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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633 S Golden Key Street Gilbert, AZ 85233

$538,900

3 Beds

2 Baths

1,877 SqFt

Status Active

MLS # 6772178

Property Type Single Family Residence

Price Type --

Discover this beautiful CORNER LOT home just a short walk from DOWNTOWN GILBERT, nestled in a SAFE, well-developed community with endless walking paths, LAKES, and parks. Enjoy a spacious backyard featuring a COVERED PATIO and a sparkling, HEATED POOL/SPA—the perfect size for cooling off or heating up! (NEW pool heater/cooler (2023) This DESIRABLE FLOOR PLAN boasts a stunning front-to-back entry, a LARGE OPEN FAMILY ROOM/kitchen and dining area ideal for entertaining or game nights. Modern touches include GRANITE COUNTERS and newer appliances in convenient walk-through kitchen. Recent: NEW WATER HEATER (2024), NEW RO AND WATER TREATMENT SYSTEM/SOFTENER (2021), and a NEW ROOF (installed 10/2024). Located near A+ Gilbert schools, gyms, restaurants, shopping, and MORE! MOVE IN TODAY! and WATER SOFTENER (2021). 2 CAR GARAGE with storage and attice access. NEW ROOF installation 10/2024!! Perfect location NEAR RESTAURANTS, shopping, parks, schools and SO MUCH MORE!!

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13403 W Cabrillo Drive Sun City West, AZ 85375

$538,850

2 Beds

2 Baths

2,335 SqFt

Status Active

MLS # 6665100

Property Type Single Family Residence

Price Type --

Freshly painted interior! Gorgeous home boasting 2 bedrooms, a den, 2 bathrooms in the desirable CORTE BELLA! As you approach the home you will love the gated courtyard and immaculate landscape. The open floor plan is well designed with a dining room, living room, and great room. The kitchen offers beautiful upgrades featuring a peninsula island with a breakfast bar, elegant cabinetry with crown moulding, and wall appliances. The great room is open with plenty of natural light. The primary suite is over sized with a ceiling fan and a lavish ensuite bathroom featuring a seperate shower and soaking tub, dual sink vanity, and a walk-in closet. The backyard is easy to care for! Do not miss out on this home! Corte Bella offers an abundance of amenities to suit every lifestyle. Enjoy the 18-hole Kemper-Sports Owned golf course offering breathtaking views of green fairways, lakes, and mountains. Cool off in the full Olympic-size pool or heat up in a well-equipped gym with saunas for various classes like yoga, dance, and much more. Whether you are seeking a full-time AZ residence or a winter get-away this home is perfect!

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6510 S Hazelton Lane Unit 138 Tempe, AZ 85283

$538,822

3 Beds

3 Baths

2,145 SqFt

Status Active

MLS # 6779036

Property Type Single Family Residence

Price Type --

GREAT TEMPE HOME IN HIGHLY DESIRABLE GATED COMMUNITY! Rarely available, this architecturally unique interior, bright & spacious residence has two primary suites, each w/partially renovated, light-filled bathrooms & solid maple cabinets. High ceilings & large windows thru-out create an uplifting, open feel. Recent updates incl. new carpet & pad, (2) new ACs, dishwasher, fridge & freshly painted kitchen, dining, & hallways all in 2024. Open kitchen offers ample storage, large pantry & solid maple cabinets. Enjoy the community's pool/hot tub steps away. A mature Ash tree provides backyard shade, keeping summer energy bills low. Located near the US 60, Loop 101, and ASU, close to Trader Joe's, Changing Hands Bookstore, parks, etc. This low-maintenance gem won't last long!

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25203 S Kansas Avenue Sun Lakes, AZ 85248

$538,500

4 Beds

3 Baths

2,021 SqFt

Status Active

MLS # 6767478

Property Type Single Family Residence

Price Type --

Beautiful 3bd/2 bath main house(1621sf) with a lovely **GUEST HOUSE**! (400sf) = 2021sf total living space! Guest house has a living room, full kitchen, large bath with shower and safety seat. Bedroom accommodates a twin bed, nightstand and dresser. Large closet. Main house has been extensively renovated. Kitchen has new cabinets and lovely quartzite countertops. Both baths have tiled showers and new vanities and toilets. Tile flooring throughout. Backyard has been landscaped with artificial grass and a large gazebo. Great place for a firepit and outside seating. All in the busy community of Sun Lakes for 55+. Loads of activities ,pools, club house with the Sunset Grill and library. This is a great multi-generational home.

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