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Finance of America now offers renovation loans

Housing Wire

announced today the launch of Finance of America Home Improvement , a new business division offering non-mortgage financing options, including renovation loans. Per a study from Harvard University’s Joint Center for Housing Studies, renovation financing is expected to increase 3.3% in 2021 to $433 billion.

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Regions Bank places $1B bet on home renovation market

Housing Wire

billion as of March 31, 2021 and is one of America’s largest specialized home improvement lenders. EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. Regions’ acquisition of EnerBank from CMS is expected to close in the fourth quarter of 2021. in 2021 to $433 billion.

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Home Renovations in 2021

Lamacchia Realty

HOME RENOVATIONS IN 2021. As we begin to see the other side of the pandemic and throughout the past year, the home improvement and renovation industry is seeing an extremely high demand for tools, materials, and home improvement service providers. But that doesn’t seem to be stopping clients. Cost of Materials.

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14 real estate trends Gen Z buyers are looking for

Housing Wire

Although some enterprising and lucky Gen Z home buyers locked in incredibly low mortgage rates during 2020 and 2021, those who weren’t ready to buy now have to contend with interest rates as high as 8%. Easy renovations are key For spaces that might not be immediately appealing, Gen Z wants those that can be easily renovated.

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Fix and flip market struggles as financing costs rise

Housing Wire

Transactions in the fix and flip market have been booming in recent years, with more than 407,000 homes flipped in 2022, up 14% over 2021 and up 58% over 2020, according to a recent report by real estate data firm ATTOM.

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loanDepot CEO talks ‘longer and tougher’ mortgage cycle, NAR settlement and cyberattacks 

Housing Wire

According to Martell , the mortgage market’s origination volume totaled $4 trillion in both 2020 and 2021, and “unfortunately” the decline in loan production “is not going to be cured by a 50-basis-point reduction” in mortgage rates. The company now has a digital HELOC offering.

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Redfin’s Glenn Kelman says they’re not like Zillow

Housing Wire

In March 2021, we began lowering RedfinNow offers, in anticipation of a summer deceleration in home-price increases,” Kelman said in the call. “In Where Redfin has been struggling with its iBuying operation – as was also the case with Zillow – is with renovations. Due to this the firm plans on raising pay for lead agents. “On