Monarch Landing	UPDATED: Friday, October 13, 2006
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Uncertain Forecast for Chicago Land Homeowners

Posted on Friday, September 15, 2006

Why Many Are Taking Their Financial Futures Into Their Own Hands

By Regina Harris
THE ERICKSON TRIBUNE

America’s once strong housing market has split into two distinct markets, the Associated Press (AP) reports. Previously hot markets, such as the Chicago area, are seeing a steady cool-down, while formerly weak markets, such as Pittsburgh, are gaining strength.

While great for Pittsburghers, this latest observation on the softening real estate market is yet more troubling news for Chicagoland homeowners who have already experienced slipping house values and slowing sales.

Rather than playing a waiting game with the market that could stretch on for years, more and more Chicagoland residents are moving to Monarch Landing to start enjoying financial peace of mind now.

Better Value, Greater Control
“The 100% Refundable Entrance Deposit is very important,” says Ruth Unik. “If you change your mind or decide to move somewhere else, you can because your deposit is 100% refundable.”

Naperville residents since 1960, Ruth and husband John investigated the possibility of moving to a condo before deciding that Monarch Landing provided both a better value and a more certain financial future.

“At Monarch Landing, we have control of our principal, which is important,” says John. “It’s really a secure feeling,” Ruth adds.

Sellers Still Seeing Strong Returns
Security is one thing lacking in the current real estate market. At this time in 2005, house sales nationwide were at a record high, according to the National Association of Realtors (NAR). House values set unprecedented records for five years straight as a result of a booming economy and the lowest mortgage rates in 40 years.

However, the real estate boom seems to have run its course. Interest rates have been soaring ever higher this year as the Federal Reserve tightens credit conditions, the AP reports.

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While the future of the real estate market may look bleak, the present still looks positive for Chicagoland homeowners looking to sell. According to the NAR, sellers are still seeing strong returns on their houses. However, if interest rates continue to climb, sellers will almost certainly suffer lower returns and longer sales times in the near future.

Avoiding Unpredictable Expenses
“Financially, I think Monarch Landing is the best deal around,” says Henny Coppoolse from Glen Ellyn. Henny reached a point where living alone in her large house just didn’t make sense. “My house was too big and I didn’t want the responsibilities. I paid $600 just to heat the house,” she says.

Monarch Landing’s monthly service package includes utilities like heat, air-conditioning, electricity, and even 24-seven maintenance. No matter how cold it gets in winter, or how high energy costs soar, Henny’s monthly service package remains the same all year long.

In addition, she no longer has to flip through the phone book in search of repairmen, or shell out $300 every time the plumber comes to take a look at the kitchen sink. Should Henny’s dishwasher, dryer, washing machine, or any of the other appliances that come standard in her new home at Monarch Landing ever need a tuneup, her full-time maintenance team is just a phone call away.

More for Your Money
Norm and Bev Rathje live at Sedgebrook, Monarch Landing’s sister community in Lincolnshire, Illinois. “We’re spending about the same amount of money as we were before, but now we have all of these amenities and activities right at our fingertips,” says Bev. Before moving to Sedgebrook, Bev was able to get out and exercise only once or twice a week— weather permitting. Now, she just walks to the on-site Fitness Center.

“I think Erickson is a great value,” says Norm. “They offer so much more than you can have living in a house or condo.”

Despite the uncertainty of the current real estate market, Chicagoland residents like Norm and Bev who live at an Erickson community say they have financial peace of mind knowing that they’re protecting their hard-earned money. The real estate market can do whatever it wants.