article thumbnail

Many baby boomers live in “time capsules” that need renovations to age in place

Housing Wire

Fifty-five percent of surveyed baby boomers plan to remain in their existing homes as they age, but less than a quarter of those surveyed have any plans to renovate their homes to more safely and easily accommodate natural changes that come with aging.

article thumbnail

Regions Bank places $1B bet on home renovation market

Housing Wire

EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. In 2020 it acquired equipment finance lender Ascentium Capital and a year prior picked up institutional investment firm Highland Associates. “We billion in home improvement projects. in 2021 to $433 billion.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Opinion: Pass the Neighborhood Homes Investment Act

Housing Wire

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. This cost gap all-too-often prevents the renovation of affordable houses that need a great deal of work.

Investing 434
article thumbnail

How to vet private money lenders for real estate investing

Housing Wire

Examine previous transactions with a lender, such as funding renovations on investment property, to better understand the lender’s experience with diverse real estate projects. Developing a relationship with a potential private money lender is a two-way street. Make a list of potential lenders.

article thumbnail

Owning a condo in Florida is becoming less attractive: Redfin

Housing Wire

Before the new law was enforced, many condo associations were investing their reserves in government-insured instruments, sacrificing their liquidity to generate a return. In May 2022, the Florida Legislature introduced a new condominium safety law, which mandates more rigorous inspections and stronger financial reserves for HOAs.

HOA 480
article thumbnail

Amazon announces housing affordability pilot program with National Housing Trust

Housing Wire

Amazon says the investment will “help moderate-income residents in these communities to purchase homes as a path to help build generational wealth.” Last year, Amazon made a housing investment of $10.6 the Douglass Community Land Trust in Washington, D.C. and The Housing Fund serving Nashville. metropolitan areas.

article thumbnail

Tapping home equity in retirement has advantages and pitfalls: Harvard researcher

Housing Wire

“If you could use your home equity to make your life better — to buy hearing aids, for example — maybe that’s a good investment.” Reverse mortgage companies have also invested in their own home modification programs. . “But what constitutes an emergency?” ” Molinsky told NextAvenue.