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March 26th 2008
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Thanks
for reading us every week, our readership continues to grow!
We would love your feedback on how you rate us as an
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you the information you want.
Email us with your comments/inputs, please.
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A
Loan With No Payments!
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Focus on
Arizona
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25 New Active Lifestyle Communities
by Lifestyle -
PLUS
our new RV Communities
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And don't forget to visit our
Featured Arizona and other communities
Thanks for visiting us and
feel free to
send us your input!
Lisa and Stephan LaCount, Susan and Matt Varney |
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A Loan
With NO Payments! |
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What are the costs associated with a reverse
mortgage?
Currently,
reverse mortgages charge 4 points to the
consumer or senior. For example, on a
$150,000 reverse mortgage loan, you can
expect to pay $6,000 in fees. Two of the 4
points, or $3,000 of the $6,000, go directly
to the Federal Housing Administration. This
is somewhat like an insurance policy on the
senior so that the value of the loan never
exceeds the value of the home. If it should,
the Federal Housing Administration pays the
difference, and the heirs to the estate have
no liability. The remaining $3,000 (or 2
points) goes to the lender. This is the fee
the lender charges for providing a loan
where NO payments are
made for the life of
the loan and as long as the senior lives in
the house.
There is
legislation proposed to reduce the lender
fee from 2 points to 1 point. Essentially,
in the above example, this would reduce the
lender fee from $3,000 to $2,000. These
fees are the same for all lenders;
therefore, lenders today should only charge
a maximum of 2 points. The other fees
associated with getting a reverse mortgage
today are as follows:
1)
Appraisal
cost generally around - $400
2)
Credit
Report - $25
3)
Flood
Certification - $12.75
4)
Closing
fees - $360
5)
Title
Insurance - (Varies on the loan amount and
appraised value)
6)
Endorsements - $ 350
7)
Recording
Fees - $ 250
8)
Document
Preparation - $ 125
Worth noting is that the consumer never pays
for these fees out of his/her pocket because
it is added to the loan amount and financed
into the transaction.
Therefore, this becomes a loan with NO
payments. So for the senior looking for
cash to improve their quality of life, help
to pay the rising cost of healthcare or
purchase a new home, a reverse mortgage
becomes quite attractive and serves its
purpose.
Please feel free to call me today
and see if you qualify for a reverse
mortgage.
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
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Focus on Arizona
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While the flavor o f the old West is
certainly evident with some towns set more
in the past than in the present, the
trappings of the 21st century are
everywhere in Arizona. And just as the
towns are diverse and colorful, the terrain
of the state is too. Most people associate
Arizona with a desert. However, the truth
is that more than half the state features
mountains and plateaus and the state
contains the largest stand of Ponderosa pine
in the world. Of the state’s 118,000 square
miles, only 15% is privately owned. There
are 4 deserts. The rest is public forests
and park land, recreation areas and Native
American reservations. Arizona is on of the
Four Corners states along with New Mexico,
Utah and Colorado. It also touches
California and Nevada. It has 389 miles of
international border.
The lower 2/3 of
the state is considered to have a desert
climate. That part has mild winters and hot
summers. In summer the average temperature
is between 90 and 100, with highs sometimes
getting to 120 degrees. Due to its dry
climate, it is not uncommon to have up to 50
degree temperature swings between day and
night. In the winter, the average is a
very mild 50 degrees. In the northern part
of the state, the winter temps average in
the 20 – 30’s and the summers average in the
mid-70’s. The annual rainfall is 12.7
inches with most of it in the monsoon season
from mid-July through August. It can occur
in t orrential downpours. Fortunately, it is
rare for the state to experience a tornado
or hurricane.
At one time nearly
25,000 Indians were the exclusive residents
of Arizona. The earliest were the Hohokam
who were followed by the Anasazi and then
the Mogollons. The region was shaped by
prehistoric volcanism. The entire region is
slowly sinking. In fact, geologically, the
land can be envisioned as tilting downward
to the south. It became the 48th
state on Feb. 14th, 1912 and was
the last of the contiguous states admitted
to the Union. There is some disagreement
over what Arizona means. The most likely
explanations come from the Basque phrase
“aritz onak”, meaning good oaks, or from the
O’odham phrase “ali sonak, meaning small
spring.
The early economy
was based on cotton farming and copper
mining. It didn’t boom in the early years
due to a lack of water. That changed in
1911 when the Theodore Roosevelt Dam was
completed on the Salt River. It curbed the
occasional flooding and provided irrigation
water for Phoenix. In 1936, Hoover Dam was
completed forming Lake Mead – the largest
artificial lake in North America. Once the
water became plentiful, large scale industry
and agriculture followed. But by then the
Great Depression was in full swing and many
of the copper towns went under. Many of
these failed towns then became artist
communities and are still so today. It
wasn’t until the 20’s and 30’s that tourism
became an economic factor with the
introduction of dude ranches, upscale hotels
and resorts. The population grew
considerably after WWII in part due to the
development due to the development of air
conditioning. The population in 1910 was
294,353, in 1970 it was 1,752,122 and in
2006 it was 6,166,318. Retirement
communities became an economic factor
beginning in the 1960’s with Sun City by Del
Webb being one of the first to open in 1960.
Today the median age is 34.2 with the age
category of 25-59 making up
nearly half the
population and 60-84 making up nearly 1/6 of
the population.
Today, if Arizona
were a country it would have the 61st
biggest economy – bigger than Ireland,
Finland and New Zealand. Their modern
economy is based on copper and cotton but
also on cattle, citrus and tourism.
(Tourism is sometimes referred to as
climate, so that the economy is based on the
5 C’s). Their copper output comprises 2/3
of our nation’s output. The largest
employer is the state while the largest
private employer is Wal-Mart. Nearly 8% of
the economy is based on high tech industries
including software, computers, electronics,
and aerospace manufacturing. The current
trend is away from mining and agriculture
and towards high tech and service.
The Arizona
legislature is bicameral. Each of the 30
districts has one senator and 2
representatives. They are elected to two
year terms with no more than 4 terms
consecutively allowed in a chamber but with
no limit on the actual number of terms.
When a lawmaker is term limited in one
chamber, it is not uncommon for him/her to
run for the other chamber. There is one
session per year beginning on the second
Monday in January and ending no later than
100 days after the start. The current
governor is a Democrat. She lives in her
own private residence as there is no
governor’s mansion. From the territorial
days until the late 1940’s, Arizona was
dominated by Democrats. However, the
newcomers brought with them their Republican
votes. Today, Tucson is still largely made
up of Democrats and Phoenix is largely
Republican. In fact, Phoenix is considered
one of the most conservative urban areas in
the nation.
There are
five income tax brackets ranging from 2.87
on up to 5.04 percent. The latter bracket
starts at $150,001. There is no state sales
tax on food for home consumption nor on
prescription drugs. However, some cities do
tax food for home consumption.
About ¼ of Arizona
is reservations. Navajoland north of
Flagstaff and on into Utah, is the largest
reservation in North America. In the center
of it is the Hopi Indian Reservation. They
have lived on the same site without
interruption for more than 1000 years and
they have retained more of their ancient
traditions and cultures than any other
indigenous group.
Culturally,
Arizona is a center for Native American
art. It is also a Hollywood film hot spot
with several major movies being shot there.
Perhaps the most famous one was the film,
“Psycho”. It is also home to numerous
television shows and has a budding music
scene. There are 12 professional sports
teams and the state hosts numerous bowl
games and PGA tour stops. It is also home
to spring training for many professional
baseball teams. Recreactionally, outdoor
recreation abounds with horse riding,
mountain biking on old logging roads,
skiing, golf and, of course, hiking. The
Grand Canyon offers some of the best hiking
in the world. In fact, it is one of the
seven natural wonders of the world. The
state is also home to the Barringer
Meteorite Crater, one of the largest and
most well preserved meteorite impact sites
in the world near Winslow. One can also
visit the Petrified National Forest and the
Painted Desert.
Be sure to check
out our website at
www.activeadultliving.com for a listing
of all the active adult communities in
Arizona. I’m sure if you are in the area
representatives would be glad to show you
around. Look next month for a look into the
state of Maryland. As usual, be sure to
contact me with any questions, comments or
requests at
Dee@ActiveAdultLiving.com.
Dee Chandler, Editor |
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Our Preview of 25 Active Lifestyle Communities by Lifestyle |
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Active Lifestyle/Age Restricted Communities
State:
Texas
City: Lubbock
Community Name: Wilshire Estates
Age Restriction: Active Adult
Type of Home: Garden Homes
Home Square Footage: 1319 - 2558 Sq. Ft.
Priced from: Mid $200's
Number of Homes: 273
Web Site
Amenities: Clubhouse, Walking Trails, Swimming
Pool, Tennis Court, Gated Community, Maintenance
Free.
State:
Florida
City: Deland
Community Name: Victoria Gardens
Age Restriction: Active Adult
Type of Home: Single Family
Home Square Footage: 1430 - 2210 Sq. Ft.
Priced from: $200,000 - $350,000
Number of Homes: 705
Web Site
Amenities: Clubhouse, Billiard Room, Card Room,
Fitness Center, Swimming Pool, Spa, Tennis Court,
Close to Golf.
State: CT
City: Meriden
Community Name: Bridgefield
Commons
Age Restricted: Active
Adult
Type of Home: Single Family
Home Square Footage: 1835 -
1990 sq. ft.
Price: Low $300's
Number of Homes: 32
Amenities: Clubhouse,
walking paths
State: CT
City: Middleton
Community Name: Lakeridge
Age Restricted: No
Type of Home: Single Family
Home Square Footage: 1154 -
1612 sq. ft.
Price: High $100's
Number of Homes: 470+
Amenities: Gated, tennis,
fitness center, indoor and
outdoor pools, equestrian
center
State: CT
City: Middleton
Community Name: Sonoma
Woods
Age Restricted: 55+
Type of Home: Single Family
Home Square Footage: 2016 -
2589 sq. ft.
Price: Mid $300's
Number of Homes: 50+
Amenities: Hiking/ walking
trails, clubhouse, low
maintenance
Rental
Communities
State:
Arizona (Coming Late 2009)
City: Desert Ridge
Community Name: Sagewood
Age Restriction: Active Adult
Type of Home: Apartments, Duplexes, Eightplexes
Home Square Footage: 760 - 2400 Sq. Ft.
Priced from: $300,000 - $1M $2,000 - $3,700/Mnthly
Number of Homes: 750
Web
Site
Amenities: Restaurant, Fitness Center, Convenience
Store, Swimming Pool, Spa.
State:
Maine
City: Camden
Community Name: Quarry Hill
Age Restriction: 55 +
Type of Home: Cottages Sales, Apartment Rental
Home Square Footage: Cottages-1100 - 1632 Sq. Ft.
Apartments-623 - 1292 Sq. Ft.
Priced from: Cottages $239,000 Apartments $2255/Mnth
Number of Homes: 45 Cottages, 37 Apartments
Web Site
Amenities: Walking Trails, Gazebo, Close to
Fishing, Boating, Tennis.
State: New York
City: Port Jefferson Station
Community Name: Woodcrest Estates
Age Restriction: 55 +
Type of Home: Apartment Rental
Home Square Footage: 747 - 1118 Sq. Ft.
Priced from: $938 - $1128/Mnth
Number of Homes: 256
Web Site
Amenities: Clubhouse, Swimming Pool, Fitness
Center, Library, Billiards Room, Gazebo.
State: New York
City: Middle Island
Community Name: Stonegate
Age Restriction: No
Type of Home: Apartment Rental
Home Square Footage: 747 - 1369 Sq. Ft.
Priced from: $1445 - $1975/Mnth
Number of Homes: 165
Web Site
Amenities: Clubhouse, Fitness Center, Business
Center, Billiards Room, Swimming Pool, Tennis
Court, Basketball Court, Dog Run.
State: New York
City: Carmel
Community Name: Hughson Commons
Age Restriction: 55 +
Type of Home: Apartment Rental
Home Square Footage: 755 - 1002 Sq. Ft.
Priced from: $558 - $818/Mnth
Number of Homes: 94
Web Site
Amenities: Clubhouse, Library
Condominiums/Low Maintenance
State:
Maine
City: Westbrook
Community Name: Stroudwater Landing
Age Restriction: Active Adult
Type of Home: Towhomes, Cottages
Home Square Footage: 1025 - 1500 Sq. Ft.
Priced from: Mid $200's
Number of Homes: 114
Web Site
Amenities: Close to Shopping, Restaurant, Medical.
State:
Maryland
City: Bathesda
Community Name: Fox Hill Senior Condominiums
Age Restriction: 60 +
Type of Home: Condominiums
Home Square Footage: 834 - 2251 Sq. Ft.
Priced from: $541,900 - $1.8M
Number of Homes: 240
Web Site
Amenities: Gated Community, Golf Course, Courtyard,
Spa, Business Center, Card Room, Library, Fitness
Center, Indoor Pool.
State:
New Hampshire
City: Campton
Community Name: Owl' Nest Resort & Golf Club
Age Restriction: Golf Course
Type of Home: Condominiums, Single Family, Lots
Home Square Footage: 1700 - 15,000 Sq. Ft.
Priced from: $130,000 +
Number of Homes: 375
Web Site
Amenities: Clubhouse, Golf Course, Dining, Swimming
Pool, Fitness Center, Ski, Canoeing, Kayaking.
State:
California
City: Murrieta
Community Name: Grand Isle
Age Restriction: 55 +
Type of Home: Condominium Rentals
Home Square Footage: 548 Sq. Ft.
Priced from: $1050/Mnth
Number of Homes: 453
Web Site
Amenities: Swimming Pool, Spa, Clubhouse, Fitness
Center, Media Center, Business Center, Library, Game
Room, Card Room.
State:
New York
City: Port Chester
Community Name: Wellington Greene
Age Restriction: No
Type of Home: Condominiums
Home Square Footage: 1137 - 1770 Sq. Ft.
Priced from: $400,000 +
Number of Homes: 66
Web Site
Amenities: Fitness Center, Close to Waterfront,
Metro Trains, Restaurant, Shopping.
Manufactured Home Communities
State: Florida
City: Groveland
Community Name: Woodlands at Church Lake
Age Restriction: 55 +
Type of Home: Manufactured
Home Square Footage: 1500 - 1560 Sq. Ft.
Priced from: $100,000 +
Number of Homes: 275
Web Site
Amenities: Maintenance Free, Clubhouse, Spa,
Shuffleboard, Boat and RV Storage, Fitness Center,
Bocce, Tennis Court, Putting Green, Close to Lakes,
Golf, Fishing.
State:
Florida
City: Sebastian
Community Name: Sebastian Beach & Tennis Village
Age Restriction: 55 +
Type of Home: Manufactured
Home Square Footage: 1600 2000 Sq. Ft.
Priced from: Mid $100's
Number of Homes: 350
Web Site
Amenities: Fitness Center, Wellness Center, Spa,
Beaches, Boating, Fishing, Hiking Trail, Bike Trail,
Tennis Court, Swimming Pool, Close to Golf.
State:
Florida
City:
Sebastian
Community Name: Park Place
Age Restriction: 55 +
Type of Home: Manufactured
Home Square Footage: 1550 - 2100 Sq. Ft.
Priced from: $140,000 +
Number of Homes: 179
Web Site
Amenities: Maintenance Free, RV and Boat Storage,
Clubhouse, Gated Community, Fishing, Swimming Pool,
Fitness Center, Tennis Court, Library, Billiard
Room.
State:
Texas
City: Houston
Community Name: Pine Trace
Age Restriction: No
Type of Home: Manufactured
Home Square Footage: 1216 - 2016 Sq. Ft.
Priced from: $25,000 - $63,000
Number of Homes: 278
Web Site
Amenities: Swimming Pool, Tennis Court, Basketball
Court.
State: South Carolina
City: Taylors
Community Name: Pebble Springs MHC
Age Restriction: 55 +
Type of Home: Manufactured
Home Square Footage: 840 - 2016
Priced from: $40,000 - $56,000
Number of Homes: 90
Web Site
Amenities: Close to Shopping, Restaurant,
Medical.
RV Communities
State: ID
City: Boise
RV Community
Name: Hi Valley RV Park
Amenities:
192 sites, Full hook-ups available,
Bathhouse, Wireless Internet available, Pets
allowed
State: ID
City:
Declo
RV
Community Name: Village Of Trees RV
Resort
Amenities: 300 sites, Full hook-ups
available, Wireless Internet, 24 hour
courtesy patrol, On-site store, Pets
allowed, Open year round
State: ID
City:
Preston
RV
Community Name: Cub River Guest
Ranch
Amenities: 11 sites, Full hook-ups
available, Bathhouse, Wireless
Internet
State: ID
City: Grangeville
RV
Community Name: Bear Den RV
Resort
Amenities: 22 sites, Full
hook-ups available, Wireless
Internet, On-site store,
Bathhouse, Pets allowed, Open
year round
Luxury/Golf/Waterfront Communities
State:
North Carolina
City: Sylva
Community Name: Balsam Mountain Preserve
Age Restriction: Golf Course
Type of Home: Single Family, Homesites
Home Square Footage: 1000 - 6000 Sq. Ft.
Priced from: $400,000 - $1.5M
Number of Homes: 354
Web
Site
Amenities: Golf Course, Equestrian Center, Fishing,
Hiking Trail, Gated Community, Biking Trail,
Clubhouse, Spa.
State:
Texas
City: San Antonio
Community Name: Cordillera Ranch
Age Restriction: Golf Course
Type of Home: Single Family, Lots
Home Square Footage: 3600 - 7249 Sq. Ft.
Priced from: $100,000 - $3.9M
Number of Homes: 375
Web Site
Amenities: Golf Course, Equestrian Center, Tennis
Court, Fishing, Valley View, Riverfront, Gated
Community, Spa, Swimming Pool.
State:
Georgia
City: Toccoa
Community Name: Currahee Club
Age Restriction: Luxury
Type of Home: Single Family, Lots
Home Square Footage: 3200 - 6200 Sq. Ft.
Priced from: $150,000 - $1.8M
Number of Homes: 800
Web Site
Amenities: Gated Community, Golf Course, Clubhouse,
Dining, Tennis Court, Marina, Boating, Swimming Pool,
Walking Trail, Hiking Trails, Fitness Center, Fishing.
For many more
new communities
click here |
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Sponsors |
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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 |
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Featured Communities |
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Featured Communities |
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Links |
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Active Adult
Living.com
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to be Added
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