Boomerang Buyers are Back in Lancaster Co., PA !

By
Real Estate Agent with KW Elite
https://activerain.com/droplet/56Gl

More Boomerang Buyers Are about to Enter the Lancaster Market

More Boomerang Buyers Are about to Enter the Market | MyKCM

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.

More Boomerang Buyers Are about to Enter the Market | MyKCM

 

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!

It is crucial  for your Retirement planing to own at least one piece of Real Estate , Free & Clear by the end of your vocational life ! Your first step is to obtain Mortgage Pre-Approval . Email mikeperrykw@gmail.com to get started .
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Don Hess 08/23/2017 01:29 PM
Topic:
Home Buying
Location:
Pennsylvania Lancaster County Lancaster Willow Street
Groups:
ABR-Accredited Buyer Representatives
Keller Williams Active Rain Bloggers
Keller Williams
Keller Williams Realty Referral Group
Advice for Sellers
Tags:
obtaining a mortgage
obtaining credit
boomerang buyers
west lampeter real estate news
penn manor real estate news
solanco real estate news
conestoga valley real estate news
hempfield real estate news
obtaing preapproval

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Rainmaker
3,449,710
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Michael. May we all be ready when the boomerang buyers reach their zenith! Enjoy your day!

Aug 23, 2017 05:17 AM #1
Rainmaker
1,574,016
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Michael J. Perry Excellent blog with the numbers to prove your position. We have not seen these buyers for some time, but we are glad you are involved with them.

Aug 23, 2017 05:56 AM #2
Rainmaker
3,105,165
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I am quite happy the amount of buyers who are coming back to me after having sold their short sale some 6 years earlier Michael J. Perry 

Aug 23, 2017 06:21 AM #3
Rainmaker
3,984,969
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

This group is a big reason we have such a shortage in our area.

Aug 23, 2017 06:37 AM #4
Rainmaker
270,237
Don Hess
KW Elite Keller Williams 1280 Plaza Blvd. Lancaster, PA 17601 - Quarryville, PA

I'm glad that these folks are finally on the path to recovery. These have been tough times for them. 

Aug 23, 2017 01:43 PM #5
Rainmaker
3,274,646
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Nice that there is a light at the end of the tunnel. Welcome back boomerang buyers across the country!

Aug 24, 2017 04:10 AM #6
Rainmaker
1,864,902
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

353  views to date

Dec 31, 2017 01:33 PM #7
Rainer
212,800
Laura T. Perry
Keller Williams Elite - Lancaster, PA
CRP, GMS, Award Winning Relocation Specialist

We are starting to see these buyers re-enter the market . 2018 might break sales records !

Feb 25, 2018 09:15 AM #8
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Rainmaker
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Michael J. Perry

Lancaster, PA Relo Specialist
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