Baby Boomers & Real Estate
July 3, 2007 by Perry Corneau · 2 Comments
Fifty-seven percent of America’s vacation homes are owned by baby boomers, born between 1946 and 1964. These baby boomers make up 26% of the nations population of approximately 302 million. The number of baby boomers celebrating their 55th birthday is climbing yearly from 2007 to its peak in 2016. We can expect this trend to have a positive impact on Sarasota real estate in the coming years. These statistics track well with what I have experienced with my clients. Many clients that I have dealt with in recent years have been boomers who have been making real estate investments in Sarasota to gain entry into the local market.
Many of these clients have expressed interest in rolling thier investments or second homes into a primary residence in Sarasota upon their retirement. While the recent real estate boom has been characterized by flippers buying property for quick resale, the next real estate boom will bring a new kind of flipper. Those flippers will be flipping the primary residence in the north to Florida and buying smaller second homes in the north. I have many clients from the Chicago area who have plans to make Sarasota their main place of residence but wish to maintain a presense in the windy city.
I am a Real Estate Broker - Associate with Signature Sotheby's International Realty. I have lived in Sarasota for most of my life and have been a real estate broker in Sarasota since 1988. I am blessed to have the love of my wife Opal and our two daughters, Katie and Victoria. I can be reached on my direct line at 941-650-4626. It would be wonderful to have the opportunity to work with you and earn your trust and friendship.
I fit your profile: a 53 year old northerner who, until about a year ago, was certain that I would purchase a home in Sarasota. However, the Flordia legislature has made it doubtful that I will purchase any time soon. Florida is not a very welcoming state for those of us who wish to purchase a home in Florida to get into the market, but intend to visit only occasionally until we retire. The tax system for non-homesteaders is punitive and makes an investment an iffy proposition