ATLANTA--(Business Wire)--
Retirees have decided it`s time to make a move in the real estate market. With
both the stock market and home sales heading upward, Soleil Laurel Canyon
(www.soleillaurelcanyon.com/), an active adult community north of Atlanta, has
seen increased activity this fall.
"As the stock market made significant strides, interest from the 55+ market
picked up," says Evan Cramer, Development Manager for Active Lifestyles
Communities. "Prospective buyers are seeing their retirement portfolios improve.
With interest rates low, they`re realizing this is a good time to invest in
their next home."
Having lived in their houses longer, this demographic is also able to capture
home equity gains that can be reinvested in their retirement home. Last week`s
expansion of the Home Buyer`s Tax Credit is also likely to benefit this group.
"This combination of factors is prompting them to take action," continues
Cramer.
During October, Soleil, a 330-acre gated community in the North Georgia
mountains, has signed contracts for four homes to be built, and has three
existing homes under contract. Several more contracts are expected to be
finalized, and response from East Coast retirees at the Live South Home Show in
New York has been strong. Website traffic has also increased.
"It was also great to see Forbes name Atlanta to the top of America`s
Recession-Proof Cities to Retire In," adds Cramer.
Other retirement developments in North Georgia are reporting steady sales, as
are active adult communities in other parts of the country.
The Soleil Sales Gallery has seen interest in both existing new homes, several
of which are just under 2,000 square feet and listed in the mid-$200s, and new
construction where houses range up to 2,800 square feet.
About Soleil and ALC
Active Lifestyle Communities (ALC) is a partnership between Southeast Capital
Partners and Patrick Malloy Communities. The company purchased Soleil Laurel
Canyon in an all-cash transaction with the plan to invest another $28 million.
Residents of the neighborhood`s 230 homes enjoy exceptional recreational
amenities including a clubhouse with a heated indoor saline pool, billiards
parlor, gourmet teaching kitchen, fitness center and aerobics studio, library,
card rooms and an arts and crafts studio. A performing arts center, outdoor
amphitheatre, outdoor lagoon-style pool, tennis courts, walking trails,
greenhouse and neighboring golf course complete the resort-style environment. To
learn more: www.soleillaurelcanyon.com.
For Soleil
Lara Lowman, 404-226-6340
lara@mpressionspr.com
Copyright Business Wire 2009
