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Surveys find surprises in senior homeowners
Recent surveys of home sellers and buyers 50 and older revealed some surprising insights into this growing segment of the population. For instance, nearly half of surveyed seniors made the Internet part of their home-selling process, while more than two-thirds of them used the Internet in their home search.
This represents a dramatic 50 percent increase over previous data, clearly demonstrating that people born before the Digital Age are far more computer-savvy than they’re sometimes given credit for.
Even more surprising may be results showing that the majority of surveyed seniors did not relocate to some distant destination but instead kept close to home, with more than half staying within 12 miles of their old neighborhood.
Such trends show that seniors are like younger consumers in many ways. But selling and buying behaviors within the demographic itself vary greatly, such as the differences between younger and older seniors. While younger seniors (50 to 64) wanted a better neighborhood, twice as many older seniors (65 and older) moved for the quality of community services. Price was the No. 1 feature for nearly every older senior (95 percent), but only 38 percent of younger seniors even mentioned the cost of their new home in their responses.
This statistical mix combined with unique housing options open to seniors -- such as age-restricted developments, age-in-place designs and assisted-living communities -- can make selling and buying a home a daunting task for seniors and their real estate agents.
With the financial considerations of retirement further complicating the situation, one key for consumers may be finding a real estate agent who understands the common and distinct characteristics of individual senior buyers and sellers. With such insight, the agent can better help make any sale or purchase go smoothly.
Seniors looking for an agent who will understand what makes their needs unique can find one by consulting the Seniors Real Estate Specialist (SRES) Council. An affiliate of the National Association of Realtors, the council awards the SRES designation to Realtors who have successfully completed an education program to help them counsel senior buyers and sellers through the major financial and lifestyle transitions involved in relocating, refinancing, selling and purchasing a home.
-- Courtesy of NAPSI
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