How Baby Boomers Are Redefining Retirement, Real Estate, and Vibrant Lifestyles
Previous generations described their post-retirement lives as the “golden years,” symbolizing a slower lifestyle appropriate for the elderly. But this description no longer applies to the current generation of seniors, baby boomers. By 2030, the 73 million baby boomers in the U.S. will be at retirement age, with substantial wealth. Despite the impending “silver tsunami,” baby boomers are defying traditional retirement norms. They’re living longer, remaining more active, and often delaying retirement while adapting their luxurious lifestyles to stay engaged in the workforce. As a result, baby boomers are poised to influence the luxury residential real estate market significantly for the foreseeable future. In fact, many are modifying their living arrangements to suit their evolving needs and preferences, as well as those of their families. In this Engel & Völkers Trend Report, we identify five key personas within the baby boomer generation that are significantly influencing luxury home ownership. These five foundational personas are redefining retirement, vibrant lifestyles, and the trajectory of the luxury real estate market in North America. To learn more, read our Engel & Völkers Trend Report.
Engel & Völkers Announces Pacific Northwest Expansion into University Place, WA
License partner Patience Colkitt and more than 30 real estate professionals join the luxury global real estate brand Engel & Völkers announced today its latest expansion into University Place, WA. The newly established Engel & Völkers Chambers Bay is led by license partner Patience Colkitt, a local real estate professional with over 20 years experience who has served as the designated broker of Windermere Real Estate’s Chambers Bay location since 2018. Elsa Borgen joins Colkitt as branch manager of the new venture. Colkitt and Borgen bring with them a diverse team of more than 30 real estate professionals with multiple designations, multilingual capabilities and specializations across senior living, military, investment properties, historical architecture, equestrian, and waterfront homes. “The Pacific Northwest has been an important growth region for Engel & Völkers,” said Anthony Hitt, president and CEO, Engel & Völkers Americas. “As a technology hub and home to some of the biggest and most influential global companies, this area of the United States continues to attract residents from all over the world. I look forward to Patience’s and Elsa’s contributions to our continued growth here as part of the Engel & Völkers brand.” Engel & Völkers Chambers Bay is located in University Place Town Center and serves home buyers and sellers in the markets of University Place, Fircrest, Gig Harbor, Puyallup, Lakewood, Steilacoom, Central Tacoma, Dupont, South Tacoma, Olympia, and Yelm. The area is known for its beautiful natural surroundings, including views of the Puget Sound and Mount Rainier, as well as Chambers Bay, a Scottish links-style golf course, as well as numerous parks and green spaces. Just a few minutes southwest of Tacoma and across the Narrows Bridge from downtown Gig Harbor, University Place offers residents easy access to the amenities of a larger city in a quiet suburban atmosphere with highly rated schools, low crime rates, and a strong sense of community. “The Engel & Völkers brand is perfectly positioned to succeed in our market,” said Colkitt. “Market shifts have created an environment where real estate professionals and consumers alike are seeking value, quality of service, and an elevated experience, all of which Engel & Völkers excels at delivering. For our advisors this means elevated training, world renowned branding and product, and for consumers, a luxury real estate experience at any price point.” To learn more visit chambersbay.evrealestate.com.
Is Decorating Your Home for Halloween a Trick or Treat for Potential Buyers?
As Halloween approaches, it’s tempting for homeowners—especially those with kids—to decorate and keep the festive spirit alive. But if you’re trying to sell your home, you might wonder if decorating could affect buyer interest. Here’s what to consider to strike the right balance. Create a Welcoming Vibe, Not a Haunted HouseA few tasteful decorations can make a home feel warm and inviting. Simple pumpkins on the porch or a seasonal wreath can evoke a sense of charm. But avoid elaborate setups that might distract buyers from seeing the home’s best features. Avoid Over-the-Top DecorSkip oversized inflatables, elaborate graveyards, or any props that could be seen as spooky or overwhelming. Buyers may find it hard to picture themselves in the home if it feels like a haunted attraction. Stick to neutral, friendly decorations instead. Showcase Home Details, Not HalloweenRemember, buyers want to see the home, not your decorating prowess. Highlight spaces, architectural features, and layout without cluttering rooms with too many props or displays. Keep Curb Appeal FirstFirst impressions are everything. If you choose outdoor decorations, keep them minimal so the exterior appeal remains. A well-kept yard with subtle, festive touches can make a positive impact without overshadowing the home’s natural beauty. Consider Your Target BuyerIf you’re in a family-friendly area, a little decor may resonate well. But if your audience is more mixed, keep it as neutral as possible to appeal to a broader range of potential buyers. By keeping decorations light and tasteful, you can enjoy the season and ensure your home remains appealing to prospective buyers.
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