Moderator: Welcome to this afternoon's Home Buyers discussion with Norman Dreyfuss. Norman, thank you for joining us today.

Norman Dreyfuss: Hi everyone. Thank you for joining in today's on-line discussion. We're here today to talk about active adult communities. I have been in the active adult market for over 18 years and know that a leisure-oriented community provides a perfect environment to enjoy the happiest and most productive years of your life. So with that in mind, what would you like to know?

Moderator: Who do you believe is right for the lifestyle Leisure World offers?

Norman Dreyfuss: Leisure World is about life-style. It works for people who want to change the way they live and enjoy their lives without the need to take care of the day-to-day burdens of owning a home and do it with people who are like themselves in age and attitude. These people are active adults that want to spend more time doing the things they love. Freedom from maintenance, no worries about security and a beautiful environment with over 85 clubs offering every activity you'd wish.

Silver Spring, MD: Mr. Dreyfuss,
We're a couple in our late fifties. Are we too "young" for Leisure World??

Norman Dreyfuss: If you noticed the answer to my previous question regarding lifestyle did not really relate to age. Fifty is not too young to change the priorities in your life.

DC: Could you elaborate on "The Leisure World concept has been proven throughout the nation for over thirty years?"

Norman Dreyfuss: The idea of an adult community where active seniors can run their activities and lifestyles with other people like themselves is a concept that started over 35 years ago in California in the first Leisure World - Laguna Hills.

Fairfax, VA: We would like to spend our retirement years in this area, as we have family in both Maryland and Virginia. What are the specific advantages of living in Leisure World of Maryland, and Leisure World of Virginia? Thank you!

Norman Dreyfuss: With regard to Leisure World of Maryland:

Since it's been in existence for over 35 years, there is an established community of over 4,000 households with over 85 existing clubs already in place operating out of two clubhouses. There is an established and mature community in which any new resident can be a part of. The location, because it was started over 35 years ago, is a lot closer to other established communities which have been in Montgomery County for similar periods of time.

On the Virginia Leisure World:

It is a relatively new community which has been in existence for three years and has approximately 350 residents. While the community is planned to eventually house over 3000 residents, it will probably take ten years to develop. While there is a brand new clubhouse and an active community director, it is still in the early stages. The location is also a little more rural than Leisure World of Maryland, but with the riverviews probably more beautiful.

The housing choices in both communities are substantially the same, so it boils down to locational preference and maturity of the community.

Bethesda, MD: Mr. Dreyfuss--

I have elderly parents -74 & 65 respectively- and they are possibly interested in planned communities. Here is the issue: my father is in very good health, very active and very mobile. My mother, on the other hand, has a slew of problems. She suffers from dementia -early stages-, diabetes, arthritis and recently battled a illness that took its toll. Due to this, she needs health maintenance at least on a part time basis. She swims, walks and upon initial meeting, is very cognant. But she does need medicine supervision and my father is not up to maintaining the tight schedule.

Does your community have support services for a couple with this variety of needs? I know that my father would be wonderfully happy in an active planned community but I'm not sure about the needs of my mother being met. What advice can you recommend?

Norman Dreyfuss: My parents were very much in the same boat several years ago, where my father needed assistance and my mother is quite active. We were able through the social worker on staff here at Leisure World to obtain in-home assistance. Living in Leisure World is very much about attitude. The psyche has to say "things are gonna be great and when a problem develops, we'll deal with it." versus "I know I'm going to have a problem and I want to be prepared 'should it happen'"

Our residents view the glass as half full versus half empty.

Bethesda, Maryland: We're considering a move to Leisure World. However, we recently had our kitchen and bathrooms re-modeled with state-of-the-art appliances, floor covering, and fixtures. What kind of similar quality can we expect to find in the units in Leisure World?

Norman Dreyfuss: While we offer a standard modern package of kitchen appliances and finishes, we offer an unlimited opportunity to modify your kitchen to your desires and offer corian and granite countertops, six different choices of cabinet, including cherry and maple. Along with optional upgraded appliances, fixtures, and faucets. Our attitude has been "tell us what you want, and we can do it."

Potomac Falls, VA: Who runs Leisure World?

Norman Dreyfuss: Leisure World is run by the residents. The general manager is hired by the residents who are represented in the community council. Each condo and homeowners association has an equal voice in the day-to-day operations of the community. This includes security and transportation, the medical center, activities at the clubhouse and operation of the golf course.

Arlington, VA: We have lived in our house for over 30 years, and are absolutely overwhelmed at the thought of getting it ready for sale. Does Leisure World provide any kind of support in the steps we would need to take to ready our house for sale??

Norman Dreyfuss: That is an often-asked question where we have established a solution. We not only offer free seminars on how to get your house ready for sale, but have a consultant that will assist you in packing up your house and getting ready for the move. While your concern is shared by almost every new purchaser, the consistent message we get from residents after the move is "I wish we had done this sooner."

alexandria,va: Will my retirement income of $40,000.00 be enough to afford your facility? John

Norman Dreyfuss: Your retirement income is certainly sufficient to easily take care of the condo fees and utilities. The specifics of how much money you'd be adding as a down payment and the amount of the mortgage would have to be considered to properly answer your question.

Burke, VA: Are these all units-apartments? Do you offer stand-alone townhouses-houses? Must everyone buy or is renting possible?

Norman Dreyfuss: Our new construction has been primarily high and low-rise. Currently, that is the only product we offer. With regard to rental opportunities, since Leisure World is an ownership community, any rental would be taken care of directly with unit owners and probably could be arranged through your realtor.

If you haven't looked, you should consider condominium living, since our residents have found that it gives them more freedom from maintenance and ability to travel without worrying about their homes. Being a private secured community is also a plus that should be considered.

Key Largo, Fla: Does Leisure World of Virginia have medical facilities?

Norman Dreyfuss: Leisure World of Virginia is on the same campus as Louden County Hospital, which offers special programs to our homeowners.

Cambridge, MA: Norman -- this is George Wollner. What can you do to help make sure that my Leisure World condos -Silver Spring- double in value over the next year or two?

Norman Dreyfuss: If you married someone independently wealthy, you would not have to ask that question.

Maryland: We would love to move to a retirement community, but, are concerned that our young grandchildren would not be welcomed visitors. Would they be allowed to use the Leisure World swimming pool, and Clubhouse facilities?

Norman Dreyfuss: Grandchildren are always welcomed and treasured guests and it seems that every one of our residents has at least one. They can generally use all of the facilities, including swimming pools and golf courses as guests of owners. At the end of their visit, however, they go back home to their parents.

Extended visits are not uncommon.

Leesburg, VA: How does an active adult community compare with the assisted care community? Advantages-disadvantages of each?

Norman Dreyfuss: Generally the residents are independent and do not require daily assistance or nursing attention. The residents are generally healthy, and while they have some health issues that come up from time to time, they receive in-home care or return to their homes after particular medical procedures or convalescent care. The attitude is "I'm healthy and I'm going home after I recover." However, our homes are handicapped accessible and can easily be modified to accomodate most disabilities, whether temporary or permanent.

Bethany, Delaware: What is a resident's initial financial responsibility, to live at Leisure World?

Norman Dreyfuss: It's like buying a home. You have to decide whether you wish to purchase with or without a mortgage, and how much you can afford each month. Homes are priced from approximately $130,000 to the $300s.

Alexandria, VA: What product features have you found to be most popular with the active adult community?

Norman Dreyfuss: Seniors are just like everybody else. They want bright, airey homes, modern and updated kitchens and baths. They like eat-in kitchens, plenty of storage, lots of cabinet space, places for their treasures and furniture from their house in a safe and secure environment.

Washington, DC: Mr. Dreyfuss,
Now that I'm 60 plus, I'm at an age and a stage, where I'm able to frequently travel.But,I'm always concerned about leaving an empty house. What does Leisure World offer in the way of a secure environment?

Norman Dreyfuss: I couldn't think of a more perfect question. Imagine what it would be like to close your door, have management take care of the building you live in, cleaning and security and come home after a long vacation and only need to catch up on the newspaper and read your mail. They will collect packages and take care of any maintenance requests you may have, even from where you are vacationing.

Arlington, Va: Please give a typical Condo Fee example, simply put - How much? Kris

Norman Dreyfuss: For an average size two-bedroom of approximately 1200 S.F., the condo fee is approximately $330. This fee includes cable TV, hot and cold water, all common area maintenance, security and tranportation and use of the club facilities, as well as trash collection.

Alexandria, VA: What is the difference between Assisted, Continuing and Nursing Care communities? And how do I decide which one is best for me?

Norman Dreyfuss: We are an active adult community. We are not one of the facilities of which you have asked. We are set up for independent living.

palm coast florida: What is the average age of your residents who live in the Maryland Leisure World?
Who manages the condos,townhouses, and other housing at Leisure World?

Norman Dreyfuss: The average age of new purchasers in both communities are in their mid-sixties. While we certainly have a number of purchasers in their fifties and some much older, that is the average.

Leisure World of Maryland is self managed. The community hires a general manager to take care of day-to-day activities. Leisure World of Virginia will follow the same model as it grows, but is currently managed by a professional management company.

In addition, each association has its own on-site property manager.

Washington, DC: What is the going rate in living in one of these communities -- the cheapest, to the highest -- and can one subsidize the cost of this by working as a receptionist or "greeter"

Norman Dreyfuss: One bedrooms start at $130s.

Two bedrooms are priced in the $180s to $230s

Three bedrooms up to 1700 S.F. run from $290,000 to $320,000.

These prices are approximately the same for Leisure World of Maryland and Leisure World of Virginia.

I know that Leisure World of Maryland has over 300 employees. We employ a number of community residents at both facilities on our staff. Satisfaction of our residents is our best selling feature.

Tysons Corner, VA: Am I correct in understanding that condo ownership can be purchased by anyone, and that the renting out of said condo-s- are at the owner's discretion?

Norman Dreyfuss: Yes. However, occupancy in either Leisure World community is age restricted. You must be at least 50 years of age in Maryland and at least 55 in Virginia.

Sterling, VA: Mr. Dreyfuss, have you chosen to live in either of your Leisure World communities? Why or why not?

Norman Dreyfuss: It's bad enough that my 87-year-old mother can walk to my office whenever she wishes, let alone live in the same community. I think I would feel I was back in high school and that I'd have to clean my room.

Norman Dreyfuss: Thank you for allowing me this time with you. We would be happy to provide you with more information either by phone or at our website: www.idigroup.com.

Phone numbers for Leisure World are

1-800/398-0085 for Maryland and
703/724-0100 for Virginia.

I hope you enjoyed this as much I did.

Moderator: Our thanks to Norman Dreyfuss and Leisure World of Maryland and Virginia. Join us tomorrow, same time, for a discussion with Darlene Williams and Tom Ptak of NVHomes about how much customization home buyers should have their builders do.