Seniors over the age of 62 areholding $3.3 trillion in home equity

Reblogger Jay Benson
Real Estate Agent with Richard Doyle Real Estate 77414-94

Helpful Hints On Serving Seniors

Key Points:

  • Seniors over 62 holding over $3 Trillion (with a T) in home equity
  • Population of this age group is expected to grow
  • Tips for serving seniors- patience, ask & listen, and Do NOT Generalize!

 

Below blog is by Rick Kellow, Cherry Creek Mortgage.

Thanks Rick!

Build YOUR Career not your broker's!  Become a kw Agent TODAY!

Call me to learn more:  (262) 346-8276

Email: JayBenson@kw.com

 

 

Original content by Rick Kellow

Seniors over the age of 62 areholding $3.3 trillion in home equity

Excerpted from RiskSpan, a leading provider of analytical software and advisory services, "Today, seniors over the age of 62 are holding $3.3 trillion in home equity. Over the next 10-20 years, even with modest to flat home price appreciation, we estimate that value could double due to the aging baby boomer demographic. Our current evaluations of U.S. census data show the population of seniors aged 62 and over is projected to grow from its current level of 50 million to 83 million by 2030".

Some tips on working with seniors:

Be patient:

  Many seniors have lived in their homes for more than twenty years. In that time, many changes have occurred in the industry.

Ask questions:

  If you don't get all the information, you won't give the right advice or make the right decision.

Don't generalize about your senior client:

 Not all seniors are alike, nor do they have the same goals or wherewithal. Some are healthier, more alert and more active than others, and have vastly different financial needs.

Get the right information suited for his/her individual needs:

 Find proactive solutions. A senior's equity is often the only financial asset s/he has.


We are passionate about helping and educating seniors. Together we can make a difference.

To learn more about tips on working with seniors or for answers to your reverse mortgage questions, contact Rick Kellow at Cherry Creek Mortgage Company 414-303-7944

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Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
Wisconsin Washington County
Groups:
Keller Williams 'Rainers
Tags:
condos
homes for sale
senior citizens
real estate
mortgage
west bend

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Rainer
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Jimmy Faulkner
Florida. Homes Realty & Mortgage - Wantagh, NY
The Best Of St. Augustine

Everyone is different and that includes seniors of which I am one. Some of us grow old quicker than others. Some of us have a younger attitude. LISTEN to us.

Jan 31, 2014 11:47 AM #1
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Jay Benson

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