Why should I consider a Reverse Mortgage?

A reverse mortgage, also called a Home Equity Conversion Mortgage (HECM), uses the equity you already have in your home to re-finance and eliminate your mortgage payment; for as long as you (and your spouse) live in your home. It also lets you purchase a home by letting you access some of the homes value to never have a mortgage payment again. This loan requires one person to be a min of 62 years of age. It can create financial comfort and ease by eliminating the worry of home mortgage payments.

What is a Home Equity Conversion Mortgage? Is it right for me?

The Home Equity Conversion Mortgage (HECM) program offers people who are a min of 62 years of age (actually only one of you needs to be 62) the opportunity to purchase your home with as little as 40% cash down payment and never make a mortgage payment again.

This can make getting your dream retirement home a reality. You won’t need to put all your cash into the purchase of your home. Leaving you with more for living. If you already have had a mortgage and it still is going on, you could look at note investing, this is where a mortgage note investor buys your mortgage loan, land contract, mortgage contract, deed of trusts, etc. to help you out with another mortgage that suits you better.

I sit down with Jacqui Hamilton a specialist in HECM loans to discuss what they are and the benefits.

 

Jacqui Hamilton
Concord Mortgage
Jacqui.Hamilton@concordmg.com
623-900-1935

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If you are about to turn fifty-five years old, there’s a good chance you’re thinking about where to go and what to do when you retire.

Thousands of people just like you have already made the leap, and many of them are enjoying life in active adult community. On the beach, in the mountains, in the desert, wherever you have envisioned for your retirement, it’s waiting!

Irene A. Hammond is a veteran real estate agent who prides herself on helping people find the perfect place to retire. She answers the questions you have been pondering and brings up other details for consideration. Get the answers to questions such as:

  • Is an active adult community right for me?
  • What are the benefits of a large or a small community?
  • Is it easy to make new friends in these communities?
  • Should I purchase a new build or purchase a resale home?
  • What is Estate Planning?

She also explains how you can be younger than 55 and still live in an active adult community, any fees you should know about, when is the best time to visit one of the communities, and common activities. Attorney Leanne B. Martin has written a bonus chapter on estate planning, trusts and wills.

Here is the guidance you need to enjoy the lifestyle you crave, with the active adult community insights in Retirement Isn’t Boring

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Retirement Isn’t Boring – Forward

One of my fabulous clients wrote this piece that I used as the forward of my book, Retirement Ins’t Boring, When you live in an Active Adult Community.

Buying a new home can be a daunting task. Even if you’ve found a home from RCSOTHEBYSREALTY.COM that you absolutely adore, it is one of the biggest financial decisions you will make in your lifetime. The anxiety of making such a large investment as you move into the retirement years creates even more intensity. This is especially true if you don’t have a huge income/pension that could barely cover the costs of a dream home; you do not want to make the wrong decision with such a big financial burden on you. However, if you are someone who can’t necessarily afford your big dream home, perhaps look into the option of foreclosed homes. You can find considerably lower prices at real estate auctions on foreclosed homes that are similar to the property of your dreams (check out Auction.com for more details). You can become overwhelmed by the multiple options of making your final “dream home” become a reality. Choosing the right realtor makes these decisions less stressful and more of an adventure. You will also want to choose the right location, you will want a location that is right for you and offers you what you want, whether this is a forest area, by the beach, a busy town or the exciting city life. If Columbia is the right location for you then you should check out the houses in charlotte, nc and see the luxurious property on their website and choose the one that is right for you.

Irene Hammond was our “adventure” leader. She was an expert in finding our “dream home” in a retirement community like The Villages Florida. She gathered information on our “wants” and “needs” and began looking at matches for our criteria. She knew the Active Adult Communities well, which helped us narrow our search. We appreciated her honesty and willingness to tell us if something that caught our eye would not be a good fit for us. This helped avoid mistakes we might have made on our own. This was particularly critical since we were moving from the Midwest to the Southwest. Even her “yes, no, maybe” answers were helpful in making decisions and narrowing our search. When our new home sales person commented, “She really knows her stuff” we were even more assured that Irene was keeping our best interests at the forefront. Her knowledge of resale and newly built homes was especially helpful. We looked at both options in our search. When we ended up buying a newly constructed home she was able to walk through the home and point out things we needed to have completed prior to signing off. We are grateful that we were able to access her expertise to find exactly what we wanted in a community as well as a new home.

Reading this book will allow you to learn from an expert. Best wishes as you join Irene on your adventure to find your dream home/community.

Mark and Linda Bettes

Retirement Isn’t Boring, When You Live in an Active Adult Community

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If you are about to turn fifty-five years old, there’s a good chance you’re thinking about where to go and what to do when you retire, there’s many possibilities you could be looking in to, such as retirement community such as SPRINGHARBORLIFE.ORG and more.

Thousands of people just like you have already made the leap, and many of them are enjoying life in active adult community. On the beach, in the mountains, in the desert, wherever you have envisioned for your retirement, it’s waiting! Researching the best places to retire can help you find what suits you perfectly and keep you happy with your choice.

Irene A. Hammond is a veteran real estate agent who prides herself on helping people find the perfect retirement communities to retire. She answers the questions you have been pondering and brings up other details for consideration. Get the answers to questions such as:

  • Is an active adult community right for me?
  • What are the benefits of a large or a small community?
  • Is it easy to make new friends in these communities?
  • Should I purchase a new build or purchase a resale home?
  • What is Estate Planning?

She also explains how you can be younger than 55 and still live in an active adult community, any fees you should know about, when is the best time to visit one of the communities, and common activities. Attorney Leanne B. Martin has written a bonus chapter on estate planning, trusts and wills. If you don’t already know, estate planning is essential for the management of all your assets during your life and after death. Most people will get the help of an attorney, like the ones at Cunningham Legal, to help them through the process of creating one and ease any concerns that clients may have. Hopefully this bonus chapter will help people realise the importance of estate planning.

Here is the guidance you need to enjoy the lifestyle you crave, with the active adult community insights in Retirement Isn’t Boring

Encore at Eastmark

Senior Couple Putting On In Line Skates In Park

Located in the southeast valley on the site of the former General Motors Proving Ground is the new master planned community of Eastmark.

Nine builders are developing the project, each builder offering several home styles and price ranges. Parks and playgrounds abound.   This plan of situating an Active Adult community within a larger Master Planned community is a popular one.

It allows the younger families their schools and playgrounds and ball fields, while grandparents can be nearby but enjoy their privacy, quiet and separate adult activities.   AV Homes began this community and they were acquired by Taylor Morrison in late 2018. The 55+ community “Encore at Eastmark”  is located to the southern edge of the property with views of the Superstition Mountains.  The connections to the main freeways are within a few miles creating a desirable location for the Active Adult who is working in the valley.  The majority of new homeowners in Encore are moving to the community from the nearby towns of Gilbert, Chandler and Mesa. Currently there is a higher ratio of year round residents than other Active Adult Communities.

Encore residents will have their own facilities and will share the Mesa City Park amenities with the Eastmark families.  The proximity of Mesa-Gateway airport offers connections to many western cities.  Encore is a lovely community with many contributing factors to facilitate the 55+ Active Adults move into a fun filled retirement.

Currently there are no resale homes in this community

Return to Arizona Active Adult Communities page

Lone Tree

active-adult-couple-bbq_thumb.jpgThe newest Pulte Active Adult Living Community is Lone Tree.  Located in Chandler, the small community of only 72 homes, is adjacent to the older Pulte communities of Solera and Springfield Lakes which adjoin the Lone Tree Golf Course.   Lone Tree is unique, not only for its’ intimate size, but that the only amenity besides being gated, is a reduction in fees to use the Lone Tree Golf Course. The residents will not have reciprocal use of the Solera/Springfield Lakes clubhouses and amenities.   The target homeowner is one who may still be working in the valley or perhaps with already established community activities and who just wants age restrictive surroundings, the security of a gated community and a beautiful new Pulte home. The first residents will be moving into their new homes in April of 2016 and community completion is expected within the year.   

Check out Solera /Springfield Lakes

Return to Arizona Active Adult Communities page

 

There are no listings for this community at this time.

Lone Tree

Trilogy at Verde River

Tegava 1Trilogy at Verde River, originaly the Vista Verde development was to be the third of the “Verdes”. It was sold in 2014, in its’ infant stage, as growth had stalled during the real estate downturn. The golf course was renamed The Tegavah Course, inspired by the Yavapai word for “Gathering Place”.   Shea builders are the buyers and Trilogy is their main Active Adult Community product. Trilogy at Verde River started selling in late 2015, the main clubhouse will break ground in 2016.  The facilities and homes, according to real estate rumors, are going to exceed anything Shea has previously built. The setting alone will contribute to deserving that accolade.  As the newest active adult community in the north-east valley in decades, it will be highly publicized.  On a recent drive-by we saw lots of activity.   If you would like to be kept current on this community, let us know.

 

Return to Arizona Active Adult Communities page

This community is now building homes.
Please ask us to show you this community on your next visit!

Tegavah Golf

Victory at Verrado


 New in the South West Valley!  Victory has opened.

Located west of Luke Air Force Base, south of the White Tank Mountains and north of I-10 in Buckeye, Victory is the newest Active Adult Community in the southwest Valley of The Sun.

It is located in the all age master planned community of Verrado.  The concept of locating a 55+ Active Adult Community within a multi-generational one is not new, but is gaining rapidly in popularity.  Victory offers the home designs of four different builders.

Each of the builders is well established in Arizona and each emphasizes a different lifestyle. With homes that flow to outdoors,  Open Concept Living, courtyards and patios as part of the living space, Next Gen living and other concepts.  The options are astounding.  

  • David Weekly Homes
  • Pinnacle West
  • K. Hovanian Homes, 
  • Taylor Morrison Homes, 
  • Lennar Homes and
  • Maracay Homes.  

Homes start in the 200’s to the 500’s, with the size of homes ranging from 1222 square feet to over 3300 square feet. 

With the six builders, Victory truly offers something for every over 55 person looking to continue living their active lifestyle in a resort setting.

 

SaddleBrooke One and Two

dreamstime_l_15579174.jpgSaddleBrooke is one community with two HOAs. The two were separated in 1994 and have slightly different rules and governance.

SaddleBrooke One has an HOA which has been turned over to the residents to operate. The three golf courses, Tucson, SaddleBrooke and Catalina are totally private with play limited to residents of SaddleBrooke One, Two, the Ranch and their guests.  SaddleBrooke Two is expected to be turned over to the residents in 2015 or 2016 when totally built out by Robson.     Saddlebrooke One has 2059 homes while SaddleBrooke Two presently has 2700 homes with 3,200 expected at completion.

SaddleBrooke One and Two currently share all of their amenities.    The security is maintained by the communities in the form of traffic patrols for autos and golf carts on the private roads connecting the areas. The Security Patrol also provides home checks for absentee residents.

With the incomparable Tucson weather, the magnificent mountain views and the desert color it is easy to sit and just enjoy your resort retirement, but there is so very much to do that you may have to ration your time to be sure of some time to sit and enjoy!

Each of the clubhouses host so many clubs and activities that when you are not playing golf, or using one of the 21 tennis courts, the many Pickleball courts or the 8 indoor and outdoor swimming pools you will want to do something different every day of the month. Each of the fitness centers have full activity calendars.  Enjoy dining and a sunset or a quick lunch between activities, you have 3 restaurants and 3 grills to pick from.  This is resort style retirement at its’ ultimate.

Return to Arizona Active Adult Communities page

 

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