Special offer

Independence, Boomerangs and Re-Entering the Housing Market

By
Mortgage and Lending with Karen Cooper | Sr Mortgage Loan Originator ! NMLS # 223305 | First Federal Bank of Florida, Ocala, FL NMLS 223305

I’m so excited! Not only is Independence Day a holiday I really enjoy celebrating, but summer is peak home buying season in many markets. As a lender, this makes me smile. As a boomerang buyer, it makes me grin ear to ear! 

 

There are a lot of predictions of the number of home buyers re-entering the market after being affected by the housing crisis. Predictions, because this crisis left a bad taste in the mouths of many of those affected. Many who never in their wildest dreams anticipated having to short sale or lose their homes, myself included.  Even with those not quite ready to put their toe in the water, there are a LOT of home buyers who have and continue to re-enter the market. There are several financing options available for those of us who have experienced that four letter word L-I-F-E, and have done our due diligence to recover.

 

Memories of the housing crisis fade into the background like labor and delivery. Those memories may never be gone completely, but no longer are as overwhelming as it was when one is eyes deep into negotiating with loss mitigation departments on foreclosure avoidance measures. A few years of being a tenant after decades of homeownership can get you fervently thinking about re-entering the market once again. 

 


When rents are in the same range as homeownership, and credit issues are resolved with the necessary rebuilding having taken place,the idea of homeownership trumps renting almost every time in my book.  Even renting a nice place in a nice neighborhood, it just isn’t as desirable as owning your own home. Quirky neighbors… Plain Jane decorating…steady rent increases…I want to pay MY mortgage down each month, not someone else’s! Here in the Greater Austin area we have a strong employment market now, with a strong real estate market, great schools/universities.  Time to put down those roots again!

Who would have guessed that just over three years from “the event”, I am a buyer under contract on a home purchase?  In addition to other significant life changes, I’m buying a home in the Austin area where I relocated for my job last year. Love Austin!  Apparently many others love Austin as well, as this market is HOT – and I’m not just talking about the Texas heat, y’all. I was in multiple offers three times before I landed the home I am buying. 

 

Thank God for an experienced, diligent Fabulous Texas Realtor Extraordinaire LeeAnn Renfrow on my team! Working for a mortgage company who originates, processes, underwrites, closes, funds and services all under one roof (who also does employee loans and sticks to Investor guidelines without adding “overlays”) is the icing on the cake I’m having and eating, too. Call me if you'd like to experience this service - I'm licensed in AL, AZ, CA, FL, GA, IA, IN, KY, MD, OH, OR, TN, TX, VA, WA and WI, and would love to share my extensive expertise with you for financing in these states.   

I’m so excited…and so grateful to be blessed with so much to celebrate!

Posted by

Karen Cooper Southern Oregon|California Mortgage ConsultantKaren Cooper - Home Lending Advisor Nationwide

               NMLS #223305

 

Comments (0)