Remove 2019 Remove Construction Remove Renovations
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Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

Once the transfer of ownership occurs at foreclosure auction, a distressed property can be renovated and returned to the retail market as affordable housing for homeowners or renters. “[I My renovated homes are] reducing the number of rental properties , which in our town has become a source of demise.” In 2019 the number was 200,000.

Inventory 435
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These markets are attracting the most out-of-state real estate investors

Housing Wire

Green gave the example of a Fort Wayne, Indiana, property he purchased on Auction.com via a bank-owned (REO) auction in July 2019. Following extensive renovations that took nearly a year to complete, the property was resold to an owner-occupant buyer in July 2020. That was up from 20 percent in 2019 and 50 percent in 2018.

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Opportunities to improve the home-building process

Housing Wire

While mortgage rates are at an all-time low, people looking to buy their first home — particularly millennials, who accounted for half of all new home loans in 2019 — have a limited and aging stock of houses to choose from. Construction has traditionally been slow to pick up new technology compared to other industries.

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How to Build Volume in Today’s Market

Appraisal Buzz

Strategic Solutions for Today’s Homebuyers New construction financing and meeting the demand for new homes: According to the National Association of Home Builders (NAHB), in March, 33% of all home sales were new construction financing. That is a significant increase from the 13% average between 2000-2019 in new construction.

Marketing 396
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Institutional SFR players are stuck in the doldrums

Housing Wire

The lawsuit claims further that the company “ignored permitting laws to avoid fees and increased taxes as well as to get renovated homes on the rental market as soon as possible.” Invitation Homes (IH) spent about $25,000 on renovations per home for its California SFR portfolio, pleadings in the lawsuit state.

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How LOs are dealing with a mortgage rate lockdown

Housing Wire

This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. million, below the 2019 range of 1.52 During the past 18 months — when refis were low-hanging fruit — the LO closed around $3 million a month. And it’s going to get worse. million to 1.93

Mortgage 397
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SFR, fix-and-flip sectors are in a ‘bit of a malaise’

Housing Wire

Fix-and-flip investors — who tend to be smaller entrepreneurial players — acquire, renovate and then sell existing single-family homes — and, in some cases, hold them for rent for a time, depending on market conditions. It remained way below the 44.6% level from the second quarter of 2022 and far beneath a recent peak of 60.8%

Investors 448