article thumbnail

Home equity is the bright gem of the housing market

Housing Wire

Our previous best year for HELOCs was 2015, and that was about $320 million,” he added. ATTOM , a real estate data provider, reports, however, that the “severe contraction across the lending industry in the fourth quarter of 2022 even hit HELOCs” in terms of origination volume. Toohig said Raymond James finished the year with some $1.1

article thumbnail

How to Set a Home Renovation Budget

Zillow

Even if you’re ready for a kitchen renovation or anxious for a bathroom remodel, figuring out how to plan a home renovation that doesn’t break the bank can be tricky. For example, a kitchen generally accounts for 10 to 15 percent of the property value, so spend no more than this on kitchen renovation costs.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Non-Arms Length Sales for Appraisers

Appraisal Today

What should appraisers look for in a sales contract? the guidelines established by the GSEs emerged as the de facto standard, wielding significant influence over residential appraisal practices from 1980 to 2015, a sway that persists to this day. The average contract interest rate for 15-year fixed-rate mortgages increased to 6.75

article thumbnail

State Appraisal Boards – What Do They Look For?

Appraisal Today

One-Room Schoolhouse in New Role as an Adorable Tiny Home Excerpts: The recently renovated schoolhouse was built in 1860 to serve the farming community of Elizaville, NY—a hamlet in the towns of Clermont and Gallatin, which still had fewer than 2,000 residents as of 2022. The average contract interest rate for 5/1 ARMs increased to 5.56

article thumbnail

Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

In this analysis, we also show you current data along with key lessons from both the 2015 oil price crash and the 2008 great recession. We also believe that there’s going to be strong appreciation for homes with the following characteristics: New / recently renovated to look “like HGTV;”. Properties are still going under contract.

article thumbnail

NAR: Appraisal License Equivalency Credit for RE Agents?

Appraisal Today

In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the Real Property Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”. Fire Island’s NY Legendary Pyramid House for sale at $6.5M.

article thumbnail

Helping Lenders Navigate the Commercial Real Estate Appraisal Process

Simonson Real Estate

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. On several occasions, we were presented information about construction or renovation plans well after the initial assignment was started. Signed lease documents, detailed rent roll, etc.