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Residential Housing Market: Is opportunity upon us?

Residential Housing Market: Is opportunity upon us?. Alan P. Mark President, The Mark Company May 24, 2011. Agenda. Tracking homebuyer trends Top buying groups How to reach them How to design for them What’s next?. The Mark Company.

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Residential Housing Market: Is opportunity upon us?

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  1. ResidentialHousing Market:Is opportunityupon us? Alan P. Mark President, The Mark Company May 24, 2011

  2. Agenda • Tracking homebuyer trends • Top buying groups • How to reach them • How to design for them • What’s next?

  3. The Mark Company • Design development, market research, sales and marketing • Mid- to high-density residential developments • Projects throughout Bay Area, Los Angeles, San Diego, Denver, Las Vegas

  4. Homebuyer Trends • Gen Y and Baby Boomers emerged as biggest home- buying groups • Interest in urban locales & convenience of HOA • Why they are buying NOW

  5. Who are they? Baby Boomers • Between 46 - 64 years old • Roughly 75 million people • Experienced buyers • Drawn to urban locations • Empty nesters • Looking ahead to retirement • Gay couples • Second homes • All-cash purchases common

  6. Who are they? Gen Y • Between 16-33 years old • Roughly 80 million people • First-time homebuyers • Well-educated • Tech-savvy • Lifestyle driven • Value sense of community • Financial assistance from • parents

  7. Population Millions

  8. Buyer Profile Trends Note: Based on TMC projects in San Francisco Bay Area, Los Angeles, Denver during past four years.

  9. Top Purchase Drivers

  10. Brand Names: Baby Boomers

  11. Marketing To Baby Boomers • Promote sense of community and refined living • Use imagery and models that look like them • Traditional and non-traditional media • Be aware of other stakeholders: children or financial advisors • Buying for themselves for adult children

  12. Brand Names: Gen Y

  13. Marketing To Gen Y • Messaging needs to be value and lifestyle-driven • - Attainable luxury living • Use imagery and models that look like them • Text/email over phone calls • Drawn to sense of community • Events - Social media • Online - Co-marketing

  14. Designing For Baby Boomers • Convenience & walkability • Amenities: Emphasis on • refined lifestyle • Unit Design: Comfort • Single-level • Impeccable design • High-end finishes • Fewer bedrooms • Larger living/dining rooms

  15. Designing For Gen Y • Amenities: Emphasis on social • Unit Design: Flexibility • Built-in office/desk • Stylish finishes, but not top of the line • Smaller space ok • Community room • Fitness center • Dog run • Rooftop deck • SmartHome technology

  16. What’s Next? • Buyer profiles will continue to evolve and change • Fannie Mae and FHA guidelines becoming more stringent • Emphasis on lifestyle and value

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