Boomerang Buyers

homes for sale in Northern VirginiaBuyers who lost homes in the past five years, will purchase an estimated 10% of the homes sold in 2013. Approximately 500,000 buyers who may have thought they wouldn’t own a home anytime in the near future will be homeowners again.

Several million of these previous homeowners will purchase again in the next eight years per estimation.  This kind of activity will contribute significantly to homes for sale in Northern Virginia and the housing recovery.

Some people thought that the housing crisis would cause a shift in values placed on owning  homes for sale in Northern Virginia but the boomerang buyers definitely don’t support that theory.  Having a home of your own, where you can raise your family, share with your friends and feel safe and secure is still part of the American Dream.

Increasing prices, rising rents and low, low mortgage rates are also influencing buyers into the market.  In many cases, it is cheaper to own than to rent.

All new buyers, including those who have experienced foreclosures or bankruptcies, must have good credit history and the ability to repay the loan.  Reestablishing credit may not take as long as some would-be buyers might have previously thought.

If you are one of these “Boomerang Buyers,” I can assist you with your new purchasing process. We can review homes for sale in Northern Virginia and find your dream home. Contact me today!

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