Archive for June, 2009

Who’s Your Buyer? Florida Properties Kicking Butt!

Posted on 06/16/2009. Filed under: Baby Boomers | Tags: , , , , , , , |

Unless you live in a cave, every national newspaper, TV News station and national magazines are talking about the depression in Florida.  I want them to keep talking like that because properties are selling like crazy here.  In any market, knowing your customer and the dynamics of your market is crucial to your success.

There are several categories of buyers looking at property in SW Florida right now.  I will explore others in future blogs but today, I want to talk about Baby Boomers.  Again, in case your present home is a cave, the term Baby Boomers refers to the approximatemy 78 million Americans born between 1946 and 1964 (according to US Census Bureau).  This large group is probably the last generation to believe Florida is where you go when you retire.

Baby Boomers are taking advantage of the recent foreclosure crisis by looking strongly at the properties with deflated prices in SW Florida.  Homes that were selling for $250,000 during the Real Estate Boom are now available for $110,000.  Properties once appraised for over $1 million are now on the market for $450,000.  The average price of 3 bedroom/ 2 bathroom homes in parts of SW Florida is under $90,000.

Baby Boomers are looking forward to simplifying their retirement lives.  They are down-sizing from large homes in the Northeast and Central US to smaller, low maintenance homes in sunny climates.  It doesn’t get any more relaxed or simple than a concrete block/stucco house with tile floors 15 minutes from the beach, golf courses and shopping malls.  Condos are even simpler because you usually don’t take care of your landscaping, the management company does!

Even Baby Boomers not retiring for another few years are taking advantage of the values in the SW Florida market.  Houses are being purchased to use as yearly rentals, seasonal rentals or even better, a vacation home for the Baby Boomers and their families.

I also address Baby Boomers in my Active Rain Blog:  http://activerain.com/blogs/thegotoguy.

Mike Cathell, ePro (and Baby Boomer) Realtor @ Florida Future Realty, Inc

Cell:  (239) 770-6250         email:  MikeCathell@FloridaFutureAgents.com

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