Nevada to lead nation in housing sales to seniors

Brian Seals

Monday, Jan. 11, 1999 | 11:29 a.m.

It's no secret that Southern Nevada has been attracting senior citizens and retirees for nearly a decade.

A new report by the National Association of Homebuilders says that trend is expected to continue well in to the next century.

Nevada ranked first in that report's "demand intensity" survey, which measures the appeal of one state compared to others. From 1999 to 2006, an annual average of 1,439 households headed by people older than 55 are expected to be in the housing market per 100,000 residents in Nevada.

In other words, Nevada can expect to have the highest rate of seniors both moving within various areas of the state and in seniors moving here from other states through 2006. Florida, Arizona and Arkansas followed Nevada in the survey.

The elderly market will continue to swell into the next century. According to U.S. Census Bureau projections, the number of people age 65 and older will more than double between 2000 and 2050, from about 34.3 million to 80 million.

It doesn't take yet another report highlighting Nevada as a retirement destination to clue in real estate agents. Few are specializing in selling to retirees just yet, but that could change as more are noticing an increase in the senior housing market.

"We'll probably see more of that in the future, where people really work that market," said Gary Coles of Americor Realty.

Coles said he has seen an increase in the amount of calls he gets from across the country seeking information on Las Vegas as a retirement destination.

Nevada's attraction for seniors is nothing new to developers, more and more of whom are aiming their product at the senior market.

Seniors come here for obvious reasons -- warm climate, favorable tax structure and entertainment opportunities. Once here, it's up to developers to get them into their homes.

Seniors have been the catalyst for trends in the local housing market. Many in the industry credit the senior market for initiating a rise in the number of single-story houses being built, something increasingly common in age-restricted and non-restricted communities. Del Webb Corp.'s age-restricted communities only offer one-story houses, for example.

Also, seniors tend to be interested in larger floor plans with more open space to entertain friends and fewer bedrooms, or at least ones that can be converted to offices or hobby rooms. They're not just interested in dwelling space.

"You are not talking about a stripped down house. It's not God's waiting room anymore," said Steve Bottfeld of Marketing Solutions, which monitors the Las Vegas Valley housing industry.

Del Webb is a company that has tapped into the seniors market, having recently opened its third age-restricted community, Sun City Anthem in Henderson.

That company has shown that communities aimed at the senior market have to offer other enticements, like golf courses, exercise fitness programs and other amenities.

Seniors today are more active than those of, say, 20 years ago and are looking for an environment conducive to such activity.

"We believe we have created a niche in the retiree market that offers what retirees are looking for -- an active lifestyle," said Scott Higginson, vice president of government and public affairs for Del Web Communities.

Del Webb's retirement communities are centered around golf courses, but also offer fitness programs, indoor and outdoor swimming pools, tennis courts and other facilities.

Also, the company encourages various clubs for residents to participate in, such as quilting, photography and computer clubs.

"They can find a sense of community, a sense of belonging," Higginson said.

Those are exactly the kind of reasons that attracted Harold and Annette Israel to Las Vegas from Los Angeles. The climate and offerings of Las Vegas were a draw, but the lifestyle they found at Sun City Anthem was a clincher.

"Basically, it's a whole lifestyle you're changing," Harold Israel said. "Here, we have planned activities. You can make friends immediately."

The couple looked at several developments, and even considered other cities.

"We thought about moving where our children are living, but we decided climate-wise we would rather be out here," said Annette Israel.

Del Webb was one of the first companies to anticipate the senior housing market boom in the Valley. It opened its first age-restricted community for people 55 and older in Las Vegas, Sun City Summerlin, in 1988. About 100 houses are left to be sold out of 7,700.

The company plans about a 13- to 15-year period for Sun City Anthem to build out.

"We were fortunate enough to catch the wave as it crested," Higginson said.

Other developments have followed suit. Most recently, Sunrise Colony Co. announced it would build an age-restricted community on 664 acres in Summerlin that will contain 1,873 houses. The project is expected to begin in January and be completed by 2005.

Sunrise Colony will offer the features common to age-restricted communities, with clubhouse, fitness facilities, pools and a golf course.

While such age-restricted communities cater to seniors, that doesn't mean all seniors flock to them. Coles said some clients prefer the independence that comes with a regular neighborhood and eschew the added rules that come with living in an age-restricted community.