Are You As Old As Your Home?
1 Comment Published by Elaine Carlson April 3rd, 2008 in Real Estate Outlook, Senior Information. by Elaine Carlson 
Tuesday night, Barbara Walters had a fascinating ABC-TV Special entitled, “Live to be 150 – Can you do it?” There are more than 84,000 centenarians (100+) living in the United States with a projection of over 1,000,000 by the year 2050. Many are choosing to stay in their own homes. This is an important demographic that will change many industries, including real estate.
According the 2000 U.S. Census Bureau, here on the Palos Verdes Peninsula 18.7% of homeowners were over 65 versus 10.2% for Los Angeles County (statistics are for Rancho Palos Verdes). Bill McCord of McCord Realty Services has some interesting information on the Property Tax Postponement Program on his Seniors Tax Break 3-13-08 post.
The qualities the centenarians had in common were their attitude, their passion (for something), love of life, doing for others, ability to adapt, a spiritual life and commitment to family. What a good reminder for all of us!
The experts said that older age will represent power, money, wisdom and survival.
Great resource for your specific market. Also, applicable to the more mature clientele described, you might find useful an article re “Gift Tax Myths” on my blog http://www.mccordrealtyservices.com.