Single women embrace ownership

EDITOR'S NOTE: This is the first article in a two-part series on the growing number of single women purchasing new homes nationwide and in the Las Vegas area. The second article will be published March 22.

The past decade revealed a remarkable shift in the home industry, moving single women from the sidelines to the second-largest demographic in home buying behind the traditional two-income family, according to the 2007 National Association of Realtors report. The study showed that unmarried women make up 22 percent of the total number of home buyers in the United States, up from 14 percent in 1995 -- a more than 50 percent increase in 12 years. Meanwhile, single men make up only 9 percent, a figure relatively unchanged since 1989.

Recent research by NAR and Harvard University's Joint Center for Housing Studies show that women appear to be staying single longer by putting off marriage or becoming part of the country's increasing number of divorced couples. Overall, women's salaries are rising, and with a greater sense of financial independence, they are purchasing their own new homes.

Another factor is the increased availability of financing for women, according to the Mortgage Bankers Association.

"Not so many years ago, a woman seeking to buy a house faced formidable obstacles obtaining a mortgage. Recently, however, the mortgage industry created programs for nontraditional buyers, including single women. In the 1990s, for example, the Federal Housing Administration started letting women use child support as income to help qualify for a mortgage," said Shelly Panzarella, division manager of Universal American Mortgage Co. in Las Vegas.

The number of women entering the homeownership market is staggering. NAR estimates that as many as 13 million will become homeowners across the nation in the next five years.

Although the report did not address Las Vegas numbers in particular, Jeff Galindo, vice president of sales and marketing of Lennar's Las Vegas Division, said he has seen a marked increase in the number of women buying homes in the valley in the past decade.

"We've definitely seen a rise in the number of single-income buyers, primarily women," he said. "While historically women have been the greatest influence in home-buying decisions, this growing market of single women buyers required a more focused mind-set on the part of builders. Their needs and concerns are specific, particularly if they are single parents. As part of Lennar's continuous efforts to maintain its position as a leader in the new home industry, as it has since 1954, we've had the opportunity to carefully study this market and try to meet some of their unique needs."

In fact, a 2006 Joint Center for Housing Studies report showed single women home buyers will often compromise on size and cost to get other amenities, but will not compromise on location or quality of neighborhood.

"For example, we know that safety and security are especially important to single women," Galindo said. "Those with children, in particular, want to feel safe in their home."

Many of Lennar's Las Vegas neighborhoods, including Antelope in the northwest and Mockingbird at the Willows in the southeast, include gated, secure entries.

"Single moms also look for communities with parks or other play amenities within the community where their children can play safely," he said.

Antelope is a prime example of how Lennar is designing some of its neighborhoods to meet the needs of single women with children, according to Galindo. The neighborhood includes a lighted walking trail.

Studies show that other characteristics the busy, single female buyer -- particularly a single parent -- is looking for are a low-maintenance home, proximity to work and schools, shopping and services.

"Low maintenance is why most women buy smaller homes or condominiums. Proximity is key since these women are often working long hours and juggling many demands, with no time to spare on long commutes," Galindo said. "Many of our communities are located close to recreation, schools, shopping, entertainment and major thoroughfares just for this reason."

"It's not just the community design, however, that this buyer segment is reshaping," he said.

"Thinking about the female buyer must begin from the start of the home design, as well. I can't speak for other builders, but Lennar has invested untold time in researching what's important to this buyer segment. These women are savvy buyers, they have a lot of choices and they know what they want."

National home building research has shown that single women want more storage areas such as larger closets and pantries for storing seasonal clothing, decorations, supplies and food.

They prefer more efficient layouts, easy-to-maintain lawns, easy-to-clean finishes and well-designed lighting that makes use of plenty of natural lighting, to help cut down on monthly utility bills and to keep things attractive, according to Galindo.

Studies also show single women are more likely than their male counterparts to focus on the kitchens.

"Our kitchens, including those at Mockingbird at the Willows, Lamplight Gardens and Antelope, reflect Lennar's research and specific efforts to meet the needs of the single female buyer," he said.

"In addition, all our homes are Energy Star-certified to save buyers money on utility bills as well as making our homes more comfortable year-round."

While single women buyers include incomes across the board, nationally the median income is about $51,000, according to recent NAR statistics.

The June 2006 Joint Center for Housing Studies report states that three-quarters of the homes purchased by unmarried women cost no more than $200,000, and more than one-third are less than $100,000, nationally.

While these figures vary by geography, they point to the fact that much of the market is looking for smaller, more affordable residences, without compromising security, design, quality or style, Galindo said.

For example, two-story homes in the Antelope development have nearly 1,800 square feet and are priced from $208,990.

The home is part of the builder's "Everything you want. Everything you need" philosophy and includes upgrades such as stainless-steel kitchen appliances and granite countertops.

Mockingbird, Lexington Park, Shadow Run, Arbor Ridge, Remington Place and Lamplight Gardens also are priced in the low $200,000s and include upgrades in the price of the homes.

Welcome Home Center hours are 9:30 a.m. to 5 p.m. Thursday through Sunday and noon to 5 p.m. on Monday. Call for an appointment on Tuesday and Wednesday.

For more information about Antelope, Mockingbird at the Willows, Remington Place, Shadow Run, Lexington Park and Lamplight Gardens at Silverado Ranch, call 877-205-0449 or visit Lennar.com.