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" HouseTaylor " Baby Boomer & Home Buyers

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Sitting on the fence waiting to buy a home? …

Sitting on the fence waiting to buy a home?
Your overall family wealth needs you to buy NOW!
Your Community needs you to buy NOW!
Your State needs you to buy NOW!
Your Country needs you to buy NOW!
Fact! On average your home doubles in value every ten years!
Fact! On average a families home is 60% of the total wealth! Still think Renting is a good idea?

Published in: Real Estate
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  • Transcript

    • 1. Highlights from Baby Boomers and Real Estate: Today and Tomorrow (2006) The NATIONAL ASSOCIATION OF REALTORS® & Housing Baby the Boomer
    • 2. Boomer Homeownership 25% Own more than one property 78% Own their primary residence
    • 3. Homeownership is a good financial investment It’s important to pay off a home loan early I’m comfortable buying with a very small down payment It’s a good idea to buy the most expensive home I qualify for Attitudes about Housing Percentage Agreeing 96% 65% 58% 13%
    • 4. Boomers & REALTORS ® 60% used a real-estate agent for their last home purchase. 79% used a real-estate agent for the last home they sold.
    • 5. Professional Service: Not Hand-Holding!
      • Buyers and sellers both want and expect service from their REALTORS®
      • They’re not looking for emotional support
      • They don’t want information they can find themselves
    • 6. Boomers & REALTORS ® Services Buyers Want Percentage of respondents rating the service as the most important agent activity. Represent my interests and coordinate with other parties Manage the closing process, from start to finish Explain all contracts, forms and agreements Negotiate on my behalf 23% 14% 14% 11%
    • 7. Boomers & REALTORS ® Services Buyers Rate as Least Important Percentage of respondents rating the service as the most important agent activity. Follow-up after closing Provide support through emotional decisions Help finding a mortgage lender Provide regular feedback and progress reports Determine housing affordability 1% 1% 3% 3% 5%
    • 8. Boomers & REALTORS ® Services Sellers Want Percentage of respondents rating the service as the most important agent activity. Help establishing the right asking price Represent my interests and coordinate with other parties Show my home to interested parties 17% 14% 12%
    • 9. Boomers & REALTORS ® Services Sellers Rate as Least Important Percentage of respondents rating the service as the most important agent activity. Follow-up after closing Provide virtual tours to market my home Provide insights about competing properties Provide regular feedback and progress reports Provide advice on critical issues 1% 1% 3% 3% 5%
    • 10. Retirement:  It's nice to get out of the rat race, but you have to learn to get along with less cheese.  ~Gene Perret, Humorist
    • 11. Age at Retirement When Boomers Expect to Quit Working More than half expect to be working into their 70s.
    • 12. Asset Diversification Importance for Retirement Investments Asset diversification is important to Boomers 79% Important Not Important
    • 13. Real Estate Investments Share of Net Worth excluding Primary Residence 16% 7% 77% More Than 10% of Net Worth 1% to 10% of Net Worth Zip, Nil, Nada, Nothing Share of Respondents
    • 14.
      • Typical boomers have $100,000 in equity in their home
      • For boomers earning at least $100,000/year – that median equity jumps to $150,000
      • REALTORS® -- let’s sell them a house!
      A Golden Opportunity
    • 15. Preferred Amenities in Retirement Features Boomers Will Look For 38% 38% 38% 37% 36% Lower Cost of Living Near Family Access to Quality Health Care Better Climate Near Body of Water Share of Respondents
    • 16. Boomers have a strong attachment to homeownership Boomers want professional services from REALTORS® Boomers are likely to keep working into their retirement years Adding investment real estate to their financial assets could provide Boomers with additional financial security The Bottom Line
    • 17. Get More! $50 for Members $125 for Non-Members 1-800-874-6500 www.realtor.org/newresearch Our Profile on Baby Boomers has more analysis and 137 charts and exhibits.

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