Remove Insurance Remove Property Taxes Remove Renovations
article thumbnail

Top markets for affordable renovated housing inventory

Housing Wire

home price increase translated into a monthly mortgage payment of $1,179 on a median-priced home — not including property taxes and insurance. Renovated Inventory to the Rescue. On average, the price of the renovated properties was 3.5 Top Markets for Renovated Inventory. Among 75 U.S. in Las Vegas.

article thumbnail

Fix-and-flip investors say they’re discouraged by higher mortgage rates, home prices

Housing Wire

Higher mortgage rates dissuaded would-be homebuyers from purchasing flipped properties, while growing competition from new and resale inventory made things more difficult for these investors. These costs include mortgage payments, property taxes, insurance and utilities that must be paid while renovations are performed.

Investors 338
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Guild announces new ‘Flex Payment Mortgage’ suite of reverse products

Housing Wire

Guild’s Flex Payment Mortgage is a suite of products combining federally-insured [HECMs] with options for larger loan amounts as well as the reverse mortgage for purchase,” the company stated. Converting equity into available cash can be accomplished without impacting Social Security or Medicare benefits, the company said.

Mortgage 379
article thumbnail

Affordable housing inventory is limited due to foreclosure prevention efforts

Housing Wire

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 401
article thumbnail

Taking the leap: The benefits of buying vs. renting a home

Housing Wire

But be sure to consider how other recurring costs that may come with homeownership – such as homeowners insurance, property taxes and common charges like HOA fees – factor into your total monthly housing expense. Homeowners may also be eligible for tax deductions which renters may be unable to utilize.

article thumbnail

The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

Meanwhile, innovation-driven transparency is helping to make distressed property auctions more accessible for these owner-occupant buyers as well as for local community developer buyers who, it turns out, sell most of their renovated foreclosures to owner-occupants. of all available first-look properties in the second quarter of 2023.

article thumbnail

How to price homes properly in a volatile housing market

Housing Wire

The same analysis of 435,000 distressed property dispositions shows that 72% of properties that were renovated and resold after being purchased at foreclosure auction ended up in the hands of owner-occupants. To learn more about pricing properties in today’s market, visit Auction.com.