Renovating distressed properties is having a powerful impact on adding value and expanding homeownership.
“According to the 2023 Distressed Market Outlook, third-party auction buyers renovate to a little over 99% of after-repair value on average,” said Daren Blomquist, Auction.com VP of market Economics. “In contrast, traditional REO sales sold for an average of just 73% of the estimated after-repair value.”
Watch the latest episode of Disposition Download to learn how local community developers add value through renovation, including in underserved neighborhoods.