There’s big money in 55-and-older market

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

(This is Part 1 of a two-part series. Read Part 2, "Hot Realtor niche now 15,000 strong.") Some of the newer real estate sales models focus on the speed and resources of the Internet, hoping to lure the under-35 generation, sometimes known as the iPod generation, with a high-tech approach to residential transactions. Significant "face time" is not a critical component. However, a huge segment of the population still prefers high-touch to high-tech, specifically persons over the age of 65 -- already the largest group of property owners in the U.S. According to the Census Bureau, senior citizens in this country, persons 65 and older, have approximately $2 trillion in home equity. The American Association of Retired Persons, or AARP, estimates that 83 percent of seniors own their own homes and nearly 8 million of them will move residences in the next two years. Many homeowners will absolutely stay put, or "age in place," simply because what they have now -- house, neighborhood, friends, c...