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The renovation ripple effect in underserved neighborhoods

Housing Wire

Those areas that I’m now developing I grew up in. I remember what it’s like to have slumlords,” said Jermaine Morgan, a Columbus, Georgia-based local community developer who purchases distressed property at auction. “I Collectively, local community developers like Jermaine significantly impact neighborhood stabilization nationwide.

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Ascent Developer Solutions launches to serve construction loan needs

Housing Wire

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. AscentDS product offerings will include short-term loans to acquire, renovate or build single-family and multifamily properties, as well as post-completion bridge financing.

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HUD announces $72.6M in new Native American community grants

Housing Wire

Department of Housing and Urban Development (HUD) on Monday announced the disbursement of $72.6 million in new funding under the Indian Community Development Block Grant (ICDBG) program, adding up to $2 million to 38 individual community recipients to bolster housing development , expansion and preservation.

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Many baby boomers live in “time capsules” that need renovations to age in place

Housing Wire

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.

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FHA plans to revamp its 203k renovation program

Housing Wire

Department of Housing and Urban Development (HUD) said Tuesday during the 2022 HousingWire Annual event held in Scottsdale, Arizona. According to Joseph, homes needing renovation can be “daunting,” especially for first-time homebuyers looking for something that is turnkey.

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Regions Bank places $1B bet on home renovation market

Housing Wire

EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. Per a study from Harvard University’s Joint Center for Housing Studies, renovation financing is expected to increase 3.3% The post Regions Bank places $1B bet on home renovation market appeared first on HousingWire.

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A new source of affordable housing inventory: Private seller auctions

Housing Wire

Like Richards, most Auction.com buyers are local community developers who have a deep knowledge of the markets and submarkets where they are buying. SmartSale has provided a new acquisition channel for local community developers like Richards. million registered users. Make everything new so you dont have to come back as much.