This article appeared in the Spring issue of Asbury Methodist Village’s Livestyles publication. Asbury is a retirement community that I have worked with for years and am excited to be building a wonderful relationship with as with many other retirement communities in our area. Here’s what they had to say:
Real estate prices have been on the rise for more than a year now and the strong local economy has homes in Montgomery County selling this spring after just two or three weeks on the market, explains real estate expert Eric Stewart.
Another engine pushing sales ahead this year, according to Stewart was the $8,000 tax credit for first-time home buyers as well as a $6,500 credit for repeat home buyers. “Even though the credits expired at the end of April, buyers haven’t been daunted he said we’re still saying buyers interested in taking advantage of the low interest rates and low prices.”
Stewart said the improved market conditions make it an ideal time to sell a home, particularly for retirees and others who no longer need to the space they did when they were raising families.
“The market is even stronger in areas with ties to exceptional school districts, proximity to Metro and bus lines and other amenities,” said Stewart, who began his real estate career more than two decades ago.
“When you first buy a home, it’s the right side and it’s fits your needs well – maybe there’s even some extra room to grow into,” he said. “But over time, it becomes too much and it’s good to begin the process of rightsizing.”
Letting go to launch established home offers myriad benefits but is an emotional undertaking, notes Stewart, who lives in his native Potomac and works for Llewellyn Realtors.
“It’s a challenge for most homeowners to see that you can let go of a home but not let go of the memories,” Stewart said. “Taking photographs and videotaping the home as it is are great tools for keeping memories alive.”
Many older homeowners are delighted to no longer have to handle the cleaning, maintenance and other chores associated with a large home, Stewart said. Paying less in real estate taxes and in heating and cooling costs are other pluses, he said. “That’s money that can be freed up for other things,” Stewart said.
Stewart said it’s typical for him to hear positive feedback from clients who sold the larger homes so that they could move into a smaller residence at Asbury Methodist Village.
“What I typically hear is that they could not be happier,” Stewart said, “To have gone through the process – it was challenging – but out of that came such freedom and great joy. That’s what I hear consistently.”