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The Real Story has been talking with Dan O’Brien from Shea Trilogy active adult communities about the impact of the Baby Boomer generation on our view of retirement. According to Dan, this generation is combining a love of travel and a desire for service into programs that he calls “travel with purpose”—whereby active adults with a desire to “give back” travel to Third World countries for the purpose of doing construction, rehabbing buildings, or working in social programs for the betterment of the local citizenry. These trips are long—about four weeks—and provide a very different experience than the cruise ship voyages that were once the staple of senior travel groups.

Closer to home, at Dan’s own Trilogy at the Vineyards in Brentwood, the residents live among 35 acres of vineyards and another 30 of olive groves. The result, of course, is an active group of winemakers, and soon, the first olive oil crush as well. In the foodie-haven of the Bay Area, the attraction of participating in the harvest and processing of both wines and olive oils provides a link between wellness, connection, and exploration—all pillars of the new view of active adult living.

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This week, Dan O’Brien, president of Shea Homes Trilogy communities in Northern California is talking to The Real Story about how the Boomer generation is changing the concept of retirement living. Dan reminds us that earlier retirement living models were based on a scheduling format not unlike a cruise ship—with activities tightly planned and scheduled. The Boomer outlook calls for more flexibility, more choice, and more connection with the world outside of the boundaries of their community.

The Boomers are the first retirement generation adept at using the Internet, making them the most connected retirees in history. How will they redefine retirement through constant interaction with the world that is literally at their fingertips? Stay tuned.

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In an interview that was originally posted last summer, The Real Story talks with Dan O’Brien, President of Shea Homes’ Trilogy communities in Northern California. The subject? How the Boomer generation is changing the way that “active adult” living is defined—and how the home is just part of the equation.

The Boomer moving out of the family home and into active adult living is turning the conception of “senior housing” on its ear. For one thing, says Dan, only 10 percent of the residents of his Trilogy at the Vineyards community in Brentwood are actually retired. About 50 percent of the residents are still working in their careers; another 40 percent are starting new businesses, pursuing different career or interest paths. “These Boomers are not retiring”, says Dan. “They’re rewiring.”

Coming to Shea Trilogy from a career in homebuilding and active adult community development with Del Webb, Dan says that Shea has had to throw away old conceptions about product and lifestyle and create a series of new paths that involve exploration, including self-improvement, connection, and wellness and well-being. Sounds like a far cry from shuffleboard.

A segment of Dan’s memorable interview will be posted every day this week; listen here or download them on iTunes.

With foreclosures on the rise again in the Bay Area, buyers can expect a new wave of bargain-priced homes. But buyer beware. A bargain-priced property may end up being no bargain at all. Here are some red flags of potentially expensive repairs that anyone with a keen eye can spot:

Look for signs of water damage. Do all bathrooms have exhaust fans or good ventilation? Is the grout in good repair? Are there any signs of mold or stains on the walls? Does the drainage around the house direct water away from the foundation? Be sure to check the crawl space under the house for moisture and mold.

Take a look at the roof. Look for missing shingles or tiles and vegetation growing in the gutters.

Turn on the taps. Poor water pressure could indicate plumbing problems.

Make sure doors open and close freely—or don’t close on their own. This could mean structural issues.

Check the power supply. Are there enough outlets? Are all the outlets 120 volts? Many older homes are simply underpowered for today’s needs.

Don’t forget the energy efficiency factor. Homes built before 1976 are likely to be less energy efficient. Single pane windows, insufficient insulation, non-conserving toilets can all be costly over time.

Resources:

www.cnbc.com/id/41062261/Real_Estate_Red_Flags

www.sfgate.com/cgi-bin/blogs/ontheblock/detail?entry_id=81555

realestate.yahoo.com/promo/7-red-flags-for-home-buyers.html

California homebuilders put up the second-lowest number of homes for a single year in 2010, posting a modest improvement over the record-low that was set in 2009, the California Building Industry Association announced today. CBIA said just 44,601 permits were issued statewide last year for new homes, apartments, condominiums and townhomes, up 23 percent from 2009, but down 31 percent from 2008, which had held the distinction of the second-lowest total on record with 64,962 permits issued. Records began being kept in 1954 with the lowest yearly total set in 2009 with 36,421 permits issued. 



“While we had hoped for a more robust recovery in 2010, it’s good to see the increase in the number of permits issued, albeit a very modest increase,” said Mike Winn, CBIA’s President and CEO.

For the month of December, permits totaled 6,487, up 80 percent when compared to December 2009, and up 100 percent from the previous month. Single-family permits totaled 3,108, up 15 percent from December 2009 and up 127 percent from November, while multifamily permits totaled 3,379, up 278 percent from December 2009 and up 80 percent from the previous month.

Ben Bartolotto, Research Director for CIRB, noted that any enthusiasm for the increases seen in December should be tempered with the fact that December numbers are often inflated because of a rush to pull permits before certain regulations and fees get increased in January—and this January, as The Real Story has reported, saw the adoption of Cal GREEN, the green building code.

For consumers, these statistics mean fewer new home choices ahead. There are, however, plenty of resale and foreclosure properties on the market.

Two weeks into the new year, the average rate on a 30-year fixed-rate mortgage has fallen to 4.71%, Freddie Mac reported last Thursday.

But even with rates like these, home sales are still weak. High unemployment, tighter lending standards and uncertainty about home values are keeping potential buyers away, according to a forecast by David Crowe, chief economist for the National Association of Home Builders.

The same report predicts gradual improvement in the housing market—but housing will follow jobs, and a full recovery is likely to be two years away. Crowe says single-family home construction will rise 21 percent this year with further increases in 2012 as job growth begins to really build momentum.

As for mortgage rates, the report suggests they may reach 5.5 percent by the end of 2011 and go as high as 5.8 percent next year.