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Planning for a Home Renovation: A Guide

Cleveland Appraisal Blog

Many homeowners have decided not to sell their homes but to renovate them instead. Planning for a Home Renovation: A Guide When it comes time to renovate your home, there are a few things you should know. This post from Aspen Appraisal Services will provide all of the information you need to start planning your home renovation.

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Top markets for affordable renovated housing inventory

Housing Wire

home price increase translated into a monthly mortgage payment of $1,179 on a median-priced home — not including property taxes and insurance. Renovated Inventory to the Rescue. On average, the price of the renovated properties was 3.5 Top Markets for Renovated Inventory. for all existing home sales nationwide.

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Renovation loans get pandemic boost as homeowners want home offices

Housing Wire

The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance. For over 40 years with Section 203(k) of the National Housing Act, FHA has been protecting lenders with fully-insured mortgage loans even as renovations are underway.

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Regions Bank places $1B bet on home renovation market

Housing Wire

EnerBank funds most of its loans on its balance sheet through FDIC -insured brokered CDs; it also charges fees to the contractors. 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. The space remains dominated by depository banks.

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What Impact Do Renovations Have on Appraisal Value?

Birmingham Appraisal

Home Renovations and Appraisal Value As an appraiser, I get asked about how much value will be added for different types of home projects or renovations. The best way to look at home renovations is by considering the overall impact they will have on your home. Updates or Renovations?

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Owning a condo in Florida is becoming less attractive: Redfin

Housing Wire

The cost of homeowners insurance has surged in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. And homeowners insurance costs are three times higher in Florida than the national average.

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How to price homes properly in a volatile housing market

Housing Wire

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. These are market-based decisions.” Kearney’s simple strategy for surviving as a high-volume seller in an environment where demand has dried up: listen to the market and do what it says.