article thumbnail

Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle?

Housing Wire

In 2021, McCormick resold two renovated properties that she originally purchased at foreclosure sale on Auction.com in her hometown of Dayton, Ohio. Most of the renovated foreclosure resales came from local community developers like McCormick who sell a handful of renovated foreclosures a year in communities they care about. “I

article thumbnail

Selling a House ‘As Is’ in Virginia

HomeLight

One of the biggest reasons is people have money in equity in their home, but they don’t have much money in regards to savings to be able to renovate the property,” says Megel. “So, This oftentimes will have to do with unique circumstances that don’t really lend themselves to renovating a property for sale.

As-is 93
Insiders

Sign Up for our Newsletter

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

article thumbnail

How a transparent marketplace provides a proven path to benefit homeowners

Housing Wire

Selling pre-foreclosure is often the best option for distressed homeowners who don’t qualify for any loss mitigation programs, but those homeowners are understandably hesitant to choose that option and often end up choosing it when time is running out. Those dangers can be found in recent headlines from the New York Times and ProPublica.

MLS 385
article thumbnail

Auctions see high owner-occupancy rates for foreclosed homes

Housing Wire

Most of these reverted REOs are eventually sold via the Multiple Listing Service (MLS). Over the same period (2016 to 2020), the net owner-occupancy rate for FHA foreclosures sold via auction was 57% compared to 50% for FHA foreclosures sold on the MLS. The role of renovators. Net owner-occupancy rates.

article thumbnail

Startup NFTYDoor launches home equity platform with one-minute application

Housing Wire

“Our mission is to help homeowners unlock their home equity to better manage their finances – whether it’s for home renovations, paying for tuition, debt consolidation, or other events to support your family and life’s great adventures,” Schacknies said in a social media post. Presented by: ServiceLink.

Equity 337
article thumbnail

Revive Vision AI to Power Pre-sale Home Renovation Solutions for Real Estate Professionals

Realty Biz

Introducing Revive Vision AI, a cutting-edge pre-sale home renovation solution by Revive. This innovative tool uses property photos to evaluate a property's current value and renovation possibilities. This innovative tool uses property photos to evaluate a property's current value and renovation possibilities.

article thumbnail

Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. Step one: Talk to an expert! Selling your house soon?

MLS 96