Az real estate 2 8 15

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AZ Real Estate REACH US

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7 ways to modify your home*

CATHERINE REAGOR REAL ESTATE

Ă„ ‘Boomerang buyers’ could give boost to Valley market

BEFORE BEFORE

*as you age GREMLYNN WADDELL SPECIAL FOR THE REPUBLIC

Nothing beats home. It’s where many of us want to stay for as long as possible, even as we age. And, yet, the varied aspects of senior life — impaired vision, arthritis and limited mobility — can make staying home a challenge. Thanks, however, to smart modifications — like adding grab bars in the bathroom or improving lighting in a hazardous hallway — the concept of “aging in place� is more possible now than ever. Once something of a buzzword, “aging in place� is now a specialty designation in the homebuilding industry. In fact, remodeling professionals with the National Association of Home Builders (NAHB) have joined together with AARP, the NAHB’s 50+ Housing Council and Home Innovation Research Labs to develop the CAPS, or Certified AgingIn-Place Specialist, program. The designation is not a requirement for remodelers, but those in CAPS undergo training and learn how to build tasteful, barrier-free living spaces suited to the needs of older adults. “They know how to talk to a family

Remove rugs to avoid tripping A variety of colors and textures is pleasing to psyche Lower counters and add base cabinets Buy flooring that minimizes risk of falling Replace doors so they are wheelchairaccessible

"Good design makes life better." DECASTRO PHOTOGRAPHY

BONNIE LEWIS

Above: A before photo of a bathroom in need of "aging in place" modifications.

OWNER, 55+ TLC

Top: The after photo of a bathroom with "aging in place" modifications.

INTERIOR DESIGN

See MODIFICATIONS, Page R3

Many former homeowners could start buying again this year and give metro Phoenix’s housing market a much-needed boost. They are called boomerang buyers because they were thrown out of the mortgage market after foreclosures or short sales during the crash but now can qualify for a home loan again. Most lenders require a seven-year sitting out period for borrowers who default on home loans. That waiting period is over this year for the first wave of people to lose houses during the crash. A new report from national real estate research firm RealtyTrac says as many as 350,000 boomerang buyers could purchase metro Phoenix houses between now and 2022. That’s about how many Valley houses were foreclosed on or sold through short sales during the crash. National housing analyst John Burns calls Phoenix the third-biggest U.S. market for boomerang buyers. Riverside-San Bernardino, Calif. is ranked No. 1 and Los Angeles is No. 2. The boomerang home-buying trend actually started a few years ago in the Valley, but then stalled in 2014 with the rest of the housing market. Some boomerangers, who went through short sales or handed their house keys over to the federal government’s mortgage giants Fannie Mae and Freddie Mac, didn’t have to wait seven years. The first wave of these buyers really started in late 2012, as little as three years after a foreclosure for some of them. Real estate agent Phyllis Borchardt was was one of the Valley’s first boomerang buyers. She and her husband, Larry, were able to qualify for a VA loan in mid-2012, after being forced to sell their Buckeye home through a short sale in 2010. The couple lost jobs and income due to the recession. They applied for a federallybacked home loan modification but weren’t approved in time to save their house. The couple was able to buy again three years later, but Phyllis Borchardt said getting another “mortgage wasn’t easy.� See REAGOR, Page R3

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