And Arizona and Florida aren’t the only retirement-relocation hot spots these days. In fact, North and South Carolina now top the preferences of baby boomers who will be retiring in the next decade, according to a survey to be released from home builder Del Webb. “How times have changed when it comes to the golf course,” said Paul Cardis, chief executive of AVID Ratings Co., a survey research firm. His recommendation to builders: Eliminate it. Bike paths and walking trails are the new greens and fairways.

Blame it all on the economy. The recession has taken its toll not only on nest eggs but also on the traditional concept of a retirement home. That’s the message that attendees at the International Builders Show received in a number of presentations and seminars.

Downsizing is a trend that is taking hold among all housing consumers, but it is particularly evident among the 55-plus crowd that includes the older baby boomers. And that downsizing includes housing aspirations in retirement. While “warmer climate” was the reigning factor in choosing where to retire in the first boomer survey Del Webb conducted in 1996, today “cost of living” is the most important consideration on where to locate. Although Florida, Arizona and California remain Top 10 retirement destinations, the trend is giving other states a chance to draw even more retirees.

Despite the broadening of potential destinations, baby boomers’ desire to move in retirement has remained relatively stable over the years. Between 30-40% plan to move to a new home in retirement, about the same as in 1996, and half of those plan on moving to a new state.

What older buyers want in homes
What kind of houses will be in demand among those 55 and older? According to a consumer survey conducted by the National Association of Home Builders, the most important design features that 55-plus buyers want in their homes center on the practical:

-Washers and dryers in their units
-Storage space
-Windows that open easily
-Garage-door openers
-Easy-to-use thermostats
-First-floor master bedrooms
-Private patios
-Porches
-Attached garages
-Bigger bathrooms

A lot of the more popular features in new homes these days don’t appeal all that much to older buyers:
-Island work areas
-Separate showers
-Private toilet compartments
-Sun rooms
-Woodburning fireplaces
-Exercise rooms

But a number of items that home buyers don’t find to be of much interest are much more popular with older buyers:
-Bathroom aids such as grab bars
-Kitchen aids
-Light home-repair services
-Outdoor maintenance services
-An entrance without steps
-Accessible public transportation
-Wider doorways
-Nonslip flooring

Among technology features, older home buyers tend to act like younger buyers when it comes to the basics: Both groups have a preference for security systems, energy management, structured wiring and lighting controls. But older buyers had little use for home theaters, distributed audio or home automation, more-expensive items that younger buyers do like. “These older buyers are frugal, probably on a fixed income and so expensive tech items are not that big on their lists,” said Rose Quint, the NAHB assistant vice president for survey research.

The emphasis on services related to home and community is an important one that cuts across many age groups, said John Migliaccio, director of research at MetLife’s Mature Market Institute, which surveys consumers and builders on retirement issues. “Very telling is that the younger group of mature consumers reported enthusiastically that they want services like home maintenance and repair as part of their next home purchase, along with services usually connected to older householders, such as housekeeping, onsite health care and transportation,” he said.

According to Migliaccio, all of those items were ranked higher than the desire for social activities by this group-a surprise given that social activities and amenities have been thought to be valued highly by this group. He said the data support an emerging trend among builders to look for ways to partner with providers of such services to the residents of their active adult/lifestyle communities.

Migliaccio also predicted that universal design-which includes features such as wider hallways, lever-handled doors, roll-in showers and no-stair entries-will catch on as baby boomers watch their own parents age. “The boomers are going to see their own parents age without it and they won’t like what they see,” he said.

The 55-plus age group represents 38% of all U.S. households and is projected to rise every year to be almost 45% of households by 2019. And that group has high homeownership rates: while the U.S. as a whole has about a 67% ownership rate, those 55 to 74 own homes at an 80% clip. “Most buyers in this market are looking for an easy-living lifestyle. They would like easy access to services that will free up their time from maintenance both inside and outside their homes,” said Mike McGowan, a 50-plus builder from Binghamton, N.Y. and chairman of the National Association of Home Builder’s 50-Plus Housing Council. “This data tells builders that the homes they build for older active adults will remain attractive to the consumers who will be entering that market for the foreseeable future.”

(c) 2010, MarketWatch.com Inc.

Distributed by McClatchy-Tribune Information Services.

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“As more consumers begin to realize how much their home affects every aspect of their health, they are beginning to see the importance of improving its environmental quality with products to benefit their health and that of their family,” Lenahen said. “The new emphasis toward healthy living focuses around four main categories – air, water, odor/fumes and lighting.”

According to the U.S. Green Building Council, pollutants are often two to five times higher indoors than outdoors and this can significantly affect air in the home causing breathing problems and respiratory diseases. When it comes to the quality of the air, Lenahen said several products are available on the market that homeowners should incorporate into their home such as:

-Advanced allergy filters to control dust particles and pollutants
-Dehumidification devices to manage the humidity in the home
-Variable speed air handlers to maintain the circulation of air throughout the home and ventilation fans to introduce fresh air into the home while removing stale, humid air

Improving the water quality in a home is just as important as the air quality, Lenahen said. Several products are available to improve the quality and efficiency of a home’s water flow and usage, including:

-Carbon filter and reverse osmosis units to purify drinking water by removing particulate matter and harmful minerals
-Whole-house water softeners to remove calcium and other harmful minerals while providing added benefit to the home’s appliances and pluming fixtures. Water softeners also improve skin tone and texture by removing calcium, magnesium and iron from the water.
-Underground cisterns to collect rainwater from the gutter and downspouts to use for irrigating the lawn and landscapeHealthy home living is also improved by the use of low Volatile Organic Compound (VOC) materials, which emit lower levels of gasses into the home from everyday materials such as paints, sealants, cabinets and flooring materials. Lenahen said homeowners should use the lowest emitting VOC products for custom homebuilding and remodeling projects, thereby reducing the negative health impact the products may have on the occupants. Low VOC products will have labeling to help homeowners find the healthiest option.

Better lighting solutions can also foster healthier living. Traditional light fixtures typically include high wattage bulbs, which waste electricity while adding excessive heat into the home. Suggested improvements include:

-Decorative light fixtures with less wattage requirements and soft-light emitting globes
-Compact florescent light (CFL) bulbs or L.E.D. fixtures and bulbs for longer life usage
-Next generation skylights, such as Velux Sun Tunnel or Solatube, that bring natural light into the home, reducing the need for artificial light and energy consumption

“These are just some of the many changes that can be made to current homes or built into new homes that will greatly improve the quality of life and health of its occupants,” Lenahen said. “The more consumers become aware of the positive affects of healthy living within the home, the more products will enter the mainstream of standard building practices.”

Stay tuned for more helpful videos, or go to WAHomeowners.com to view all six videos.

Fall

Shawn Anderson
PC Home Loans
8730 Tallon Lane NE
Suite 202

Lacey, WA 98516

(360) 402-0308 (360) 402-0308

shawn@pchomeloans.us

www.ShawnAtPCHomeLoans.com

Based on activity among its member institutions, the Federal Reserve has released its predictions on which parts of the country are likely to see a rise, or a drop, in business.

The predictions come out of the Fed’s “Beige Book” breakdown of economic conditions in the 12 Federal Reserve Bank districts marked by cities. When the economic conditions show signs of increase, that’s usually followed by an increase in jobs.

Some highlights from the report:

*The New York, Cleveland, Kansas City, MO, and San Francisco regions are showing “signs of stabilization.”
*Chicago and St. Louis reported that the pace of economic decline appeared to be “moderating.”
*Boston, Philadelphia, Richmond, Atlanta and Dallas described activity as “slow,” “subdued” or “weak.”
*Minneapolis was the only region that indicated its downward slide in economic activity had worsened.

That’s the overall picture. The Fed also breaks down activity in economic sectors. For instance:

*Boston, Kansas City and San Francisco reported retail activity described as “modest increases or less negative.”
*Philadelphia, Atlanta, St. Louis, New York and Dallas regions reported “flat or mixed sales.” The remaining Fed regions described retail sales as “soft.”
*Auto sales were mixed; travel and tourism was down almost across the board.
*For manufacturing, Richmond, Chicago and Kansas City showed some improvement. St. Louis and Dallas said the rate of decline in factory activity is moderating. The Philadelphia and Minneapolis regions saw manufacturing activity drop, while the rest of the regions described activity at “low levels.”
*Residential real estate remained “soft” in most Fed regions, and commercial real estate dropped.

In a related story, the U.S. Department of Labor issued its report on what it calls the Employment Cost Index – essentially, the rise or fall in what it costs employers to provide wages and benefits.

DOL’s statistics for the 2nd quarter of ’09 show a rise of 0.3%, about the same as the figure for the 1st quarter. That measurement nearly matches the 0.2% figure estimated by economic forecaster Global Insight.