Cardinal Pointe Announces Solution for 55+ Homeowners Coping with Troubled Housing Market

With the housing market sluggish and home values that have fallen across the Twin Cities, an Oakdale senior residential cooperative is introducing an innovative solution for 55+ homeowners looking to exit the homes they may have owned for years and move on to an easier, but still active, lifestyle.

Cardinal Pointe of Oakdale’s unique “Equity Swap” purchase program provides  homeowners who have been considering or have already made the decision to purchase at Cardinal Pointe — but have held off because they feel locked in by current market conditions — with dedicated and effective professional assistance in valuing, listing and aggressively marketing their existing home at the price they need or want. Should their home’s sale result in a reduction from the listed price, Cardinal Ponte will offset that loss by discounting the purchase price of their new home by an equal dollar amount, with some limitations on qualified homes. Prospective purchasers may use the Realtor of their choice, or work with Cardinal Pointe’s own Realtor-partners. In order for homes to qualify, they must be evaluated by Cardinal Pointe’s designated Realtor-partners.

According to Jack Kelly, Cardinal Pointe marketing director, “our ‘Equity Swap’ program addresses one of the primary concerns of seniors who are seeking to simplify their lives -- the potential loss of a portion of the equity they have built up in their homes if they sell in today’s troubled market. Our program effectively offsets any loss they might incur in a sale with an equivalent dollar for-dollar reduction in the selling price of a unit here at Cardinal Pointe.”

Cardinal Pointe of Oakdale is located at 1201 Hadley Avenue North.

For more information visit www.cardinalpointe.org