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Auctions see high owner-occupancy rates for foreclosed homes

Housing Wire

Among nearly 135,000 properties foreclosed between 2016 and 2020 that sold to third-party buyers at foreclosure auction on the Auction.com platform, more than half (54%) are owner-occupied as of 2022, according to public record county tax assessor data from ATTOM Data Solutions. The role of renovators. Net owner-occupancy rates.

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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.”

Inventory 370
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How to price homes properly in a volatile housing market

Housing Wire

An analysis of more than 435,000 distressed property dispositions since 2016 in the 2023 Distressed Market Outlook report shows that distressed properties sold at foreclosure auction yield an estimated net proceeds of 77% of the total debt owed to the foreclosing lender.

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Opinion: Pass the Neighborhood Homes Investment Act

Housing Wire

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. This cost gap all-too-often prevents the renovation of affordable houses that need a great deal of work.

Investing 404
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Fix and flip market struggles as financing costs rise

Housing Wire

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. People are calling it the Great Renovation. How long that can continue is hard to say.”

Finance 346
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Real estate unicorn Roofstock cuts its workforce by 20%

Housing Wire

If anyone knows of anywhere that could be a good fit with my 20+years in maintenance/renovation leadership in multi-family, single family, or senior living, please pass my name along. The company has facilitated over $5 billion in transaction volume since 2016. Thanks in advance.”.

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3 Reasons to Live in a New Home Before Renovating

Zillow

A home renovation can be yet another big and stressful project, what with all the decisions to make and contractors to deal with. Any renovation, no matter how small, should be designed with care. Find out which home renovations DIYers most regretted tackling themselves. Quiz: Should You Renovate Your Home or Sell?