Reach, Engage & Sell Affluent Buyers
Vacation & Second Home Markets Heating Up
Reported by Judith She’
In addition to retiree buyers, there is an increasing opportunity for builders/developers that cater to the vacation & second home market segment. Ideal-Living would like to thank one of our strategic partners, Judith She’ (Managing Editor for Bowden’s Market Barometer) for contributing the findings below.
The second home market segment soared above its previous (2006) peak level to an estimated 1.13 million sales last year, the highest since the National Association of Realtors (NAR) began surveying in 2003, and nearly doubling the combined total of the previous two years.
- In 2014, the 1.13 million sales represented a remarkable increase of 57.6% over the impressive 2013 activity and accounted for 21% of all transactions for the highest market share ever, and an eight point jump from 13% in 2013.
- As financing has loosened, the share of vacation homebuyers paying cash fell to 30% from 38% in 2013. Of buyers financing their purchase with a mortgage, nearly half (48%) of vacation homebuyers financed less than 70% of the purchase price.
- A majority (54%) of vacation homebuyers bought a single-family home, but the share of those purchasing a multi-family property grew from 34% in 2013 to 45% last year.
- Vacation homebuyers purchased a property that was further away from their primary residence — a median distance of 200 miles compared to 180 miles in 2013.
- Forty (40%) percent of vacation home buyers purchased in a beach area, 19%purchased in the country and
- 17% purchased in the mountains. The South saw the largest share of vacation homebuyers (46%), followed by the West (25%), the Northeast (15%) & the Midwest (14%).
For the full report please visit: bowdensmarketbarometer.com
Real Estate Rebound
Markets go through cycles and the good times are back for the real estate market! Primary home housing values have fully recovered in many major metros and vacation property sales were up 50+ percent last year. Low interest rates and an improved economy are supporting a strong housing market, plus a toppy stock market has prompted investors to diversify into real estate. Retirement ready baby boomers want relief from high taxes and frigid winters. They are selling their homes, and freeing up home equity to buy property in retirement destinations. Wealthy couples are seeking resort properties for the entire extended family to enjoy.
Ideal-Living buyers are taking full advantage of the favorable real estate market conditions and are on the move to find their ideal destination, lifestyle and home. Make the most of these good times. Contact I-L to find out how you can still engage readers and meet face-to-face with ideal-Living buyers this year.
Over 47,500 household moves confirmed. Relocation Program Channels Property Buyers
ideal-LIVING caters to affluent, mature buyers who are on the move and ready to purchase a vacation or retirement property. The ideal-LIVING relocation program makes it easy for buyers to find their ideal destination, life and home by providing comprehensive relocation information.
It’s the combined use of digital media, print and live events that reaches, engages and sells consumers. Most ideal-LIVING leads originate online or via ads in traditional media or referrals. They typically request our Choose Your Ideal Place relocation guide or ideal-LIVING magazine and sign up for our email, which allows us to keep in touch with them throughout the year.
Our publications and digital newsletters engage prospects with clients, prompting information requests about communities and discovery tours. Our 225k household database, digital media and print are all employed to promote our ideal-LIVING Resort & Retirement Expos, hosted in markets where demand is most robust. Many are in the wealthiest markets in the U. S.
The Expos are designed to make it easy for attendees to find and buy their ideal place. They include seminars on relocation, new home trends and preparing a home for sale, as well as Discovery Tours to experience exhibitor communities. The ideal-LIVING Relocation Program captures attention, informs, and motivates wealthy retirees to buy resort and retirement property.
Contact I-L to find out how we can help you, 800-736-0321
RPI Media, LLC / ideal-LIVING
Affluent Atlanta Residents — Escape to Ideal Living
Atlanta residents are seeking retirement, vacation and second homes to escape the metro traffic congestion.
Join exhibitors from many fine coastal & mountain communities at the ideal-LIVING Resort & Retirement Expo, to be hosted January 30-31, 2016.
The expo will be held at the Westin Atlanta Perimeter North. Its strategic location is proximate to some of the most affluent neighborhoods including Sandy Springs, Druid Hills and Dunwoody. Reach, Engage and Sell affluent
Atlanta residents in search of their ideal destination, lifestyle and home. Come meet your buyers!Call ideal-LIVING @ 800-736-0321 for more information.
ideal-LIVING magazine demographics* encompass the following:
- Avg. Age: 56 – Avg. Income: $142,008
- Avg. Net Worth: $937,936
- Avg. Home Value: $537,718
- Avg. Length of Residence: 18 yrs
* ideal-LIVING magazine distribution data appended using Experian. (3/2015)
Meet Fred Warren
Fred Warren came to ideal-Living last year after a 20 year career in the golf advertising industry with Golf Digest and Links Magazine. One of the original founders of Links, he spent 8 years as a Southeastern Manager prior to 10 years in Atlanta and New York with The New York Times Company and Golf Digest/Golf World.
Originally from the Philadelphia area, Fred lives in Hilton Head, SC, with his wife and two sons.
Tribute Homes’ Ideal Home Near Completion
ideal-LIVING magazine is pleased to announce that Tribute Homes is placing the finishing touches on a 2015 Ideal Home in Brunswick Forest near historic Wilmington, NC. The home will be featured in the fall issue of ideal-LIVING magazine and at the fall ideal-LIVING Resort & Retirement Expos.
2016 is already starting strong —
Bay Creek has been slated to release four ideal-LIVING homes in the winter.
Call ideal-LIVING @ 800-736-0321 for complete details on this exclusive promotion opportunity.
NCOA Confirms 47k I-L Database Moves
The ideal-LIVING (I-L) database contains over 225k households, many from the richest counties in the U. S. It’s made up primarily of wealthy mature couples seeking information on resort or retirement property. NCOA confirmed over 47k I-L households moves, in just the last three years. States receiving the most interstate migrants included: Florida (7,780), North Carolina (4,678), Virginia (4,049), South Carolina (3,204), California (1,935) and Georgia (1,829).
ideal-LIVING reaches, engages and sells to affluent buyers who are “on the move.” Do you want to know how many moved to your county? To get a relocation count for your county please call ideal-LIVING @ 800-736-0321.
Insights and Trends
Highlights from surveys conducted at ideal-LIVING Resort & Retirement Expos this past winter revealed the following preferences.
- Milder winter weather, lower income and property taxes were the leading factors prompting relocation search.
- 81% respondents were age 56 or older.
- 71% lived in current residence more than 16 years.
- 50% want a new custom home.
- 68% respondents plan to list their homes for sale within one year.
- 64% plan to buy a home in 2 years or less (24% within 12 months).
- 9 out of 10 respondents plan to visit communities (Spring-54%, Summer-62%, Fall-42%, Winter-25%)
To receive a copy of our Executive Summary, call ideal-LIVING @ 800-736-0321 for more information.
Top Ten States Buyers Migrated From
November 11-13, 2015
The AARC’s Annual Conference is a not to be missed event for anyone who works in retiree attraction. The conference blends together seasoned professionals in the retirement community industry. Whether it’s your first time or you’re an AARC regular, this conference will offer you unparalleled networking opportunities, innovative ideas from the people driving success and change in our industry.
Participation fees start as low as $375 for the three day event. Visit www.AARCConference.org to learn more.