With home values falling over the past few years, some buyers are seeing a great opportunity to buy their retirement home now instead of waiting until they retire years later.

For example, in one of the largest retirement areas in the nation — Century Village in Boca Raton, Fla. — the average age of a new home buyer has dropped from the mid-70s to the low 60s in the last year.  Charlie Rocque, 56, may not be ready for retirement but he already bought his retirement apartment there for $20,000 (though it was valued at around $75,000).

“People are looking at this in terms of their long term future,” Ben Schachter with Century Village Real Estate Inc. told CNBC. “They recognize that with the time value of money they are better off investing now, taking advantage of 20, 40, $60,000 price points, because if they look back just a half a decade ago, prices were 3-4 times what they are now. They’re looking at the market as it increases, as the economy is strengthening, and they want to buy now while it’s the best opportunity to do so.”

Younger investors also may even rent out the property until they need it years later for their own retirement.

Source: “Younger Buyers Jumping Into Retirement Real Estate,” CNBC (March 25, 2013)

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROAD McLean, VA 22101 6 Bedrooms 5.5 Bathrooms 6,752 SF $1,695,000 Related

    Read More

  • [FWD: The Empire Strikes Back Pictures]

    We played a game at the office this Sunday. Lots of fun. Sincerely, Will Nesbitt Principal Broker   Nesbitt RealtyAlexandria VA licensed in the Commonwealth of Virginia and the State of Maryland 703 765 0300 (main) 571 237 7902 (direct)888 783 6391 (fax) ——– Original Message ——– Subject: The Empire Strikes Back Pictures From: [email protected]

    Read More

  • Good Shepherd Housing and Family Services

    Fairfax County
    Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…

    Read More

  • Mistake 4: Acting too picky.

    We help buyers and sellers.
    While you should narrow down what you want and you list features most important to you, don’t be so inflexible that you make it impossible to find a home. If you’re too picky, you may have to continue renting when you could own a home. Be willing to compromise on some of the less important…

    Read More

Real Estate

Will Nesbitt

View posts by Will Nesbitt
Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.