Real Estate

Great renovations are poised to refresh the aging US home inventory.

“They’re adding value, they’re renovating, and they’re taking financial risk. to do A furnished home can be had for $150,000 to $160,000. Price range which can be purchased by a teacher or nurse.. These are local small businesses.Carlton said.

Whenever there is an opportunity where their staff is busy, they often call a friendly local competitor and pass the deal on to them for a small fee. Our investors usually have. Rehabilitation of about 10 houses and Often Assign a couple more. every year.

Unfortunately, when local legislators fail to understand how it works and partnerships That Investors build their communities.they stopped the process.

The result is less affordable entry-level housing, housing that cwould have been to be Listed by a realtor, and updated by a renovator to meet today’s market standards. This in turn reduces the amount of available inventory which in turn increases prices.

A peak at the new Flipside report

Carlton said That they are only in the process of compiling data for their next Flipside report, but there is one statistic Especially that They are investigating in more detail: Flip-flops made by women sell faster, receive more multiple offers and sell for higher prices.

Carleton noted that in the meantime The Great Depression In 2008 When New Western was founded, it was financial products that caused real estate distress. Many of the homes that were foreclosed on were five years old or less.

“Today we have millions and millions of homes that no aspiring homeowner is buying because someone has been in their place for a long time before they die, never noticing the damage to the roof,” Carlton said. went, and there’s black mold and other significant problems,” Carlton said.

“If you’re a real estate agent, you definitely don’t want to put these properties on the front page of your website and you probably don’t know what to do with it. It’s not attractive, it makes you income is low, and you are not only becoming a listing agent, You are Also taking on the role of being a project manager.”

Final thoughts

Great renovation Opens up new markets and new inventory, and makes improvements.s Affordability Carlton is excited to tackle this issue nationally.

“There is regulation Definitely needed, but it should be well thought out. Local, state and federal legislators, as well as state real estate commissions, must carefully craft regulations to avoid stifling the flow of available affordable inventory., Carlton said.

“This is an exciting time in single-family real estate, especially in our value-added location, where we are filling a shortage of entry-level housing that is critical to addressing the affordability issue.. These features open up an completely New market it can be built up




Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button