Buying a house in an adult community at this time is probably not a good idea for two reasons: First of all, in most areas in NJ, house prices are anticipated to continue to decline, but only for the remainder of this year, maybe into early 2010. But, adult communities in NJ are really taking the hit because retirees are leaving the state due to the high cost of living here, specifically taxes!!! They are going to places like North and South Carolina where they get a lot more bang for their buck. So, if you are concerned that if you buy now you may not be able to sell in the future, you may have accurate predictions.
But, if you move into a single family home or condo, it is not the same scenario. While prices are declining, they will level out and improve again.
As boomers start to downsize they are heading to adult communities for a little bit of leisure. Many of these properties have taken a nose dive from their current prices. for instance I have a property that was bought and built for over $300k and is now selling for 234K With luxuries like a resort. Its truly amazing what is out there right now. My experience in the adult sector is they are a safe group the have not made a move just yet but they will soon because you almost cannot resist the temptation of the pricing now. Seeing some buying at the shore now and will more than likely spark the adult developments also.
If you are looking to buy in an adult community and the time is right for you, so is the market!
I know with the current economic climate, their is some uncertainty concerning the real estate market. While one cannot predict the future with certainty, many experts in New Jersey expect home prices to level off in the beginning of 2010. We may not see a rise in prices right away, but historically real estate has been a sound investment over time. I
Specifically, many builders are still actively involved in developing adult communities, Toll Brothers and KHovnanian are two that come to mind. Additionally, many recent studies have shown that retiring baby boomers will have a strong influence in the real estate market and will be active buyers in adult communities.