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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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To Renovate or Not To Renovate Before You Sell

Keeping Current Matters

However, with so many buyers competing for available homes right now, renovations may not be as vital as they would be in a more normal market. A normal market has a 6-month supply of houses for sale, but today’s housing inventory sits far below that benchmark. There aren’t enough homes for sale right now.

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The Big Question: Should You Renovate or Move?

Keeping Current Matters

Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The difference in the cost of a renovation versus a purchase.

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The Best Use of Time (and Money) When It Comes to Renovations

Keeping Current Matters

In the current sellers’ market, many homeowners wonder what, if anything, needs to be remodeled before they list their house. They can help you think through today’s market conditions and how they impact what you should – and shouldn’t – renovate before selling. Above that, and we’re in a buyers’ market. Bottom Line.

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14 real estate trends Gen Z buyers are looking for

Housing Wire

Gen Z — born between 1997 and 2012 — is making waves in the market with their approach to homebuying. This applies to marketing available homes on the market. Here are 14 real estate trends Gen Z buyers won’t pass up. Smart home technology is not optional Gen Z marks the first generation of true digital natives.

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How to Use Virtual Renovation to Renovate a Home

Realty Biz

In recent years, virtual renovation has emerged as a groundbreaking tool that allows homeowners, designers, and contractors to visualize and plan home renovation projects in a virtual space. Benefits of Virtual Renovation Cost-Efficiency : Reduces the risk of costly mistakes. Steps to Virtual Renovation 1.

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3 solutions to a gridlocked housing market

Housing Wire

Competition for home buyers is tougher than ever right now, as tightened housing stock supply continues to plague the housing market. Using a 3-month bank statement program, borrowers who would not otherwise qualify due to lost or nontraditional income may be able to buy a new home and place their own on the market. Jumbo products.

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