Monthly Guide to Active Adult Community Living

June 2008

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Welcome Message

Welcome to our June issue of the Monthly Guide to Active Adult Community Living! It's been a while since I published my last newsletter. To make up for it, this issue also includes an embedded video tour to help our readers get a "feel" for the featured community. I hope you like it.

Now that we are almost at the halfway point of 2008, my second article will discuss some of facts and figures about the current real estate housing market and how it is affecting adult communities in NJ. I also wanted to tell our readers that I am very happy that I moved my real estate career to Ridge Realty. I am proud to be part of a team of dedicated real estate professionals specializing in 55+ Housing.

Don't forget to visit our 55Plus-Housing.com website regularly as new communities and listings are updated daily. Also, be sure to signup for our email newsletter (if you haven't already) so you never miss an issue.

Featured Community

Rolling Meadows at Wayside
Ocean Township, NJ

Rolling Meadows at Wayside is a active adult community located in the Wayside section of Ocean Township, NJ (Monmouth County). It is conveniently located near the Garden State Parkway entrance, shopping malls and is just a 10 minute drive to the beaches and Monmouth Park horse racing track.

Rolling Meadows at Wayside was established in 2002 and the final homes were built in 2007. This beautiful gated community features 328 single family homes with lots of natural open space areas.

Community Map:

Home Choices:
Rolling Meadows at Wayside features five base single family model homes. The models feature various upgrades and some have an expanded layout. These models vary in size from two bedroom units to large three bedrooms/3 bath homes with lofts. Many homes may include optional features like maintenance-free decks, hardwood floors, 2nd floor lofts, basements, enclosed sunrooms, Corian countertops, and much more. Click Here to find available homes for sale.

Community Amenities:
Rolling Meadows at Wayside includes many nice amenities. The large clubhouse has a very large banquet hall for events and parties. Inside the clubhouse features a fully equipped fitness center, lounge/library room, a large multi-purpose room and kitchen. Outdoor activities include swimming, horseshoes and putting green. There is also a large gazebo for relaxing after a nice scenic walk in the community.

About the Builder:
Continental Properties is an established builder of many adult communities in New Jersey. They have built over 45,000 homes in the last 50 years.

Municipal Information:
Ocean Township is located near the eastern shore of Monmouth County. This township covers approximately 11 sq. miles with a population a little over 26,000 (according to 2000 U.S. Census Data). Ocean Township is close to many shopping centers & mall, the beaches and major transportation routes. [top]

2008 Real Estate Market Conditions 

I am now into my third year of being a real estate professional and keeping stats on the 55+ housing real estate market. Unfortunately, I missed the "gold-rush" real estate years of bidding wars, offers higher than asking price and homes selling within days of being on the market. Today, it's not hard to get discourage when foreclosures are at an all time high (thanks to the sub-prime market) and the increasing prices of basic necessities (i.e. food and gas) that constantly remind us that we are in a recession.

The current real estate market is much more challenging for both buyers and sellers. Buyers may find it harder to get a mortgage due to the banks tightening up their lending practices. Sellers have to deal with an over saturated market and declining home sale values. Still, buying a home is a great investment that provides us shelter and a sense of security. The 55+ housing market has faired relatively well when compared to other housing market sectors.

As you can see from the chart to the right, home inventories continue to climb since homes aren't selling quickly.

New listings have leveled off which will start to help stabilize the glut of home inventory.

Price changes are still high which shows us that sellers are trying to react to current market conditions to make the sale.

Homes under contract remains consistent which is a good thing. Buyers are out there and will make offers on homes that are priced right.

The number of sold homes is still on a downward spiral which is not helping sellers. The economy and other factors are also putting additional pressures on the housing market. My opinion is that the housing market won't get much better until this time next year.

I still believe this is a good time for buyers to take advantage of some great housing opportunities. Mortgage rates are still very low for qualified buyers with good credit. Many townships in Monmouth and Ocean counties have recently gone through a property tax re-evaluation which in many cases has lowered property taxes in some of the newer adult communities. So don't hesitate to make an offer that nice 55+ home because I still see some bidding wars occur on a great home priced right.  [top]