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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2196 W Quail Hollow Trail Benson, AZ 85602

$475,000
4 Beds
2.5 Baths
2,279 SqFt
Status Active
MLS # 6677184
Property Type Single Family Residence
Price Type --
Peaceful, easy living yet close to everything! Zoned for horses, this 5+ acre property is versatile and move in ready. House was re-stuccoed and painted recently, the roof was recoated and has a 3 year warranty. The thick walls mean it is warm in the winter and cool in the summer. The open floor plan and tile throughout lends itself to entertaining and there is room at the island for plenty of seating. Newer Stainless Steel appliances, tons of cabinets, plenty of storage and a sizeable pantry round out the kitchen. The Great Room is open to the kitchen, has a high ceiling and the clerestory windows make it bright and light. The wood burning stove can heat the entire house. There is also an oversize primary bedroom with the bath boasting a soaking tub. The generous walk in closet has double hangers and some built ins. The guest suite has a half bath (easy to add a shower) and a good closet with built ins. All appliances stay. Some adjacent acreage available for purchase on a separate bill of sale. The seller is willing to sell completely furnished. Bring your horses and enjoy!

10773 W Baden Street Tolleson, AZ 85353

$475,000
3 Beds
2.5 Baths
2,022 SqFt
Status Active
MLS # 6669641
Property Type Single Family Residence
Price Type --
The search is finally over! Be the proud owner of this charming 3-bedroom with a den property nestled in Roosevelt Park that has never been lived in. Explore inside to find a spacious open floor showcasing tile flooring, soothing palette throughout, and modern recessed lighting. The impeccable kitchen boasts white shaker cabinets adorned with crown moulding, sleek quartz counters, stainless steel appliances, a walk-in pantry, and a large island complete with a breakfast bar. The primary bedroom features soft carpet in all the right places, a private bathroom with dual sinks, and a walk-in closet. Discover the quaint backyard offering a cozy covered patio and plenty of potential for adding your personal touch! Don't let this opportunity pass you by!

7790 W Emerson Drive Kirkland, AZ 86332

$475,000
3 Beds
3 Baths
2,593 SqFt
Status Active
MLS # 6668827
Property Type Single Family Residence
Price Type --
This ranch-style hilltop home has million dollar, panoramic views for miles, nearly 7 acres of fenced and gated land, outbuildings, and potential guest house! You will love your full views of both sunrise and sunset, as well as the vast and powerful mountain ranges that fill the horizon. The peace you will find while listening to the abundant wildlife is unmatched. All your toys and hobbies will find a home on this perfectly situated property on the paved county road. The home is nearly 2600 sqft - with 3 large bedrooms, 2 bonus rooms, 3 full baths, an open kitchen with pantry, plenty of cabinet space, dining room, living room, and huge climate controlled laundry room that can double as an office, media room, or bonus space. Add to that a large attached 2-car Garage that has tons of extra space with shelves and built-in counters, well house and well equipment, detached exterior 16x12 shed (included with full-price offer only), and 600 sqft storage building with the potential to become a guest house or rental. New roof, updated flooring, and more! see attached docs for a breakdown of upgrades/updates. This town is a well-kept Prescott area secret! This peaceful location will allow you to take a deep breath and reset! 25 minutes (17 miles) from downtown Prescott and less than an hour from Wickenburg. If you are looking for rural yet convenient, don't overlook Wilhoit!

23621 N 58th Drive Glendale, AZ 85310

$475,000
3 Beds
2 Baths
1,467 SqFt
Status Active
MLS # 6673977
Property Type Single Family Residence
Price Type --
Welcome to your dream home! Nestled just behind Thunderbird Conservation Park with stunning Mountain Views. Step inside to discover a warm and inviting atmosphere with a woodburning fireplace, vaulted ceilings and dining room for those special gatherings. The heart of the home is the enchanting kitchen that features a breakfast nook with bay windows bringing in lots of natural light, a center island with seating and recessed LED lighting. Laminate flooring in the main living areas and slate in the kitchen complemented by stone countertops. All interior walls painted, switch outlet covers and vents replaced, updated baseboards and new dining room light fixture. All bedrooms are graced with walk-in closets. Split master suite with a separate garden tub, tiled shower, executive-height vanity with stone countertop and dual sinks. Oversized back covered patio, a grassy play area and surrounded by beautiful landscaping in the front and back. Recently painted interior block fence. The 2-car garage features a wall of storage cabinets and a convenient pull-down ladder for attic access. Located between Loop 101 and I-17, this home offers convenience for easy commutes, hiking trails with the natural beauty of the surrounding landscape and close to shopping and entertainment centers. This home has it all!

2521 S Marshalls Run Show Low, AZ 85901

$475,000
4 Beds
3 Baths
1,250 SqFt
Status Active
MLS # 6516950
Property Type Single Family Residence
Price Type --
Attention to detail will fill this custom built to be completed 2/14/2024 two story cabin home in the tall pines of Show Low AZ. Featuring four bedrooms and three full baths. Central heat and AC. Heated bathroom floors Stainless steel appliances, Quartz counters. Metal roof. High end finishes throughout the home. Oversized one car garage. One year builder warranty Located in the desirable Cedar Ridge subdivision in the heart of town. Minutes from downtown shopping and dining. One hour from Sunrise Ski Resort. Perfect location to enjoy the four seasons** Seller will pay up to $10,000 in buyer's closing costs Or that $10,000 converts to being able to pay 2.25% to ''buy down the rate.''

4010 W Campo Bello Drive Glendale, AZ 85308

$475,000
4 Beds
2 Baths
2,069 SqFt
Status Active
MLS # 6641786
Property Type Single Family Residence
Price Type --
NO HOA!! This 4 Bedroom, all electric home in the Desert Pines neighborhood is in a well maintained neighborhood and offers a perfect canvas for any modern amenities you may want to add to its classic charm. Priced below other available comps in the zip code to provide some instant equity to buyer. You will have plenty of space with a separate Living Room, Family Room with fireplace, Formal Dining Room, a large eat-in Kitchen, a gated diving pool and a spacious side yard suitable for trailer or extra parking. 2 car garage with shelving & a large bonus storage area. This home brings together the options for both the desire for relaxation and entertaining. Step outside to your refreshing pool with its large deck space, creating an ideal area for your outdoor gatherings & summer BBQs. More The back yard is a blank slate for the new pwner to make uniquely their own. A new roof and new hot water heater were installed in 2023. Newer dishwasher - rarely used. Rev Osmosis system installed. Rebuilt pool pump. This home is one of the few in the neighborhood with both an AC and an evaporative cooler to help reduce cooling costs. Two very large trees in the front yard and a huge Orchid tree in the back yard shade the home from the summer heat. Ceiling fans throughout.

11240 N Seven Falls Drive Tucson, AZ 85737

$475,000
4 Beds
2 Baths
2,049 SqFt
Status Active
MLS # 6627143
Property Type Single Family Residence
Price Type --
Seller will entertain all reasonable offers. Selller is offering a home warrenty not to exceed $500. Everything you need is wrapped into this two-owner 4BD/2BA charming home! Located in the desirable Copper Creek neighborhood on a premium corner lot with great mountain views, dramatic soaring ceilings, tiled entry way and tiled gas fireplace in family room. Lightly lived in and used as a winter home only. Enter to find an appealing split bedroom floor plan featuring both living and family rooms. Large family room off kitchen w/ dining area and access to covered patio. The flooring is attractive tile with carpet in the dining room and bedrooms. The bright kitchen has a sizable pantry, and plenty of storage and counter space. The owner's suite, features a garden tub and separate shower. Inviting backyard has generous landscaping, a water feature, fruit trees, and room to relax. Close to the beautiful Catalina mountains. A great place to call home!

18134 W Maui Lane Surprise, AZ 85388

$475,000
4 Beds
2 Baths
1,737 SqFt
Status Active
MLS # 6645154
Property Type Single Family Residence
Price Type --
Explore this splendid 4-bedroom, 2-bathroom energy-efficient home, boasting impressive curb appeal with a 2-car garage, extended driveway, additional RV parking space, and low-maintenance landscaping. Step inside to find a luminous interior adorned with high ceilings and stylish wood-like flooring throughout. The kitchen is a chef's delight, outfitted with chic countertops, a mosaic tile backsplash, fine wood cabinetry, a central island, and stainless steel appliances. Each bedroom is carpeted for comfort and includes a ceiling fan, with the primary suite boasting a walk-in closet and an en-suite bathroom. The backyard is an oasis, featuring a covered patio, a a shimmering swimming pool, well-maintained landscaping, grass, and an expansive patio ideal for sunbathing.

22348 N Braden Road Maricopa, AZ 85138

$475,000
5 Beds
3 Baths
2,912 SqFt
Status Active
MLS # 6654144
Property Type Single Family Residence
Price Type --
Located in the ever-growing community of Maricopa, this Adorable 5 Bed/3 full Bath home is move in ready! Open floor concept, with spacious backyard, landscaped with beautiful green grass, perfect for entertaining! Upstairs features a loft with built in desks and entertainment area. Located near shopping and amenities.

15423 W Statler Circle Surprise, AZ 85374

$475,000
3 Beds
2 Baths
2,090 SqFt
Status Active
MLS # 6649904
Property Type Single Family Residence
Price Type --
Beautiful home in the heart of Surprise! This home offers 3 bedrooms and 2 bath along with a den and extra formal dining & living room. Many upgrades have been included in this home - wood flooring through out the entire home, plantation shutters in every room, and upgraded kitchen with oversized granite slab counters, raised cabinets, and backsplash. Great home to host with the gas fireplace inside and oversize lot outside. Along with the oversize lot comes with an RV gate to haul your toys& extra storage in the backyard. Located close to the Loop 303 and shopping plazas. Come check this home out before it's gone.

11963 W Levi Drive Avondale, AZ 85323

$475,000
4 Beds
3 Baths
2,025 SqFt
Status Active
MLS # 6654559
Property Type Single Family Residence
Price Type --
NEARLY NEW AND NO WAIT!! This one was perfectly designed and hardly lived in. The 4 bedroom beauty has 3 splits in this floor plan. Privacy was held in the highest regard while designing this home with a bathroom in each wing. The main living space is open and made for entertaining. A large kitchen island provides seating and leaves a nice open floor plan. The colors of the walls, floors and cabinets boast stylish, contemporary colors. A subway tile backsplash is the perfect finish for this fabulous kitchen. The owner's suite is separate from other bedrooms with ample space for your decor. The yard is quaint with a spacious covered patio. The back yard is a blank canvas and ready for your landscaping creativity.

805 W Holstein Trail San Tan Valley, AZ 85143

$475,000
4 Beds
2 Baths
2,316 SqFt
Status Active
MLS # 6681202
Property Type Single Family Residence
Price Type --
Welcome Home!!! This gorgeous 4 bedroom 2 bath home at Circle Cross Ranch in San Tan Valley is in a fantastic location. Close to restaurants, shopping, schools & parks. You'll love the layout of this open concept floor plan. Your kitchen offers stainless steel appliances (new stove), laminate counter tops, filtered water, a walk in pantry & an island/breakfast bar for extra prep & storage. Your spacious master suite offers a plethora of natural light, a walk in closet, dual vanity, a walk in shower & soaking tub, as well as direct access to your backyard oasis. This home also offers upgraded ceiling fans, new interior paint, vaulted ceilings, tile flooring throughout (no carpet), as well as a 2 car garage with a water softener & cabinets for extra storage & organization. Your backyard oasis offers a covered patio, mature landscaping, a grass area to utilize, along with a sparkling heated pool & spa with a rock formation waterfall to enjoy all year round. This gem in the desert is a Great Buy & a Must See!!!

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