Baby Boomers Coming to the Plate

There are 79 million baby boomers, and this year, the oldest boomers turn 65. Their impact on the economy is enormous, so looking at the home buying trends of this group highlights interesting differences between older and younger boomers. A new survey from Coldwell Banker reveals that younger baby boomers are interested in purchasing a second home (34 percent) as compared to their older boomer counterparts (22 percent). Here are some highlights of what we learned:
Not surprisingly, 87 percent of 1,300 agents and Brokers polled agree that the economy is delaying baby boomers’ plans to sell their homes.
However, the desire to own one or more homes in this generation remains strong. 87 percent of the respondents have boomer-aged clients who already own or are looking to own and investment property.
80 percent of respondents said that older boomers (age 56-64) are more likely to want to downsize than younger boomers, but it’s not all about money: 49 percent said the primary reason boomers in general are downsizing is for a simpler lifestyle.
More than one-third (34 percent) of agents say younger baby boomers (ages 47-55) are interested in purchasing a second home, and 31 percent of respondents say they are working with younger boomers selling and looking for larger homes The Cherry Group, the Coconut Grove Realtors, hasn't seen any noticeable influx in single family home sales here with this demographic. All of our sales have been with International, all-cash buyers in their forties and fifties.

The Cherry Group, The Coconut Grove Realtors, Takes Another Great Grove Home Pending

The Cherry Group, The Coconut Grove Realtors, brought the international, all-cash buyer to it's listing at 3512 Bayshore Villas Drive. Asking $1,735,000, the three story single family home is the ultimate in European elegance and one of 25 homes in the gated enclave , Bayshore Villas. The Cherry Group at Coldwell Banker was selected by CitiGold, CitiBank's high equity client division, as its exclusive Realtors. Through that relationship and significant investments in international marketing, The Cherry Group has repeatedly brought cash buyers to its listings.

The Cherry Group, The Coconut Grove Realtors, Shares Its Latest Newsletter

Enjoy our Florida statewide and national HOUSING TRENDS NEWSLETTER http://thecherrygroup.housingtrendsenewsletter.com/ . Among other items you'll see is that in most markets, it still makes more sense to own than to rent. The Cherry Group, The Coconut Grove Realtors, always has the latest data to enable you to make informed decisions if you're selling here or buying anywhere in the United states.

Open House Wednesday A DUD

The Cherry Group, The Coconut Grove Realtors, reviewed the MLS for Broker single family home Open Houses in Coconut Grove and saw none. Every Wednesday Brokers open up their new listings so the Real Estate community can review the new inventory. We remember the day when 10 or 15 homes were open for previews, but not now. This is significant because the inventory for quality, well-priced homes is dwindling and virtually nothing is coming to market, driving values up by 1.5 percent on listed homes. There cannot be a better time to list in a market with modest inventory and mortgage rates in the basement.

Work Goes On After Closing with Foreign Nationals For The Cherry Group

The Cherry Group, The Coconut Grove Realtors, by necessity has created a concierge service for its Foreign National buyers. Most of our buyers lately have been from France, Mexico and South America and are buying major properties as second or third homes. Recently a buyer from France wired cash for the transaction and all was well until he attempted to have utilities turned on without having a US banking relationship. FP&L does not take foreign credit cards or accepts wires. To keep the house humming he put his deposit in our Paypal account and in turn, we deposited the money onto our credit card to pay FP&L a hefty deposit. We arranged for his pool and gardening services as well. He'll be in the States in 10 days and will establish a banking relationship at that time. Sylvia recently sold a beautiful Miami Beach condo to a Mexican family brought to us by CitiGold, Citibank's high equity division, to whom The Cherry Group is their exclusive Realtor. While the buyer was in Miami, Sylvia arranged for him to meet with furniture, closet and electroncs suppliers. The buyer returned to Mexico and Sylvia has invested almost a week at the condo overseeing the installation of all systems. When selecting a Realtor, you should consider three key factors; 1. Does he have vast experience in your neighborhood, like The Cherry Group in Coconut Grove? We have lived here for 20 years; 2. Does the Realtor have comprehensive market knowledge?; and 3. Is the Realtor tireless in providing service to its clients? It makes sense to hire a Realtor who has in-depth knowledge and experience working with buyers who account for the bulk of S. Florida sales- Foreign Nationals.

The Cherry Group, The Coconut Grove Realtors, Shows Latest Market Trends

Coconut Grove Realtors, The Cherry Group, sees very favorable housing market trends. Just click on the headline to see data.

MAGICAL MIAMI MODERN LISTED BY THE CHERRY GROUP, THE COCONUT GROVE REALTORS

Located at 3941 Crawford on a 10,500 square foot lot, this Zen-Like beauty is competitively listed for $1,275,000. If you like open spaces, high ceilings and one of the most beautiful chef's kitchens in the Grove, this is the one for you. With one of the largest and deepest pools in Miami, visible from most rooms, the outdoor spaces are vast and accomodating. Call Gary Hecht of The Cherry Group, The Coconut Grove Realtors, at 305.607.8360