over the HOA and tried to force out anyone who didn't follow them.

I will NEVER move to another 55+ Community

What the hey about the HOA?

[TuborgP]

Originally Posted by Ellwood

A final thought: several builders who received approval to build 55+ communities are revisiting the zoning boards to open them to everyone as there has been a large decrease in sales and interest for 55+.

Another point to take into consideration is resale. You will be selling to a limited customer base.

Amen, Amen and one more Amen. This is my major concern about Active 55. It is a major pyramid waiting to burn folks on the back in. Like most pyramids if you are in early and out early it works. Boomers are a bubble and following the bubble is a smaller pool of potential buyers. Also the average age in communities could be a lot older making them less attractive to the under 65 crowd. If builders are having problems finding buyers now what are the fundamentals to change that? If they are being over built now will a pick up in the economy rescue them? If people who prospered from the real estate bubble were selling high and buying active 55 what will be the those dynamics now that home equity has shrunk. Active 55 is a model with some real question marks about their financial sense.

[little eggplant]

Thanks much for everyone's input to my original question. Seems there are a lot of negative feelings swirling about 55+ in general. I, too, was surprised Kathy was not at Roesville anymore, although they are still on our vist list at the end of the month. Also, was surprised to see Heritage Creek (not an 55+ place) in Milton no longer maintains their website - their homes were very attractive, albeit pricey. Yes, the financials are a VERY important aspect of any community, perhaps more so these days of scarce money. We are going to visit with an open mind, grateful we do not have to make a decision for at least one year.

[elizamary]

I would just like to put things in perspective and be fair.

55+ communities have been around for decades. Mostly in florida...
30 years ago people were flocking to florida to live in a 55+ community at a good price.
The market leveled off and dropped in Florida after all the canes hit the other year.

IMHO.....there will always be 55+ communities but the sales will be up and down depending on the market.
I'm surprised at all the negative responses and thinking.......there must be someone out there that love this type of living beside DH and I.
Sure there are draw backs but that is anywhere.
Some communities are not doing well and others are doing fair. Another couple came through our community yesteday picking out their lot. Seems we are doing fair because the homes are not expensive but very nice.

This new age coming up is going to be more responisble financially. Credit card abuse and loans will be tapered.
Wanting lavished homes, keeping up with the jones will be a thing of the past. My opinion only.

Also...........right now..........mostly all communities are hurting. One of the biggest reason is "people can't sell their home"!! And even if they sell their home...the people that buy "their" home can't sell their home causing a domino effect.

[MPBsr]

Originally Posted by Ellwood

A final thought: several builders who received approval to build 55+ communities are revisiting the zoning boards to open them to everyone as there has been a large decrease in sales and interest for 55+.

Another point to take into consideration is resale. You will be selling to a limited customer base.

In most cases "your children" will be selling to a limited customer base.

[Charley]

Originally Posted by MPBsr

In most cases "your children" will be selling to a limited customer base.

My wife and I are 57 years old. My oldest child is 34. Maybe when we kick the bucket, she'll just move in!

[Boompa]

Originally Posted by Ellwood

A final thought: several builders who received approval to build 55+ communities are revisiting the zoning boards to open them to everyone as there has been a large decrease in sales and interest for 55+.

Another point to take into consideration is resale. You will be selling to a limited customer base.

I disagree, most 55+ have retained their value better than the surrounding communities. There are fewer forclosures in retirement communities so they aren't bringing down the market

[Summering]

An issue at the 55+ community is one my sis is dealing with as she is making her moving choices.
If something were to happen to her, her daughter couldn't take possession of the home she might own at a 55+. Her daughter being in her 40's wouldn't be at that "golden age limit"........
I understand in that case the home would have to be sold. Just one other thing to take into account.

[Charley]

Originally Posted by Summering

An issue at the 55+ community is one my sis is dealing with as she is making her moving choices.
If something were to happen to her, her daughter couldn't take possession of the home she might own at a 55+. Her daughter being in her 40's wouldn't be at that "golden age limit"........
I understand in that case the home would have to be sold. Just one other thing to take into account.

Federal law allows up to 20% of 55+ homes to be purchased and owned by those under 55.

http://www.hud.gov/offices/fheo/library/hopa95.pdf

This should make her feel a bit more at ease in case something were to happen.