Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Real Estate

Knock launches new sale-leaseback solution, Knock Nest

Homeowners can access the equity of their home while renting it back

Real estate technology company Knock has announced the launch of Knock Nest, a standalone sale-leaseback solution that allows homeowners to access the cash they’ve built up in their home while continuing to live in it.

Via Knock Nest, homeowners can request a no-obligation cash offer for their home, allowing them to pay off their mortgage and access equity in about two weeks if they qualify. Knock will purchase the home and rent it back to the (former) owners. While living in the home, the consumer pays rent and is relieved of mortgage payments, property taxes and homeowners insurance.

Once a homeowner sells their home to Knock Nest, they can rent it back for one year or two years, then have the option to renew the lease or purchase back the home.

The company said that Knock Nest is designed to appeal to several groups of homeowners – those looking to lock-in a sale price while home prices are at all-time highs, the newly unemployed who want to start a business or pay down existing debt, or the millions whose mortgages are in forbearance due to the global pandemic.”

“For most people, their home is their single largest asset, and over 97% of homeowners have positive equity in their homes,” Knock Co-Founder and CEO Sean Black said in a statement. “We created Knock Nest to allow homeowners to put the equity they’ve worked hard to build to work for them – whether it’s to achieve their dreams, help with life’s uncertainties or plan for the next stage of their lives.”

Knock Nest is currently available in select cities in Arizona, Colorado, Florida, Georgia and Texas.

Since 2017, Knock has offered leasebacks to customers with its Home Swap solution. Over the last few months, Knock’s Home Swap solution has expanded across the country, most recently in three Florida markets. Now, the solution is available in 14 markets in the U.S., with plans to expand to 21 markets by mid-2021.

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