As we move into 2015, we see many positive attributes that will bode well for a stable, and rather strong, real estate environment this calendar year.
Libertyville, IL (PRWEB) February 13, 2015
Marian Schaffer, Principal and Founder of Southeast Discovery, a real estate consulting firm specializing in guiding Baby Boomers with their real estate needs in the two niche markets of retirement relocation and second homes in the Southeast region, recently cited six factors making 2015 a favorable year for Baby Boomers considering retiring and relocating.
“Over the past decade, we've seen both strong real estate markets as well as some of the most difficult. External factors always have an impact on real estate valuations, and as we move into 2015, we see many positive attributes that will bode well for a stable, and rather strong real estate environment this calendar year,” said Schaffer.
These six factors, according to Schaffer, are:
1. Historically low interest rates
2. 2015 is year 7 of a 20 year demographic movement; there is a very steady demand for real estate in the Southeast due to the predictable demographic of Baby Boomers retiring at the rate of 10,000 a day. It's projected about half of all Baby Boomers will look to relocate 3 hours or more from their current home.
3. Supply / inventory of quality real estate is available
4. Prices have increased from their lows from 2008 to 2011 but have not gone back to pricing levels seen in the peak years prior to 2008, which means there are still attractive valuations in today's marketplace
5. Master-planned communities owned by struggling developers, exacerbated by the economic downturn, have been purchased by well-capitalized entities. This has strengthened the financial wherewithal of lifestyle residential developments across the region, bringing peace of mind to prospective buyers as they choose communities for their retirement and second homes.
6. Real estate markets in northern states have improved, making it easier for Baby Boomers in this region to successfully sell their homes and relocate southward.
Statistics show there are 78 million Baby Boomers in the United States, and about 10,000 people retiring a day; studies indicate that about half plan to relocate in some form or another. Schaffer, who has over ten years’ of experience helping buyers actively looking for a retirement or second home in the Southeast find the right area and community to call home, noted that as many as 17 million of these Baby Boomers have their eyes on the Southeast region for relocation. This is for three main reasons: Boomers are seeking a milder climate, an overall lower cost of living and tax structure, and a slower, more enjoyable pace of life.
“Two things are likely not to change, and that's climate and taxes for those living in the northern states,” said Schaffer. “It is these two factors alone which will continue to funnel Baby Boomers to the Southeast region. Additionally, the back to back winter storms the Northeast has endured this winter will likely propel even more Boomers who were on the fence about whether or not to relocate, to decide now is the time to do so.”
About Southeast Discovery
Since 2004, Southeast Discovery has been a trusted resource for candid information and insight on communities, developments, and general real estate in the Southeast. Through its highly-ranked web portal, newsletter and blog and its one-on-one work with clients, Southeast Discovery helps buyers actively looking for a retirement or second home in the Southeast navigate the process of identifying the right area and community for their needs. To learn more, visit http://www.southeastdiscovery.com/.