March 2008 

 
We're in our 10th year on the Internet!  Welcome to our new look newsletter.  We'll soon be welcoming you to our new look, searchable web site offering information and web links to over 3,000 active lifestyle communities.  In the meantime, In this issue:
  • Dreaming of life in an Active Lifestyle Community but think you can't afford it?  Think again . . .
  • Focus on Canada
  • 25 New Active Lifestyle Communities by Lifestyle
  • And don't forget to visit our Sponsored Communities
  • Coming Later This Month - Focus on Arizona

Thanks for visiting us and feel free to send us your input!
Lisa and Stephan LaCount, Susan and Matt Varney

Using a Reverse Mortgage to Purchase a New Home


Dreaming of life in an Active Lifestyle Community but think you can't afford it?
  Think again . . .

Today’s Baby Boomers are increasingly trying to find ways to improve their quality of life.  It is amazing that seniors can actually purchase a new home of their dreams without affecting their other assets or monthly income

Recently we have seen an increase in 55+ communities offering incentives to attract more seniors to their respective community.  In some case, seniors can actually buy a new home more expensive than the one they currently live in.  This could offer a solution to someone who either needs a better living environment, or needs to be on a ranch or one floor living space and perhaps felt this was unattainable because they have no assets other than than the house they live in. 

Real Estate agents love this because they actually get to sell the old home at current market value, then help the senior move into a new home of greater value, and with more amenities.  A senior can take the remaining proceeds from their current home, and use it as the down payment on a new home.  They can then obtain a reverse mortgage to make up the difference on the sale price for the new home. 

This is especially attractive to a senior where the children are concerned about current living conditions, if the parent needs some companionship, better monitoring of the parent’s daily activities, and an overall better quality of life.

Some highlights for seniors who want to use a reverse mortgage to stay in their home or purchase a new one:

A Federally Insured and Guaranteed Financial Product *

        Government mandated safeguards

        Insured by FHA and guaranteed by Federal Government

        Free 3rd party counseling by independent, gov’t approved, organizations

        Homeowners, retain title and stay in home until they decide to leave

        Federal government regulates the terms of the Reverse Mortgage

*HECMs, which represent 90% of all Reverse Mortgages, only

Typical Comments from Seniors

"No longer do I have to tell myself I can't have something".

 ". . . once again, I am able to relax and enjoy the life I've created with my friends. No problem meeting the expenses for my medication which is a significant cost".

"I paid off the existing mortgages and some credit cards".

"Now I have a guaranteed income for the rest of my lifetime".

"The reverse mortgage me to help my daughter and grandchildren and enjoy my retirement, too!"

"I took some of the money right away and did some fixing up of the house-new paint, a new roof a termite exam and repairs".

Typical Uses of the Proceeds

        Pay living expenses

        Retire debts, primary mortgage

        Fund property taxes/insurance

        Make home repairs

        Delay going into a nursing home

        Engage in social events

        Renovate homes

        Purchase long term care insurance

        Pay for hospital/healthcare

        Reduce burden on children

        PURCHASE A NEW HOME

In most cases seniors will need to review this option with an expert on how to use a reverse mortgage to purchase a home.

Bill Pearson
Vision Mortgage Capital
790 Penllyn Pike, Suite 304, Blue Bell, PA 19422
Office: (215) 646-8088 ext 205  Cell: (215) 817-1404
E-mail bpearson@visionmortgagecapital.com


Focus on Canada


Canada is the second largest country in the world yet its citizenry of around 30 million makes its population smaller than that of California.  It is comprised of 10 provinces and three territories.  It is bounded by three oceans (Atlantic, Pacific and Arctic) and has extraordinary natural beauty with dramatic land and seascapes and cosmopolitan cities.  It is a country that has great cultural and ethnic diversity ranging from its indigenous First Nations bands to French and British pioneers to the more recent Asian immigrants.  In fact, there are over 35 recognized ethnic groups with populations of over 100,000 each.  They are considered peaceful people with a very tolerant attitude toward others who are different from themselves.  The two official languages are English and French, although most of the French speakers also have passable English.

When considering moving or even just visiting the country, the obvious first issue one might think about is the weather.  In Southern and Central Canada, the weather is much the same as that in the Northern U.S.  This equates roughly to highs in July and August in the mid to upper 70’s with some days in the 80’s.  Winters hover around 5 degrees.  This explains why 90% of Canadians live near the U.S. border.  Further north, it has an Arctic climate with only a brief but surprisingly warm summer which provides a breeding ground for lots of insects.  Visitors should prepare for those insects when making traveling plans.  Traveling to Canada is relatively easy but it will require proof of citizenship which is either a passport or an original copy of a birth certificate (photocopies can be refused).  You can bring pets with you but they must be accompanied by proof of current rabies vaccinations.  

The federal government is a constitutional monarchy.  It is ruled by a parliamentary system with the figurative head being the monarch of Britain.  The real leader of the country is the Prime Minister who is the head of the political party with the most elected representatives in the House of Commons.  The ten provinces are largely self-governed and are presided over by elected premiers.  The balance of power between federal and provincial authorities is an ongoing contentious issue.  In fact, Senate reform or even abolition is an ongoing debate of the country.

The economy has historically been based on the land’s abundant natural resources – fish, timber, minerals, oil and gas and more recently, hydroelectricity.  Much of the land is lake and river filled forests but there are also mountains, plains and even a small desert.  Surprisingly, only 5% of the land is considered arable but yet wheat and barley account for much of their exports.  The largest part of the economy is services including a very large civil service (nearly 75% work in this field), banking, and insurance.  Education is valued and is subsequently another large component of the economy and the citizens enjoy a 99% literacy rate. Of adults 25-34, 51% have at least some post-secondary education.  Manufacturing has long been a weak component of the economy. 

In general prices for goods and services are comparable to the U.S.  Residential home price averages rose 11.7% in 2007 with the average house costing $313,645.  Car insurance is considered expensive compared to other countries.  Throughout Canada, you will be charged a federal goods and service tax on virtually everything.  In most provinces you will also be subject to additional sales taxes including on financial transactions.  Citizens are subject to federal and provincial income taxes based on income.  There are four tax brackets beginning at 15% with the upper bracket being 29% starting at $120,887.  There are many deductions and many things considered taxable income in the U.S. are not taxable income there, including lottery winnings.  The federal government collects all the income tax for most of the provinces and it collects roughly three times more personal income tax than corporate. 

Recreationally, the country is a virtual outside playground.  The official national sports are hockey and lacrosse.  Curling and football are also popular.  In the main metropolitan areas there are numerous opportunities for all sorts of multi-cultural performing arts and a diverse assortment of cuisine.

If you are considering Canada as a retirement location or even for a second home, check out the beautiful community listings on our site at www.activeadultliving.com.  As always, I enjoy hearing your questions or comments at Dee@ActiveAdultLiving.com.  Till next time . . .

Dee Chandler, Editor

Our Preview of 25 Active Lifestyle Communities by Lifestyle


Active Lifestyle Communities

State:  South Carolina
City:  Myrtle Beach
Community Name:  Berkshire Forest
Age Restriction:  Golf Course
Type of Home:  Single Family
Home Square Footage:  1122 - 3605 Sq. Ft.
Priced from:  $190,000 - $250,000
Number of Homes:  153
Web Site
Amenities:   6,500 sq. ft. clubhouse, a grand pool with spa, children's pool, spacious patio, and picnic area. Look through palms to the lake's sandy white shore. Launch a canoe, there's a fitness center, lighted tennis courts, and basketball and bocce courts.

State:  South Carolina
City:  Beaufort
Community Name:  Habersham
Age Restriction:  Waterfront
Type of Home:  Single Family, Homesites, Townhomes
Home Square Footage:  1300 - 4166 Sq. Ft.
Priced from:  $355,000 - $1.695M
Number of Homes:  1000
Web Site
Amenities:  Nearby: Woodland and waterfront parks, nature trails, sea island amenities, boating, fishing, swimming, nearby golf.

State:  South Carolina
City:  Myrtle Beach
Community Name:  Lakeside Crossing
Age Restriction:  55 +
Type of Home:  Single Family Ranch
Home Square Footage:  1067 - 1908 Sq. Ft.
Priced from:  $119,000 - $189,000
Number of Homes:  693
Web Site
Amenities:  Lakeside Crossing clubhouse and spa, social center, year round pool, play tennis, walking and bike paths, adjacent private fishing pier, picnic on the private beach, arts, crafts, and hobbies studio, card and game room, a billiard room, lounge, computer and business center, and a library.

State:  South Carolina
City:  North Augusta
Community Name:  Mount Vintage Plantation & Golf Club
Age Restriction:  Golf Course
Type of Home:  Single Family, Patio Homes, Homesites
Home Square Footage: 1700 - 3000 Sq. Ft.
Priced from:  $300,000 - $2M
Number of Homes:  26
Web Site
Amenities: 
Clubhouse features a tavern-style grille, golf shop, a formal dining porch overlooking a practice facility, the Town Center includes tennis courts, a swimming pool, a fitness center, a community garden and a general store. There are miles of walking, jogging and biking trails, streams and fish-filled lakes. Mount Vintage Plantation is also well-equipped equestrian center that provides full boarding facilities and a lesson program.
 

State:  CT
City:  Cheshire
Community Name:  Cheshire Crossing
Age Restricted:  62+
Type of Home: Single Family
Home Square Footage:  1550 - 2630 sq. ft.
Priced from:  $370's - $460's
Number of Homes:  51
Amenities:  Close to dining and shopping

Condominiums / Apartment Homes / Rentals

State:  Oklahoma
City:  Yukon
Community Name:  Spanish Cove
Age Restriction:  Active Adult
Type of Home:  Apartment Homes
Home Square Footage:  702 - 1015 Sq. Ft.
Priced from:  $65,000 - $85,000 (Entry Fee)    $2000 - $2200/Month
Number of Homes:  191
Web Site
Amenities:  Enclosed heated swimming pool with atrium and indoor patio, billiards and game room, Spanish Cove Singers, Video library, Art studio, Library, woodworking shop and craft studio, Private dining room, Bistro Grill, Club room, Full-time events coordinator, Computer lab with Internet access, Massage and facials, Horseshoe pits, Pet park, Table tennis, Fitness center, Certified personal trainer, water aerobics, Exercise classes, Yoga classes, Scheduled transportation for shopping and planned trips, Shopping shuttle, scheduled transportation for medical and dental appointments.

State:  New York
City:  Albany
Community Name:  Avila
Age Restriction:  Active Adult
Type of Home:  Apartment Homes, Cottages
Home Square Footage:  780 - 2043 Sq. Ft.
Priced from:  $60,000 - $94,000 (Entry Fee)  $1800 - $2409/Mnth
Number of Homes:  152
Web Site
Amenities: 
Library with Computer Stations, Interfaith Chapel, Arts & Hobby Studio, Card & Game Room, Indoor Aquatic Center with Pool, Spa & Locker Rooms, Guest Suites, Resident Business Center, Mail Room, Nature Preserve, Casual & Private Dining Rooms, Bistro Cafe, Courtyard Terrace, Fitness and Aerobic Center, Gift & Convenience Store, Hair Salon, Walking Paths, Greenhouse.

State:  New York
City:  Lowville
Community Name:  Brookside
Age Restriction:  Active Adult
Type of Home:  Apartment Homes, Cottages
Home Square Footage:  525 - 1450 Sq. Ft.
Priced from:  $49,000 - $150,000 (Entry Fee)   $500 - Varies
Number of Homes:  80
Web Site
Amenities:  Woodworking shop, hair salon, indoor shuffleboard court, a guest room, garden areas and a private parlor room/dining room.

State:  South Carolina
City:  Anderson
Community Name:  The Legacy at Anderson
Age Restriction:  Active Adult
Type of Home:  Apartment Rental
Home Square Footage:  559 - 1009 Sq. Ft.
Priced from:  $1995 - $3000/Mnth
Number of Homes:  101
Web Site
Amenities:  Library, computer lab, play a game of cards in the game room, have a  private parties with family and friends. The Legacy even has a country store on the property to save you trips to the market!

State:  South Carolina
City:  Simpsonville
Community Name:  The Ravines at Creekside
Age Restriction:  Active Adult
Type of Home:  Single Level Condominiums
Home Square Footage:  1700 - 1850 Sq. Ft.
Priced from:  $205,000 - $220,000
Number of Homes:  110
Web Site
Amenities:  Maintenance free community community features a heated pool and fitness center located in the clubhouse.

Manufactured Homes

State:  New Hampshire
City:  Sandown
Community Name:  Mill Pine Village
Age Restriction:  Active Adult
Type of Home:  Manufactured Homes
Home Square Footage:  1080 - 1800 Sq. Ft.
Priced from:  $184,000 - $226,000
Number of Homes:  38
Web Site
Amenities:  Access to the Community Center Building & Recreation Area that includes: Gazebo, Bocce Courts, Horse Shoe pits, Picnic Tables & Barbecue Area, Paved Walking Trails with Exercise Stations throughout the community.  Maintenance Free Living includes Lawn Maintenance, Snow Removal, year round Waste Pick-up Service.

State:  Colorado
City:  Pueblo
Community Name:  North Point Estates
Age Restriction:  No
Type of Home:  Manufactured
Home Square Footage:  950 - 2400 Sq. Ft.
Priced from:  $30,000 - $110,000
Number of Homes:  430
Web Site
Amenities:  Hiking, Bike Trails, Marina, Boating

State:  Florida
City:  North Port
Community Name:  River Walk
Age Restriction:  Active Adult
Type of Home:  Manufactured
Home Square Footage:  1200 - 1600 Sq. Ft.
Priced from:  $90,000 - $125,000
Number of Homes:  223
Web Site
Amenities:  Nature Trails, Pool, Tennis Court, Clubhouse, Billiard, Hobby Room.

State:  Florida
City:  Fort Pierce
Community Name:  Golden Ponds
Age Restriction:  55 +
Type of Home:  Manufactured
Home Square Footage:  Varies
Priced from:  $21,000 - $114,000
Number of Homes:  391
Web Site
Amenities:  Bocce Court, Pool, Crafts, Billiards, Tennis Court, Close to Shopping and Restaurant.

State:  Florida
City:  Lakeland
Community Name:  Foxwood Lake Estates
Age Restriction:  55 +
Type of Home:  Manufactured
Home Square Footage:  850 - 1200 Sq. Ft.
Priced from:  $60,000 - $130,000
Number of Homes:  545
Web Site
Amenities:  Clubhouse, Pool, Spa, Fitness Center, Billiards, Crafts, Fishing, Walking Paths, Lake.

Luxury / Country Club Homes


State:  CT
City:  Branford
Community Name:  Riverwalk
Age Restricted:  Active Adult
Type of Home:  Luxury Single Family, Custom Homes
Home Square Footage:  1745 - 2600 sq. ft.
Price:  $480's
Number of Homes:  60
Amenities:  Close to Shopping, Dining, Marina nearby, Golf nearby
State:  IL
 
City:  Elgin
Community Name:  Bowes Creek Country Club
Age Restricted:  55+
Type of Home:  Single Family, Townhomes
Home Square Footage:  2000 - 2300 sq. ft.
Price:  Mid $200's
Number of Homes:  164
Amenities:  Golf, Country Club, Low- Maintenance, Walking trails, Fitness Center, Pool

State: Alabama
City: Gulf Shores
Community Name: Crystal Shores West
Lifestyle: 55+
Type of Home: Condominiums
Home Square Footage: 1296 - 2628 sq.ft.
Priced From: $425,000 +
Number of Homes: 108
Web Site
Amenities: Indoor/Outdoor Pool, Fitness Center, Close to shopping & restaurants

State:  Arizona
City:  Scottsdale
Community Name:  Saguaro Estates
Age Restriction:  Luxury
Type of Home:  Single Family
Home Square Footage:  4459 - 7108 Sq. Ft.
Priced from:  $1.2M - $1.9M
Number of Homes:  80
Web Site
Amenities:  Gated community, Elegant Southwestern Lifestyle, Close to Shopping, Schools.

State:  Arizona
City:  Phoenix
Community Name: Fireside at Desert Ridge
Age Restriction:  Active Adult
Type of Home:  Single Family
Home Square Footage:  1448 - 4289 Sq. Ft.
Priced from:  $360,000 - $790,000
Number of Homes:  911
Web Site
Amenities:  Multi-purpose Game Room, Gathering Room/Great Room,Weight room, Cardio room, Aerobics, Yoga and Dance, Fitness Lounge, Spa Treatment Rooms, Men's and Women's Locker Rooms, Saunas and Showers, Yoga Garden, Open Park Space, Lighted Basketball Courts, Lighted Tennis Courts, Pools & Spas, Lap and Leisure Pool

For many more new communities click here

Sponsors

Stonecroft Homes  New Hamburg, Ontario  Canada
Set on the banks of the Nith River, surrounded by rolling hills.  Social center features swimming pool, fitness center, dance classes, badminton, cards, tennis, walking trails, BBQ area.   Click Here for Community details
 
Pacific at Real Del Mar  Mexico Luxury Condominiums
180 degree view of Coronado Islands / Pacific Ocean, golf course, Marriot Hotel, equestrian center, indoor pool, enrichment classes, walk to restaurants and cafés.  Condominiums from Mid $100's - Mid $300's. 
More details
Featured Communities
Arizona Virginia Florida Georgia
Sunbird
Chandler
Turnberry East
Fredericksburg
Legacy of Leesburg
Leesburg
Lake Oconee
Greensboro

Links

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Meet the Team

Stephan LaCount
Sales Director
Phone: (702) 614-9120
Fax:  (866) 269-4545
Email:
stephan@activeadultliving.com

1785 E Sahara Avenue
Suite 490-440
Las Vegas, NV 89104
 

Dee Chandler, E-Newsletter Editor
Email: 
dee@activeadultliving.com
 

Lisa LaCount, Web Designer
Email: 
lisa@activeadultliving.com
 

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