Housing Wire

JULY 24, 2024

But sometimes the cost of renovations can exceed the amount of cash that a retiree has access to, particularly for the majority of older Americans living on fixed incomes and relying on benefit programs like Social Security. More drastic renovations can double or even triple that figure.

Renovations 476

Renovations Home Improvement Retail Design 476

Housing Wire

JANUARY 22, 2025

Home renovation projects could bring a variety of safety and efficiency improvements to older construction, but anxiety is a key element keeping many homeowners from exploring renovation projects. Baby boomers led the way in this respect, with 60% of boomer respondents saying savings would be the primary funding source for renovations.

Renovations 370

Renovations Home Improvement Construction Mortgage 370

Appraisal Buzz

MARCH 10, 2025

However, buyers who are already stretching their budget to afford a home in todays market may not be willing or able to spend more on renovations or repairs. But add in the rising costs of renovations (thank you, inflation and high interest rates) and what looked like cost savings can quickly vanish. home renovation trends.

Renovations 414

Renovations Home Value Buyers Sellers 414

Housing Wire

AUGUST 19, 2024

According to public record tax assessor data, all four are now also owner-occupied “I’m trying to establish our community again,” Morgan said, noting the extensive renovations he does before reselling the homes to retail buyers. I’m trying to make homes in certain areas livable again. I can’t just be a part of that problem.

Renovations 476

Renovations Buyers Development Investors 476

Housing Wire

FEBRUARY 11, 2025

Consumers also said they were willing to tackle renovation costs if it meant achieving homeownership, according to the survey. RESimpli found that 80% of respondents are open to purchasing a home that requires significant renovation. Younger homeowners are more likely to pursue renovations, despite rising renovation costs.

Renovations 367

Renovations Mortgage Property Taxes Buyers 367

Housing Wire

JANUARY 23, 2024

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.

Renovations 523

Renovations Home Improvement Inventory Housing Market 523

Housing Wire

OCTOBER 4, 2022

According to Joseph, homes needing renovation can be “daunting,” especially for first-time homebuyers looking for something that is turnkey. FHA understands that the loan limit, for example, does not reflect the current rising prices landscape and, in some cases, it does not cover the cost of renovations.

Renovations 418

Renovations Development Mortgage 418

Appraisal Buzz

DECEMBER 4, 2024

Average project costs also climbed, reflecting not only inflation in raw materials and labor, but also a shift toward professionally completed renovations. Kitchen renovations topped the list of most expensive projects, averaging close to $43,000. Click here for more on NerdWallet’s look at home renovation trends.

Home Improvement 397

Home Improvement Renovations Finance Housing Market 397

Cleveland Appraisal Blog

MAY 17, 2024

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.

Renovations 327

Renovations Appraisal Logistics Decorating 327

Housing Wire

NOVEMBER 26, 2024

To better accommodate their needs as they age, baby boomer homeowners will likely need to renovate their homes to more easily accomplish goals related to aging in place and living in a safer, more comfortable dwelling. But for those opting to age in place, the renovations will be needed for safety and comfort in older age, he added.

Renovations 395

Renovations Modernization Technology Tools 395

Appraisal Buzz

APRIL 9, 2025

Homeowners are discovering significant value and joy in these investmentsfrom smaller upgrades, such as front doors and windows, to major renovations like kitchens and primary suites.

Renovations 365

Renovations Realtors Contracts Design 365

Appraisal Buzz

APRIL 8, 2025

Additional Key Findings 97% of buyers surveyed purchased 10 or fewer properties in 2024 84% ranked building generational wealth as a motivation for investing in real estate 55% renovate and resell to owner-occupants as their primary investing strategy 50% rank online or remote bid auctions as top property acquisition method 91% offer graceful exit (..)

Buyers 389

Buyers Renovations Investors Development 389

Housing Wire

MARCH 5, 2025

More renovations? While most of Shank’s book of business is tied to VA loans, he says he’s seeing an uptick in renovation loans across FHA and VA channels. So now that rates are dropping, a renovation loan will be in the 7% range. Certain geographic areas have higher shares of government loans.

Loan Officers 331

Loan Officers Renovations Government Buyers 331

Housing Wire

JANUARY 9, 2025

This finding likely stems from an increase in renovation costs over the past three years, forcing some buyers to pursue costly financing sources to improve their homes. A study by online home improvement platform Houzz highlighted a 60% increase in renovation expenses between 2020 and 2023.

Buyers 418

Buyers Renovations Housing Market Home Improvement 418

Housing Wire

APRIL 14, 2025

Most of these projects were minor updates such as repainting or landscaping, completed by 70% of those who renovated. A significant portion (65%) also addressed potential inspection issues, or undertook major renovations such as kitchen or bathroom overhauls (59%).

Sellers 369

Sellers Renovations Inspection Home Value 369

Housing Wire

FEBRUARY 26, 2025

Investing in property improvements Beyond acquisitions, landlords are prioritizing renovations , with 52% of investors budgeting at least $5,000 per unit for improvements in 2025. Landlords in the Northeast are the most committed to renovations, with 60% planning to spend $5,000-plus per property. Regional investment trends also vary.

Real Estate 315

Real Estate Home Improvement Landlords Investors 315

Appraisal Buzz

FEBRUARY 26, 2025

According to study data published by RentRedi , most American real estate investors intend to increase their portfolios and make large investments in renovating their existing properties in 2025, exhibiting a strong growth mindset. Some 27% of landlords nationwide intend to make renovations totaling at least $20k per property.

Real Estate 327

Real Estate Investors Landlords Renovations 327

Housing Wire

DECEMBER 17, 2024

The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. PACE loans which are often used to finance environmentally minded renovations, like the addition of solar panels have led to financial instability for some borrowers.

Mortgage 396

Mortgage Renovations Finance Property Taxes 396

Housing Wire

JANUARY 27, 2025

But taking a longer-term look at a homes suitability to accommodate natural challenges that emerge later in life is also taking hold among homeowners seeking to start renovation projects, the report said. The Federal Reserve is poised to make a decision on where interest rates will go at its next meeting later this week.

Renovations 393

Renovations Design Home Value Realtors 393

Housing Wire

JUNE 24, 2024

But a nonprofit organization in the Seattle area is seeking to help more seniors renovate their homes to age safely. And a state property tax relief program recently raised its maximum income threshold to allow more Puget Sound-area seniors to qualify.

Renovations 396

Renovations Property Taxes Supply Chain Law 396

Housing Wire

FEBRUARY 5, 2025

Demand from the local community developers buying at distressed property auctions is often sensitive to retail market mortgage rates because those auction buyers are often selling their renovated properties to retail buyers using traditional financing.

Retail 417

Retail Renovations Buyers Finance 417

Appraisal Buzz

NOVEMBER 13, 2024

Louis-based real estate company, homebuyers spend an average of $31,975 in homebuying expenses, such as closing costs, repairs, and moving, in addition to their down payment. home ($501,500) adding $75,255, the upfront cost totals a staggering $107,230.

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Housing Wire

JULY 22, 2024

Department of Housing and Urban Development (HUD) on Monday announced a new $175 million notice of funding opportunity (NOFO) under its Continuum of Care (CoC) program, which will go toward the development of new rental housing units with “supportive services for people experiencing homelessness ,” the department explained.

Construction 473

Construction Renovations Design Development 473

Housing Wire

DECEMBER 11, 2024

On Tuesday, two Ohio -based companies that specialize in the acquisition, renovation and management of distressed real estate properties in Northeast Ohio, Abandoned Homes Project Scattered Site I LLC and Scattered Site II LLC., The suit is not seeking class action status, and the plaintiffs made no demands for injunctive relief.

Renovations 275

Renovations Real Estate Sellers Realtors 275

Housing Wire

DECEMBER 11, 2024

On Tuesday, two Ohio -based companies that specialize in the acquisition, renovation and management of distressed real estate properties in Northeast Ohio, Abandoned Homes Project Scattered Site I LLC and Scattered Site II LLC., The suit is not seeking class action status, and the plaintiffs made no demands for injunctive relief.

Renovations 284

Renovations Real Estate Sellers Realtors 284

Inman

APRIL 1, 2025

Revive has used its findings in the presale renovation space to produce an extensive white paper that dedicates its pages to proving the value of updating a home before selling it.

Renovations 125

Renovations Sellers Agents Marketing 125

Appraisal Buzz

MARCH 20, 2025

Profits and profit margins rose slightly in 2024 on typical buy-renovate-and-resell projects, but margins remained at one of their low points over the past decades, as investors continued struggling to take advantage of the nations housing market boom. in 2023 to 7.6% That was up from $67,846 in 2023, and translated into a 29.6%

Renovations 355

Renovations Investors Finance Property Taxes 355

Appraisal Buzz

FEBRUARY 6, 2025

Even middle-aged couples often welcome their aging parents into their homes and must renovate their space to accommodate their changing needs. Lenders can provide expert guidance on options like renovation loans, home equity solutions, and reverse mortgages.

Lending 348

Lending Renovations Finance Housing Market 348

Housing Wire

MARCH 6, 2025

Supporting local jobs with “Full Renos “ Along with the prompt and premium property management he provides to tenants, Richards also takes pride in the extensive and high-quality renovations he does on newly acquired properties, most of which are in poor condition when he buys them.

Sellers 365

Sellers Inventory Landlords Renovations 365

Housing Wire

NOVEMBER 15, 2024

If the home you’re hoping to buy doesn’t have the accessibility you’re looking for, you’ll want to check with a contractor to see what kind of renovations are possible,” the story said. Bathrooms are also a major focus, since they can often serve as common sites for falls or other accidents since slippery, wet surfaces can be easy to find. “If

Design 435

Design Renovations Retail Home Improvement 435

Housing Wire

OCTOBER 24, 2024

The most powerful evidence of equity stripping shows up in subsequent resales (flips) of pre-foreclosure purchases that occur within 30 days of the original pre-foreclosure sale — indicating the pre-foreclosure buyer would have little time to add value to the property through renovation. I give them everything. Here are your options.

Retail 448

Retail Buyers Renovations Finance 448

Appraisal Buzz

NOVEMBER 15, 2024

Forty-three percent of people who are remodeling or intend to renovate their homes are doing so in order to raise their home’s equity. Of those surveyed, over half (54%) had utilized a HELOC or HE Loan for renovations.

Renovations 370

Renovations Lending Investing Home Improvement 370

Housing Wire

NOVEMBER 22, 2024

These costs include mortgage payments, property taxes, insurance and utilities that must be paid while renovations are performed. Survey respondents cited high holding costs as another key stressor. The average interest rate for a fix-and-flip loan also rose in Q3 2024 to 10%, according to Kiavi.

Investors 434

Investors Mortgage Property Taxes Inventory 434

Appraisal Buzz

MARCH 14, 2025

Beyond its main purpose, the housing industry starts a number of initiatives that boost economic expansion and increase GDP through home sales, renovations, and construction. To upgrade and customize their living areas, these new homeowners frequently spend money on furniture, appliances, services, and home renovation projects.

Insurance 389

Insurance Renovations Sellers Design 389

Appraisal Buzz

FEBRUARY 3, 2025

For example, in New York City, tax exemptions of up to 90% are available for renovated buildings that contain at least 25% affordable flats. One notable project is the renovation of Pfizers former global headquarters at 219 E 42nd St., The Midwest comes in second with 18,038 upcoming renovation projects. Washington, D.C.

Renovations 345

Renovations Construction Modernization Inventory 345

Housing Wire

DECEMBER 9, 2024

And more than one-third of respondents (36%) said they cannot afford to make accessibility renovations on their home to better support their preferences. Nearly half of respondents (47%) added that their current homes are unsuitable for supporting the accessibility needs that typically come with the natural aging process.

Renovations 370

Renovations Marketing 370

Housing Wire

JANUARY 22, 2025

Evernest already offers services including brokerage , maintenance, renovation, insurance and lending. Evernest and Poplar have each achieved national recognition on the Inc. 5000 list in the past. Poplar co-founder Chuck Hattemer will also join Evernest to guide integration and growth initiatives.

Property Management 396

Property Management Local Properties Renovations Investors 396