Remove 2019 Remove Buyers Remove Construction Remove Renovations
article thumbnail

These markets are attracting the most out-of-state real estate investors

Housing Wire

Green gave the example of a Fort Wayne, Indiana, property he purchased on Auction.com via a bank-owned (REO) auction in July 2019. Following extensive renovations that took nearly a year to complete, the property was resold to an owner-occupant buyer in July 2020. 75% out-of-state buyers); Calhoun County, Ala. (60%);

article thumbnail

What Will It Take to Solve the Housing Crisis? 

Appraisal Buzz

Pent-up housing demand, low-interest rates and new buyers have also added to the crisis. Building entire neighbors can encourage large-scale construction. Immigration policies can impact construction because the industry relies on them for labor. In 2019, there were about 2.8 million migrant workers in construction.

Insiders

Sign Up for our Newsletter

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

article thumbnail

How LOs are dealing with a mortgage rate lockdown

Housing Wire

This month, she is lucky to have $2 million in her pipeline thanks to closing deals on a construction loan, a condo and a vacant lot. million, below the 2019 range of 1.52 During the past 18 months — when refis were low-hanging fruit — the LO closed around $3 million a month. And it’s going to get worse. million to 1.93

Mortgage 381
article thumbnail

HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

As the chart shows, a historically large segment of Millennials is inching toward 36, the median age of a first-time home buyer in the U.S. An index score of 100 means that a buyer with a median U.S. The national trend for new construction, however, is generally moving in the opposite direction.

Buyers 36
article thumbnail

The Push for More Sustainable Homes

Will Springer Realtor

This has prompted many households to build or renovate a more sustainable home – to cut both their carbon footprint and bottom line. Green homes attempt to improve energy efficiency with minimal environmental impact through the design, construction, maintenance, operation, renovation and deconstruction of the building.

article thumbnail

Housing Inventory in Atlanta Will Not Jump in 2023

Hank Miller Team

Q3 ’22 is about even with Q1 and Q2 of ’22 and remains below levels of 2019 and 2020 Diving into last twelve months, we see a drop in inventory since the Aug peak and just an increase of 11 in active listings since Oct ’21. We clearly see the impact of the interest rate hikes as they suppressed buyer activity. Why move now?

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 390