Planning Ahead

What has been the effect on home sales of the pandemic in Pennsylvania, the real source of the need for virtual visitations? While various sources have indicated varying results, according to nbcphiladelphia. com, Brian X. McCrone, Nov. 29, 2020, “$1 Million Home Sales in Philly Suburbs Soar to Record High Amid Pandemic.” The headline is followed by the statement “It’s a seller’s market as buyers are paying high prices and the inventory is very low, according to a new report from one of the region’s top economists. The surge is fueled by demand for more space amid the coronavirus shut-in.”

According to the article, “not only did $1 million home sales set a record, it smashed the previous record by 50%.” The explanation given is that, with more people spending more time at home, those who can afford it want to move or to improve upon homes. Needless to say this is one unexpected turn from the pandemic.

Janet Colliton, Esq. is a Certified Elder Law Attorney and limits her practice to elder law, retirement and estate planning, Medicaid, Medicare, life care and special needs at 790 East Market St., Suite 250, West Chester, Pa., 19382, 610436-6674Call via Mitel , colliton@collitonlaw.com. She is a member of the National Academy of Elder Law Attorneys and, with Jeffrey Jones, CSA, cofounder of Life Transition Services LLC, a service for families with long term care needs. Tune in on Wednesdays at 4 p.m. to radio WCHE 1520, “50+ Planning Ahead,” with Janet Colliton, Colliton Elder Law Associates, and Phil McFadden, Home Instead Senior Care.