Appraisal Buzz

FEBRUARY 26, 2025

According to study data published by RentRedi , most American real estate investors intend to increase their portfolios and make large investments in renovating their existing properties in 2025, exhibiting a strong growth mindset. Some 27% of landlords nationwide intend to make renovations totaling at least $20k per property.

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Appraisal Buzz

MARCH 20, 2025

Profits and profit margins rose slightly in 2024 on typical buy-renovate-and-resell projects, but margins remained at one of their low points over the past decades, as investors continued struggling to take advantage of the nations housing market boom. The post Gross Profits on Home Flips on the Rise first appeared on Appraisal Buzz.

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Appraisal Buzz

MARCH 14, 2025

Beyond its main purpose, the housing industry starts a number of initiatives that boost economic expansion and increase GDP through home sales, renovations, and construction. To upgrade and customize their living areas, these new homeowners frequently spend money on furniture, appliances, services, and home renovation projects.

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Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. Four renovations to consider before selling your house. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. Scenario 2: Your home appraisal comes in low.

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Appraisal Buzz

NOVEMBER 15, 2024

Forty-three percent of people who are remodeling or intend to renovate their homes are doing so in order to raise their home’s equity. Of those surveyed, over half (54%) had utilized a HELOC or HE Loan for renovations. The post Homeowners Staying Put Amid Low Housing Supply, Leveraging Home Equity appeared first on Appraisal Buzz.

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Appraisal Buzz

FEBRUARY 6, 2025

Even middle-aged couples often welcome their aging parents into their homes and must renovate their space to accommodate their changing needs. Lenders can provide expert guidance on options like renovation loans, home equity solutions, and reverse mortgages.

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Housing Wire

SEPTEMBER 19, 2023

One of the final hurdles to clear is the appraisal , and it has the power to leave a deal dead in the water. What is a real estate appraisal? A real estate appraisal is the assessment of a property’s value. Appraisals are required for homes financed with any type of mortgage. Why are appraisals important?

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Appraisal Buzz

APRIL 8, 2024

The Dawn of a New Appraisal Era In the ever-evolving realm of technology, few innovations have garnered as much attention and promise as blockchain. One of its most intriguing applications lies in the domain of appraisals. Understanding the Basics: What is Blockchain?

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Cleveland Appraisal Blog

SEPTEMBER 3, 2021

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. Let’s talk about three areas of a listing that, when completed accurately, can help appraisers to develop more supportable opinions of value. An appraiser may miss that sale through no fault of their own.

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Appraisal Buzz

FEBRUARY 3, 2025

For example, in New York City, tax exemptions of up to 90% are available for renovated buildings that contain at least 25% affordable flats. One notable project is the renovation of Pfizers former global headquarters at 219 E 42nd St., The Midwest comes in second with 18,038 upcoming renovation projects. Washington, D.C.

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Appraisal Buzz

FEBRUARY 13, 2025

The survey also found that 27% of respondents used AI to visualize potential renovations or changes to a home. The post AIs Impact on the Homebuying Journey appeared first on Appraisal Buzz. Click here for more on the report by Veterans United Home Loans on the use of AI in home shopping.

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Appraisal Buzz

OCTOBER 15, 2024

Home Renters Value Skipping Upkeep and Remain Content in Their Rentals Home renters are nothing if not realistic about their alternatives, despite their desire for renovations. The post Renting vs. Buying: Single-Family Homes Offer Tenants More Options appeared first on Appraisal Buzz.

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Housing Wire

FEBRUARY 18, 2022

Fannie Mae recently announced that it will begin to “include a desktop appraisal option in Desktop Underwriter beginning March 19, 2022. Automated Valuation Models (AVMs) are commonly used today in the mortgage industry to help support the appraiser’s concluded value. AVMs do not account for upgrades or renovations.

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Appraisal Buzz

MARCH 25, 2025

Profits and profit margins on flips increased slightly in 2024 on typical buy-renovate-and-resell projects, but remain near 10-year lows. The latest nationwide return on investment (before accounting for mortgage interest, property taxes, renovation expenses and other holding costs) was up from 28.6% in 2023 and from 29.4%

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Housing Wire

AUGUST 2, 2022

The Department of Veterans’ Affairs announced last week that it would allow desktop and exterior-only appraisals for some transactions. In a department memo, the VA explained that the move was a response to “high demand for appraisal services and limited availability of appraisers in certain local market areas.”.

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Housing Wire

FEBRUARY 25, 2025

Constitution Lending rates and terms Interest rate 9.5 - 12% Loan-to-value Up to 75% for purchase loans, up to 90% for renovation financing Upfront fees 2-4% of loan amount Credit requirement 600 Minimum Credit Score Investing experience None required, but a strong business plan can help odds of approval. Do hard money lenders check credit?

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Cleveland Appraisal Blog

NOVEMBER 3, 2022

Most appraisers are experiencing a significant slowdown in mortgage lending work due to rapidly increasing mortgage rates which are slowing down the housing market. Mortgage lending work is only one type of business where appraisals are needed. Mortgage lending work is only one type of business where appraisals are needed.

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Appraisal Buzz

MARCH 10, 2025

The post Consumers Delay Life Plans Amid Inflation Pressures appeared first on Appraisal Buzz. Financial Trade-Offs: Life Plans Put on Hold With higher prices stretching household budgets, 60% of Americans say they are making tough financial choices, and 55% report delaying major life plans.

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Appraisal Buzz

JANUARY 9, 2025

The post HUD Streamlines Affordable Housing Regulations appeared first on Appraisal Buzz. Click here for more on HUDs HOME Investment Partnership Program (HOME). The post HUD Streamlines Affordable Housing Regulations first appeared on The MortgagePoint.

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Appraisal Buzz

MAY 20, 2021

The post More Millennials Investing in Home Renovations appeared first on theMReport.com. The post More Millennials Investing in Home Renovations appeared first on Appraisal Buzz. Low inventory and tight supply have forced many into home purchases requiring more work than initially anticipated.

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Appraisal Buzz

AUGUST 10, 2021

The post Homeowners’ Renovation Spending Doubled Since 2001 appeared first on DSNews. The post Homeowners’ Renovation Spending Doubled Since 2001 appeared first on Appraisal Buzz. The remodeling industry has responded with shifts in scale and specialization, according to a study by Harvard’s JCHS.

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Miller Samuel

JUNE 6, 2024

I walked a few blocks from our Manhattan office to the Wall Street Journal to be interviewed for their digital piece on how to think about renovations in a home and their contribution to value. I get to provide sage advice from an appraiser’s perspective. The post [WSJ Digital] The Total Renovations Behind This Home’s $1.8M

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Appraisal Buzz

MARCH 25, 2025

Additionally, households led by people of color make greater contributions to the home renovation industry as the population becomes more racially and ethnically diverse; in 2023, homeowners of race accounted for 23% of improvement expenditures, up from 14% in 2003. Remodeling Demand first appeared on Appraisal Buzz. click here.

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Housing Wire

FEBRUARY 8, 2022

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic.

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Housing Wire

FEBRUARY 1, 2024

The Brookings Institution summed it up well: “Today, downtown Detroit is nearly unrecognizable from previous decades, with new features such as the QLine streetcar system, a renovated Detroit Tigers ballpark, a riverwalk, and Campus Martius Park. Young, Detroit’s 70th mayor said, “We must take the profit out of prejudice.”

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Appraisal Buzz

NOVEMBER 18, 2024

New owners used their cost savings to renovate and undercut our rent rates. The post Solving the Affordable Housing Crisis appeared first on Appraisal Buzz. For a while, we were the crown jewel of the submarket which gave us a competitive advantage when leasing. But the tide turned quickly.

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Appraisal Buzz

MAY 10, 2021

The post New Service is Designed to Help Homeowners Renovate appeared first on DSNews. The post New Service is Designed to Help Homeowners Renovate appeared first on Appraisal Buzz.

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Appraisal Buzz

FEBRUARY 25, 2025

That means house hunters dont necessarily need to break the bank for a huge down payment if it makes more financial sense to save some money for things like future home renovations or other investments. Homebuyers Putting More Down appeared first on Appraisal Buzz. All-Cash Down Payments Dwindle Roughly three in 10 (30.6%) U.S.

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Housing Wire

JUNE 1, 2021

HUD plans to launch a “first-of-its-kind interagency effort” to combat inequity in appraisals , according to a White House press release. Why use several vendors for title searches, appraisals and underwriting when you can use one? The renovations would be on a budget, however. Streamline by combining services.

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Appraisal Buzz

OCTOBER 29, 2024

The Asian Americans for Equality (AAFE) community development organization also supports ADU renovations through its Landlord Repair Fund, helping to bring non-compliant ADUs up to code and ensure safety for residents. The post Nonprofits Leverage ADUs to Tackle Affordable Housing Crisis appeared first on Appraisal Buzz.

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Appraisal Buzz

AUGUST 5, 2021

Freddie Mae has announced a new single-close mortgage product that will allow homeowners to finance the cost of small scale renovations. The CHOICEReno eXPress will allow homebuyers to make cosmetic renovations , such as replacing windows and doors, roof repairs, minor remodeling and interior or exterior painting.

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Appraisal Buzz

SEPTEMBER 5, 2022

This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The Recent History of Appraisal Revisions. Complexity in Process and Properties.

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Housing Wire

AUGUST 27, 2021

Renovations Can Be Beneficial. If you refinance your home after you’ve made upgrades, your home will most likely appraise higher than when you bought it. Renovations might make you feel better about putting your home on the market one day. Average cost: $26,214 Average resale value: $18,927 Cost recouped: 72.2%. Bottom Line.

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Housing Wire

APRIL 20, 2021

After months of slogging through a string of disappointments, Patrick turned to a renovation loan and started looking at fixer-uppers. Snover said that few real estate agents suggest that buyers purchase a home with a renovation loan, sometimes because they are unfamiliar with the process — which has its complexities.

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Cleveland Appraisal Blog

JUNE 17, 2022

When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated. This is an important question to answer when appraising a property. Thanks for being here!

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Appraisal Buzz

JANUARY 30, 2025

The post Non-Mortgage Homeownership Costs Shock First-Time Buyers appeared first on Appraisal Buzz. That represents an estimated $547 monthly increase from 2024 and is almost equal to the average households annual mortgage payment of $26,508.00.

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Appraisal Buzz

NOVEMBER 4, 2024

Appraisal Map Inc. The new tool enhances automated home valuations by factoring in property condition, updates, and renovations, addressing a key gap in other automated models. The post Appraisal Map Launches AVM Optimizer appeared first on MortgageOrb. in a release.

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