More Boomerang Buyers Are about to Enter the Market

More Boomerang Buyers Are about to Enter the Market | Simplifying The Market

We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019.

Recently, HousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off their credit reports over the next five years and that this could “possibly send a flood of more homebuyers into the housing market.

The chart below shows the total number of bankruptcies filed by year in the US over the last 10 years. The light blue bars represent over 3.3 million people who have already waited the 7 years necessary for their reports to no longer include their bankruptcies.

More Boomerang Buyers Are about to Enter the Market | Simplifying The Market

 

How would this “send a flood of more homebuyers into the housing market”?

As the article mentioned, in 2010 the number of chapter 7 bankruptcies increased to nearly 1.14 million. Now, 7 years later, they will begin to fade from credit histories, enabling prospective buyers to become homeowners again once their credit scores improve.

As we can see from both reports, the homeownership rate has the opportunity to increase drastically over the next few years with all of these boomerang buyers returning to the market.

Bottom Line

If your family was negatively impacted by the housing bust, here is the light at the end of the tunnel! You may be able to purchase your dream home faster than you think!  Give me a call to set up a no cost / no obligation informative meeting about purchasing your dream home today!  J.P. Cook – 602-320-4253.

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8009 W Desert Cove Avenue Peoria, AZ 85345

$449,900
4 Beds
2 Baths
1,636 SqFt
Status Active
MLS # 6612345
Property Type Single Family Residence
Price Type --
No HOA!! This Peoria home features 4 bedrooms, 2 baths and a 2-car garage with partial remodeling in recent years. Spacious living and dining rooms that open to the kitchen. The kitchen features newer stainless steel appliances including refrigerator, granite counter tops, tiled backsplash, recessed lighting, and a large walk-in pantry. Master bedroom is spacious and features a walk-in closet and the Master bath features double sinks and a walk-in shower! Newer 6-panel interior doors, ceiling fans, light fixtures, 2'' blinds, toilets, and hardware. Owned soft water system and windows are not original to the home. The backyard has so many wonderful possibilities. There is a children's play area, a fenced PebbleTec play pool, an extended covered patio, a large RV gate with slab parking for an RV or other toys, another area for gardening, and storage sheds. Close to the 101 and 60 Freeways, shopping, dining, and the State Farm Stadium!

11109 E Pima Circle Dewey, AZ 86327

$449,900
3 Beds
2.5 Baths
2,085 SqFt
Status Active
MLS # 6639904
Property Type Single Family Residence
Price Type --
Great 2 story home located on a quaint & quiet cul-de-sac w/minimal HOA fees featuring a golf course, restaurant, fitness center, pool & sports courts. This home features two bedrooms upstairs w/a potential 4th bedroom or den/study downstairs. The primary bedroom is located on the main floor features a walk-in-closet, dual sinks, garden tub/shower & private toilet room. Large open concept w/vaulted ceilings & lots of natural light in the living, dining & option for formal dining or media room. The covered deck off the kitchen & living room opens to mntn & neighborhood views Separate laundry & powder room. Two fenced in yards for children, dogs or a possible garden. Room to park your RV, additional vehicles or toys. New roof, flooring & stairway carpet in 2023 w/ceiling fans throughout.

11929 W Alvarado Road Avondale, AZ 85392

$449,900
4 Beds
2 Baths
2,052 SqFt
Status Active
MLS # 6640101
Property Type Single Family Residence
Price Type --
Stunning 4 bedroom, 2 bath home located on a large north south facing lot in the Cozy Donatela Community. Nice open floorplan to provide a great room concept. Open kitchen with center island, many cabinets for storage & pantry. Large master bedroom with spacious bathroom, dual sinks Plus a large walk-in closet. The backyard is your very own private oasis with large pool, covered patio, low maintenance landscaping with the front and backyard. Owned water softener & RO. Leased Solar to keep those utility costs low. Great location for all your Arizona needs to include schools, parks, shopping, hiking Plus so much more!

8630 E Bella Vista Road San Tan Valley, AZ 85143

$449,900
4 Beds
2 Baths
2,076 SqFt
Status Active
MLS # 6647747
Property Type Manufactured Home
Price Type --
A BRAND NEW Clayton Home is setup and ready for move in! 3% Seller concession offered with a full price offer! This 4 bedroom, 2 bathroom home offers just under 2,100 square feet with an excellent layout. The very popular 'Nirvana' model has an exceptional floor plan with all the modern finishes. There is laminate flooring in all living spaces and carpet in the bedrooms. The luxury kitchen has upgraded cabinets, a huge quartz island, all appliances included, and more. There is a large master bedroom, with a stunning bathroom that includes dual sinks, separate shower/tub, and walk-in closet. This home is situated on approx 1.5+/- acres in a quiet area of San Tan Valley, but close to all local conveniences. Great property for horses or plenty of room to add on shops, storage, with no HOA!

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