More Boomerang Buyers Are about to Enter 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.

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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

13639 W Banff Lane Surprise, AZ 85379

$460,000

4 Beds

2 Baths

2,261 SqFt

Status Active

MLS # 6694490

Property Type Single Family Residence

Price Type --

INVESTMENT OPPORTUNITY! LONG TERM TENANTS IN PLACE UNTIL 2026! Spacious home on a beautiful corner lot boasts a welcoming entry/porch and soothing back yard escape. As you enter this 2,261 SF, 4 bedroom/2 bath home you are greeted by a spacious formal living/dining area at the front of the home. Walkting through to the arched doorway you find yourself in the kitchen, complete with granite countertops, kitchen island, breakfast area, living room and a oversized pantry! The 4 bedrooms are on the east side of the home with the Primany bedroom showcasing elegant double doors and a private exit to the back patio. This home is currently being rented on a 5 year lease with a little over 2 years remaining making it a perfect addition to your rental portfolio. NEW PICS SOON!

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9826 W Escuda Drive Peoria, AZ 85382

New

$460,000

3 Beds

2.5 Baths

2,258 SqFt

Status Active

MLS # 6695438

Property Type Single Family Residence

Price Type --

WELCOME to Quail Ridge at Westbrook Village! Many people don't realize you only have to be FORTY to live here and you can have children 19 and older! We are an ACTIVE community, with block parties, chili cook-offs, cocktail hours, etc. Lot's of dogs and friendly people! Westbrook has an EXCEPTIONALLY LOW HOA-$776.50 a year-that's $64 a month for COMMUNITY POOLS, tennis and pickleball courts, exercise facilities and more. We also have a ''Posse'' that patrols our neighborhoods. Come and check us out! ORIGINAL owners have determined it's time to sell. The mechanicals and roof of this home are in great shape and the home is move in ready! A HUGE covered patio gives you an awesome outdoor space to enjoy the large yard! A solar system relieves the worry of high power bills! See it today!

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3133 E Hobart Street Gilbert, AZ 85296

New

$460,000

3 Beds

3 Baths

1,321 SqFt

Status Active

MLS # 6696166

Property Type Single Family Residence

Price Type --

Nestled within the charming confines of Agritopia, this delightful abode offers the epitome of modern comfort and convenience. Boasting a generous floor plan with three bedrooms and three bathrooms, this home is designed to accommodate both living and entertaining with ease.The heart of the home, a spacious kitchen, features sleek countertops, stainless steel appliances. Convenience is key with a two-car garage providing ample parking and storage space, while the proximity to the new Epicenter adds another layer of allure. Imagine strolling to this vibrant community hub, where dining, shopping, and entertainment options abound, creating a dynamic lifestyle at your doorstep.

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20217 W Desert Bloom Street Buckeye, AZ 85326

New

$460,000

3 Beds

2.5 Baths

2,361 SqFt

Status Active

MLS # 6696295

Property Type Single Family Residence

Price Type --

Welcome to your new home in the desirable Blue Horizons community! Th is stunning two story residence boasts an inviting open concept living room to kitchen, perfect for gatherings and culinary delights. Not to mention, spacious bedrooms and large loft for a cozy getaway. Enjoy the tranquility of no back neighbors offering privacy and serene views!

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