Monthly Guide to Active Adult Community Living

January 2007

Welcome Message

Welcome to the inaugural issue of the Monthly Guide to Active Adult Community Living! As we start the New Year, we are excited to make this publication another great feature of 55Plus-Housing.com. Each issue will highlight a different adult community in New Jersey. Here you will also find other interesting articles and information for our 55+ readers.

Congratulations to Tony G. for winning a copy of the 2007 Entertainment Book just for subscribing to this monthly newsletter. Be sure to signup for our email newsletter (if you haven't already) so you never miss an issue and be entered for a drawing to win another copy of the Entertainment Book.

We hope you enjoy this issue and welcome all comments to help improve it.

Featured Community

Heritage Point Active Adult Community Entrance

Heritage Point - Barnegat, NJ

Not all active adult communities are built the same. Heritage Point is located in Barnegat Township, NJ and is a newer community, established in 2003. This fine community, when completed, will consist of just over 900 single-family homes. There are approximately 560 homes built as of this writing plus all the amenities (including 2 clubhouses). The development is divided into two separate sections by West Bay Avenue. The southern section is now completely built out.

Home Choices:
This community has many different models to choose from and each model has several exterior options and colors to help provide an individual uniqueness to every home. Some of the models are completely sold out and are only available as a resale. Additionally, four new larger models were introduced in 2006, the Chatham, Chatham Grande, Montauk and Montauk Grande. Several of the models have an optional 2nd floor loft area and all models can be built with an optional basement. Many of the community homes include options like hardwood floors, fireplaces, large Jacuzzi tubs, gourmet kitchens, maintenance free decks and more! Click Here to find available homes for sale.


Community Home Models

The Hatteras	The Avalon	The Nantucket
The Hatteras model features a well thought out 2,100+ sq.ft. floorplan. Standard features include 2 bedrooms, study, turned garage and more.	The 1,800+ sq.ft. Avalon model features 2 bedrooms, a den, formal dining & living rooms. Optional features include a walk-out courtyard w/French doors & patio.	The Nantucket model features a 1,750 sq. ft. layout with a covered porch & patio, 2 bedrooms and large Living Room. Optional bay window and more.

The Newport	The Sanibel	The Cape May
The Newport model features a 1,700 sq.ft. standard layout. Options available include 2nd floor loft and 3rd bedroom & bath, sunroom, fireplace and more.	The 2,300 sq.ft. Sanibel model features a standard 2nd floor loft w/Bedroom and full bath. This is a 2 bedroom, 2-1/2 bath home w/optional patio.	The Cape May is a 2,045 sq.ft. model w/std. 2 bedrooms, 2-1/2 baths. Optional 2nd floor loft includes a 3rd bedroom and full bath. Optional sunroom & deck.

The Brielle	The Barnegat	The Chatham
The Brielle is a popular 1850 sq.ft. model featuring an open layout and optional screened in porch, patio and Jacuzzi corner tub in master bath.	The Barnegat model features a standard 1,320 sq.ft. layout and is the most economical of all the models. Optional family room, screened porch & patio.	The Chatham is one of the larger models at 2,245 sq.ft. Both bedrooms have their own attached full bathroom. Also includes hobby room & study. Optional Patio.

The Chatham Grande	The Montauk	The Montauk Grande
The Chatham Grande Model is similar in layout to the Chatham Model with a 2nd floor loft & 3rd Bedroom & full bathroom which makes this approx. 2620 sq.ft.	The Montauk Model features 2 bedrooms, 2-1/2 baths, large kitchen, study, hobby room, veranda & more at approx. 2,480 sq.ft. Optional Patio.	The Montauk Grande is the largest model with similar 1st floor layout at the Montauk model with a second floor loft, 3rd bedroom, bathroom and game room.

Community Amenities:
You will not get bored living in this community! Heritage Point is a very active community with many events like bowling leagues, poker & bingo nights, trips to Atlantic City, a newsletter committee, holiday parties and so much more. Heritage Point is one of the few communities that features 2 clubhouses.

The Breakers Spa clubhouse is located in the southern section of the community and features an indoor Olympic-size swimming pool, fitness center, sauna, billiards room, horseshoe pits, tennis courts, golf putting greens, bocce courts and more! The Point Resort clubhouse located in the northern section of the community features an outdoor pool, ballroom, arts & craft room, card room, kitchen & technology center.

About the Builder:
Heritage Point is just one of many fine communities built by Mignatti Companies. This builder develops primarily in the Northeast part of the Country. Mignatti is a fourth generation family owned business established in the early 1900's. Most of their more recent efforts have been directed towards building active adult communities.

Municipal Information:
Barnegat Township is a shore community in Ocean County covering approximately 40 sq. miles with a population of just over 20,000 (according to 2005 U.S. Census Data). Barnegat Township borders the Barnegat Bay to the east and is just a quick drive to Long Beach Island, a popular summer vacation spot known for its miles of beautiful beaches and the Barnegat Lighthouse. Heritage Point is just one of several large adult communities in the Township. [top]

2006 Housing Market Stats

The chart above shows the comparison of the number of adult community homes sold in each month vs. new listings.
Data was compiled from the Monmouth/Ocean MLS. Accuracy intended but not guaranteed.

The year 2006 for the real estate market has not been as good as it was in prior years. This trend has also affected the adult community housing market on both ends, buyers and sellers. Homes are now typically on the market much longer than before and the increase of new listings is only adding to a seller's headache. Sales of homes have remained steady mostly due to responsive sellers making price adjustments (these numbers are close to matching or exceeding the number of new listings). The real estate market is cyclical so it is normal for the market to be slow during the winter holiday season and more active during the summer months.

Even in a buyers' market, most still need to sell their existing home to buy into an adult community. This has created a shortage of buyers able to act and purchase. One good note; sellers are now more open to accepting offers with a home sale contingency. This will give buyers a little more time to sell their home but it is no guarantee that they can hold onto the deal.

New construction has also felt the squeeze. Builders are now giving more incentives and price cuts to help move inventory. Many builders are building more spec homes and soliciting the help of outside brokers. This is also putting more pricing pressure on the re-sales. Some builders slow to react are now paying the price. Homebuilder, Kara Homes filed for bankruptcy protection in 2006. This has put a serious burden on many if its' communities and homeowners.

Still, it is not all gloom and doom. Many real estate experts feel that 2007 will see an upturn in the housing market. It may not be as strong as it was five years ago but any positive trend is better than a negative. Even our 55+ Housing website is starting out the new year strong. We have had several people contact us who are serious buyers. We look forward to a great year and hope to help you with your real estate needs. Please Contact Us to see how we can help you! [top]