Alamo, California’s Timothy Powers reports that every single day, more than 10,000 baby boomers reach 65 years of age, according to Pew Research Center. Foreclosure expert Timothy Powers of Alamo, like other Americans, is taking note of this statistic and how it will affect a variety of things, including home buying in Alamo. Timothy Powers points out this number will have a significant impact on the housing market.
A twenty-year veteran of the real estate business, Timothy Powers has watched the Alamo housing market change in recent years. With an aging population, Timothy Powers advises Alamo real estate professionals to make applicable changes to the way they do business.
Baby boomers are looking for a certain kind of home as they head into retirement, Alamo resident Timothy Powers points out. Younger couples consider the needs of a growing family, Timothy Powers says, but Alamo retirees think about accessibility, safety, and simplicity. In fact, some Alamo builders are designing entire neighborhoods with the needs of this growing population segment in mind, Timothy Powers observes. This can include widened hallways for wheelchair or walker accessibility, higher toilets with handrails, and built-in shower benches.
“One of the most important things on a retiree’s list is a single-story home,” Timothy Powers of Alamo says, pointing out that stairs can present a challenge, especially if a retiree plans to stay in the house for the duration of his life.
Alamo’s Timothy Powers says multi-story homes boomed in the past decade. In 1973, three-fourths of the homes in the U.S. were single story. By 2006, Alamo-based Timothy Powers cites, that percentage had declined, with more than half of all homes being multi-story. However, Timothy Powers of Alamo points to a reverse in that downward trend in recent years, as single-story homes have seen resurgence.
According to Timothy Powers, Alamo retirees also value community. Neighborhoods designed specifically for seniors are popular with Alamo & California baby boomers, Timothy Powers reports, because seniors are surrounded by people their own age.
“Unfortunately, these communities are often 20-25% more expensive to live in than normal communities,” Alamo resident Timothy Powers says. And these communities are often scarce, especially in rural areas, according to Timothy Powers of Alamo.
Alamo’s Timothy Powers has worked in real estate for the past twenty years and currently specializes in foreclosure counseling. His business, East Bay Foreclosure Support, provides free counseling to those in need who qualify.
