Appraisal Buzz

FEBRUARY 3, 2025

It seems the Big Apple seems to stay on some sort of list when it comes to the housing market, doesnt it? For example, in New York City, tax exemptions of up to 90% are available for renovated buildings that contain at least 25% affordable flats. In a similar vein, the Housing in Downtown initiative in Washington, D.C.,

Renovations 345

Renovations Construction Modernization Inventory 345

Appraisal Buzz

NOVEMBER 18, 2024

New owners used their cost savings to renovate and undercut our rent rates. This experience taught me a crucial lesson: in real estate, you must always be prepared for market shifts (because it ALWAYS shifts). Diminished Development Capacity: As developers struggle, new construction grinds to a halt. But the tide turned quickly.

Development 335

Development Finance Real Estate Housing Market 335

Housing Wire

JUNE 24, 2024

The Seattle area is a hot housing market. But a nonprofit organization in the Seattle area is seeking to help more seniors renovate their homes to age safely. Overall Seattle-area construction costs have stabilized in the last year, but remain 40% higher than pre-pandemic,” the Times noted. year over year.

Renovations 393

Renovations Property Taxes Supply Chain Law 393

Housing Wire

OCTOBER 24, 2024

The most powerful evidence of equity stripping shows up in subsequent resales (flips) of pre-foreclosure purchases that occur within 30 days of the original pre-foreclosure sale — indicating the pre-foreclosure buyer would have little time to add value to the property through renovation. I give them everything. Here are your options.

Retail 448

Retail Buyers Renovations Finance 448

Housing Wire

FEBRUARY 6, 2025

It reflects another pressing issue of imbalanced supply and demand in the housing market. Buyers want affordable new homes, yet new construction listings are still playing catch up with their high-priced counterparts. Construction loans Inventory levels in the real estate market arent what they used to be.

Mortgage 306

Mortgage Training Construction Investors 306

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. He got his house, albeit with cabinets that hadn’t been updated in 25 years. Most buyers want a move-in ready home, and few want to put up with the hassle of hiring a contractor.

Renovations 468

Renovations Real Estate Agent Construction Buyers 468

Housing Wire

AUGUST 17, 2020

Additionally, remodel volume – a subset of maintenance that includes renovations, additions, and alterations – increased 2.59% while spend decreased 1.59% year over year. Last month, Buildfax estimated if single-family authorizations and existing housing activity continue to gain, new construction could stabilize in the Fall.

Construction 516

Construction Renovations Marketing Housing Market 516

Appraisal Buzz

JULY 30, 2024

Surge in Home Flips In 2023, New Western operated across 42 markets, where there were 185,272 new builds compared to 163,894 home flips. The report notes that vacant or uninhabitable homes that have been flipped contribute new inventory comparable to new construction. below the median sales price.

Real Estate 397

Real Estate Investors Renovations Construction 397

Housing Wire

JULY 16, 2024

Exemptions would be provided to new construction and units with “substantial” renovation and rehabilitation. While the odds are stacked against this proposal ever passing Congress, a federal rent control law would be catastrophic to renters and our nation’s rental housing market.” Also on Tuesday, the U.S.

Landlords 488

Landlords Construction Land Management Tenants 488

Housing Wire

JANUARY 9, 2024

Here are a few trends in financing that will continue to catalyze the construction of more ADUs: Expanded access to mortgage financing The Federal Housing Authority announced a new policy in October 2023 that has made it easier to finance construction of new ADUs, as well as making it more achievable to buy or refinance a house with an existing ADU.

Finance 501

Finance Construction Tenants Renovations 501

Appraisal Buzz

FEBRUARY 11, 2025

He is the CEO and Founder of Bluebird Lending, a national private lender servicing real estate developers and investors with an array of loan products to acquire, construct, and refinance residential and multifamily properties. Michael has renovated and built from the ground up, over 75 single-family homes for sale and rent.

Real Estate 269

Real Estate Finance Development Investing 269

Appraisal Buzz

APRIL 11, 2022

The housing market has been a roller coaster ride since COVID-19 began, and it hasn’t shown signs of stopping in 2022. Here are some buyer relocation trends to watch out for in 2022’s hectic real estate market. Millennials Still Prefer Renovating. More Second Home Purchases. 2021 to Jan. Greater Demand for More Space.

Buyers 370

Buyers Renovations Supply Chain Housing Market 370

Cleveland Appraisal Blog

MARCH 30, 2021

So many visitors have stopped by over the years, that they renovated the area to make it more visitor friendly, with better parking and a nicer observation area. This fish phenomenon reminds me of the housing market today. It is likely that the market data just doesn’t support the price. It is free to visit.

Housing Market 368

Housing Market Marketing Reconsideration of Value Contracts 368

Housing Wire

MAY 8, 2023

That key source of affordable housing inventory: distressed properties sold to third-party buyers or repossessed by lenders at foreclosure auction. 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

Inventory 435

Inventory Renovations Supply Chain Buyers 435

Housing Wire

DECEMBER 30, 2022

Mortgage demand picked up in recent weeks due to rates declining to 6% levels and a massive backlog of homes under construction, as mentioned by HousingWire ‘s lead analyst Logan Mohtashami in a recent column. At least not in the foreseeable future, unless another pandemic would create favorable conditions for the housing market.

Renovations 435

Renovations Realtors Construction Mortgage 435

Housing Wire

JULY 7, 2023

Manufacturing activity remains quite weak, while consumer spending has held up somewhat better, and new home construction and sales have picked up. Employment in the construction industry has increased by an average of 15,000 per month thus far this year, compared with an average of 22,000 per month in 2022.

Construction 370

Construction Renovations Government Inventory 370

Housing Wire

JANUARY 3, 2024

With housing generally unaffordable compared to its neighbors, Aspen has provided some housing for teachers for decades, but it doubled down on this effort in the last two years – spending $40.8 million over that period to acquire 52 units and renovate several of its 50 existing units.

Landlords 488

Landlords Home Value Construction Renovations 488

Housing Wire

APRIL 27, 2021

Atlas Real Estate and DivcoWest declared last week that they will spend $1 billion “acquiring and renovating homes in high-growth states including Colorado, Arizona, Idaho, Nevada, and Utah,” according to a press release. Another partnership of asset management giants has announced a major investment in single-family rental homes.

Real Estate 370

Real Estate Renovations Retail Inventory 370

Housing Wire

AUGUST 4, 2023

Employment in the construction industry continued to trend up in July, adding 19,000 jobs, especially in the residential construction space. The ongoing shortage of housing inventory helped spur an increase in home building and home improvement activity, Kan said.

Marketing 367

Marketing Construction Renovations Home Improvement 367

Housing Wire

OCTOBER 10, 2023

We’ve all witnessed the housing market slowdown that has occurred over the last year. Across the country, homes are spending more days on the market as interest rates rise. When making pre-listing repairs or renovations, different projects can result in vastly different returns.

Home Improvement 482

Home Improvement Real Estate Agent Sellers Real Estate 482

Housing Wire

JULY 6, 2023

This, in part, is causing the tight inventory we’re seeing in the housing market today, as two out of every three houses have mortgages with interest rates below 4% and aren’t motivated to sell their house unless a significant circumstance warrants it.” million more housing units to meet existing demand.

Inventory 488

Inventory Renovations Real Estate Government 488

Housing Wire

JUNE 30, 2022

The housing market has undergone a significant transformation over the past two years. While a booming market kept brokers busy in 2021, the 2022 housing market has been underscored by rising interest rates, inflation and geopolitical turbulence.

Lending 370

Lending Housing Market Technology Business 370

Housing Wire

MARCH 22, 2023

The program provides direct loans to Native American veterans and veterans who are married to Native American non-veterans to help with the purchase, construction or renovation of a home on trust land. The program is separate from the broader VA loan program that is available to all veterans.

Mortgage 418

Mortgage Renovations Insurance Construction 418

Cleveland Appraisal Blog

DECEMBER 24, 2022

Are you planning on renovating your home? What to Expect When Undertaking These 4 Common Home Renovation Projects. When home improvement gives way to major renovations, the implications can be more impactful than you might realize. However, you must be aware of your budget and timeline before committing to a kitchen renovation.

Renovations 308

Renovations Appraisal Home Improvement Buyers 308

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. The after-repair value is the estimated market value of a property in fully repaired condition. in Q1 2023.

Marketing 476

Marketing Investors Real Estate Investing 476

Housing Wire

DECEMBER 5, 2024

In September, HUD announced updates to its manufactured housing construction and safety standards. In June, HUD announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured home communities under an FHA-sponsored loan program.

Land Lease 417

Land Lease Renovations Modernization Design 417

D Fritz Appraisals

SEPTEMBER 11, 2023

Major Home Renovations & Home Appraisals: What You Should Know Are you planning house renovations and want to know the best home improvement investments? Or maybe you are planning to sell your house and are wondering about renovations that increase home value the most. Fritz Appraisals Inc.

Renovations 123

Renovations Home Value Valuation Market Value 123

Housing Wire

MARCH 26, 2024

In addition, any reprieve in the housing inventory shortage created by more multifamily units hitting the market is expected to be short-lived. In recent congressional testimony , Mortgage Bankers Association (MBA) chief economist Mike Fratantoni pointed out that the housing market is now extremely supply challenged.

Investors 482

Investors Marketing Inventory Real Estate 482

Housing Wire

OCTOBER 17, 2023

The single-family rental (SFR) sector and its close cousin, the fix-and-flip market , are now essentially treading water in an environment of high interest rates , approaching 8%; high home prices; and a dearth of home-purchase inventory. He said the housing market is now riding out an environment of “low inventory and high rates.” “I

Investors 448

Investors Investing Inventory Real Estate 448

Appraisal Buzz

OCTOBER 21, 2024

This treatment recognizes that the existing improvements should continue in use until it is financially feasible to remove the dwelling and build a new one, or to renovate the existing dwelling. Assume the appraiser has not determined whether there is or is not an entrepreneurial value or profit in the market.

Market Value 293

Market Value Renovations Valuation Appraisal 293

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. 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. And it’s going to get worse. million to 1.93

Mortgage 397

Mortgage Loan Officers Inventory Retail 397

D Fritz Appraisals

JANUARY 29, 2025

For example, if youve recently renovated your kitchen, BC Assessment may not reflect the added value unless the renovation is reported, which impacts the propertys marketability. Home Appraisal: Includes detailed market analysis and accounts for specific property attributes, renovations, and upgrades.

Appraisal 78

Appraisal Valuation Property Taxes Inspection 78

Housing Wire

JANUARY 6, 2023

While he hopes the housing market may find some consistency again after a volatile year, Gallo forecasts his origination volume this year to be similar to what it was in 2022. Read on for more about Gallo’s business strategies for 2023, his general take on LO compensation and prospects for the housing market.

Business 435

Business Loan Officers Clients Inventory 435

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.

Appraisal 370

Appraisal Appraisal Process Valuation Renovations 370

Appraisal Buzz

JUNE 3, 2024

Many current sellers have begun a renovation but have run out of money prematurely as inflation has caused cost overruns and capital is less available to fund shortfalls. Do you seek to renovate a property to generate short-term gains, or would you like to purchase a stabilized property for long-term stability?

Investors 195

Investors Marketing Renovations Real Estate 195

Cleveland Appraisal Blog

JUNE 17, 2022

What’s the difference between a newly constructed home and a hundred-year-old home? 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.

Appraisal 283

Appraisal Development Market Value Tenants 283

D Fritz Appraisals

JULY 4, 2024

The BC housing crisis is top of mind for anyone struggling to enter the housing market, find a rental, or hold onto their current home during these difficult economic times. Home prices, rental rates, and property taxes continue to rise, and with those skyrocketing costs comes housing insecurity. Look no further than D.

Construction 113

Construction Government Appraisal Transportation 113