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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1243 E Princeton Avenue Gilbert, AZ 85234

$459,900

3 Beds

2 Baths

1,410 SqFt

Status Active

MLS # 6671087

Property Type Single Family Residence

Price Type --

Gorgeously updated 3 bedroom/2 bathroom home in desirable subdivision close to downtown Gilbert! NO HOA!! Newer tile, newer paint, refinished cabinets & refinished countertops, with newer fixtures throughout. Light and bright with vaulted ceilings. All appliances including washer & dryer. Large ''blank slate'' backyard oasis with mature trees, desert landscaping, pavers. Homes in this adorable community go quickly! Close to Downtown Gilbert, Gilbert Elementary, the 60 freeway, and Gilbert Freestone Park. Don't miss this home!!!

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15243 W Verde Lane Goodyear, AZ 85395

$459,900

3 Beds

2 Baths

1,445 SqFt

Status Active

MLS # 6674200

Property Type Single Family Residence

Price Type --

THIS IS ONE AMAZING COMPLETELY REMODELED AUGUSTA MODEL 3 BD / 2 BA! Grey Porcelain Tile Throughout With Coordinating Grey Carpet In 2 Bedrooms! Two Baths Remodeled With New Tile Flooring, Granite Countertops, Cabinetry, Lighting, Custom Tile Shower Surrounds, Shower Doors, & New Mirrors! The Showers Are Beautifully Done With Custom Tile Designs! New Floor To Ceiling Cabinetry In The Hallway! Beautifully Remodeled Kitchen With Newer Stainless Appliances, Granite Countertops, Ceramic Tile Backsplash, & New Lighting! Wood Shutters In All The Right Places! The Backyard Is An Oasis In The Sun With Beautiful Palm Trees, Large Pergola Over An Extended Travertine Patio, & Exterior Lighting Just Where You Need It! Located In The Scottsdale Of The West Pebble Creek Golf/Pickleball Resort Community! All This Located In The Scottsdale Of The West ... Pebble Creek Resort Community!! Offering 3 18-Hole Golf Courses, 40+ Pickleball & Tennis Courts, 3 Outdoor & 1 Indoor Pool, Theatre, Art Center, & So Much More!

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3917 W Juniper Avenue Phoenix, AZ 85053

$459,900

4 Beds

2 Baths

1,966 SqFt

Status Active

MLS # 6674614

Property Type Single Family Residence

Price Type --

Updated and move in ready! This Centrally located home is near downtown, Airport, restaurants, shopping, I-17 and 101 Freeways. This is a 4-bed, 2-bath residence with large lot and a pool. The living room boasts vaulted ceilings with exposed beams and a cozy fireplace, creating an inviting ambiance for relaxation. You'll also find a family room for intimate gatherings. The eat-in kitchen has ample counter space, flat-panel cabinets, matching appliances, and a peninsula with a breakfast bar for quick meals. The main bedroom includes a private bathroom for added comfort. New large ceramic tile throughout the home, Fresh paint inside and out, new carpet, replastered pool and new pool equipment and new updated fixtures. Lots of space for RV gate on both sides of home and NO HOA. Discover a backyard with a nice covered patio providing shade and relaxation, leading to a pristine pool - the perfect spot for summer fun and good yard space left over for entertaining. This value won't disappoint!

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4614 N 124th Avenue Avondale, AZ 85392

$459,900

4 Beds

2.5 Baths

2,052 SqFt

Status Active

MLS # 6687478

Property Type Single Family Residence

Price Type --

Welcome Home! Beautiful desert landscaping & inviting front porch. Bright front room w/ mosaic tile entry & neutral color palette. Chef's kitchen features all stainless appliances + large island w/ granite counter tops. Open kitchen/dining/family room. Don't miss the large custom pantry utilizing the space under the stairs. All bedrooms are upstairs. The primary bedroom is HUGE & features a great walk-in closet + updated bathroom w/ separate tiled shower & garden tub. Ceiling fans throughout. Guest bath remodeled w/ tile surround. Custom shutters throughout. Visit the large quiet back yard through the French doors onto the covered patio. Virtually maintenance free w/ synthetic turf, pavers & desert landscaping in 2021. Producing citrus trees, too. (naval, blood & Valencia oranges) Extras in this home include: all tile downstairs, 2018 lifetime warranty water softener & reverse osmosis, 2023 water heater, 2023 exterior paint, 2018 a/c with touch screen smart thermostat, 2022 new carpet, sunscreens, new gate slats, 6 panel doors, 3 drip lines to back yard, epoxy garage with EV charging capabilities, UV attic light in 2020, smart irrigation system +++. Close to schools, shopping, freeway access and more! This one is neat and clean as a pin. Don't wait.

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