When Christine and Ed Bollinger decided to list their five-bedroom colonial and move to Oak Crest, they suspected that their sought-after Timonium neighborhood and low mortgage interest rates would work in their favor. It turns out their instincts were right. Their home of 42 years sold in just 17 days.
“We thought the house would sell quickly because it is located in a nice neighborhood, convenient for shopping, good schools, and sidewalks, plus the mortgage rates are very favorable. With the interest rates so low, people would be foolish if they are hoping to buy a home not to look now,” says Ed.
Real estate experts point to a variety of factors driving the strong seller’s market and persuading seniors that now is the right time to sell and make their move.
“The market we are in now is unlike any that we have seen,” says Deborah Harari, a realtor with Long & Foster in Abingdon, Maryland. “Low inventory and low mortgage rates make this an amazing time to list your home. There is not enough supply to meet demand, therefore, we are experiencing multiple offer contracts on many of the listings that are on the market.”
According to Harari, this spring, homes in Baltimore County and Harford County were averaging anywhere from 3 to 14 days on the market. The National Association of Realtors reports that the median existing home sale price has risen nearly 16% compared to a year ago.
“We looked at a lot of other communities, and we debated whether we should move to an apartment or condo and then later downsize to Oak Crest,” says Ed. “We liked the idea that Oak Crest is a continuing care community so we never have to move again and Oak Crest just gave us the right feeling.”
A strong seller’s market has allowed retirees like the Bollingers to get the most for their homes and enjoy a vibrant retirement lifestyle at an Erickson Senior Living-developed and managed community like Oak Crest. Residents have access to a wide variety of amenities you likely won’t find in your home including an all-season swimming pool, fitness center, putting green, bocce courts, nearly 200 different clubs, classes, and volunteer possibilities. And conveniences such as a bank, hair salon, store, on-site medical center, and computer lab are all just a few indoor steps away.
“Ed settled into the community in about a half hour,” says Christine. “He joined the coin club, chess club, poker club, bocce, genealogy, the fitness center, and the woodshop. It took me a little while longer because I missed the house, but it’s hard not to settle in because everyone is so welcoming. It just feels like home.”
Oak Crest offers prospective residents assistance through Erickson Realty and Moving Services to help maximize the profit on their homes and expedite a speedy sale. The program offers help with every aspect of the moving process, including consultative home visits; professional real estate advice and marketing, staging, downsizing, packing, moving, and an array of other services.
“Our goal is to simplify the moving process,” says Oak Crest Personal Moving Consultant Ashley Ruth. “The more obstacles we can eliminate, the sooner you can move and start enjoying your new home and this outstanding lifestyle.”
Ed and Christine found the extra support from Oak Crest’s experts helpful.
“They went over all of the services that were available to us as far as choosing a preferred realtor and walking us through our house and helping us figure out what would fit in our apartment and how to downsize. I think having those services were a big help,” said Christine.
“Also, because we chose one of Oak Crest’s preferred realtors, we received a rebate back on our moving expenses,” adds Ed.
If you are planning to move, Harari says enlisting the help of a professional realtor early on will pay off in the long run.
“A realtor will help you gain the knowledge of the value of your home and any improvements that need to be made to increase the list price,” says Harari. “By starting early, you will have time to gradually make those improvements without being overwhelmed and make decisions that are well thought out. In the end, you will be more secure, gain more from the sale of your home, and move forward in the process with less stress.”
To learn more about the maintenance-free lifestyle at Oak Crest, request a brochure or schedule a tour!