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How Boomerang Buyers are boosting the St. George Real Estate Market
Manage episode 152344140 series 1057260
محتوای ارائه شده توسط Jeremy Larkin. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Jeremy Larkin یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
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Today, we're going to talk about “Boomerang Buyers” and how they affect the real estate market both locally and nationally. A “Boomerang Buyer?..What is THAT?” Great question.
A boomerang buyer is someone who lost their home in a foreclosure or short sale in the housing crash, and who needed time to improve their credit in order to purchase another home. Now that their credit is back in shape, it's really affecting the market.
Starting in 2006, over 7 million homeowners went through short sales or foreclosures. In 2015, 350,000 homes were sold to return buyers. A.K.A. “Boomerang Buyers.”
According to the National Association of Realtors, up to 1 million consumers have restored their credit, and 2.2 million consumers are expected to restore their credit in the next five years. That means that there will be up to 2.2 million buyers coming back into the market over the next five years.
In spite of going through a foreclosure, nearly all of these consumers say they want to buy a home again. They see the value of owning a home vs. renting. After all, if you're going to pay a mortgage, it might as well be your own!
The “boomerang effect” has sustained the St. George real estate market through the heat of summer – a time when we almost always see a fairly strong dip in St. George real estate sales.
In spite of going through a foreclosure, nearly all of these consumers say they want to buy a home again. They see the value of owning a home vs. renting. After all, if you're going to pay a mortgage, it might as well be your own!
The “boomerang effect” has sustained the St. George real estate market through the heat of summer – a time when we almost always see a fairly strong dip in St. George real estate sales.
During summer (June-August) 2014, 919 residential sales too place in Washington County versus 1136 during the same time period in 2015…an extra 217 home sales! That’s $54 million in total value, a serious figure. And we believe that boomerang home buyers had a strong part in that increase
If you have questions about this video, or about your home value, please give me a call or send me an email. I'd be happy to help you!
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