Smith Crossing’s Real Estate Seminar To Offer Expert Advice

ORLAND PARK, IL — Senior Smith Living, a sponsor of Smith Crossing in Orland Park, is hosting a free virtual seminar on June 10 for those wishing to explore how the current real estate market affects living options for older adults. The event is expected to feature expert realtors to answer questions and give advice.

According to a news release, older adults considering a life-plan community like Smith Crossing in Orland Park, can benefit from learning about the booming suburban real estate market southwest of Chicago.

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“Interest rates are at an historic low, which puts many buyers into the market,” says Jean Braun of Baird & Warner in Orland Park. “Yet because inventory for single family homes is low, houses on the market are selling very quickly and for excellent prices.”

The virtual seminar will begin at 10 a.m. and it will feature Braun, along with Beverly area realtor Mary Fitzpatrick-Duleba, with Berkshire Hathaway HomeService Chicago.

The release states that participants will learn how demand currently outpaces supply with approximately half of all houses now selling above their asking price. According to S&P CoreLogic Case-Shiller, the home price index jumped 13.3 percent in March.

According to the release, the real estate market is soaring throughout the area. The median home value in Orland Park has increased 17.7 percent over the past year and in Will County, increased by 14.6 percent. On average, homes in the area are being snapped up in a remarkable 5 to 6 days.

Braun said that the strong sellers’ market yields favorable deals for sellers. Buyers work to make contracts as favorable as possible by offering flexibility on closing dates and more earnest money, as well as asking for fewer concessions at closing. Although these conditions benefit sellers, buying a home in this market can be difficult.

Fortunately, people moving into Smith Crossing, don’t have to worry about finding a more expensive home somewhere else. The velocity of home sales makes people nimble and Smith Crossing is ready immediately.

“Moving into Smith Crossing offers a flexible and more carefree lifestyle,” says Braun. “But now the benefits are even greater because homeowners can realize increased income from the sale of their home, without the disadvantages of buying in a competitive market.”

Like most continuing care retirement and life plan communities, Smith Crossing has many financial options, that include an entry fee as well as monthly charges that include dining, cleaning, utilities and activities.

“As a not-for-profit organization including independent living, assisted living, memory care and skilled nursing care, we offer older adults carefree living at all stages of life,” says Smith Crossing executive director Amanda Mauceri. “Older adults considering a life plan community, may find that market conditions make this the ideal time to make the move.”

To register for the event, click here.

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