Increased Interest In 55 and Over Housing Market

Cheryl Boe — Mon, 08 Jun 2009 05:00:00 +0100

The National Association of Home Builders reports that builders catering to the 55 and up market are seeing a continued increase in traffic and that traffic during the first quarter of this year is up. The report came from the 55+Housing Market Index (55+HMI).

The story from the NAHB further states, “A strong and growing number of retirees and empty-nest households are interested in either downsizing or moving to a more user-friendly home – especially if it’s near their existing community,” said David Crowe, NAHB’s chief economist. “But the current market still presents significant obstacles to homeowners who need to sell an existing ho me before buying a more appropriate one. That situation is holding many mature consumers back from moving.”

The 55+ HMI is a diffusion index, derived from quarterly surveys of builders and developers designed to study builder sentiment on single-family housing and both multifamily condo and rental conditions. The survey asks builders to rank their perceptions of the current sales conditions, prospective buyer traffic, and market expectations for the next six months as “good,” “fair,” or “poor.” The responses are used to create a scale of 0 to 100, with a rating of 50 generally indicating that the number of positive responses is about the same as the number of negative responses.

Despite difficult market conditions, builders who specialize in this sector are seeing more prospective buyers coming through their doors according to the survey. Builders exhibited guarded optimism as they look forward six months, with the six-month expectation index number rising from 24 to 26 for single-family sales, and the condo sales index number rising from 17 to 20.

Friendswood Development Company, the Houston-based developer which pioneered the concept of master-planned communities in Houston and is also developing active adult communities focused on new-home buyers age 55 and up, has also seen an increase in traffic and sales in its Heritage at Towne Lake and BellaVita communities.

Heritage at Towne Lake, Houston’s newest active adult community, is located in Cypress, off US 29 0 at Barker Cypress. Earlier this year, the multi-million dollar Lodge clubhouse opened in Heritage at Towne Lake, offering residents a central location where they can socialize, enjoy some of their favorite hobbies, work out and enjoy the hot summer months around the resort style pool. Five decorated models are open daily in Heritage at Towne Lake, where Village Builders and Four Seasons by K. Hovnanian are open daily. New Homes are priced from the $180,000s to the $300,000s. The new Lodge features a long list of amenities including a fitness center, hobby rooms, ballroom, kitchen, library and office as well as billiards rooms and seating areas. The Lodge has become a popular place for community events and activities and is managed by a full-time activities director.

Village Builders New Patio Home Model in Fairfield

Greg Rivera — Thu, 01 Jan 2009 06:00:00 +0100

Village Builders' highly popular luxury low maintenance patio homes remain in high demand in Fairfield, where the builder recently opened its newest model in the newest section of the community. Village Builders features two collections of patio homes in Fairfield, created to appeal to buyers age 55 or better. Located on smaller home sites and requiring less overall maintenance, the homes have been very popular among buyers moving from within the northwest area as well as those relocating to Houston.

The Garden Collection of homes is priced from the $150,000s and the Verandas Collection is priced from the $190,000s.

The new one-story Huntington model is one of the20many designs of the Verandas Collection. With 2,329 square feet, the home has two large bedrooms and two full baths. Its many highlights include front porch leading into a foyer that features access to a private study and an open formal dining room. The home's central living area is its large family room that is open to the kitchen and breakfast room - all overlooking the expansive covered back porch and back yard. A large master bedroom includes its own elegant bath and room-size walk-in closet. The home's second bedroom has access to its own private courtyard and a full bath. The model showcases all of the thoughtful features and details found in all of Village Builders' homes in Fairfield such as ceramic tile flooring, ample storage, showers with seats, lowered rocker light switches, a craft/hobby area, a utility room with enough space for a second refrigerator, and numerous luxury details.

The model is now open daily.

Blog entries tagged Cypress

Increased Interest In 55 and Over Housing Market

Village Builders New Patio Home Model in Fairfield