Boomerang Buyers : Who Are They?
Have you heard the new industry buzzword “Boomerang Buyers” yet? If not, you’re about to hear a lot more about it! Referring to previous homeowners who were foreclosed upon or had to short sale their home, most Boomerang Buyers are expected to re-enter the real estate market within five years.
Image via howstuffworks.com
The recent report suggests that a whopping 2.2 million Boomerang Buyers will become once again eligible for a mortgage in the next five years. This sheer number will invariably affect your homes value — in a good way! The demand for homes is expected to outpace the supply (even more so than we’re currently seeing in this seller’s market) which will raise home values across the region.
Are you planning to purchase a home soon after struggling with foreclosure or a short sale years ago? We’d love to help, and we have professional and helpful lenders who are educated on exactly how to make you eligible for a loan. Give us a call at 215 699-5555!