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The renovation ripple effect in underserved neighborhoods

Housing Wire

Those areas that I’m now developing I grew up in. I remember what it’s like to have slumlords,” said Jermaine Morgan, a Columbus, Georgia-based local community developer who purchases distressed property at auction. “I Collectively, local community developers like Jermaine significantly impact neighborhood stabilization nationwide.

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Planet Home Lending hires Doug Long to expand its retail branch network 

Housing Wire

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said. Its strategy has focused on acquisitions in both correspondent and retail channels.

Retail 386
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Auction Demand Weakens in Q3 as Retail Market Softens 

Appraisal Buzz

According to the survey’s findings, more local community developers who buy at auction see the state of the market as a disadvantage rather than an advantage. The post Auction Demand Weakens in Q3 as Retail Market Softens first appeared on The MortgagePoint. The survey was conducted between Sept.

Retail 370
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Regions Bank places $1B bet on home renovation market

Housing Wire

EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. Regions, a retail lender with a footprint of over 1,300 physical offices, has dipped into specialty finance sectors before. The post Regions Bank places $1B bet on home renovation market appeared first on HousingWire.

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Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle?

Housing Wire

In 2021, McCormick resold two renovated properties that she originally purchased at foreclosure sale on Auction.com in her hometown of Dayton, Ohio. Combined with thousands of other local community developers like her, McCormick’s efforts are moving the needle when it comes to quality, affordable housing for owner-occupants nationwide.

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Home inventory gains push demand for distressed properties lower: Auction.com

Housing Wire

properties sold at foreclosure auction, showed that this trend is being fueled by rising levels of inventory on the retail market. If the demand pullback continues into Q3, it would also foreshadow a slowdown in retail home price appreciation.” from May to June. On an annualized basis, five major U.S.

Inventory 416
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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.”

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