Boomerang Buyers: Why a Past Foreclosure Shouldn’t Stop You from Buying Again

Facing a foreclosure can be traumatic. Putting all of that hard work and hard-earned money into buying a home, only to have it fall through in the end, is the worst-case scenario for many buyers—enough that it may prevent them from buying again.

While it’s hard to imagine the impact that a foreclosure has, it doesn’t mean that your home-owning dreams are over. In fact, many “boomerang buyers” are gearing up to give it another go!

What is a Boomerang Buyer?

A woman on her laptop.

Following the housing crisis—from 2006 to 2014—there were 7.3 million foreclosures and 1.9 million short sales, according to CoreLogic. After going through the foreclosure process, buyers must wait about seven years before applying for mortgage again, although that timeline may be shorter if you qualify for an FHA loan.

Those buyers who have previously undergone a foreclosure but have chosen to buy a home once again have been coined as “boomerang buyers”—and now that a few years have passed, there are more and more entering the market!

The Latest Numbers

Women looking at a laptop.

The NerdWallet‘s 2019 Home Buyer Report sheds some light on the latest trends for boomerang buyers. Out of the 13% of Americans who lost a home in the past ten years, around 60% have not re-entered the market, and around 20% say they’ll never buy a home again. Those numbers are certainly cautious, and also a tad bit grim.

The good news, though? The numbers are starting to look up.

In January 2016, 2.8 million people who experienced foreclosures, short sales, or bankruptcies had those incidents dropped off of their credit report. Since then, 11.5% of them have successfully obtained a new mortgage!

Not only that, but of the 13% Americans who lost a home, 39% say they plan on buying within the next three years, and a staggering 58% say they plan to buy within the next five.

The bottom line? There’s still hope, despite past foreclosures!

Know Your Options

A family in a brightly lit room.

The most important thing for boomerang buyers going forward is to be prepared. In fact, 74% of formerly foreclosed buyers say that they will be more cautious about choosing a lender, agent, or loan.

When it comes to knowing and working with the top trusted lenders in the area, the Linda Craft & Team REALTORS® has a vast network of options. Since we’ve been working around the Raleigh area for years, we can leverage our unique expertise to ensure that you’re matched with the best possible experts in the area.

Buying a home—especially for boomerang buyers—is intimidating. But when you work with our team, we’re dedicated to laying out all of your options and helping you select the most prudent choice.

Ready to Buy Again?

Then we’re here to help. Team up with Linda Craft & Team REALTORS®, and let us help you buy your next home. With our resources, expertise, and local knowledge, we’ll ensure that your buying journey is both successful and seamless.

Give us a call today to begin exploring all your Raleigh home-buying options!

2015 Triangle Real Estate News

What’s New in the Triangle Real Estate Market

Home ownership is the American Dream! A home provides shelter, safety, and an investment that forces savings and increases in value over time – allowing you to build personal wealth. Knowing how important a good real estate investment can be to your future, let’s take a look at how the 2014 Triangle real estate market performed and the outlook is for 2015.

Trends and hot topics will be discussed, and we will answer frequently asked questions.

Included in the topic lineup:

  • Available housing
  • Luxury market
  • Distressed properties (short sales and foreclosures)
  • Interest rates
  • Home values

Raleigh real estate marketHousing Supply in the Greater Raleigh Area

The inventory of homes for sale is low in most segments of Wake, Chatham and Durham Counties. If you are considering selling a home in the greater Raleigh area, now is the time to list and sell for top dollar while there is less competition.

Traditionally, sellers wait until spring to list properties, which means they will have more competition and their odds of selling for top dollar is reduced. Home prices rise as inventory shrinks, and it is currently down 20%. If you are buying a home, this shrinking inventory means you have less to choose from and could find yourself in competition with other buyers for a home.

When more homes enter the market in the spring, a small window of more choices is created for the buyer, but more competition among sellers. Bottom line…if you are selling a home, list it now. If you want to buy a home, prepare to act fast. When you see a home you really like, don’t wait, or another buyer may beat you to it. If the right home is not out there right now, wait until spring, and you may have more choices for 30 to 60 days.

The Triangle Luxury Market

The luxury market experienced a 24% increase in homes sold in 2014, according the Triangle Multiple Listing Service. The luxury market in the Triangle (Raleigh, Durham, and Chapel Hill) is $750,000 and up.

  • 368 luxury homes were sold in the Triangle in 2013.
  • The highest sale price for 2013 was a house in Wakefield, which sold for $2,875,000.
  • In 2014, the Triangle Multiple Listing Service reported 470 luxury homes were sold.
  • The highest sale price in 2014 was $4,800,000, for a home located in Chapel Hill.

One of the reasons for the increase in luxury homes sold, is because it is currently much easier to qualify for jumbo mortgages. Jumbo loan amounts start at $417,000. We expect even higher sales numbers for luxury homes in 2015, as confidence in the real estate market continues to grow and lending is made easier.

Distressed Properties in the Triangle

Distressed properties, which are short sales and foreclosures, made up 15% of our inventory of homes for sale at one time. Now that home values have gone up, many people are once again finding themselves in a much better equity position. Distressed properties make up approximately 6% of our total current market.

However, even with great improvements, we expect it will be another 4 years before this segment normalizes. Many people are stuck in mortgages with high interest rates, or mortgage balances higher than they can sell for due to 100% financing, equity lines of credit, or loan modifications. If you are one of these homeowners drowning in debt, give us a call. Our staff is certified and experienced at finding dignified solutions for homeowners. You have options. Let us help you find the right one.

Interest Rates at an All-Time Low

Interest Rates remain at a historical low, and my expert lenders believe they will even drop slightly lower before they start rising again in the fall. Interest rates have been so low for so long that it is hard to wrap your mind around interest rates in the double digits. When I began my career in 1985, mortgage interest rates were at 16%. In fact, the national average for mortgage rates is approximately 10%.

These low interest rates are allowing home buyers to afford more housing than in years past. With money so readily available, now is the ideal time to buy a new home. Interest rates are low, and home prices are going up – a combination perfect for building future wealth if you buy now.

Wake County Home Values

In the Wake County area, home values went up in 2014. Most home owners realized a gain of approximately 4%. If you want to receive a value specific to your home and geographical area, contact Linda Craft & Team, Realtors for a free analysis, or sign up for our super cool online tool. This free online service will provide both a market value for your home, and a market trend report showing your homes future potential.

Considering Buying or Selling a Raleigh Home?

Contact Raleigh real estate experts, Linda Craft & Team, to set up a free consultation with a buyers specialist who can help you navigate the exciting Raleigh market. Call 919.235.0007 today!


Your Home May Be Worth More Than You Think

Happy RealtorYou probably wouldn’t have believed it a year ago, but today may very well be a great time to sell your home!

Prices have gone up substantially for a number of reasons, not the least of which is that more and more people are looking to buy. Couple this with the fact that inventory in the Raleigh market is low, and it becomes a simple supply and demand equation with the result being that homeowners are in the driver’s seat!

We have an online report that will provide a snapshot of your homes value and what surrounding homes have sold for. Simply visit We believe you’ll be surprised when you read it!



Are Reality Real Estate TV Shows…Real?

We are all guilty of it. We flip channels to our beloved home/garden/DIY network and fantasize about the luxurious, impressive and sometimes international homes we see. These television shows make the home buying/selling process look so seamless, and in under 30 minutes! But real life home transactions  do not go as smoothly as we have been led to believe.

Jensen and Company of Park City, UT compiled this wonderful infographic illustrating the “reality behind reality TV shows”.

As you can see, it is important to work with a real estate expert who can help you navigate through the home buying or home selling process in Raleigh. Though it might not go as smoothly as TV, we will strive to make your experience one you will be delighted with!

For expert advice please contact our office at 919.235.0007 or visit our website at We look forward to helping you!





Need Answers to Your Raleigh Real Estate Questions?

Are you interested in purchasing a home but do not know where to begin or who to talk to? Are you and your spouse thinking of taking advantage of this market and putting your house on the market and need to know what upgrades are recommended? Or do you just need a final, straight answer on if we are in a buyer’s or seller’s market?

Look no further! We are going to start answering real estate questions for you! Tap into over 150 years of real estate expertise by sending in your general real estate related questions. We will feature one on our blog every week with an answer from one of our real estate experts!

Please email with your real estate inquiries and your question may be spotlighted on our weekly blog!

Please call (919.235.0007) or visit us on the web at for all of your real estate needs. We are here to help you and your family achieve your dreams!


Raleigh Real Estate Experts : FHFA Extends HARP for Two More Years

Earlier this year, the Federal Housing Finance Agency announced that it will extend the federal refinancing initiative, The Home Affordable Refinance Program (HARP) for another twoHouse on dollar bills years. It was supposed to expire at the end of 2013 but will now be available until the end of December 2015. For some Raleigh, Wake Forest, Cary and Surrounding Wake County residents, HARP has been a huge help in keeping their home these past few years. The Raleigh real estate market is bouncing back but there is still need for specialized programs such as HARP.

What is HARP?

HARP or Home Affordable Refinance Program was established in April 2009 in response to homeowners wanting to refinance their homes but unfortunately, did not have enough equity due to the down market.

According to the FHFA Press Release from April, HARP is uniquely designed to allow borrowers who owe more than their home is worth the opportunity to refinance their mortgage. Extending the program will continue to provide borrowers opportunities to refinance, give clear guidance to lenders and reduce risk for Fannie Mae, Freddie Mac and taxpayers.

“More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk,” said FHFA Acting Director Edward J. DeMarco. “We are extending the program so more underwater borrowers can benefit from lower interest rates.”

Who Is Eligible in Wake County?

The FHFA lists eligibility guidelines for consumers on their website:

  • The loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
  • The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
  • The borrower must be current on their mortgage payments with no late payments in the last size months and no more than one late payment in the last 12 months.

For more in depth information, please visit

Here at Linda Craft & Team, we believe in working hard for our clients so they can live/continue to live in their dream home. As a Certified Distressed Property Expert and REALTOR in Wake County, Linda has the expertise necessary to save your credit, relieve the uncertainty and guide you step by step through the process.

If you ever have any questions regarding purchasing a home and the loan process, please do not hesitate to contact us at 919.235.0007. We are here for you!



Raleigh Real Estate Market Improving : Homeowners Taking Advantage of Trend

raleighHomeowners in the Greater Triangle-area who planned on selling before the housing crisis hit are finding that the market has finally shifted in their favor. Increases in prices, low inventory, and historically low interest rates have combined to put sellers in a very advantageous position.

Many homeowners stopped even thinking about selling their home because of the chaos of the last few years.  However, the trends in today’s market have put homeowners in the driver’s seat. Once they realize what a great opportunity they have, their entire outlook changes.

Many homeowners were in danger of losing their home to foreclosure as a result of the housing crisis. The shift in the market has been welcome news for them as well. One of the major issues that these distressed homeowners is that they owned more on their mortgage than their home was worth. Because of price increases, that is no longer the case for many of them.

We have developed a free report entitled, “What They Didn’t Say: The Truth About Your Home That Big Media Hasn’t Told You,” which is outlines all of the newest trends in the real estate market. The report is accessible from her website,

Linda Craft & Team, REALTORS® is a Triangle-area based, local residential real estate firm whose team mission and focus is raving fan customer service to ensure a smooth sales process. The team is the NHL Carolina Hurricanes Corporate Real Estate Sponsor. More than 6,000 families have trusted Linda Craft & Team, REALTORS® with their largest asset, their homes.

For more information or to schedule an appointment with Linda Craft & Team, REALTORS®, please call 919-235-0007 or visit


For more information about the CDPE Designation, visit

Hope Valley

Hope Valley is made up of more than 900 homes extending from Chapel Hill Road south between Hope Valley and Garrett roads to Swarthmore Road. It was laid out, by the Mebane & Sharpe Co. of Greensboro, along winding lanes and among rolling hills with a centerpiece golf course designed by Donald Ross.

National Historic Recognition

The historic core of Hope Valley, made up of more than 125 homes, has earned a spot on the National Register of Historic Places. The entire neighborhood features:

  • secluded, tree covered streets
  • manicured entry-areas to neighborhood
  • optional neighborhood association
  • 15 minutes drive to Duke/ UNC Chapel Hill main campuses
  • 10 minutes drive to fashionable Southpoint Mall
  • proximity to Hope Valley Country Club

A Taste of Old England

The streets feature names like Chelsea and Surrey, giving the hint of old England.Hope Valley is a mature neighborhood, with housing stock dating from the 1920’s to the 1960’s. An active neighborhood association features many events such as home walks, open house at the Country Club and a Halloween party. Residents have quick access to the 15-501 shopping corridor, historic Downtown Durham, the American Tobacco Trail, Southpoint mall, I-40 and I-85.

Hope Valley Country Club

Golf, Tennis, Fitness, Swim A membership club is available in the heart of Hope Valley. Read more here:

Durham Community of Hope Valley

Hope Valley features a broad range of architecture from 1500 square foot ranches to 8000+ square feet estate-style homes. Visit the Hope Valley Neighborhood Association website for more historical information and background on this wondeful community.

About the Developer of Hope Valley

As a mature neighborhood, many different developers had a hand in shaping the look of housing in Hope Valley. According to Preservation Durham:
Hope Valley was Durham\’s first full-fledged country club suburb developed around an 18-hole golf course in the late 1920s. Traces of the farms that occupied the land in the 19th Century remain around the suburban landscape created by renowned landscape architect Robert Cridland. Hope Valley was developed by Mebane & Sharpe, Inc. to attract the newly successful young professionals that were thriving in Durham\’s tobacco, textile, and health care industries, as well as faculty from the then new Duke University and rapidly expanding UNC. Read More…


I-40 to 751 Exit, North. Neighborhood is west of Hope Valley Road, before Martin Luther King, Junior Boulevard. 15-501 to Martin Luther King Boulevard, south on Old Chapel Hill Road. Neigborhood is to the east of Old Chapel Hill Road.

Ready for Your Personal Tour of Hope Valley

If so, contact Linda Craft & Team at or call 919.235.0007 to schedule your personal tour today!

See all Homes For Sale in Hope Valley

Click here to see all the current homes for sale!

Highland Oaks

The Highland Oaks subdivision in Cary, North Carolina, is located off High House Road near the intersection of SW Maynard Road & High House Rd (between Cary Parkway and Maynard Rd).  Nicely situated within walking distance to Bond Park and Greenway Trails, Maynard Crossings with restaurants, shops, and more!  In addition, Highland Oaks is convenient to RTP and RDU International Airport.

There are approximately 90 Executive-style, single family homes that range in price from the Low $400’s to over $650,000.  The neighborhood was developed from 2005 to 2007 by Pulte Homes.  Homes in Highland Oaks typically include 4-6 bedrooms, 3-6 full baths, fireplaces, bonus rooms, first floor guest suites, and daylight basements.

Ready for Your Personal Tour of Highland Oaks?

If so, contact Linda Craft & Team at or call 919.235.0007 to schedule your personal tour today!

See all Homes For Sale in Highland Oaks

Click here to see all the current homes for sale!

Highland Forest

Want the option to build a beautiful custom home? Highland Forest in North Raleigh is the perfect location to buy or build amazing custom homes in a gorgeous private wooded neighborhood. With only thirteen lots and lots from one to three acres, the neighborhood is private and quiet. A lovely landscape of hills and amazing scenic views, Highland Forest is a perfect escape from the everyday hustle and bustle.

Highland Forest community search

Ready for Your Personal Tour of Highland Forest

If so, contact Linda Craft & Team at or call 919.235.0007 to schedule your personal tour today!

See all Homes For Sale in Highland Forest

Click here to see all the current homes for sale!