article thumbnail

The current REO market requires an expansion of services for business growth

Housing Wire

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. Balancing supply and demand is a delicate dance between new construction and existing properties.

article thumbnail

Buying New Construction for the First Time? Here Are the Dos and Don’ts You’ll Need to Know Before Jumping In

HomeLight

You’re looking at new construction as an option for your new home and love the idea of buying a brand-new house that has never been lived in before. However, you want to arm yourself with the tools and insider information so you don’t get too carried away with the new build. The dos of buying new construction.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Homebuilders are at max capacity. And the housing shortage keeps widening

Housing Wire

Aerial drone inspection of Lennar’s Westview housing development Miami, Florida. Everywhere you look there seems to be bad news for the existing-home market — interest rates remain north of 7% and the median home price nears record levels at more than $410,000 as of June. Taken by Felix Mizioznikov.

Land 362
article thumbnail

Things Builders Should Know About Spec Home Loans

Realty Biz

Development financing for larger new construction projects and alternative financing approaches should also be considered. Non-conventional financing solutions, such as loans based on bank statements or income-based loans, may also be viable options.

Loans 108
article thumbnail

Why You Still Need an Agent to Buy a New House

HomeLight

Don’t let the pristine facade or shiny appliances of a model home deceive you: buying new construction will be as complex as any old real estate transaction, if not more so. These are all areas where a knowledgeable buyer’s agent who’s got lots of new-build experience and local builder connections can be invaluable.

Agents 124
article thumbnail

Be Your Own Builder: The Cheapest Way to Build a House

HomeLight

From exploring the tiny house movement to taking on the role of being your own contractor, each case study shows some interesting and innovative ways to build a home without breaking the bank. Because the home was built on wheels, it was not subject to any required permits or inspections. Let’s find out!

article thumbnail

Stop and Ask These 23 Questions When Buying New Home Construction

HomeLight

A new construction home — yours from the ground up, with no prior owners — sparkles with possibility. Here, we’ve enlisted the expert advice of top agents, industry insiders, and recent homebuyers to address key questions to ask when buying a new construction home. Should I hire an agent for new construction?