Are You A Rebound Home Buyer

Dated: 06/06/2019

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Are you a Rebound Home Buyer?

According to CoreLogic, from 2006 to 2014 “there were 7.3 million housing foreclosures and 1.9 million short sales.” The hesitation 

some home buyers feel after experiencing a foreclosure, short sale and bankruptcy  brings to mind the old saying: 

Fool me once- shame on you. Fool me twice- shame on me.


According to the 2019 Home Buyer Report from NerdWallet,

    “Thirteen percent of Americans have lost a home due to a financial event such as foreclosure in the past 10 years. 

    More than 6 in 10 of them (61%) have not bought a home since, and 20% of those who haven’t repurchased say they 

    never plan to again.”


This makes sense. Rebound buyers don’t want to experience the same pain again. The Cornerstone of the American dream, nobody 

wants to lose a home. It's like riding a bike: Recall learning to ride your first bike during your childhood. Did you stop riding 

it because you fell on the ground and scraped your knees? Or did you get back on and try again until you were able to ride without 

falling?  Got got back on and learned how to ride a bike!!!


Purchasing a home is not as simple as learning to ride a bike, but the concept is the same! There are many things necessary to learn that affect the ability to get the financing needed to 

purchase a home. Past occurrences can determine if there is a waiting period. In other words, you need to let your knees heal before you try again! 


As we’ve mentioned in the past, home ownership has many financial and non-financial benefits. Each person needs to go over the pros and cons, taking the time to figure out what is best 

for their family. Should they continue renting, or should they try to buy again?


The good news is that some “rebound buyers” are getting back into the market and are successfully purchasing homes!!!

        “Of 2.8 million former homeowners whose foreclosures, short sales or bankruptcies dropped off their credit reports from January 2016 to November 2018, 

        11.5% have obtained a new mortgage, according to a study by credit rating agency Experian for USA Today.”  


NerdWallet’s report also mentioned:

* 6% plan to buy a house this year.

* 39% intend to buy over the next 3 years.

* 58% say they will purchase within 5 years.

Bottom Line

If you lost a home due to a financial event but would like to review your options, contact Team Caropreso who has the education and experience to help you 

create a plan to obtain a home in the future!

Blog author image

Vince Caropreso

Being the CEO and Team Leader of Team Caropreso, Vince specializes in Listings, Marketing, REO/Foreclosures,Short Sales and working with Investors. With 19 years of experience and selling over 700 hom....

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