In response to the financial world crashing in 2007/2008, I pursued and received my Certified Distressed Property Expert (CDPE) certification to help people sell their distressed properties. In addition to selling their property in a short sale to avoid foreclosures, we introduced our clients to credit repair solutions to prepare them to purchase property again. It was both a very gratifying and emotional time period as we were able to really contribute to a financial change for our clients. These buyers are called Boomerang Buyers. Per Daren Blomquist, Vice President of Realty Trac, 700,000 of the 7.3 million home owners that went through foreclosure or short sales during the financial crisis are eligible to get a loan and become property owners again. There are many loan products that are making it a bit easier to find a loan that is right for most people’s situations and this time, there are property options from Homestead to Palm Beach county.
As the financial crisis impacts non-U.S. citizens in Brazil, Canada, and Russia their buying power decreases. Our market has felt the effects of that this year. Fortunately, moving into 2016 we will see the re-emergence of the Boomerang Buyers. I certainly look forward to working with them again.
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