Erickson Tribune

Brooksby

UPDATED: Thursday, October 12, 2006

Protecting Your Assets in a Turbulent Real Estate Market

Posted on Friday, September 01, 2006
 

Likely Your Largest Asset, Your Home May Also Be Your Biggest Risk

By Nicole Hospelhorn   
THE ERICKSON TRIBUNE

You’ve seen it in the news, and maybe even heard firsthand from friends and neighbors trying to sell their house. If you’re buying a home in this area, you’re probably dancing in the streets. But if you already own a home and are beginning to think of selling . . . you may not be smiling.

According to the Massachusetts Association of Realtors (MAR), the number of single family homes on the market has increased for 16 consecutive months in June 2006, and was 10 percent higher compared to the same month last year. A statement released from the MAR also states that the increased supply of single family homes for sale have resulted in longer times on the market— 111 days instead of 84 days in June 2005.

Change in Real Estate Climate
The change in the Boston area real estate market is being attributed to certain key factors. As explained in a recent Boston Globe article by Emily Shartin, “A buyer’s market is firmly in place in Massachusetts. The causes include: higher mortgage rates…only so-so economic growth…and a glut of supply.”

New Strategies to Sell Your House
“Home sellers are learning what any retailer, from Wal-Mart to the owner of the corner gas station already knows: Low prices are one of the surest ways to beat the competition,” reports Kimberly Blanton of The Boston Globe. With a record number of homes on the market, and prices dropping, Blanton reports that real estate agents are encouraging new pricing strategies so that sellers can still take advantage of a market that is cooling from previous years, but still remains active.

Pricing Is Key
Brooksby Village Retirement Counselor Marisa Tazzini meets with people each week who are hesitant to put their house on the market and move to Brooksby because of the recent reports of a real estate rut.


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But despite the gloomy reports on the local real estate market, she says, “When people decide to sell their house and move to Brooksby, the key thing we focus on with them is pricing their house right the first time. We find that the people who are pricing their houses appropriately can sell them faster than those who start with a high price and lower it every few weeks.”

Act Now to Protect Your Home’s Value
Now for the good news. There is a 100 percent guaranteed way to protect the equity in your home that you worked to hard to build over the many years you’ve lived there. It’s the 100% Refundable Entrance Deposit that has played such an important role in pursuading hundreds of your friends and neighbors to move to Brooksby.What is it and how does it work? It's a simple, yet innovative concept that can mean the difference between continuing to live in a house that may flucuate in value and moving to a community vibrant with interesting people, exciting activities, and unmatched amenities.

What you do first is sell your current house, and then use part of the equity from the sale to cover your 100% Refundable Entrance Deposit. Just think of it as a “deposit” on your new apartment home at Brooksby.

Win-Win For You
Your deposit covers the cost of your spacious apartment home, and allows you access to the three clubhouses, including five restaurants, creative arts studios, classrooms, the all-season swimming pool and spa, chapel and TV Sstudio. And here’s what makes your 100% Refundable Entrance Deposit so unique—should you ever leave the community, Brooksby will refund your entrance deposit to you or to your estate.

Bottom Line?
There’s no better way to ensure the value of your equity. And, if you’re on a fixed income, there’s an added benefit: making the move to Brooksby is the financially savvy approach to avoiding the increasing burden of rising property taxes and soaring energy costs!



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