If the national real estate market behaved as Coldwell Banker brokers say their baby boomer clients do, a recovery would be in full force.

According to a survey of 1,333 agents conducted by the national brokerage and released today, 87 percent of Coldwell Banker agents reported having at least one baby boomer client who owns or is looking to own a second investment property. Twenty-two percent of respondents said at least half of their clients in the demographic own or covet such a property.

“Our survey clearly indicates that those boomers who are financially secure are actively seeking to buy their retirement home, or a second home, and they are taking advantage of the opportunities and value available in today’s market,” said Coldwell Banker CEO Jim Gillespie. – Adam Fusfeld
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Picky, picky, picky! Are today’s first-time homebuyers passing up great deals because they insist on flawless “move-in ready” houses requiring little or no changes — even at the starter-home price levels where shoppers traditionally have been willing to factor future fix-ups and renovations into their offers? Or are they simply reflecting market realities? They see record inventories of houses sitting unsold, they’ve got plenty to choose from and they may not have the money, time or inclination to do fix-ups after making the purchase. [more]

Make way for Grandma and Grandpa — and maybe a couple cousins, too. More families are looking for homes that can accommodate several relatives from across generational lines, according to a survey conducted by Coldwell Banker Real Estate. The survey, which culled responses from 2,360 Coldwell Banker sales agents, found that 37 percent of employees saw a noticeable uptick in the number of buyers looking for so-called “multi-generational homes.” The economic downturn is cited as a major reason for more family members bunking together, according to Diann Patton, a consumer specialist with Coldwell Banker, who said that the financial savings can extend beyond real estate. “With two or three generations living under one roof, families often experience more flexible schedules, quality time with one another and can better juggle childcare and eldercare,” Patton said. TRD

L+M Development Partners’ new affordable
housing complex in Brownsville will celebrate its opening with a ribbon cutting today. Also, Coldwell
Banker Real Estate launched an interactive billboard in Times Square
that displays home listings. And at the Rialto condo in Williamsburg, buyers now only have to
put 10 percent down. Click here for the full version. TRD [more]