Seniors Ponder Current Market

October 16, 2009

In most respects, this is a good time for seniors, including many baby-boomers, to take action in their plans to purchase a retirement home. Prices are low but beginning to rise in many markets. Mortgage rates are very low – almost at all-time record low levels. There are plenty of homes on the market to select from, although the inventory number is diminishing. Most indicators point to a "go" position for seniors.

However, some seniors who have purchased a retirement home now find themselves in a bind because it’s taking far longer to sell their old home than they expected. In the meantime, they are making mortgage payments for both homes, straining their financial resources.

Posted in Real Estate