ESTATE


Younger buyers flock to retirement properties
2009/04/15, 6:45 pm
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Baby boomers are seeing good deals and purchasing retirement properties, according to a survey of Coldwell Banker real estate professionals.

More than 50 percent of Coldwell Banker practitioners, who work in popular retirement havens, report increased interest and home purchases from retirees and near-retirees ages 60 and younger.

“Over the past couple of years, home prices have declined significantly in the majority of markets with traditional appeal to retirees,” said Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC. “Younger retirees are taking advantage of these desirable prices and turning the economic downturn into an opportunity.”

Other results of the online survey conducted in March include:

  • 53 percent of Coldwell Banker associates have observed an increase in retirees who plan to downsize from their primary residences into smaller properties.
  • 37 percent are seeing an increased number of retirees who own more than one property sell their primary residences to move to their secondary homes.
  • 23 percent are seeing more people buy different homes for retirement, or move into their previously purchased retirement properties earlier than expected.

Source: Coldwell Banker (04/14/2009)

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