))
How Boomerang Buyers are boosting the St. George Real Estate Market
Manage episode 152344140 series 1057260
Contenido proporcionado por Jeremy Larkin. Todo el contenido del podcast, incluidos episodios, gráficos y descripciones de podcast, lo carga y proporciona directamente Jeremy Larkin o su socio de plataforma de podcast. Si cree que alguien está utilizando su trabajo protegido por derechos de autor sin su permiso, puede seguir el proceso descrito aquí https://es.player.fm/legal.
Want to see which St. George area homes are currently for sale? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You can always call us at (435) 215-4533 for a FREE home buying or selling con
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!
18 episodios
Compartir
