View
223
Download
0
Category
Tags:
Preview:
DESCRIPTION
Q12015
Citation preview
ConsumerInsights
The Plus Side of 55+
DesignLens
Delayed Marriage=Delayed Homeownership
Top 50 MPCs of 2014
Consumer research in the real estate world is often overlooked because it is difficult and expensive to conduct. However, understanding what home buyers value is critical, given the market climate and competitive field today. Our 3rd annual Consumer Insights couples our timely market research with qualitative findings from our proprietary “What Do You Call Home?” survey to provide better information on consumer marketing strategies for your communities.
What Do You Call Home?
E-MAIL SURVEYOver 100 questions and several hundred variables regarding shopper’s opinions on their next home and community.
PARTNERSBuilders, developers, and Zillow joined in the effort nationwide by sending an e-mail to their prospective shoppers.
NATIONWIDE SAMPLEOver 22,000 responses are collected across the nation annually. We have access to over 50,000 total responses in our past survey database.
ConsumerInsights
What Do You Call Home?
Insight Customized
GEOGRAPHICWe understand that geography affects consumer preferences. Responses can roll up to a national or regional level or drilled down to the MSA or submarket level.
PRICE POINTWe understand that affordability is different for each new home shopper. Respondents
were asked their desired price point and payment in their next home; our report
can be filtered accordingly.
GENERATIONS & LIFESTAGEWe understand that lifestage impacts purchasing behaviors. Reports are available specifically for 55+ and the millennial buyers.
Consumer Insights is a “focus-forward” study so that real estate practitioners can use this information to make strategic decisions moving forward. The information can be customized to meet your needs.
to Increase Your Bottom Line
HOMEKitchenBathroomPrivate outdoor livingGreat spaceArchitectural styleYard preferencesSpecifications & Technology
INTERIOR STYLEInterior style preferencesExterior style preferencesInterior specificationsTextureColor
COMMUNITYCommunity amenitiesLifestyle
ATTITUDESHow they liveHow they shopWhat they value
Fantastic Insight On:
To learn more about how you can better develop your next community, marketing strategy, or new product design, please contact:
MOLLIE CARMICHAELPrincipal
mcarmichael@realestateconsulting.com (949) 870-1214
The Plus Side of 55+by Chris Porter, Chief Demographer
It is time to get serious about listening to consumers and designing for the aging Baby Boomer population—the largest share of home shoppers today—who are looking for their next home opportunity as their children leave the nest and they consider retirement.
42% of the 22,000 home shoppers who took our 2014 Consumer Insights survey are 55+ and shared with us that:
• Home design will make them move (it is the third-most-important motivator for moving after location and price), but 55% say they can’t find what they are looking for.
• 43% want to downsize, with most wanting 1,500–1,999 square feet.
• Among those without children*:
ŵ 46% want to live in a community that is more multigenerational
ŵ 33% want an age-restricted community
ŵ 21% want an age-targeted community
Sample Newsletter
The opportunities offered by the 55+ population are huge. They represent:
• 25% of the total population
• 50%+ of current homeowners (likely with plenty of equity) and have a homeownership rate in excess of 75%
• 30%+ of total home transactions
All of these rates are only getting bigger.
The challenge is that the 55+ homeowner population tends to stay in place—less than 3% move per year, although it is higher for the younger portion of this cohort. Great design will make them move.
*Preference for age-restricted and age-targeted communties varies widely by geography.
Sample Newsletter Delayed Marriage EqualsDelayed Homeownershipby Mollie Carmichael, Principal
Sample Newsletter
decades, but homeownership rates for cohabitating couples are much lower than rates for married couples.
• The addition of children makes owning a home almost a necessity, given the need for yards, toys, education, and social circles.
• Children moving out often results in lifestyle changes, including different social circles, home size, and floor plan needs. Locational preferences also begin to shift.
Our Consumer Insights survey of 22,000+ new home shoppers, coupled with our Housing Demand Model by Lifestage and Price Point, shows just how much housing preferences have changed. These preferences can vary widely by geography and price point, and our team can help you make sense of how these changing dynamics are affecting your market.
The share of 25-- 29 year-olds who are married is down by almost 48% for men and 43% for women from 1970. This single fact is one of the biggest game changers in the housing industry.
What impact does this change in marital status mean for your housing strategies? It is huge! The housing market is unquestionably fueled by life stage changes, particularly the change of marital status and the addition (and subtraction) of children. These changes significantly affect where consumers want to live and what kind of home and community they will choose. For example:
• Singles are more likely to rent and live in locations that are closer to entertainment and employment, and these areas are seeing more demand today than they have historically.
• Marriage usually ignites the desire to own a home with a variety of locational and housing choices depending on income and family present.
• Cohabitation has certainly been on the rise in recent
will consider a smaller backyard if it is designed as a great outdoor space.
80%
of prospective shoppers say the design is one of the most important factors motivating them to buy a new home.
81%
ConsumerInsights
ConsumerInsights
of all shoppers have pets.
67% ConsumerInsights
Look out for multi-generational living! 39% plan on an elderly parent and 35% plan on a child over 18 living with them with their next purchase.
ConsumerInsights
BoomersBorn 1946 to 1964
Gen XBorn 1965 to 1979
Gen YBorn 1980 to 2000
ConsumerInsights
Top AmenitiesCheck out what more than 20,000 new home shoppers shared as the amenities they most wanted in their next community. Below are the top 25 preferences by generation. The major differences relate to the presence of children for the younger generations.
23
Village Square Recreational Center Children’s Park
Grocery Store Close By Grocery Store Close ByGrocery Store Close By
Fitness CenterWalking Trails Walking Trails
Fitness Center Fitness Center Walking Trails
Restaurants Close By Restaurants Close ByRestaurants Close By
Organized On-Site Programming Shaded AreasCommunity-Wide events
Yoga/Pilates Studio Running Dog Park
RunningCommunity Intranet with Events,
Clubs, Bulletin Boards, etcLake, Pond, Stream, and Water
Elements, $50/Month
Organized On-Site Programming
Community Intranet with Events, Clubs, Bulletin Boards, etc
Children’s Water/Play Area
Community-Wide events Shaded Areas Community-Wide events
Shopping ShoppingVillage Square
Wi-Fi Internet Access in Public Areas
Shopping Recreational Center
Community High-Speed Internet
Recreational Center Village Square
Community High-Speed Internet
Wi-Fi Internet Access in Public Areas
Wi-Fi Internet Access in Public Areas
Shaded Areas Children’s Park Community High-Speed Internet
Look for our future trends in what consumers want in communities and homes by generation.
We believe it starts with your consumers.
Today’s shoppers rated Service & Retail as the most important
amenities for their next community
purchase.
*
All three generations ranked Fitness
Center and Walking Trails as top
amenities above retail shopping.
*
Community-Wide events rank above
pools, parks, and other typical amenities. Events can be much less
expensive too!
*
A Dog Park is among the top park choices. It scored highest for Gen
Y, followed by the Boomers.
*
Wi-Fi Internet Access and a
Community Intranet with Events, Clubs,
etc. are more important to the Boomers than
they are toGen X and Gen Y.
*
54
78
6
109
1112131415
1
BoomersBorn 1946 to 1964
Gen XBorn 1965 to 1979
Gen YBorn 1980 to 2000
Library Live Music in the Park Live Music in the Park
Cycling Movies in the ParkAdult-only Pool (18+)
Community Intranet with Events, Clubs, Bulletin Boards, etcAmphitheater Outdoors Dog Park
Art Shows in the Park Basketball Courts Lake, Pond, Stream, and Water Elements, $50/Month
Hiking Trails with Historical Markers of the Area
Lake, Pond, Stream, and Water Elements, $50/MonthOpen Space, $50/Month
WATER PARKSADVENTURE REC CENTERARTS &ENTERTAINMENTNATURE EVENTS SERVICE &
RETAILSPECIAL
AMENITIES
Let us help! We can help optimize your community and home design for better homes, better places, and better profit.
Please contact Mollie Carmichael at mcarmichael@realestateconsulting.com or (949) 870-1214.
Events and experiences, as a whole, rank above “hard amenities”
like a pool.
*
Consumer research in the real estate world is often overlooked because it is difficult and expensive to conduct. However, understanding what home buyers value is critical, given the market climate and competitive field today. Our 3rd annual Consumer Insights report couples our timely market research with qualitative findings from our proprietary “What Do You Call Home?” survey to provide better information on consumer marketing strategies for your communities.
WWW.REALESTATECONSULTING.COM
Live Music in the Park Yoga/Pilates Studio Sport Fields
Hiking Trails with Historical Markers of the Area
Cycling Yoga/Pilates Studio
Dog Park Children’s Water/Play Area Tennis Courts
Organized On-Site ProgrammingTennis CourtsHiking Trails with Historical
Markers of the Area
Sport Fields Basketball CourtsRemote Guard Gate, $50/month
16171819202122232425
New Home Shoppers
BoomersBorn 1946 to 1964
ConsumerInsights
Generations
79%have 2 or fewer
people in household.
34%have 2 or fewer
people in household.
LIFE STAGE
10%66%
SingleFamily
14%21%
SingleFamily
Highest percentage of college graduates at 45%
9%44%
SingleFamily
56%have 2 or fewer
people in household.
47%have a down payment of
30% or greater—thanks to their home equity. This generation is looking for the lowest monthly
payment but not necessarily the lowest price. Boomer payments are lower than Gen Y because
they are moving down and putting down equity. Their larger down
payments help! This consumer will rely heavily on equity—particularly
for the consumer that needs to travel further out to purchase or “cash out” for financial security.
will rely on savings for their down payment. They are the most budget-conscious of all
shopping groups.
They are almost 2x more likely to get their down payment from
their family than Gen X.
47%of Boomers Gen X
are paying the highest monthly payments...not the Boomers.
They also have the highest incomes.
PAYMENT, PRICE, AND DOWN PAYMENT
of Gen Y
19% will pay $2,500+/month
52% want a home under $2,500/month
26% are looking for a home priced above $400k (varies by geography)
28% will pay $2,500+/month
45% want a home under $2,500/month
37% are looking for a home priced above $400k (varies by geography)
18% will pay $2,500+/month
69% want a home under $2,500/month
33% are looking for a home priced above $400k (varies by geography)
WWW.REALESTATECONSULTING.COM
New Home Shoppers
Gen XBorn 1965 to 1979
New Home Shoppers
Gen YBorn 1980 to 2000
Let’s look at who’s shopping out there today for a new home! Who are they? What do they want? This infographic is part of a new series of studies by JBREC on generational differences, based on responses from 22,000 new home shoppers. This Generations infographic details each generation’s life stage and behavior in regards to purchasing a home. Visit www.realestateconsulting.com and let us help your team improve your home or community strategies by better understanding your consumers by specific location.
Top kitchen features include large islands, walk-in pantries, and high-tech appliances.
will use either their tablet or mobile phone while shopping for their next home.
Over 62%
ConsumerInsights
ConsumerInsights
avav
Insight Inspire Innovate
DesignLens can help you make smarter decisions and save your company money by providing you:
An invaluable resource of product information. We act as your scout, preselecting projects nationwide based on input from industry representatives familiar with great design throughout the country. With the guided walk-through you can find out what new, innovative or historical projects are out there and why they’re noteworthy, which ones are must-sees and which you feel like you’ve already visited through the DesignLens website.
Availability anywhere you have an internet connection: at your desk, at home, at a client or vendor’s office. It’s full-time access to inspiration.
Great Ideas by taking you on a tour with industry experts through some of the country’s freshest new residential production homes and master planned communities, providing beautiful images taken by our photographer, John Bare. You can also explore some classic historical neighborhoods, as well as new innovations and trends in home building.
Thousands of images are on our site with links to floor plans, site plans, project profiles and builder/consultant contact.
Unlike print magazines or other web based sites, DesignLens gives you 30-100 images of each project. That’s 300-1,000 images every month for an in-depth tour of some industry highlights. Our archive contains over a 100,000 images, floor plans, site plans, project information and contacts.
www.DESIGNLENS.com
av
www.DESIGNLENS.com
Good to Great?
Ordinary Product Extra ordinary Product
Average Profit Outstanding Profit
Auto-Pilot Purposeful Planning
Scattered Results Focused Results
Management Leadership
Rear View Looking Forward
Reactive Proactive
Builder Driven Consumer Driven
Complacent Visionary
Fractured Communities Synergistic Communities
From To
DesignLens is intended to be a tool to
help you move from good to great in 2015.
14
avav
www.DESIGNLENS.com
Insight Inspire Innovate
Online Image Tours of Great Communities
Established in 2001, DesignLens is the building industry's largest online library of photo tours for:
• Model Homes• Master Planned Communities• Historical Neighborhoods• Town/Commercial Centers
The 800+ communities and developments depicted on DesignLens have been specifically chosen for their innovations in architecture, design, land planning and/or historical significance.
A Photo Library of Inspiring Designs
The more than 100,000 images stored in the DesignLens archives are searchable by:
• Architectural Styles• Housing Types• Exterior Features• Interior Details• Green Building• Square Footages and House Widths• Regions, and more
Along with the photographs, DesignLens offers floor plans, site plans and written analyses that all help profile some of the country's finest examples of residential and commercial development.
A Resource that Gives You a Competitive Edge
DesignLens also provides communication tools that let you share this valuable information with clients and colleagues, including:
• Create slideshows for design boards and presentations
• Share images and ideas with clients from remote locations
• Make folders of your favorite images
15
av
www.DESIGNLENS.com
av
Become a SubscriberFor more information or to start you subscription, contact Isabell Kerins
ikerins@realestateconsulting.com
(949) 870-1241
1 1
2 2
3 5
4 6
5 4
6 10
7 11
8 15
9t 20
9t 9
11 7
12 8
13t 3
13t 22
15 N/A
16 N/A
17 12
18 38
19 14
20 16
21 13
22 18
23 24
24 19
25 21
2,601 3,419
1,431 1,416
851 838
719 791
609 841
585 600
508 570
500 468
493 372
493 618
487 726
468 649
451 854
451 360
444 235
442 193
437 566
425 245
419 475
417 457
411 515
410 515
385 341
374 373
368 361
-24%
1%
2%
-9%
-28%
-3%
-11%
7%
33%
-20%
-33%
-28%
-47%
25%
89%
129%
-23%
73%
-12%
-9%
-20%
-20%
13%
0%
2%
THE VILLAGES The Villages, FL (Central FL)
THE IRVINE RANCH1 Orange County, CA
NOCATEE Jacksonville, FL
RIVERSTONE Houston, TX
MOUNTAIN’S EDGE Las Vegas, NV
ALAMO RANCH2 San Antonio, TX
STAPLETON Denver, CO
ALIANA Houston, TX
VALENCIA Los Angeles, CA
LAKEWOOD RANCH Sarasota, FL
PROVIDENCE Las Vegas, NV
THE WOODLANDS Houston, TX
CINCO RANCH Houston, TX
RANCHO MISSION VIEJO Orange County, CA
COLLEGE PARK Riverside-San Bernadino, CA
WILDWOOD AT NORTHPOINTE Houston, TX
SUMMERLIN Las Vegas, NV
PAVILION PARK AT GREAT PARK Orange County, CA
LAKE NONA Orlando, FL
WOODFOREST Houston, TX
CROSS CREEK RANCH Houston, TX
CANYON LAKES WEST Houston,TX
CANE BAY PLANTATION Charleston, SC
BRAMBLETON Washington, DC
FIRETHORNE Houston, TX
Villages of Lake Sumter, LLC
The Irvine Company
The PARC Group
Johnson Development Corp.
Focus Property Group
Galo Properties
Forest City Enterprises
Aliana Development Company
Five Point Communities/Newhall Land
Schroeder-Manatee Ranch, Inc.
Focus Property Group
The Woodlands Development Company
Newland Communities
Rancho Mission Viejo, LLC
Standard Pacific Homes/Lennar Homes , LLC
Friendswood Development Company
The Howard Hughes Corporation
Five Point Communities
Tavistock Group
Johnson Development Corp.
Johnson Development Corp.
Land Tejas Company
Gramling Brothers Real Estate & Development
Brambleton Group LLC
Jefferson Development Company
2014
20142013
Rank Increased 1Irvine Ranch includes Cypress Village, Portola Springs, Stonegate, Woodbury, and Orchard Hills.
Rank Declined 2Estimate
2013
Project Name and Location
Rankings Developer Net Sales YOY%∆
Bold Multiple MPCs on list
50TopMaster-Planned Communities of 2014
-24%
1%
2%
-9%
-28%
-3%
-11%
7%
33%
-20%
-33%
-28%
-47%
25%
89%
129%
-23%
73%
-12%
-9%
-20%
-20%
13%
0%
2%
YOY%∆
26 N/A
27 17
28t N/A
28t 23
30 28t
31 49
32 11
33 N/A
34 43t
35 30
36 N/A
37 N/A
38t N/A
38t 27
40 50
41 N/A
42 41t
43 28t
44 37
45 N/A
46 32
47 N/A
48 N/A
49 N/A
50 46t
366 268
359 445
337 330
337 353
329 299
327 224
319 321
309 0
301 235
296 290
293 253
288 262
276 197
276 305
263 220
254 315
250 241
244 304
241 249
239 215
238 263
233 143
231 179
227 173
226 230
37%
-19%
2%
-5%
10%
46%
-1%
N/A
28%
2%
16%
10%
40%
-10%
20%
-19%
4%
-20%
-3%
11%
-10%
63%
29%
31%
-2%
TOWNELAKE Houston, TX
SIENNA PLANTATION Houston, TX
PHILLIPS CREEK RANCH Dallas, TX
DAYBREAK Salt Lake City, UT
VALENCIA RESERVE/COVE West Palm Beach, FL
OAKHURST AT KINGWOOD Houston, TX
EAGLE SPRINGS Houston, TX
BAKER RANCH Orange County, CA
WESTRIDGE Dallas, TX
MOUNTAIN HOUSE Stockton, CA
GREEN VALLEY RANCH Denver, CO
VIERA Palm Bay-Melbourne, FL
GRAND MISSION ESTATES Houston, TX
CRYSTAL FALLS Austin, TX
HIGHLANDS RANCH Denver, CO
OTAY RANCH San Diego, CA
ST. CHARLES Washington, DC
SHADOW CREEK RANCH Houston, TX
TERAVISTA Austin, TX
TREVISO BAY Naples, FL
THE MEADOWS Denver, CO
POSITANO2 East Bay, CA
DEL SUR San Diego, CA
AVE MARIA Naples, FL
RIVERSTONE Naples, FL
Caldwell Companies
Johnson Development Corp.
Republic Property Group
Kennecott Land
GL Homes
Friendswood Development Company
Newland Communities
Shea Homes/Toll Brothers
DR Horton
Shea Homes
Oakwood Homes
The Viera Company
Friendswood Development Company
Lookout Development Group
Shea Homes
McMillin Land Development/Baldwin & Sons
St. Charles Companies
Shadow Creek Ranch Development
Newland Communities
Lennar Homes, LLC
Castle Rock Development Co.
Braddock and Logan
Standard Pacific Homes
Barron Collier Companies
GL Homes
2014
20142013 2013
Project Name and Location
Rankings Developer Net Sales YOY%∆
SOURCE: John Burns Real Estate Consulting, LLC (January 2015)
TOTAL 22,238 23,112 -4%
Mollie is a Principal in our custom consulting practice. For over 25 years, Mollie has helped companies increase profits dramatically by understanding the market and consumer first. She is passionate about guiding strategic planning decisions with consumer and market based methodologies in order to optimize financial results. Mollie has led research efforts throughout the country on masterplan communities and individual neighborhood design where companies. In addition to managing various consulting assignments, Mollie leads our firm’s Consumer Insights research to help our clients understand what consumers value in their homes and communities.
Prior to joining the company, Mollie served as a Vice President of Strategic Marketing for Lennar, Centex Homes, Pulte Homes/Del Webb and Vice President of Residential Product Planning at The Irvine Company, where she led strategic planning, target land acquisition strategies, acquisition and market study due diligence, consumer and product segmentation, quantitative and qualitative consumer research, competitive research, as well as tactical media planning, model and sales office merchandising.
Mollie has been quoted in various media publications including the Wall Street Journal, MSNBC, Reuters, Businessweek, and Professional Builder. She has been a speaker on Consumer Insights and innovative planning ideas throughout the country including PCBC, ULI, UBS, and other specific venues.
AffiliationsULI – Community Development CouncilBuilding Industry Association55+ Housing Council
MOLLIE CARMICHAELPrincipal
(949) 870-1214 mcarmichael@realestateconsulting.com
John BurnsCEO
Pete Reeb
Dean Wehrli
Lesley Deutch
Lance Ramella
Mollie CarmichaelJody Kahn
Lisa Marquis JacksonBusiness Development
Don Walker
Paige Shipp
David Kalosis
Dan Fulton
Ken Perlman
Steve DutraData Management
Team
Client Resources
Our
John Burns Real Estate Consulting, LLC takes great pride in our highly educated, resourceful and experienced team that includes practitioners with 25+ years of experience in both homebuilding and community development. As a research client, you gain access to our team across the nation to discuss market conditions, our current research and our forecasts.
Access to Our Nationwide Team of Experts
Rick PalaciosDirector of Research
Regional Offices
Sacramento, CA
Irvine, CA
San Diego, CA
Dallas, TX
Chicago, ILNew England
Washington, DC
Atlanta, GA
Boca Raton, FL
Nicole Murray
20 WWW.REALESTATECONSULTING.COM
IRVINE, CA9140 Irvine Center Drive | Suite 200Irvine, California 92618
DIR: (949) 870-1200
ATLANTA, GA12600 Deerfield Parkway | Suite 100Alpharetta, Georgia 30004
DIR: (770) 286-3493
CHICAGO, IL3108 State Route 59 | Suite 124-247Naperville, Illinois 60564
DIR: (630) 544-7826
BOCA RATON, FL1900 Glades Road | Suite 205Boca Raton, Florida 33431
DIR: (561) 998-5814
SAN DIEGO, CA4250 Executive Square | Suite 540La Jolla, California 92037
DIR: (858) 558-8384
WASHINGTON, DC11710 Plaza America Drive | Suite 2000Reston, Virginia 20190
DIR: (703) 447-7171
SACRAMENTO, CA7840 Madison Avenue | Suite 187Fair Oaks, California 95628
DIR: (949) 870-1200
NEW ENGLAND155 Fleet Street | Suite 11Portsmouth, New Hampshire 03801
DIR: (603) 235-5760
DALLAS, TX5220 Spring Valley Road | Suite 215Dallas, Texas 75254
DIR: (214) 389-9003
CHARLOTTE, NC9935-D Rea Road | Suite 273Charlotte, North Carolina 28277
DIR: (704) 989-1190
DENVER, CO1630-A 30th Street| Suite 475Boulder, Colorado 80301
DIR: (720) 328-1530
WISCONSINDIR: (920) 373-6727
REGIONAL OFFICE LOCATIONS
Recommended