Tag Archives: real estate leaders

Villas-Models

Boomers looking to downsize, but keep favorite amenities

Mike D’Elena

Mike D’Elena

Mike Orr

Mike Orr

Steve Soriano

Steve Soriano

The residential real estate market is about to go “boom.”

According to AARP, for the next 18 years, Baby Boomers will be turning 65 at a rate of about 8,000 a day. That’s a lot of homeowners who may be thinking about unloading their large family homes.

“It is often misleading to generalize for a whole generation,” said Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business at Arizona State University. But Orr said some Baby Boomer trends that will impact the residential real estate industry are:

· Financing retirement by selling up and moving to a less expensive location.
· Downsizing from large family-oriented trophy homes to smaller low-maintenance homes.
· Continuing to work at least part time, often from home, so looking for high-speed Internet service.
· Looking for diverse cultural, educational and recreational opportunities and good restaurants.

Valley real estate leaders are prepared for the impact.

“Throughout the next decade, we will witness large numbers of Baby Boomers downsizing,” said Mike D’Elena, a Realtor at HomeSmart Elite Group. “The first wave of Boomers turned 65 in 2011. However, most who wanted to sell had negative equity and couldn’t. Since then, the Phoenix market has bounced back significantly so the wave is coming.”

Hoping to ride that wave, Valley-based Robson Resort Communities has developed a “lock and leave” product, allowing Boomers to downsize, while still enjoying the amenities they crave, such as golf, tennis, swimming and social clubs and events.

“With the Boomer demographic, builders must consider what amenities they will offer, now more than ever,” said Steve Soriano, CFO of Robson Communities. “Buyers are looking for added value to maintain an active and social lifestyle.”

One of the fastest-growing trends, the lock and leave concept allows residents to walk away and know their home is safe within a gated community and the grounds will be maintained while they’re gone.

“The lock and leave product appeals to Baby Boomers that seek a seasonal home without a lot of upkeep,” Soriano said. “The single-story, attached townhomes in the Villa Home Series showcase an open floor plan with landscaping and exterior maintenance covered by the Villas’ homeowner association. These homes give our resident more time to enjoy the weather, luxuries and the numerous activities that they come to enjoy in Arizona.”

rsz_1corporate

CoreNet Global To Host Corporate Real Estate 2020

Commercial real estate executives convene in a unique forum that will review and discuss CoreNet Global’s Corporate Real Estate 2020, a transformational research initiative envisioning the future of business and the changing nature of work.

This year-long project is a collection of global thought leadership of hundreds of corporate real estate leaders and their analysis of the current and future state of our industry. The forum will leverage CoreNet Global’s thought leadership to understand how this report applies to the Arizona corporate real estate market.

The event is scheduled for Nov. 8 at the Phoenix Country Club. Topics will include: key trends in location strategies, role of place, portfolio optimization and how technology tools are affecting the workplace.

Confirmed national speakers and panelists include:

>> Master of Ceremonies: Sunil Das, Director Workplace Transformation & Services, Intel;

>> Panel Moderator: Myra Smith, Mid Cap Strategy & Support Director, CBRE.

Panelists:

>> Stan Gibson, Senior Vice President, Wells Fargo;

>> John Schulze, Director of Global Real Estate, Allegis Group;

>> Stephanie Pater, Vice President, Americas, American Express GBS, Global Real Estate & Workplace Enablement;

>> Charlie Popeck, LEED BD+C, O+M, President, Green Ideas (Phoenix).

CoreNet Global will also present the CoreNet Global Arizona Chapter Corporate Excellence Award to Intel Corp., recognizing its work on behalf of, and in support of, the corporate real estate industry in Arizona.

The forum is sponsored by CBRE, Rockefeller Group Development Corporation, APS, Goodmans, DIRTT and the Greater Phoenix Economic Council.

Agenda:

2:30 p.m. – Registration and Networking

3-5 p.m. – Location Strategy, Role of Place, Portfolio Optimization, Technology Tools and the Workplace

5 p.m. – Award presentation and Networking reception

Registration: http://arizona.corenetglobal.org; $45/members $90/non-members.