Sean Sullivan San Francisco Real Estate New Construction Comments on the NAR Survey of Generation Trends in Real Estate
(PRWEB) July 14, 2013 -- Sean Sullivan San Francisco Real Estate New Construction and Senior Sales Leader with Climb Real Estate Group in San Francisco who was recently featured in a KRON4 news report, notes that the NAR Survey of Generation Trends in Real Estate(1) released in July which shows that Millenials are the most confident about their recent home purchases. The study found that Generation X Americans, those born between 1965 and 1979, were the largest group of recent home purchasers, who comprised 31 percent of recent purchases. Millennials, sometimes called Generation Y, those born between 1980 and 2000, were second at 28 percent while 18 percent were Younger Boomers, those born between 1955 and 1964; 14 percent were Older Boomers, Americans born between 1946 and 1954; and 10 percent were from the Silent Generation, those born between 1925 and 1945. “Homeownership is an investment in your future, and is how many younger American families begin to accumulate wealth,” said Paul Bishop, NAR vice president of research. “The oldest of the Millennial generation are now entering the years in which people typically buy a first home, and despite the recent downturn, homeownership still matters to them. The sheer size of the Millennial generation, the largest in history after baby boomers, is expected to give a powerful boost to long-run housing demand, though in the short-term mortgage accessibility and student debt repayment remain challenges.” Available now at ICON, these 1 and 2 bedroom homes feature contemporary, tasteful finishes located adjacent to shopping, transit, services, food and drink. Amazing views toward the top of the 6 story building. Represented for sale by Paragon Real Estate Group’s Suzanne Gregg and Jason Gorski.
Sullivan comments the study notes that older generations of home buyers would rather purchase more recently built homes, versus older homes. Millennials usually bought homes built in the mid-1980’s, nearly a decade older than the homes typically bought by the Silent Generation. Younger buyers prefer to stay closer to their previous residence, often staying within 10 miles, whereas older buyers tended to move farther away, typically more than 20 miles from their previous home. Younger buyers were more likely to buy in an urban or central city area than older buyers; 21 percent of Millennials bought a home in an urban location compared to only 13 percent of Older Boomer and Silent Generation buyers. The reason for buying a home also varies across the generations; younger buyers most often cited the desire to own a home of their own whereas older buyers wanted to be closer to family and friends. When it comes to factors influencing neighborhood choice, younger generations cited convenience to jobs, affordability of homes, and quality of the school district. Older generations placed higher importance on convenience to family and friends and healthcare facilities. When it comes to a home’s green features, younger buyers placed higher importance on commuting costs than older generations who placed higher importance on a home’s energy efficient features and living in an environmentally friendly community. Sean Sullivan specializes in San Francisco real estate new construction and more information about other new properties can be found on his website. The Century, a chevron shaped condominium building will open for sales late this summer. The five story structure has 1 and 2 bedroom floor plans at the crossroads of Duboce Triangle and Upper Market. The Penthouses feature commanding views and large private terraces. The neighborhood is an urban dwellers dream with parks, transit, bars, restaurants and stylish retail just downstairs. Developer represented for sale by Vanguard Properties’ Jean-Paul Samaha and Ed Deleski.
Sullivan says that it is important to realize when it comes to selling, the NAR reports the largest group of recent home sellers was from Generation X, comprising 30 percent of recent sales, followed by Younger Boomers (21 percent), Older Boomers (21 percent) and the Silent Generation (19 percent). Like buyers, older sellers tend to move greater distances, and are more likely than younger generations to move out of the state or region. While younger buyers typically moved to larger, higher priced homes, the data shows a clear trend of downsizing to smaller, less expensive homes among the Older Boomer and Silent Generations. Usually the older the seller the longer the tenure in the home, while Millennials had been in their previous home for a median of five years, Gen X-ers stayed 8 years, Younger Boomers owned their home for 11 years, Older Boomers stayed for 13 years, and the Silent Generation kept their previous home for 15 years. The reasons for selling a home also varied among the generations. Younger buyers were more likely to move to accommodate job relocation or desired to upgrade to a larger home. In comparison, older buyers were often looking for a smaller home due to retirement and because upkeep was too difficult due to health or financial limitations, or to be closer to family or friends. Linea condominiums are perhaps the most architecturally stunning residential development along Upper Market. Linea offers myriad views and floor plans to suit buyers who crave privacy or who want to be front-and-center in this dynamic location. Glass curtain wall construction allows for floor-to-ceiling windows in most homes. With the historic Art Deco San Francisco Mint and a new Whole Foods as neighbors, Linea graces an already remarkable location. Transit and the neighborhoods of Hayes Valley, Upper Market and Mid-Market are at your fingertips. Developer represented by Polaris Pacific.
About Sean Sullivan San Francisco Real Estate Agent
Sean Sullivan serves as Climb Real Estate Group’s Senior Sales Leader. With more than fifteen years in the real estate industry, Sullivan has sold over $600 million in residential real estate and built a reputation for customer-focused sales leadership in San Francisco. Sullivan has extensive experience in a variety of real estate transactions, both on the buyer’s and on the seller’s sides, and collaborates with attorneys, brokers, and the real estate community at large. His relationships with sellers, buyers and developers allows him to leverage market knowledge and experience in negotiating and surmounting challenges. As a Top Producer in 2010, 2011, and 2012, his reputation is built on putting clients first by being responsive, consultative, collaborative, ethical and honest. “Community is important to me” said Sullivan. He is a member of San Francisco Association of Realtors, California Association of Realtors and National Association of Realtors and active in SPUR (San Francisco Planning and Urban Research Association), SF SAFE, The National Trust for Historic Preservation, Jewish Vocational Services, SF Bicycle Coalition and Panhandle Park Stewards.
Television, radio, print and electronic media often reach out for Sullivan’s take on the local and national real estate market. He has appeared on television numerous times, been featured on the front page of The San Francisco Chronicle and featured on The Today Show, Fox News Business, The Daily Mail UK and LA Times. In 2012 I received the great honor of The Armed Forces Civilian Service Medal. Originally a Connecticut Yankee, he has lived in San Francisco for 16 years. His interests include family, urban planning, yoga, surfing, and gardening. He has also been fortunate to travel to over 30 countries. He currently resides in the Upper Haight. Sean Sullivan can be contacted at 415-215-0554, Sean(at)climbsf(dot)com. Please visit his website at: http://sfresource.com.
Contact Information
Sean Sullivan, Senior Sales Leader
Climb Real Estate Group
San Francisco, CA 415-215-0554
Sean(at)climbsf(dot)com
http://sfresource.com
Suzanne Bourgault, QResonate.net, http://qResonate.net, 1-866-558-2557, [email protected]
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