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Boomerang Buyers are Coming Back
Bend Homebuyers Coming Back
The first wave of "boomerang buyers", those homeowners who lost their homes due to foreclosures and short sales during the 2008 real estate "crash", are now "re-entering the market" in the Bend and national real estate markets as the seven-year window passes necessary to repair their credit and again qualify for buying a home. An estimated 7.3 million boomerang buyers are expected to re-enter the US markets over the next seven years starting in 2015 and increasing each year in number through 2018 before tapering off until 2022. According to RealtyTrac, the markets most likely to see the most boomerang buyers will be those with the highest percentage of foreclosed homes along with the lowest median home prices and a largest amounts of Gen-X'rs and Baby Boomers such as Las Vegas Nevada, and Merced or Stockton California. However, we expect to see boomerang buyers in all markets including Bend and Central Oregon real estate markets over the next 7 years as buyers are once again able to qualify for home loans.