Upturn in real estate market benefitting seniors

As Denver-area home prices increase and the number of days homes sit on the market decrease, the real estate turnaround is benefitting a particular demographic: senior citizens. Another benefactor is retirement living communities, whose prospective residents often need to sell their homes before they make their next move.

“Most of our future neighbors are bullish about the local real estate market and are confident that their home will sell for a good price. They recognize this is a good time to sell,” said Sarah Pfannenstiel, director of sales and marketing for the Clermont Park Retirement Community in Denver.

Clermont Park, which is owned and operated by Denver-based Christian Living Communities (CLC), is in the process of completing construction on 74 new residential apartment homes, called The Willows. These state-of-the-art apartments feature eight different floor plans ranging from one bedroom/one bath to 1,300 square-foot two bedroom/two baths with a den.

With a scheduled move-in date of March 2013, Jo Bausch-Hammergren, a future Willows resident sold her Hilltop home after just six days. “Although I wont be moving into Clermont Park until March, I wanted to put my home on the market sooner rather than later in case it took time to sell. I was completely amazed when my house sold in six days”, said Bausch-Hammergren.

“Its extremely hard to find inventory right now, there are 40% less listings now then around this time last year, said Becky Bausch,” Managing Broker for Vision Real Estate. With more than 25 years experience in the Denver real estate market, Becky Bausch had the dual role of being both Jo Bausch Hammergrens realtor and daughter. Because of her unique perspective, Becky Bauschs primary piece of advice to seniors selling their home is to give yourself enough time to prepare for you move.

“Its daunting enough for any of us to move, but seniors are more likely to have a lifetime of accumulated possessions. Cleaning out the house, basement and garage is not a weekend project,” said Bausch.

According to Bausch, even if youre not nostalgic, its very time consuming to go through everything you own.

Former kindergarten teacher Mary Johnson, who also will be moving to Clermont Park in March 2013, has a simple solution for seniors who are moving. “Open the box, enjoy the memory, offer it to your child or other family members and if they dont want it, give it away.” Johnson closed on her Highlands Ranch townhouse in February 2012 after being on the market for less than 10 days.

The 74 new residential apartment homes at Clermont Park are part of a $66.5 million community expansion and makeover that included updating existing residential living apartment homes, building 15 new assisted living and 17 memory support apartments, and adding a Town Center and a 63-suite skilled nursing community called The Suites at Clermont Park.

“Although many of the new apartments are reserved, we still have great floor plans at construction-phase pricing to choose,” said Pfannenstiel.

“Not only are these apartments beautifully appointed, they feature a tablet-based communications platform called Touchtown Resident Apps. This allows our residents to send and receive messages, check on and register for community events and services, access the full list of social activities and entertainment options, and even collect and store health information all from the comfort of their home using their tablet,” added Pfannenstiel.

Via YourHub

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