Housing Wire

MAY 10, 2021

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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Renovations Finance Home Improvement Lending 384

Housing Wire

SEPTEMBER 19, 2023

You’ve found a house for your buyer or a buyer for the home you’re selling. A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? One of the final hurdles to clear is the appraisal , and it has the power to leave a deal dead in the water. What is a real estate appraisal?

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Real Estate Appraisal Agents Inspection 450

Cleveland Appraisal Blog

SEPTEMBER 3, 2021

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes. There may be a very comparable home with similar square footage that sold recently.

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Agents Appraisal Renovations Development 374

Housing Wire

JUNE 1, 2021

The Biden administration announced proposals to combat the racial wealth gap , including a tax credit to rehab homes for low and moderate-income homebuyers as part of the trillion dollar infrastructure package. Why use several vendors for title searches, appraisals and underwriting when you can use one?

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Renovations Development Investors Legal 508

Appraisal Buzz

APRIL 30, 2024

With the downturn in home sales, the challenges are multifaceted: Homeowners are holding onto low-interest rate mortgages instead of moving up, investors edging out traditional buyers with cash offers and first-time homebuyers facing steep affordability hurdles and bidding wars.

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Marketing Real Estate Agent Renovations Buyers 195

Cleveland Appraisal Blog

AUGUST 25, 2022

You’ve just purchased your first property to renovate. Today, Cleveland Appraisal Blog shares a few tips for first-time investors. Let the Renovations Begin! When you’re figuring out how much money you can put into your property, don’t forget to calculate renovations. Decide on How to Proceed.

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Investing Renovations Landlords Real Estate 332

Appraisal Buzz

JULY 7, 2022

homeowners has found that more than half polled believe that their home improvement and home renovation projects will take longer than originally estimated. The post Home Renovations: A Time-Sensitive Proposition appeared first on DSNews. A survey of 1,000 U.S.

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Renovations Home Improvement Appraisal 150

Housing Wire

JANUARY 9, 2024

Importantly, homeowners can also include 50% of their estimated rental income when applying for an FHA renovation loan to construct an ADU, which helps with DTI constraints. Sean Roberts is the CEO of Villa Homes. Under this policy, lenders can include income earned from ADUs when underwriting their mortgage.

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Finance Construction Tenants Renovations 483

Appraisal Buzz

MAY 20, 2021

Low inventory and tight supply have forced many into home purchases requiring more work than initially anticipated. The post More Millennials Investing in Home Renovations appeared first on theMReport.com. The post More Millennials Investing in Home Renovations appeared first on Appraisal Buzz.

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Renovations Investing Inventory Appraisal 195

Housing Wire

AUGUST 27, 2021

Should you update your home before putting it on the market? Three in four homeowners say they’d rather replace their appliances than accept a low offer on their home, according to a study by Cinch Home Services. . While upgrades can make your home more desirable, you may not completely recoup the cost of what you spend. .

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Renovations Home Improvement Investing Home Value 432

Appraisal Buzz

OCTOBER 14, 2022

According to Jon Giles, Head of Consumer Direct Lending at TD Bank, “Many Americans have more equity in their homes than ever before, and when used responsibly, HELOCs and home equity loans are effective, affordable tools which can assist in paying down higher interest debt or allowing for home renovations, which can add value to the property.”

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Renovations Tools Lending Appraisal 195

Appraisal Buzz

AUGUST 30, 2022

New program will fund endeavors to make safety and functional home modification repairs and renovations to meet the needs of low-income elderly homeowners. The post HUD Pledges $15 Million to Assist the Elderly appeared first on Appraisal Buzz. The post HUD Pledges $15 Million to Assist the Elderly appeared first on DSNews.

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Renovations Appraisal 195

Appraisal Buzz

MARCH 31, 2022

In light of a difficult housing market filled with high home prices and low supply, Discover Home Loans issued a survey to better understand homeowners’ attitudes towards home improvements, purchasing and refinancing. In some … The post Homeowners Look to Renovate Than Relocate appeared first on DSNews. “In

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Renovations Home Improvement Housing Market Appraisal 150

Appraisal Buzz

MAY 10, 2021

The lending and services platform Finance of America has introduced a home improvement financing product offered to consumers through approved contractors. The post New Service is Designed to Help Homeowners Renovate appeared first on DSNews.

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Renovations Design Home Improvement Finance 195

Housing Wire

FEBRUARY 1, 2024

The Brookings Institution summed it up well: “Today, downtown Detroit is nearly unrecognizable from previous decades, with new features such as the QLine streetcar system, a renovated Detroit Tigers ballpark, a riverwalk, and Campus Martius Park. Redlining, ” although illegal since 1968, still happens.

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Real Estate Appraisal Insurance Training 408

Appraisal Buzz

AUGUST 23, 2022

percentage points in 2022, many homeowners are choosing to renovate their living spaces rather than search for a new home. According to a new study by House Method, 55% of homeowners reported renovating a part of their home in the … The post Homeowners Opting for Improvements Over Shopping for New Homes appeared first on DSNews.

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Renovations Housing Market Appraisal Mortgage 195

Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. They want to verify the home’s worth. Four renovations to consider before selling your house. Here’s how to get an instant offer on your home. Scenario 1: Your home appraises at your full offer price.

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Appraisal Real Estate Agent Sellers Real Estate 458

Housing Wire

FEBRUARY 18, 2022

Fannie Mae recently announced that it will begin to “include a desktop appraisal option in Desktop Underwriter beginning March 19, 2022. Automated Valuation Models (AVMs) are commonly used today in the mortgage industry to help support the appraiser’s concluded value. AVMs do not account for upgrades or renovations.

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Appraisal Process Appraisal Valuation Renovations 383

Appraisal Buzz

JANUARY 13, 2022

Some 72% of homeowners are considering renovations or upgrades to their home, and 37% are seeking to apply for home refinance. The post Refinances, Renovations Expected to Increase in 2022 appeared first on theMReport.com. The post Refinances, Renovations Expected to Increase in 2022 appeared first on Appraisal Buzz.

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Renovations Appraisal 195

Cleveland Appraisal Blog

AUGUST 11, 2022

Do you fix your home up or sell it as-is? This week I welcome back guest blogger Betty White who shares some pros and cons of selling a home in its as-is condition. For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon.

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Renovations Buyers Appraisal Investing 221

Chicagoland Appraisal Blog

MARCH 9, 2024

Sometimes consumers equate the appraisal inspection as a professional home inspection. Home Inspection A licensed home inspector performs a home inspection. Home inspections, which typically span hours, encompass various elements including electrical systems, plumbing, HVAC, roofing, and structural components.

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Inspection Appraisal Real Estate Property Appraisal 136

Housing Wire

AUGUST 2, 2022

The Department of Veterans’ Affairs announced last week that it would allow desktop and exterior-only appraisals for some transactions. In a department memo, the VA explained that the move was a response to “high demand for appraisal services and limited availability of appraisers in certain local market areas.”.

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Appraisal Appraisal Process Renovations Finance 370

Appraisal Buzz

JUNE 25, 2021

Philanthropic commitment will support Habitat’s construction, renovation, and repair of homes nationwide, and address homeownership inequality. The post Wells Fargo Pledges Nearly $8 Million to Habitat for Humanity appeared first on Appraisal Buzz.

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Renovations Construction Appraisal 221

Appraisal Buzz

OCTOBER 25, 2021

HomeBinder reports that it has added new features and user interface (UI) improvements to its centralized home management platform that keeps homeowners connected with mortgage lenders, home inspectors, insurance providers, home pros, real estate agents, and other authorized professionals.

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Real Estate Agent Renovations Valuation Insurance 195

Appraisal Buzz

AUGUST 3, 2021

With real home equity reaching a new peak of $20.2 trillion in Q2, an increasing number of homeowners aged 18-43 are tapping into their equity for upgrades to their homes. The post Two-Thirds of Gen X Homeowners Plan on Renovating appeared first on theMReport.com.

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Renovations Appraisal 195

Appraisal Buzz

DECEMBER 17, 2021

Buying a home is typically the largest purchase one makes in their lifetime and with that comes a lot of research. The post Keywords Show Homeowners Focused on Renovations During the Pandemic appeared first on Appraisal Buzz.

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Renovations Real Estate Appraisal Marketing 195

Appraisal Buzz

MAY 13, 2022

Most foreclosure buyers are local community developers renovating and reselling to owner-occupants. Daren Blomquist of Auction.com takes a look at this market segment and others taking part in home auctions nationwide. appeared first on Appraisal Buzz. The post Who Is Bidding at Foreclosure Auctions? appeared first on DSNews.

Renovations 150

Renovations Development Buyers Appraisal 150

Housing Wire

JUNE 10, 2021

It’s no secret that buying a home takes time and money. Well, it turns out, so does selling a home. According to Zillow and Thumbtack’s Hidden Costs of Selling Analysis , the average homeowner spends over $15,000 in “hidden costs” to sell their home. . Are you thinking about selling your home? Staging Costs.

Sellers 546

Sellers Real Estate Agent Real Estate Decorating 546

Cleveland Appraisal Blog

DECEMBER 10, 2022

As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grain of salt. Betty is not an appraiser. Always keep in mind that your Ohio home is one of the biggest investments you’ll ever make. 1 Natural disasters.

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Appraisal Buyers Renovations Investing 298

Housing Wire

MAY 11, 2021

For example, a newly renovated home that has a gourmet kitchen and an updated bathroom may be valued more highly than a similar home that possesses only above-average amenities and is in average condition. . The GSEs require appraisers to evaluate them on a scale from C1/Q1(best) to C6/Q6(worst).

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Valuation Inspection Renovations Appraisal 382

Boston Appraisal

NOVEMBER 9, 2023

The effect that home improvements have on an appraisal can vary depending on the type of improvement, the quality of the work, and the local real estate market. What are some common home improvements that can increase appraisal values? What are some common home improvements that can increase appraisal values?

Home Improvement 78

Home Improvement Appraisal Renovations Real Estate 78

Cleveland Appraisal Blog

JULY 22, 2021

My family and I are in the midst of a first floor renovation, whilst caring for my wife as she continues to recover from her broken ankle, as I mentioned in my last post. So, I am grateful to have guest blogger, Seth Murphy, who wrote this article for the Cleveland Appraisal Blog. I hope that you find his article beneficial.

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Renovations Appraisal Home Improvement Client Relationships 243

Housing Wire

AUGUST 22, 2022

Mortgage startup NFTYDoor plans to launch a home equity platform, promising borrowers “a one-minute online application and funding in as little as three days.” He’s entering a bright space: home equity products have become more popular given the surging value of homes used as collateral.

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Realtors Renovations Real Estate Tools 367

Housing Wire

AUGUST 1, 2022

Rocket Mortgage , the nation’s largest lender, is expanding its product portfolio to home equity loans amid a significant slowdown in mortgage origination volume. Rocket is targeting American homeowners with high household debt and credit card balances but strong home equity positions. . ” U.S. ” U.S.

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Renovations Lending Mortgage Investing 384

Housing Wire

JANUARY 26, 2021

People often confuse the home appraisal with the home inspection. Appraisals are estimates of a home’s value — and they’re typically required before you can close on your mortgage loan. Inspections, on the other hand, are designed to assess the condition of the home, and they’re 100% optional for the buyer.

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Inspection Real Estate Agent Real Estate Investing 384

Housing Wire

FEBRUARY 8, 2022

Desktop appraisals arrived in March of 2020, allowing the housing market to keep humming while many stayed indoors to prevent the spread of COVID-19. Allowing appraisals without a walk-through was one of several flexibilities the Federal Housing Finance Agency allowed in light of the pandemic.

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Appraisal Appraisal Process Valuation Renovations 370

Raleigh Realty

APRIL 24, 2022

Sustainable Renovations for Every Room Whether you buy an older home or a new construction home, there are most likely modifications and renovations you can do to make your new house more eco-friendly. Let’s take a room-by-room look at potential eco-friendly modifications and renovations you can make to your home.

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Renovations Modernization Inspection Construction 144