Archive for August, 2009

Facebook Perfect for Baby Boomers, Even if Looking for Realtor!

Posted on 08/19/2009. Filed under: Baby Boomers | Tags: , , , , , , |

This is actually a second part to my musings about Sir Paul McCartney and his visionary (in my opinion) song, “When I’m 64”.  I am also a Baby Boomer and Realtor in Ft. Myers whose business is seeing more and more of my Baby Boomer contacts looking at property on the sunny coast of Florida.  They are using Facebook to search.

The lyrics I am referring to:

“drop me a line,Paul Mccartney 1
stating point of view.
Indicate precisely what you mean to say.
Yours sincerely wasting away.

Give me your answer,
fill in a form, –
mine for ever more.”

Facebook has become a media giant and fits perfectly into the Boomer lifestyle.  Facebook was originally designed as a way for college students to stay in touch.  As they graduated, they continued to stay in touch.  Later, it became a search tool for finding friends, neighbors and classmates that one lost touch with over the years.  More recently, business owners started networking with clients and prospects through this giant “Social” network.

Facebook is perfect for Baby Boomers.  It is very user friendly and easy to learn.  Baby Boomers now have time to search for old friends and school mates to wonder what became of them.  As they begin to migrate to sunny, Fort Myers, it is a way to stay in touch with family and the “old” neighborhood.  It is also a tool to find a Realtor who understands their new lifestyle needs.

Was my analogy a stretch?  Probably, but I feel the need to address my Baby Boomer peers.  If Sir Paul’s song brings joy and comfort to you, then stay in touch for more articles for Baby Boomers and the mass exodus that is being predicted.  Fort Myers is the perfect place “When I’m 64”!

Don’t be a stranger, comments are welcome!

Mike Cathell

Florida Future Realty, Inc          Email: MikeCathell@FloridaFutureAgents.com      Cell:  (239) 770-6250

On the web:  http://FLCoastRealtor.homestead.com

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Was Paul McCartney Predicting the Future of Baby Boomers?

Posted on 08/18/2009. Filed under: Baby Boomers | Tags: , , , , , , , , |

The other night I was listening to an “Oldies” station while doing more research on the group of which I am an integral part…Baby Boomers.  The song, “When I’m 64” by Sir Paul McCartney, was written and recorded by a very famous Baby Boomer who turned 64 a few years ago.  Did Sir McCartney know where our future was going when this song was recorded in 1966 on the Sargent Pepper’s Lonely Hearts Club Band album?

Lyrics (found at http://www.lyricsandsongs.com/song/179404.html):sargent pepper

“I could be handy
mending a fuse,
when your lights are gone.
You can knit a sweater by the fireside.
Sunday mornings go for a ride.

Doing the garden,
digging the weeds,
who could ask for more?”

Baby Boomers, a group I am part of, are hands-on people.  Many have had many ups and downs in their career and home life.  They are not afraid of doing repair and remodeling work to their homes.  Several of the Baby Boomer clients I am working with now are looking for “fixer-uppers” and plan on doing a lot of the work themselves.  They also are planning on a more simple life with their weekend trips or tending to their yards and gardens.  Yard space is on the top of their lists for a home feature.  We also spend time discussing where shopping and local attractions are located in relation to their search.

Another prediction of the future of Boomers are the lines:

“Every summer we can rent a cottage in the isle of Wight
if it’s not too dear.
we shall scrimp and save”

Many of these same Boomers are looking now to take advantage of the prices in SW Florida and using the house as a second or vacation home until retirement.  The Boomer generation was trained by their parents to save for their future.  For many, that future was a second home to relax and unwind.  Eventually, becoming their retirement residence.

Maybe I’m pushing the limits on the meaning of this lyrical song by one of my favorite performers!  Maybe not.  I want to believe Sir Paul, one of the most famous Baby Boomers, knew where we were heading.  If you think this is a stretch, wait till you read how I feel this song was foretelling the future of Baby Boomers and Facebook!

Mike Cathell

Florida Future Realty, Inc              Cell: (239) 770-6250      Email: MikeCathell@FloridaFutureAgents.com

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Great Time To Buy Florida (From FAR)

Posted on 08/04/2009. Filed under: Baby Boomers, Getting Ready to Buy? | Tags: , , , , , |

Used with permission from Florida Association of Realtors

Used with permission from Florida Association of Realtors

The upside of Florida real estate: 15 market positives

Let’s take a look at some of the opportunities for today and the future of Florida’s real estate market.

1. Great prices. Statewide, the existing-home median sales price was $161,200 in the fourth quarter of 2008; a year earlier, it was $216,600 for a decrease of 26 percent.

2. The time is right. Home sales volumes are rising again – a clear signal that today’s “buyers market” may be changing soon. In fourth quarter 2008, statewide sales of existing single-family homes were up 13 percent compared to the same period last year, according to FAR statistics.

3. High inventory levels. Conditions are ideal for buyers to find their dream home. Inventory is still plentiful in all price ranges. But as sales volumes increase, inventory levels are likely to shrink. That reality translates into this advice for buyers: Don’t wait too long.

4. Low mortgage rates. Mortgage rates are still at the lowest levels since the 1960s. Lower rates multiply a buyer’s financial power. Even half a percent can make a sizeable difference. For example, on a $200,000 home, half of 1 percent could save the homeowner about $815 a year. Buyers can get more home for the money, which is a perfect scenario for families looking to upsize.

5. Incentives to buy. Federal, state and local housing programs can help buyers make that big purchase. The U.S. Housing and Economic Recovery Act of 2009 includes an $8,000 tax credit for first-time buyers. President Obama’s 2009 economic stimulus package also identifies and offers incentives to help home buyers with mortgages. Talk to a local mortgage lender about state and federal incentive programs.

6. A long-term-growth state. Long-term economic and demographic trends continue to favor Florida. By 2010 economists forecast that Florida will be the third-most-populated state in the country. Florida’s population is expected to swell about 75 percent by 2030. Florida has been one of the 10 fastest-growing states in the U.S. for each of the past seven decades, and often the state has been in the top four, according to census data. Population growth will continue to provide a foundation for other economic development, such as new jobs and growing incomes.  All of these trends are positive indicators for real estate growth.

7. A migration magnet. Even with a slowdown in economic growth nationally, projections call for Florida’s population to return to more normal growth levels of about 317,000 a year between 2010 and 2020, similar to the 1980s and 1990s, said Stan Smith, director of the University of Florida’s Bureau of Economic and Business Research. That’s a lot of new buyers coming into the market.

8. A favored retirement destination. Over the long term, Florida stands to benefit from the migration of the aging Baby Boomer generation, roughly 80 million strong. Demographic studies show that the Sunshine State’s mild climate and outdoor amenities continue to make Florida a top retirement destination.

9. Business-friendly state. Florida has always been a business-friendly state – no state income taxes, plus incentives from local municipalities encourage businesses to set up shop here. Even with the current economic downturn nationwide, Florida leaders continue to keep business needs in the forefront of planning for the state’s future. The Milken Institute/Greenstreet Real Estate Partners ranked five Florida communities on its “Best Performing Cities Index 2008,” which ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. Florida’s business climate ranked fourth among executives and sixth overall on “Site Selection” magazine’s 2008 Top State Business Climate rankings.

10. Positive investment outlook. Every quarter, the University of Florida’s Bergstrom Center for Real Estate Studies conducts a survey of industry executives, market research economists, real estate scholars and other experts. In the third quarter 2008 survey, the investment outlook for various types of Florida properties remains steady. “People who have responded to our surveys have not lost their faith in Florida as a place to be and a place to invest,” said Dr. Wayne Archer, director. “We have 40 pages of comments from our respondents, and although the dominant theme is the disruption of financing, perhaps the second theme, as one person put it, is people being on the sidelines with full pads and helmets just waiting to jump back in.”

11. Homeownership has value. Realtors believe – and research supports that belief – that homeownership provides a variety of tangible and intangible benefits to the community and homeowners. Studies show that home equity is still the largest single source of household wealth, both for the individual homeowner and for homeowners as a group.

12. Greater sense of well-being. Owning a home leads to increased personal well-being. Research shows that people who own their own homes tend to show higher levels of personal esteem and life satisfaction, which in turn helps to make homeowners and their children more productive members of society.

13. Beneficial for kids. Studies show that children raised in homes owned by their families are more likely to stay in school and more likely to graduate high school. They’re also shown to have a higher lifetime annual income.

14. Community involvement. People who own homes have a strong financial stake in what happens to their community and tend to become more involved in community and civic affairs. Studies show that homeowners also interact more with their neighbors and communities. Compared to renters, homeowners join up to 41 percent more civic and/or nonprofessional organizations, such as the PTA or Scouts; vote in local elections 15 percent more often; enhance their neighborhoods with gardens 12 percent more often; attend church about 10 percent more often; and have a 3 percent greater chance of being interested in public affairs.

15. An unsurpassed lifestyle. Finally, let’s not forget the things that brought people to Florida in the first place, and will continue to attract them – beautiful beaches, fabulous weather and a friendly business climate, with no state income tax.  It’s no wonder that Florida’s combination of temperate climate, outstanding recreational amenities and economic opportunity has consistently put Florida in the top three of Harris Poll’s “Most Desirable Places to Live” survey.

Copyright 2009 Florida Association of Realtors ®

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