The newspaper and national real estate speakers are talking about the new trend in Real Estate. It was first called the “Age Wave” and now it is being referred to by experts as the “Senior Tsunami.” Undoubtedly, the next big shift in the real estate industry is going to be largely impacted by our aging population. And the first wave has already begun to sweep the nation. The first time buyer used to push our market but that buyer is having a hard time qualifying and buying.
“We (baby boomers) are the wealthiest consumer segment in the housing market. We have money to buy homes if we can sell our home at what we think it is worth, and that is also improving,” states a housing researcher, John Sheleimer.
FACTS:
• One in eight Americans are currently 65 years or older.
• In the next 20 years the senior population is projected to double in size.
• Aging seniors are projected to move out of an estimated 11.3 million housing units between 2010 and 2020.
• 65% of senior homeowners own their home free and clear of any liens.
While some senior adults will choose to age in place, a staggering number of them will have no choice but to move into housing that better suits their physical, financial, and emotional needs. When this flood of older generation homeowners begins to relocate, they and their caregivers (adult children) will be looking to their trusted advisor in Real Estate for guidance and expert advice, and who better than the Magee Team?
“We (baby boomers) are the wealthiest consumer segment in the housing market. We have money to buy homes if we can sell our home at what we think it is worth, and that is also improving,” states a housing researcher, John Sheleimer.
FACTS:
• One in eight Americans are currently 65 years or older.
• In the next 20 years the senior population is projected to double in size.
• Aging seniors are projected to move out of an estimated 11.3 million housing units between 2010 and 2020.
• 65% of senior homeowners own their home free and clear of any liens.
While some senior adults will choose to age in place, a staggering number of them will have no choice but to move into housing that better suits their physical, financial, and emotional needs. When this flood of older generation homeowners begins to relocate, they and their caregivers (adult children) will be looking to their trusted advisor in Real Estate for guidance and expert advice, and who better than the Magee Team?
Another trend is that the older buyers are less interested in the huge “retirement” communities that were developed in the past but are looking more for smaller age-restricted subdivisions close to traditional housing. The over 55 buyer still wants amenities such as walking trails, pools, clubhouses, fitness centers and not necessarily limited to the smaller square footage since they have so much “stuff” they don’t want to get rid of.
Some of us have been thinking about moving as we are in the situation that we have just mentioned. If so, we would be happy to have a consultation to see if this is the time or not to make that move.
Some of us have been thinking about moving as we are in the situation that we have just mentioned. If so, we would be happy to have a consultation to see if this is the time or not to make that move.
Give us a call.
Thanks,
Betty
Thanks,
Betty
No comments:
Post a Comment