Don’t Ignore Boomerang Buyers

I have to say – when the real estate market crashed it was heart breaking for me to watch and live through.  Now that we’ve recovered and our market on the San Francisco Peninsula is booming – I am happy to see people getting back into homeownership.  What can The Caton Team do for you?

Enjoy this article from the Daily Real Estate News …


Don’t Ignore Boomerang Buyers


The housing market is ignoring the largest pool of prospects: Boomerang buyers, according to Daren Blomquist, vice president of RealtyTrac.

Boomerang buyers are former home owners who lost their home to a foreclosure or short sale. After sitting out of the market for several years to rebuild their credit, these buyers may be inching back to the market looking for a second chance at home ownership.

There are an estimated 7.3 million potential boomerang buyers, Blomquist says. “If we magically had 7.3 million more home owners, the home owner rate would be back to historic norms,” he notes.

Boomerang buyers mostly consist of Generation Xers and Baby Boomers. “They are the ones who are likely to come back and become home owners again than the millennials,” Blomquist says.

In a report earlier this year, RealtyTrac noted that Generation X and Baby Boomer “boomerang buyers” could “represent a massive wave of potential pent-up demand that could shape the housing market in the short term even more dramatically” than the millennials’ entrance into home ownership.

“The markets most likely to see the boomerang buyers materialize are those where there are a high percentage of housing units lost to foreclosure but where current home prices are still affordable for median income earners and where the population of Gen Xers and Baby Boomers … have held stead or increased during the Great Recession,” RealtyTrac notes in its report.

The metros expected to potentially see the most boomerang buyers over the next eight years are: Phoenix-Mesa-Scottsdale, Ariz.; Miami-Fort Lauderdale-Pompano Beach, Fla.; Detroit-Warren-Livonia, Mich.; Chicago-Naperville-Joliet, Ill.-Wis.; and Atlanta-Sandy Springs-Marietta, Ga.

Source: “Housing Market Recovering in 2015,” RealtyTrac (March 25, 2015) and “Get Ready for the Return of 7.3M Ex-Owners,” REALTOR® Magazine Daily News (Jan. 27, 2015)


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The Caton Team - Realtors

Sabrina & Susan are native Californians - born and raised in the Silicon Valley with a passion for Residential Real Estate. A mother and daughter-in-law duo called - The Caton Team. With over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text at: 650-799-4333 | Email The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. The Peninsula is our backyard - let us help make it yours. We represent Buyer’s and Seller’s throughout the Bay Area. The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?

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