WestSound Live! http://westsoundlive.com Sponsored by Homefront Realty Tue, 22 Aug 2017 10:00:02 +0000 en-US hourly 1 https://wordpress.org/?v=4.8.1 More Boomerang Buyers Are about to Enter the Market http://westsoundlive.com/more-boomerang-buyers-are-about-to-enter-the-market/ http://westsoundlive.com/more-boomerang-buyers-are-about-to-enter-the-market/#respond Tue, 22 Aug 2017 10:00:02 +0000 http://westsoundlive.com/more-boomerang-buyers-are-about-to-enter-the-market/ More Boomerang Buyers Are about to Enter the Market | Simplifying The Market

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 | Simplifying The Market


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!

Source: Real Estate with Jo Soss

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Why Is It Important to Use a Professional to Sell Your Home? http://westsoundlive.com/why-is-it-important-to-use-a-professional-to-sell-your-home/ http://westsoundlive.com/why-is-it-important-to-use-a-professional-to-sell-your-home/#respond Mon, 21 Aug 2017 10:00:35 +0000 http://westsoundlive.com/why-is-it-important-to-use-a-professional-to-sell-your-home/ Why Is It Important to Use a Professional to Sell Your Home? | Simplifying The Market

When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the first step that “…44% of recent buyers took in the home buying process was to look online at properties for sale.

However, the report also revealed that 96% of buyers who used the internet when searching for homes purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their homes directly from a seller whom the buyer didn’t know.

Buyers search for a home online but then depend on an agent to find the home they will buy (50%), to negotiate the terms of the sale (47%) & price (36%), or to help understand the process (61%).

The plethora of information now available has resulted in an increase in the percentage of buyers who reach out to real estate professionals to “connect the dots.” This is obvious, as the percentage of overall buyers who have used agents to buy their homes has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

Source: Real Estate with Jo Soss

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