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Survey: Cluttered Yards and Neighbors’ Junk Can Slash Home Values

Appraisal Buzz

What if a neighbor is the clutter-collecting culprit—could the adjacent property take a home-value hit? A team of researchers for StorageUnits.com surveyed some 500 licensed agents to determine how clutter in and around a seller’s home, as well as the surrounding neighborhood, impacts a property’s asking price.

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Climate risk is rising. It calls for a rethinking of home insurance coverage

Housing Wire

In California, where more than 7,000 wildfires occurred last year, the typical homeowner in many ZIP codes paid premiums as low as 0.05% of home value, according to the Times. By contrast, in parts of Alabama, Oklahoma, Louisiana and Texas, the average homeowner paid premiums of more than 2% of local home values.

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CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages

Housing Wire

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

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Property taxes have been rising. Here’s what it means for housing

Housing Wire

That, combined with higher home valuations from sales last year, has meant that the average homeowner will pay an extra $130 annually in tax through fiscal year 2024, according to the county. single-family home was $3,901, up 3% compared to 2021, ATTOM reported. But home values and taxes have shot up in several neighborhoods.

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Reverse mortgage educators look to correct the record on credit lines, equity modeling

Housing Wire

There is definitely a servicing waterfall that is important to keep in mind for tax and accounting purposes, Hultquist explained. This makes it important to continue leaning away from definitive statements, as the pair previously explained. The issue is the definitive statements made by such language.

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Property condition information that’s cloud-based – “Word cloud” based

Housing Wire

It is feasible to obtain details on a property’s quality and condition; Fannie Mae and Freddie Mac have even established specific definitions for rating and standardizing these factors. Detailed definitions of these rating points can be viewed in the Fannie Mae and Freddie Mac Uniform Appraisal Dataset Specification. .

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What it’s like originating reverse mortgages in Montana

Housing Wire

Home values and vast acreage Home values can also vary wildly. I live in an area where the median home price is $2.4 Montana’s popularity has increased, partly due to shows like ‘Yellowstone,’ leading to more custom and off-grid homes,” he explained.

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