WWW.AZCENTRAL.COM
|| S U N D AY , M A R C H 2 2 , 2 015
|| PA G E R1
AZ Real Estate REACH US
|| TA M E R A T H O R N T O N , TA M E R A . T H O R N T O N @ A R I Z O N A R E P U B L I C . C O M || B U S I N E S S . A Z C E N T R A L . C O M
CATHERINE REAGOR REAL ESTATE
Expert says sales surge is coming
MAKING ROOM Baby Boomers value space, proximity to venues
Editor’s note: This is final article in a three-part series about what today’s typical buyer is seeking in a home. Today, we look at Baby Boomers, that post-World War II generation born between 1946 and 1965. In the past two weeks, we’ve also explored the must-haves of Millennials and Gen X’ers. ILLUSTRATION BY ALIYA MOOD/THE REPUBLIC
GREMLYN BRADLEY-WADDELL SPECIAL FOR THE REPUBLIC
Carol Lewis knows a lot about what Baby Boomers want in their homes and their lifestyles these days. The associate broker with DPR Realty in Mesa is herself a Boomer, that generation whose births occurred between 1946 and 1965, and temporarily bumped up the national birth rate after World War II. Although much of her time now is spent training others in her industry, Lewis is still very much in tune with the trends happening on the for-sale front. And she said that even in just the past 10 years or so, there have been significant changes in retiree’s wants when it comes to housing. “When I used to work in a retirement community, the first questions were, ‘Where are the hospitals, and where are the doctors’ offices?’ � she said. “Now, you really don’t hear that. My generation has eaten better, and we’re a little healthier.� See BOOMERS, Page R3
AND THINSTOCK
a real estate 3 part series TODAY
MILLENNIALS
GEN XERS
BABY BOOMERS
Metro Phoenix’s housing market is headed for a surge during the next few months, even though January sales figures released last week weren’t that exciting. The big question now is, who are the buyers? Housing expert Mike Orr meticulously tracks and tallies real-estate data for Arizona State University’s W.P. Carey School of Business. He called January’s home-sales activity “the lull before the storm.â€? That’s because at the end of February, he discovered a more than 30 percent jump in pending sales across the Valley. Housing market watchers are hopeful that Millennials and the boomerang buyers who lost houses to foreclosure during the crash are behind the boost to sales. Both groups of buyers could drive home prices and sales up for several years. A deeper look into Orr’s January housing analysis gives us some hints on what types of homebuyers are showing more interest in Phoenix. Âť Condominium sales climbed 6 percent in January from a year ago as single-family home sales fell 7 percent. This signals more younger buyers and likely empty nesters are in the market. Âť Home sales priced between $200,000 and $500,000 were almost flat from last year, but that’s good news. During the last half of 2014, sales in this key segment of the market were steadily falling. This trend could mean more families and first-timers are buying. Âť A bigger share of buyers paid cash for Phoenix-area houses. About 28 percent of home sales were cash deals in January, up from 25 percent in December. Investors, buying Valley homes to turn them into rentals, typically pay cash. But second-home buyers and people selling houses in more expensive California cities to buy in Arizona also are often cash buyers. Boomerang buyers who have saved money and can’t qualify for loans could also be part of this group. Âť Investors, people from out of state and those wanting a second home, are also buying more Phoenix homes. Investor deals accounted for 18.3 percent of Valley home sales in January, up from 15 percent in December. Out-of-state buyers accounted for 18.7 percent of all home sales, up from 17.4 percent in December. The number of California buyers grew from 3.7 perSee REAGOR, Page R2
Luxury Retirement Community for Active Adults Over 62 Come And Experience The Hospitality!
Call Us. NOW..
To make reservations to be our guest for complimentary lunch and tour.
For more information, see our ad inside!
LUXURY RETIREMENT COMMUNITY OF SUN CITY
623-933-1313 • www.wooddalevillage.com
$5
SCOTTSDALE | 5636 East Libby Street | Open Today 1–4PM
TUSCAN ELEGANCE. Knotty Alder doors, impressive fireplace, MLS# surround sound, high ceilings, Classy Closet built-ins, fresh Bedrooms paint, French exits and crown molding. Beautiful granite island Bath kitchen has a stainless appliance package and three rows of glazed Pool Maple cabinetry. Extras include a cook hood, pot filler, gas range, warming drawer and double wall ovens. Exit the dining room to Sq. Ft. a bistro patio with Ramada and fireplace. Luxurious master with Parking Jacuzzi tub. Two supporting en-suite bedrooms. Executive’s office Lot Size with custom built-ins. Ramada with BBQ, lush lawn and misting ZIP Code system out back. A view terrace overlooks the grand courtyard. Ultra private lot with no neighbor behind. McDowell Mountain Online Pics views. Gated community. – Joseph Callaway Price
Brought to you by Those Callaways Luxury Circle, (480) 596-5751
- 5247079 -5 -5 - No - 4,214 - 3-Car Garage - 8,750 Sq. Ft. - 85254 - ThoseCallaways.com - $899,000
see more inside
SCOTTSDALE | 8418 East Chama Road | OPEN BY APPOINTMENT
BILL TULL-DESIGNED CONTEMPORARY ADOBE. MLS# A stunning private oasis in North Scottsdale, this gorgeous Bedrooms contemporary adobe was designed by the renowned Bill Tull for the Bath current owner. Front: gated, lush desert trees/plantings, embraced Pool by undulating adobe wall. Inside: wealth of flagstone floors, ten adobe fireplaces. Living room w/French patio doors. Lounge/bar. Sq. Ft. Dining room w/huge windows. Kitchen w/wood-topped center ZIP Code island. Sun-kissed master bedroom w/wood-trimmed patio exits, sumptuous bath. Posh rear grounds: towering palm trees, mature Online Pics Price citrus and olive trees, barbecue bar/kitchen, shimmering pool, heated spa, dining pavilion, greenhouse, tennis court. Two guest houses. Visit tourfactory.com/1262359. Inside: details, directions.
Brought to you by Sandra Baldwin, Russ Lyon Sotheby’s International Realty
- 5201282 -5 - 5.5 - Yes - 5,328 - 85255 - BaldwinTeam.com - $1,995,000
see more inside $5