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Top markets for affordable renovated housing inventory

Housing Wire

home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. Despite average 30-year mortgage rates that have remained below 3% for most of 2021, the rapid home price increases are eroding affordability for average wage earners.

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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

HousingWire recently spoke with Christian Mills, head of Financial Advisor Relations at Reverse Mortgage Funding, about the ways a reverse mortgage can create a stable cash flow for homeowners in the midst of a volatile housing market. CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans.

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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

Meanwhile, innovation-driven transparency is helping to make distressed property auctions more accessible for these owner-occupant buyers as well as for local community developer buyers who, it turns out, sell most of their renovated foreclosures to owner-occupants. of all available first-look properties in the second quarter of 2023.

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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. The same analysis of 435,000 distressed property dispositions shows that 72% of properties that were renovated and resold after being purchased at foreclosure auction ended up in the hands of owner-occupants.

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Taking the leap: The benefits of buying vs. renting a home

Housing Wire

When you make a mortgage payment, part of that money goes toward the principal balance. The longer you live there and pay down the mortgage, the greater your stake in the property’s value. Should the property increase in value over time, then you, in turn, will have built up more equity.

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Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

One of the major benefits of being a homeowner is building equity with each mortgage payment, instead of putting money into your landlord’s pocket. Will you even qualify for a mortgage? Unless you have enough money in the bank to buy a house with cash, you’ll need a mortgage. How important is the freedom to renovate?

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Understanding the Math of Profitable Investment Properties

Eppraisal

Analyzing Operating Expenses To accurately gauge the profitability of an investment property, it's essential to account for all operating expenses. These may include property taxes, insurance, maintenance and repairs, property management fees, and any homeowner association (HOA) dues.