YouTube news segment (May 15, 2023) by Kathryn (Catherine) Hall—branding herself as "America's 203k queen"—reporting on a national shortage of experienced home renovation/rehab consultants driven by rising interest rates and low inventory of move-in-ready homes. NAFVAC (the organizing body) is launching on-the-road Regional Consultant Training Sessions (eight-hour courses for home inspectors and contractors with 3+ years’ experience), plus mentoring and software support, and is soliciting partners (lenders, real estate pros) to host sessions.
Chapters
Welcome to the NFAC News for the week of May 15th, 2023. I'm Kathryn Hall, America's 203k queen, bringing you the latest updates on the home renovation and rehab consulting industry. Today we're discussing a significant challenge that is affecting our industry and the mortgage industry in large the shortage of experienced and qualified consultants. In response to the rising interest rates and continued low inventory of move in ready homes, there has been an increased demand for lower priced houses and renovation loans to address the safety, soundness and cosmetic needs of these properties. It's becoming more and more difficult to find consultants with the necessary expertise and experience in many areas of the country. However, NAFVAC is stepping up to address this shortage with our upcoming on the road Regional Consultant Training Sessions. These eight hour training sessions are specifically designed for for home inspectors and contractors with three or more years of experience in the field. NFAC recognizes that the shortage of consultants is a significant challenge and we're committed to providing practical solutions that will help reduce this shortage. Through our training sessions, ongoing mentoring and software, we aim to equip more professionals with the necessary skills and knowledge to conduct accurate consultation and renovation mortgage assistance. We also welcome feedback from lenders, real estate professionals and other interested groups who want us to bring our training sessions to their area. We believe that collaboration and partnership are key to addressing the shortage of consultants and improving the quality of home inspections, consultations and renovation homeownership across the country. So, in conclusion, we understand the importance of having experienced and qualified consultants in our industry. That's why NAPVAC is committed to providing all the necessary resources that will equip professionals with the necessary skills and knowledge to meet the demand of the market. Thank you for joining us today on NAFAC News. Until next time, this is Kathryn Hall, America's 203k queen, signing off.
