Buckeye community is wooing Boomers

Baby Boomers considering buying in metro Phoenix’s newest community for people 55 and older will have four homebuilders from which to choose: Lennar, Maracay Homes, Standard Pacific and T.W. Lewis.

The builders recently completed deals worth about $41 million overall to buy land in the Victory District within Verrado in Buckeye. About 417 home lots are planned on the land sold.

Scottsdale-based developer DMB hired architects, universal-design experts and kitchen and bath designers to coach the homebuilders on how the lifestyle, needs and motivations of Baby Boomers differ from traditional homebuyers.

Design plans for the houses are being completed now. The first phase of houses will be for sale in January. Sizes will range from 1,400 to 3,000 square feet on four different-size lots.

Victory home prices are expected to range from the $200,000s to more than $500,000.

“By collaborating with multiple builders, Victory plans to offer its residents more choice, quality and personalization than other communities constructed by a single homebuilder,” said Nick Taratsas, DMB senior vice president and general manager of Victory. “No other developer has spent this kind of time and attention to educate builders on the specific needs of Baby Boomers.”

Victory is going up on 1,200 acres within the 8,800-acre Verrado.

Some cautionary advice about reverse mortgages

Reverse mortgages can be a viable option for anyone older than 62 facing foreclosure. But home-loan experts advise borrowers to be careful because they still can lose their home with a reverse mortgage.

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