With Home Sales Improving, The Lakes at Litchfield Offers Solution for Seniors

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Embittered homeowners looking for good news in the recent home sales report were pleased to find that, when compared to last year at this time, sales were up 9.6%. Jacque Richardson who is the executive director of The Lakes at Litchfield, a retirement community located on Pawleys Island, S.C., 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 summer as compared to last year at this time

Embittered homeowners looking for good news in the recent home sales report were pleased to find that, when compared to last year at this time, sales were up 9.6%.

Jacque Richardson who is the executive director of The Lakes at Litchfield, a retirement community located on Pawleys Island, S.C., 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 summer as compared to last year at this time,” Richardson 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.

Richardson 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 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, working as one member of a comprehensive real estate team, assists the homeowner in properly pricing, marketing and showing their home.

Richardson says members have been able to consistently shorten the sales cycle on their homes as a result of using these consultative real estate services. She recommends that homeowners view their home from a buyer’s perspective during the staging process. She 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 sells.

For more information about The Lakes at Litchfield “Why Wait” or Transitions moving program, contact a Lifestyle Advisor at 843-235-9393.

About The Lakes at Litchfield
The Lakes at Litchfield is an all-inclusive, continuing care retirement community (CCRC) on Pawleys Island, S.C. The community’s care-free lifestyle helps members live longer, healthier and happier lives by offering an array of amenities including maintenance-free living, daily fine dining, weekly housekeeping, a nationally recognized wellness program and continuing-care health services. Members can choose from a variety of floor plans including single-family cottage homes and condominium-style villas. Assisted-living, memory-care and skilled-nursing rooms are also available for those who need to make a transition from independent living. More information about The Lakes at Litchfield is located at http://www.Lakes-Litchfield.com.

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Katie Huffstetler
Senior Living Communities
704.815.7333
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