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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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June 21, 2007

The Real Estate Adviser: Lots to learn about the over-55 homebuyers

By TOM KELLY
Special to the Journal

Some of the newer real estate sales models focus on the speed and resources of the Internet, hoping to lure the under-35 generation, sometimes known as the iPod Generation, with a high-tech approach to residential transactions. Significant “face time” is not a critical component.

However, a huge segment of the population still prefers high-touch to high-tech, specifically persons over the age of 65, already the largest group of property owners in the U.S. According to the Census Bureau, senior citizens in this country, persons 65 and older, have approximately $2 trillion in home equity. AARP estimates that 83 percent of seniors own their own homes and nearly eight million of them will move residences in the next two years.


 
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