Home Buyer Remorse

Simple tips for avoiding home buyer remorse

By Jason Boone

After the Real Estate Crash of 2007 over 7 million Boomerang homeowners across the United States lost their homes.

Thanks to a recent report by RealtyTrac we know that many of those homeowners who found themselves in underwater homes and chose foreclosure or short sale are now able to become homeowners once again.

“A one-year-old Federal Housing Administration program to help otherwise responsible homeowners who lost everything in the housing crash is starting to help these boomerang buyers.”Source HousingWire

Boomerang Home Buyers

The boomerang home buyer trend is expected to continue over the next eight years and many former homeowners will have to wait at least 7 years until they are eligible to buy a home again while others may be qualified to buy homes again in as little as three years after their foreclosure or short sale.

“More than 500,000 people will fit this description in 2015, according to RealtyTrac. The number jumps to 1 million next year, peaks at 1.3 million in 2018, then tapers off by 2022.” – Source CNN

Recoverng Real Estate Markets

Besides Bend some of the top Real Estate markets which we can expect to see the most boomerang home buyer activity in the coming years are: Las Vegas, Merced, Stockton and Modesto CA.

Retirement states like Florida or cities with the most jobs like Portland are also expected to rank high with Boomerang Home buyers since this group of home buyers includes Baby Boomers and also individuals from Generation X.

To learn more about the latest Real Estate news, or to view Bend Oregon Homes for sale contact me, Jason Boone, Principal Broker with Duke Warner Realty | Skjersaa Group by clicking here to contact me through my website or calling me at (541) 383-1426.