In recent years, the influx of baby boomers has dramatically affected the real estate market – particularly the waterfront real estate market. Although this trend has peaked, the boomers are continuing to purchase waterfront property in Florida for vacation and retirement homes. According to U.S. Census figures, a 10% growth rate of those between 45-65 years of age is expected by 2020. This population, which is the primary age of waterfront home buyers, is particularly powerful because they have reached their peak earning potential. In addition, three additional years of life expectancy is forecasted, further increasing the population of waterfront home buyers.
However, there ARE opposing forces at work here. When the economy enters a downturn, real estate purchases and interest rates decline. For those reasons and more, we are at historically low waterfront real estate prices, and the smart money is on waterfront real estate in Florida. With depressed real estate prices, the depreciated dollar and a limited opportunity, now is a great time to purchase waterfront property in Florida…before the prices spike once again and supply is even more limited.
As you can imagine, a solid real estate purchase is created by more than just the ever-changing economy. It is also largely based on the location in which you purchase. New Smyrna Beach and the Greater Daytona area offer so much of Florida’s prime waterfront property. The weather is perfect; the beaches are gorgeous; the boating and fishing are tremendous; and the events and activities are spectacular.
If you are interested in investing in waterfront real estate in the Volusia County area, call 386-295-9999 to reach Arnie Traub Real Estate, or visit captainarnierealtor.com to check out some of the latest waterfront listings. Arnie Traub has lived in this community for over 36 years, and is the area’s most trusted source for navigating the waters of waterfront property.