Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. We look to acquire right-sized, financially solid distributed retail companies.” The financial terms of the transaction have not been disclosed.

Retail 391

Retail Mortgage Lending Renovations 391

Housing Wire

MAY 8, 2023

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 371

Inventory Renovations Supply Chain Buyers 371

Housing Wire

FEBRUARY 21, 2023

That’s 27 percentage points higher than the estimated net proceeds (50% of total debt) for properties that reverted to REO and then were subsequently sold on the retail market, typically through the Multiple Listing Service. That was 14 percentage points higher than the 58% homeownership rate for retail REO sales.

Housing Market 356

Housing Market Renovations Marketing Retail 356

Housing Wire

APRIL 21, 2022

But it also makes sense given that their large-scale acquisition strategies could buckle under the logistical pressure of performing major renovations on hundreds or thousands of homes simultaneously. of retail home sales were to bulk buyers. Renovating Right. We’re taking a house and gutting it. All new components.

Investors 386

Investors Renovations Marketing Retail 386

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. Licensed in 23 states across the country, PrimeLending has 150 branches including satellite and primary retail locations. Companies may be struggling in one way or another.

Loan Officers 335

Loan Officers Marketing Retail Renovations 335

Housing Wire

JULY 14, 2022

The higher owner-occupancy rate for distressed properties sold at auction than those sold on the MLS is a surprising stat given that the MLS is much more broadly known to retail, owner-occupant buyers. The role of renovators. A deeper dive into the data helps to explain this surprising result. I buy local.

Renovations 325

Renovations Investors Buyers Retail 325

Housing Wire

JULY 21, 2022

Retail housing market data from June showing early signs of a real estate slowdown was foreshadowed three months earlier in buyer behavior at foreclosure auctions. The retail housing market data, released by Redfin at the end of June, shows the median asking price for newly listed homes for sale in the four weeks ending June 26 dropped 1.5%

Housing Market 384

Housing Market Buyers Marketing Retail 384

Housing Wire

SEPTEMBER 13, 2023

Retail giant Amazon announced on Wednesday the launch of a new pilot program designed to assist moderate-income families in three different U.S. million into the Nashville area to build and renovate 130 affordable homes, bringing its then-total investment into that community to roughly $100 million.

Renovations 344

Renovations Investing Retail Design 344

Housing Wire

MARCH 13, 2023

Retail lender Guild Mortgage announced the acquisition of Cherry Creek Mortgage , a privately-held Colorado-based lender with 68 branches in 45 states. Established in 1987, Cherry Creek offers a wide range of mortgage products including conventional, FHA, VA USDA, USDA, reverse mortgages and home renovation loans.

Mortgage 354

Mortgage Retail Renovations Loan Officers 354

Housing Wire

AUGUST 10, 2023

The increasing share of owner-occupant buyers is also evidence that extremely tight housing inventory is prompting more retail buyers to take on the additional challenges that come with buying a distressed property at auction. They are able to pay with cash, take on bigger renovations and provide current occupants with a graceful exit.

Renovations 329

Renovations Buyers Development Insurance 329

Housing Wire

JUNE 3, 2022

Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle? An estimated 140,000 renovated properties purchased at foreclosure auction or bank-owned auction were resold to owner-occupant buyers between January 2020 and December 2021.

Construction 429

Construction Renovations Transportation Real Estate 429

Housing Wire

FEBRUARY 15, 2023

California-based retail lender American Pacific Mortgage (APM) has made leadership changes while continuing to eye expansion in the Midwest and Southeast. The lender also brought over 45 former retail branches from Finance of America Companies Inc. FoA) months after it shut down its forward mortgage segment.

Retail 305

Retail Renovations Loan Officers Lending 305

Housing Wire

APRIL 8, 2021

One of the big beneficiaries of the new live/work/play setup has been home goods retailer Home Depot. According to a survey by Hippo.com , 54% of respondents said they made at least one home improvement last year, with the bulk having made renovations to their backyard, kitchen and home office at 21%, 20.1%, and 18.4% respectively.

Renovations 286

Renovations Home Improvement Retail Marketing 286

Housing Wire

JANUARY 31, 2023

Almost three months after Finance of America Mortgage shut down, Reich brought over 21 retail branches to form his own retail division at Go Mortgage. However, had said he kept his ears open for an opportunity to move over to Mann Mortgage, which closed construction and renovation loans in-house. In-house is key.

Mortgage 361

Mortgage Loan Officers Retail Finance 361

Housing Wire

APRIL 27, 2021

Parkside, founded in 2004 in San Francisco and led by CEO Matt Ostrander, also operates correspondent and retail channels. The acquisition of Parkside’s wholesale business comes roughly one month after Finance of America’s acquisition of Renovate America’s Benji business , an expansion into the home improvement lending space.

Finance 368

Finance Lending Retail Renovations 368

Housing Wire

MAY 21, 2024

I’m still focusing on those markets with very low (retail) inventory. Most properties that sell at foreclosure and REO auctions are in need of major renovations, far from being in fully repaired condition. It’s very, very market dependent right now. If I get something it will be a bidding war (when I sell).” in Q1 2023.

Marketing 423

Marketing Investors Real Estate Investing 423

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 355

Real Estate Renovations Inventory Retail 355

Housing Wire

OCTOBER 17, 2023

“Our team tries to make every effort to purchase the properties on the front side,” said Mary Tritt, managing broker at Tritt Realty , a Carrollton, Georgia-based company that buys and renovates distressed properties. Competition in the retail marketplace tends to be more volatile, subject to market conditions such as rising mortgage rates.

Buyers 374

Buyers Retail Market Value Real Estate Agent 374

Housing Wire

FEBRUARY 12, 2024

During an Association of Independent Mortgage Experts conference in October 2023, AFR executive vice president Christopher Guerin said that the company had doubled its efforts to do more renovation loans. “We focus more on manufactured home financing and new-construction home financing instead of maybe fighting against some of those headwinds (..)

Lending 324

Lending Renovations Construction Finance 324

Housing Wire

JANUARY 12, 2024

The pandemic-era run-up in home prices and the property’s reappraisal made the burdens of the mortgage payments too high when deducted from the gift itself, Dooley explained to the outlet, despite the Conleys continuing to pay for taxes, utilities and renovations for the property.

Tools 351

Tools Mortgage Finance Lending 351

Housing Wire

OCTOBER 20, 2022

The first quarter numbers reflect a pandemic-fueled housing fever dream that impacted the distressed housing marketplace as much as it did the retail housing marketplace. This ratio hit a year-to-date high of 89% in Q1 2022, representing an 11% average purchase discount for foreclosure auction buyers.

Buyers 404

Buyers Housing Market Marketing Investors 404

Housing Wire

FEBRUARY 18, 2022

AVMs do not account for upgrades or renovations. Sometimes properties have increased in value due to recent upgrades or renovations. This information is not known by AVMs, nor do they calculate possible value adjustments. They do not know how much value to give either. AVMs don’t account for commercial influence.

Appraisal Process 351

Appraisal Process Appraisal Valuation Renovations 351

Housing Wire

DECEMBER 12, 2022

Despite struggles in retail and wholesale, Pennymac has remained a standout in the correspondent channel, in which lenders aggregate loans from smaller originators. Meanwhile, the retail channel’s market share slipped to 56% of the overall originations pie in the third quarter of 2022. In retail, it’s more difficult to do so.

Marketing 366

Marketing Lending Retail Clients 366

Housing Wire

APRIL 2, 2021

The lender, which is controlled by the Blackstone Group and operates through retail, wholesale and correspondent channels, will begin trading Monday following the completion of its merger with blank-check company Replay Acquisition Corp.

Finance 257

Finance Renovations Investors Retail 257

Housing Wire

SEPTEMBER 22, 2022

Business is at a “dead stop,” said a retail loan officer in Michigan. While some LOs plan on moving to the broker channel for higher margins or exiting the industry, those planning to stay in the retail business are offering more loan products or getting licenses in other states to cast a wider net for borrowers.

Mortgage 375

Mortgage Loan Officers Inventory Retail 375

Housing Wire

OCTOBER 15, 2020

Once rehabbed, previously vacant distressed properties are attracting scores of retail buyers, according to Jeff Crum, chief investment officer at New Jersey Community Capital (NJCC), a nonprofit, socially motivated lender that also buys and rehabs vacant distressed properties. “If Seeking new inventory sources.

Buyers 330

Buyers Development Renovations Retail 330

Appraisal Buzz

SEPTEMBER 26, 2022

With less confidence, some homeowners turn to renovations on their current homes. Using Commercial Retail Space for Tax Revenue. While retail is growing in value, property revenue likely will as well. Another part of the puzzle is making borrowers feel more empowered financially. Use Low-Cost Materials and Technology.

Construction 195

Construction Supply Chain Buyers Retail 195

Housing Wire

JANUARY 6, 2023

Connie Kim: Have you also noticed retail LOs moving over to the wholesale channel? Lower pricing, less red tape in big-name retailers are what’s driving some of them to make the transition. I also think there is the potential for the renovation loans and products like that to pick up a little bit as well because inventory is low.

Business 367

Business Loan Officers Clients Inventory 367

Raleigh Realty

APRIL 24, 2022

There are plenty of retailers with niched storage tools, but maybe you want a different design style. Not every rack is designed for retail space or backstage at a fashion show. You can find design styles for clothes racks from many retailers, including some with additional storage features. It also breaks up space visually.

Tools 78

Tools Design Retail Renovations 78

The Robert Weiler Company

MAY 18, 2022

All expenses associated with the commercial property should be included, such as repairs and renovations, commercial real estate loans and interest rates, and costs associated with selling commercial real estate (e.g., CRE Property #2: Retail/Restaurant Storefront. When in doubt, invest in your roof. . De-clutter the interior.

Real Estate 148

Real Estate Tenants Retail Investing 148

Appraisal Today

MAY 17, 2024

NOTE: Please scroll down to read the other topics in this long blog post on Geographic Data and Comps, effect of renovation on value, very low foreclosures now, current real estate market, unusual homes, mortgage origination stats, etc. = = $99.5M I’m always looking for something new = What Impact Do Renovations Have on Appraisal Value?

Tools 64

Tools Appraisal Renovations Design 64

Empire Appraisal Group

DECEMBER 28, 2023

But the nation’s biggest home improvement retailer still topped expectations for the quarter. Sales at stores open at least a year, a key gauge of a retailer’s health, dropped 3.1%. NEW YORK – Home Depot sales continue to slide as Americans wrestle with persistent inflation and the company narrowed its outlook for the year. In the U.S.,

Home Improvement 78

Home Improvement Renovations Retail Real Estate 78

The Robert Weiler Company

SEPTEMBER 16, 2021

It could take the form of mixed-use real estate, an apartment building, office building, shopping center or retail building, industrial property for sale, and more. Most professional commercial real estate appraisers employ a mix of the following strategies: By cost : How much would it cost to build or significantly renovate the property?

Real Estate 147

Real Estate Appraisal Property Appraisal Valuation 147

The Robert Weiler Company

MARCH 28, 2021

The sector offers a head-spinning amalgam of residential, commercial, hotel, and retail space; however, each piece harmonizes to form an immediate community. Typically, a property owner who rents a standalone retail store or building risks a substantial decrease in revenue should they lose a tenant. Retail District Retrofit.

Investors 158

Investors Tenants Real Estate Retail 158

The Robert Weiler Company

APRIL 15, 2022

A percentage lease is typically only used for retail space for lease. Still, the most common are commercial office space for rent, industrial space for rent (including warehouse rentals), retail space for rent, restaurant space, hospitality, and special purpose properties. *A Percentage Lease.

Tenants 144

Tenants Landlords Property Taxes Real Estate 144

AmeriMac

NOVEMBER 30, 2023

Retail Centers Retail centers play a significant role in commercial property appraisals. It’s essential to work with an experienced commercial appraiser when appraising retail centers. To increase the value of your property before an appraisal, consider making improvements and renovations.

Appraisal 36

Appraisal Real Estate Appraisal Process Inspection 36

The Robert Weiler Company

JULY 6, 2021

Retail products, food manufacturing, and pharmaceutical healthcare are all examples of different types of production facilities. Bulk warehousing : Warehouse rental space that stores goods in large quantities, most commonly as middleman storage between retailers and distributors. Industrial real estate comes in various forms.

Logistics 147

Logistics Tenants Real Estate Modernization 147