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Seniors' Housing E-Review 01/07/05 Volume 46 - 1/7/2005 - Real Estate Home House Condo

Seniors' Housing E-Review 01/07/05   Volume 46

In This Issue...
 

Seniors Housing Courses, Events at Builders' Show

The NAHB Seniors Housing Council is offering countless opportunities for seniors housing professionals and those interested in this fastest-growing market at the 2005 International Builders' Show (IBS) in Orlando, FL starting on January 12.

Attendees can choose from 15 education programs, including "Forever Young: Customized Universal Design," "Active Adult Condos and Rentals: The Future Is Here," "David vs. Goliath: Active Adult Strategies for Entrepreneurial Builders" and "Tournament of Champions...Turning Prospects into Buyers."

Additional events include "Reinvention of the Building/Housing Market: Boomers and Beyond," a presentation by boomer expert Mark Goldstein, on Friday, January 14; "Designing for the Active Adult," an all-day session for builders on Wednesday, January 12; the Best of Seniors Housing Awards Presentation and Luncheon on Thursday, January 13; "The Boomers' Next Move: Marketing" Breakfast on Friday, January 14; and "Meet the Experts: Active Adult 55+ Housing" on Friday, January 14 and Saturday, January 15.

For a complete list of Seniors Housing Council activities, visit the NAHB website, or visit the Seniors Housing Council's Hospitality Suite in Room 107 of the Orange County Convention Center during the show.

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Take the Active Adult Bus Tour

Industry professionals are invited to attend the NAHB Seniors Housing Council's Active Adult Community Bus Tour on Saturday, January 15, during the 2005 International Builders' Show (IBS).

The bus tour will include visits to three communities in central Florida - Baldwin Park by the Baldwin Park Development Company in Orlando, an award-winning example of smart growth and infill development; and two communities by The St. Joe Company, Artisan Park in Celebration and Victoria Park in DeLand.

Attendees will tour models, clubhouses and community amenities. Experts from each community will discuss their design, development and marketing challenges.

The bus tour will take place from 8 a.m. to 4 p.m. The cost is $75 per person and reservations are required. To register online or for more information, read the bus tour flyer.

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Security is a Primary Concern of Seniors

Today's builders understand that "lifestyle" is the key to a successful active adult community. However, lifestyle is more than providing a range of recreational and social amenities. According to a recent article in Nation's Building News (Richard J. Brown; December 13, 2004), security also plays a pivotal role in the lifestyle equation, although builders often overlook or downplay its significance.

Retirement - or even the prospect of retirement - can make buyers anxious, as can the moving process. Moving into a secure environment gives active adults the peace of mind they are seeking.

Features that bolster a sense of security include a secure entrance, such as a gated entry with a 24-hour staffed guardhouse; home designs and neighborhood layouts where neighbors can see every home in their complex; community activities that foster a "neighborhood watch" frame of mind; roving security patrols that drive around the neighborhoods at night; and security systems.

For more detail on these features and how to implement them, read the complete article.

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Affluence, Amenities and Other Active Adult Trends to Note

Since 1996, Mature Living Choices magazine has annually surveyed and collected data from more than 100,000 active adults in order to chronicle various seniors' trends across the country. In doing so, the magazine has identified several key observations about active adults regarding their housing choices, and how this group differs from other homebuyers and from their predecessors.

According to Jane Marie O'Connor, the magazine's publisher and president of 55+ Marketing, active adults are more affluent and financially secure. As a result, they are willing to pay for comfort, and also expect more amenities and services to be part of their housing choices. They are better educated, more active and more inclined to move into a social environment shared by their age-group peers than other buyers.

And, unlike past retirees, they are moving to different parts of the country, not just the traditional Sun Belt states that have attracted seniors in the past. Active adult buyers may choose a state for various reasons; corporate relocations, a desire to be closer to their adult children or college/alma mater, downsizing or returning to family roots. Understanding the migration pattern of a particular state or area will help marketers better target potential buyers.

For more information, read the complete article.

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Assisted Living: A New Living Choice for the Elderly

According to a recent article on AgeNet.com (Rod Clark; January 5, 2004), assisted living builds a vital bridge between independent living and nursing home care.

Many seniors find themselves in need of help with simple chores such as cleaning, cooking, and getting dressed but do not need the 24-hour medical monitoring or comprehensive medical services provided by nursing homes - or the costs and limitations they present.

Residential Assisted Living facilities can provide a solution for these seniors. These facilities offer features such as private rooms, meals, housekeeping services, laundry, social activities, checkups and personal attention with dressing and bathing as needed - at about 70 percent of what a nursing home would cost.

Assisted living facilities work to foster independence rather than dependence. Older adults are encouraged to do as much for themselves as possible, which helps them maintain confidence and self-sufficiency.

For more information on assisted living, read the complete article.

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Demographic Trends to Shape Future U.S. Housing Markets

According to a recent article in the Chicago Tribune (John Handley; December 20, 2004) the "graying" of America will be one of the most powerful trends in shaping housing in the future. This trend will occur as the 78 million Baby Boomers age out of the labor market, propelling a boom in retirement housing.

However, it is a mistake to think that Boomers will ever retire, since two-thirds to 80 percent say they will work in retirement. Also, unlike their parents' generation, most Boomers will likely age in place rather than head to the Sun Belt.

Although an increasing number of age-restricted communities are springing up, one expert believes many Boomers are not sold on the concept. Boomers may think that age-restricted communities are "not hip enough," said Victor Regnier, professor of architecture and gerontology at the University of Southern California. "Boomers want something invented for them," Regnier added.

Non-white buyers will also play a significant role in the future of housing, as well as the children of Boomers, or Generation Y buyers. To learn more, read the complete article.

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Real Estate Trends to Focus on in 2005

The editors at RISMedia recently identified the top ten trends that will shape the residential real estate market in 2005. At the top of the list was "instant gratification," or an increasing demand for immediate response from industry professionals. Consumers will not be satisfied with waiting a few hours for a return phone call or email, much less a next-day response. New technology, such as listings and GPS directions that are delivered immediately to the consumer's cell phone will help keep customers impressed.

Aging in place will be another important trend. More Boomers and seniors will choose staying closer to home, family and friends over warm and sunny retirement locales. According to the National Association of Home Builders (NAHB), this will spark a trend toward modifying current homes to include features like first-floor living, raised electrical outlets, lever handles, improved lighting, no-step entrances and wider doors and hallways. These features are tops on remodelers' lists.

The top ten list also emphasizes the importance of "first page search engine results" for getting noticed by online shoppers, the increasing numbers of Latino buyers and increased homeownership in metro areas. To learn more, read the entire article.

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Aging Boomers Redefine 'Recreation'

Baby Boomers are changing the face of recreation in many ways beyond senior centers, according to a recent article in the Philadelphia Inquirer (Jack Cox; December 29, 2004).

Many of the activities now favored by Boomers emphasize sports that are easier on joints. Ski resorts are smoothing out the moguls on some of their tougher slopes and California's beaches are seeing more mature surfers using long boards, which make it easier to negotiate the rougher waves. Triathlons are becoming more popular as midlifers turn to cycling and swimming to lessen the stress on their legs and knees. Likewise, running is being supplanted by walking, tennis by cycling, and cross-country skiing by snowshoeing.

Travel agencies are seeing a surge in adventure tripping, especially among people aged 45 to 65, but the demand is for shorter, more frequent excursions.

To learn more, read the complete article.

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Raising (and Lowering) the Bar for Accessible Kitchens

Sales of elderly-friendly building products, such as home elevators and extra wide doors, are soaring, according to a recent article in the (Tennessee) Commercial Appeal (Christine Arpe Gang; January 1, 2005). Manufacturers are responding to Baby Boomers looking ahead to retirement with products that blend into traditional home decors.

One example, AD-AS, a manufacturer of accessible furniture in Boise, Id., offers sinks and cooktops that can be lowered from 36 inches to 28 inches at the push of a button. The design makes it possible for a person who uses a wheelchair to comfortably sit and work. When other family members use the equipment, they can raise them back to a comfortable height. The sinks and cooktops, which can be coordinated to match existing cabinets, cost about $1,100 each.

For more information, visit the AD-AS website or read the entire article (free subscription required).

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2005 ASA-NCOA Joint Conference Investigates "The Changing Face of Aging"

The nation's two largest professional associations in aging - the American Society on Aging (ASA) and the National Council on the Aging (NCOA) - will collaborate to offer the 2005 ASA-NCOA Joint Conference on March 10-13, 2005, in Philadelphia, Penn.

The conference will feature over 800 sessions covering a diverse range of topics in aging. ASA and NCOA will showcase innovative programs, foster policy discussion and advocacy, and share cutting-edge research findings. A variety of pre-conference events will also take place on March 9, 2005.

For more information, a conference schedule or to register, visit the conference website.

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Building for Boomers & Beyond: Seniors Housing Symposium 2005

The 2005 Seniors Housing Symposium, "Building for Boomers & Beyond," will take place on May 16-18, 2005, in Chantilly, Va., just outside Washington, DC.

The premier educational and networking event for industry professionals serving the burgeoning 50+ market will bring together builders, developers, architects, interior designers and merchandisers, land planners, sales and marketing professionals, and others to learn more about the fastest-growing segment of the housing market.

This year's symposium, "The Measure of Success," will provide attendees with the latest research on the 50+ market, give them the tools to better serve older consumers and help them be successful in their own local marketplace.

Nineteen education sessions will be offered, with separate tracks for design, finance, marketing and sales, research and trends, and seniors multifamily. Additionally, the Symposium will feature an exhibit hall where attendees can meet with product and service providers and others who cater to the mature market; a group of distinguished speakers, a wealth of networking opportunities, including a golf tournament; and tours of several of the metropolitan area's top active adult communities.

Advance registration for the Symposium will open soon. For more information or to register, visit the NAHB website.

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