Fairfax County Honors Firefighter On Retirement
Downsizing Baby Boomers Head to Urban Areas
Home prices in urban areas have not fallen by as much the last few years as they have in the suburbs. And prices in urban areas are recovering much faster too, according to John McLain of the Urban Land Institute. Why? Some say it’s because of new moving patterns among the baby-boomer generation. 
An increasing number of baby boomers are reportedly leaving their big homes in the suburbs and heading to urban areas for retirement, drawn by walkability, proximity to public transportation, diversity, and being closer to their children.
"[Boomers] want to buy something that's secure, and it's been pretty well demonstrated that suburban housing is not as secure an asset as anyone thought it was or that it used to be," McClain said.
Developers are taking note of the trend and beefing up construction in urban centers. Condos and apartments near downtown areas are popping up to accommodate more baby boomers.
The nation’s largest home builders are still investing in active-adult communities in the suburbs but confidence in the sector has been recovering at a much slower rate than the overall housing market, according to the National Association of Home Builders.
"The idea of living out in the suburbs, just with older people, has really disappeared," McClain says.
Source: “Boomers to Blame for Rising Urban Home Prices,” CNBC (April 13, 2013)
An increasing number of baby boomers are reportedly leaving their big homes in the suburbs and heading to urban areas for retirement, drawn by walkability, proximity to public transportation, diversity, and being closer to their children.
"[Boomers] want to buy something that's secure, and it's been pretty well demonstrated that suburban housing is not as secure an asset as anyone thought it was or that it used to be," McClain said.
Developers are taking note of the trend and beefing up construction in urban centers. Condos and apartments near downtown areas are popping up to accommodate more baby boomers.
The nation’s largest home builders are still investing in active-adult communities in the suburbs but confidence in the sector has been recovering at a much slower rate than the overall housing market, according to the National Association of Home Builders.
"The idea of living out in the suburbs, just with older people, has really disappeared," McClain says.
Source: “Boomers to Blame for Rising Urban Home Prices,” CNBC (April 13, 2013)
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Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
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Enjoying Winkler Botanical Preserve
We had a great time walking the trails.
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Don’t take chances with real estate.
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REDUCED: 7202 Churchill Rd, McLean
Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000 -
Good Shepherd Housing and Family Services
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…
A Growing Segment of Buyers: Female Baby Boomers
Single women make up the second largest segment of home purchases, with one out of every five homes purchases by a single woman, according to the National Association of REALTORS®. With more than 25 million single women over the age of 45 -- whether never married, divorced, or widowed -- it is making up a growing demographic, according to a recent report by FOX News.
“Single women see homes as more than just a place to live, it’s a symbol of success, and provides roots and security,” says author Jan Cullinance, author of the AARP book The Single Woman’s Guide to Retirement.
These single buyers tend to look for a home that is low-maintenance, with a sizable kitchen, walk-in closets, laundry near the master bedroom, and universal design principles to allow aging in place, Cullinance says.
Some builders are reportedly adding two master bedrooms to help accommodate the 40 percent of single women who choose to have non-romantic roommates, according to AARP.
Some single boomer women are also choosing cohousing communities, which are known as CCRCs or continuing care retirement communities. These communities allow you to progress from independent living to assisted living to skilled nursing care on the same campus, Cullinance says.
Source: “Single Female Boomers: Choose Your Castle Carefully,” FOX News (April 11, 2013)