Friday, May 18, 2018

What Material Is Best For Gutters? #housing #homerepair #oregon #feildservicing #teamthayer

Gutters: What Material Is Best?
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ContractorIf you're putting gutters on your home for the first time, or replacing your existing gutters, you may be surprised by just how many options there are. While there may be numerous options to choose from, it’s important to understand the various costs associated with this type of project before making a decision. In fact, experts estimate that the cost to install gutters and related components like downspouts can vary widely, with installation rates ranging from a minimum of $3 to more than $17 per linear foot.

And while gutters protect the sides of the house from mud, preventing erosion, reducing water damage to the foundation, and keeping visitors from getting wet—guttering can demand more maintenance and cleaning, distract from the profile or design of a home, and be a big expense when constructing or remodeling.

The four top gutter material options are aluminum, vinyl, copper and stainless steel.

So, what’s the best choice for you? Consider these facts:

  • Over time, copper develops a special lining that protects from rust and other potentially harmful elements including algae and fungi growth, so blockages, with their related cleaning and maintenance expenses, will be significantly reduced.
  • Aluminum gutters need to be maintained to avoid corrosion and dents, so cleaning them and caulking them regularly is important. And since aluminum expands and contracts with the temperature, they’re prone to cracks, which need to be repaired in order to avoid leaks.
  • When it comes to affordability, vinyl tops the list because it’s lightweight and easy to install. Additional benefits include the fact that its color won’t fade, chip or crack over time. Vinyl can get brittle and snap in cold extremes, so it may not be the best option for homes in cold climates.
  • Steel ranks second when it comes to affordability, however, it’s important to note that it can rust in certain climates. Not only is it sturdy, but it can also hold a lot of weight, so sagging is less common.

The Future of Property Preservation #realestate #market #economic #housing #analysis #oregon #teamthayer

As an industry, property preservation is focused on providing the services to maintain and protect assets. To date, the industry has not really explored how software for the “Internet of Things” (IoT) can add a new dimension of control and help reduce costs. Is the industry missing out on an opportunity? Can the IoT help industry professionals do a better job with property preservation management?
The answer is yes. The good news is, there is a solution in the entry management space.
First, let’s look at the problems with traditional keys. They can be easily lost or copied, and rekeying costs money. What if there was a software that, if paired with a Bluetooth lock device, could ensure that the investor, servicer and property owner all know who enters the property, when they do so, and how long they remain inside?
Imagine a digital keyless entry management system that enhances security and simplifies the management of access to properties. The good news is that digital entry management has arrived, allowing for a “keyless” environment. This technology eliminates issues with traditional keys being lost or duplicated, reduces the potential for theft and vandalism, and provides an audit trail of property entry.
Many properties in default are either without power or do not have Wi-Fi connectivity. This is where a Bluetooth lock becomes important. Bluetooth is cost-effective, provides a stable environment, is simple to deploy and requires neither power nor a Wi-Fi hub—nor the associated maintenance. Furthermore, some of the locks on the market require proximity and a physical touch to awaken. This is critical for security. The software also encrypts all communication and the battery life can extend to approximately two years.
The lock and associated software are relatively easy to install and set up. Software with a web-based console facilitates entry management to numerous properties and allows for administration from any location. The software is built to manage from one to several thousand properties. For small quantities, the mobile app is ideal, and for large property volumes, the web-based management console has a sophisticated hierarchy, allowing users to decide how they want the day-to-day control and reporting established. The software informs users of the remaining estimated battery life and will send warnings when the power drops to 30 percent and below, providing ample time to change the batteries (which is a two-minute process).
Ownership can also be transferred in a matter of seconds, there is no more rekeying required, and all previous entry permissions can be certified as wiped from the device. In the event a user does not have a working smartphone, the lock software can accept an authorized RFID or fob. Just as easily as you can grant entry to a property, you can revoke it. Simply revoke the access permission from within the software and ability to enter a property will no longer be available. You can restrict date and time either on a regular schedule or as a one-off event.
In the unlikely event that a smart lock is installed on the wrong property or there is a need to give access to an owner who may have been in payment arrears and is now current, within a few minutes, assuming the owner can prove their identity, a link can be sent to the individual’s smartphone to allow entry.
Nothing screams “vacant” more than a lockbox. Lockboxes can draw the attention of the wrong crowd, often leading to vandalism and neighborhood blight. Smart locks powered with entry management software add to the curb appeal, do not attract unwanted attention and alert you when they are opened. We are looking forward to seeing the industry adopt the technology, adding greater control and avoiding rekey costs.

Where Home Prices Are Headed Team Thayer #realestate #economic #housing #market #investment #news #oregon

Home prices continued to rise in April, with no signs of slowing down anytime soon. No real surprise, then, that a new Gallup survey finds most Americans anticipating that price climb to continue on its upward trajectory. But is that ongoing increase deterring those surveyed from shopping for a new home if they’re ready to do so?
For a majority of respondents, that answer is no.
Gallup's annual Economy and Personal Finance poll, conducted April 2-11, found that most Americans surveyed were aware of this trend and expected it to continue. When asked, “Over the next year, do you think that the average price of houses in your area will increase, stay the same, or decrease,” 64 percent responded that they anticipated local home prices would continue increasing. That percentage is up nine percentage points over the past two years and now marks the highest percentage Gallup has measured since 2005.
Twenty-six percent of those surveyed said they expected home prices to stay the same, and only 10 percent expected prices to go down.
Sixty-five percent of those surveyed also said they believed now was a good time to purchase a home. This is down from 74 percent in 2014 but still well above the lows near 50 percent that were recorded between 2006 - 2008. Since Gallup began asking that question in 1978, the percentage of respondents saying it was a good time to purchase a house has never dropped below 50 percent. “To some degree, Americans may answer the question in terms of both housing market conditions and their views about buying a house as a long-term investment,” Gallup notes.
In the 2005 survey, 70 percent of Americans said they expected home prices to rise over the following year. By April 2007, that percentage had dropped all the way to 52 percent. By 2008, expectations had flipped considerably, with Gallup reporting that 38 percent of those surveyed expected prices to decrease, as compared to 29 percent who expected an increase. By 2013, a majority (51 percent) once again tipped toward believing prices would increase, and that number has been on the rise ever since.
The sentiment that prices will increase is strongest in the West at 79 percent—up 15 percentage points over the 2016 survey. The South recorded the next highest response, with 64 percent anticipating price increases (although this represented only a 3 percentage point increase over Southern sentiment from the 2016 survey). Next was the East (58 percent, up 10 percentage points over 2016) and the Midwest (56 percent, up 11 percentage points).
“High demand and limited supply of homes are putting upward pressure on home prices, leading many real estate experts to urge prospective buyers to get into the market now, before rising prices and interest rates make homes too expensive to afford,” Gallup’s survey states. “Americans appear to be aware of housing market conditions, with their opinions of whether home prices will rise trending in the same direction as U.S. home prices. But they also may be aware that it is becoming more of a seller's market than a buyer's market. While they remain optimistic that it is a good time to purchase a home, they are less optimistic than they were four years ago, when houses were more affordable and interest rates were lower.”

A “fair” credit score between 640 and 679 will cost a borrower #realestate #economic #housing #market #investment #news #oregon

A “fair” credit score between 640 and 679 could cost a borrower around $720 a year in extra mortgage payments than a borrower with an “excellent” score, according to a new Zillow study.
Zillow analyzed Annual Percentage Rate (APR) terms offered to borrowers on Zillow Mortgages and found that “a borrower with a fair score will pay 7 percent more over the life of a 30-year mortgage for the same home as an otherwise identical borrower with a credit score above 760.” To put that in clearer numbers, that 7 percent would add up to nearly an extra $21,000 during the life of that mortgage. Or, as Zillow puts it to provide context, “roughly equal to one year’s tuition costs for an out-of-state student at a public university, or the cost of a new car.”
Breaking things down further, Zillow posited a hypothetical “ buyer with an excellent credit score in Los Angeles earning the area’s median income and purchasing the typical L.A. home.” That buyer could likely expect to be offered an average APR of 4.50 percent. With a standard 20 percent down payment, that borrower would pay around $31,000 a year on a $645,000 home, eventually totaling $942,000.
Were that borrower’s credit score to be 80 points lower, firmly in “fair” territory, and received a commensurate APR of 5.12 percent, it would cost the borrower an extra $2,300 per year—or nearly $70,000 more over the life of the loan.
“Under these same assumptions, the total additional costs over the life of a 30-year loan on a typical local home for those with fair credit compared to excellent credit range from $129,000 in San Jose to around $9,000 in Pittsburgh among the larger metros,” stated the Zillow report\

Foreclosure Prevention Actions #teamthayer #realestate #economic #market #housing #economy

The GSEs, Fannie Mae and Freddie Mac, completed nearly 20,000 foreclosure prevention actions in February 2018, according to the latest Foreclosure Prevention Report issued by the FHFA.
The exact total of foreclosure prevention actions for February 2018 came to 19,932. Since the beginning of the conservatorships in September 2008, the GSEs have completed a total of 4,084,139 foreclosure prevention actions, with more than half of those being loan modifications.
For February 2018, the GSEs completed 10,606 permanent loan modifications, bringing the total under the conservatorships to 2,173,383. Forty-six percent of February’s loan modifications involved principal forbearance. Forty-two percent of February’s modifications involved modifications with extend term only.
According to the report, there were 794 short sales and deeds‐in‐lieu of foreclosure completed in February. That’s down 23 percent compared to January 2018’s 1,026 total.
The serious delinquency rate at the end of February was 1.16 percent, down slightly from January’s 1.17 percent. As of February, 397,076 loans were reported 30-59 days delinquent, up compared to the January total of 370,705. Sixty-plus-days delinquent loans totaled 432,418, down slightly from January’s 443,103.
Black Knight recently reported that the national delinquency rate for March 2018 was 3.73 percent, with the highest delinquency rates recorded in Mississippi, Louisiana, Florida, Alabama, and West Virginia. North Dakota, Minnesota, Washington, Oregon, and Colorado boasted the lowest delinquency rates.
Third‐party and foreclosure sales also decreased in February, dropping from 5,000 in January to 4,311 in February. Foreclosure starts slid from 16,003 in January to 15,246 in February.
For comparison’s sake, Black Knight’s March 2018 data found foreclosure starts up 12 percent over the month with 70 percent of the increase concentrated in areas impacted by hurricanes. Active foreclosures were down in hurricane-impacted markets, with a 7 percent decline in Texas and a 23 percent decline in Florida over the year in March. The market impact of the hurricanes has been “relatively muted as a result of ongoing forbearance programs,” according to Black Knight, and “it will be a number of months before the true foreclosure impact from these storms is revealed.”

Here are the best times to sell a house in Oregon Team Thayer Real Estate News #oregon #market #economy

Here are the best times to sell a house
  
Conventional wisdom has long held that the best time to sell a house is in the spring and summer months. But does the conventional wisdom hold up to cold, hard facts? 

Property data company ATTOM Data Solutions analyzed nearly 15 million home sales between 2011 and 2017. Here’s some of what they found: 
  • May is the best month to sell a home. Homes sold in this month received on average Why do warmer months perform better? According to Realtor.com, selling a house in warmer weather means more accurate comps (since more area homes are selling), blue skies and bright flowers (which improve the appeal of nearly every property), and heavy competition for homes (which sometimes results in bidding wars).5.9% more than their estimated market value.
  • April, May, June, and July present the top months for selling a home.
  • Avoid — if you can — the final quarter of the year unless you’re in a warm weather climate.
 
Attom broke it down further, identifying not only the best months to sell but the five best DAYS, too. They are: 
  1. June 28: The seller premium is 9.1% above market
  2. February 15: 9% above market
  3. May 31: 8.3% above market
  4. May 29: 8.2% above market
  5. June 21: 8.1% above market
 

Goldman Sachs Mortgage Relief Settlement


Goldman Sachs is approaching the billion-dollar mark for mandated consumer-relief actions stemming from two mortgage-related settlement agreements with the U.S. Department of Justice and three states. Professor Eric D. Green, who serves as independent Monitor for the company’s consumer-relief agreements, announced this week that Goldman Sachs has thus far provided $993,420,822 in consumer relief, or 55 percent of the $1.8-billion target.
Eric D. Green, a professional mediator and retired Boston University law professor, was named by the settling parties as independent monitor with responsibility for determining whether Goldman Sachs fulfills its consumer-relief obligations.
Since his previous report on February 15, 2018, Goldman Sachs has forgiven $61,610,295 in principal on 666 first-lien mortgages, Professor Green reported. The average principal forgiveness for the loans was $92,508, and the reportable credit toward the total owed was $75,278,610, “after the application of appropriate crediting calculations and multipliers.”
The modified mortgages were located in 41 different states and the District of Columbia. Professor Green also reported that 26 percent of the relief occurred in New York, Illinois, and California, and 45 percent of the credit was in the Hardest Hit Areas, “census tracts identified by the U.S. Department of Housing and Urban Development as containing large concentrations of distressed properties and foreclosure activities.”
According to the media statement, the 2016 Goldman Sachs settlement stemmed from “legal claims against Goldman Sachs regarding the marketing, structuring, arrangement, underwriting, issuance, and sale of mortgage-based securities.” Goldman Sachs settled with the DOJ, California, Illinois, and New York, as well as the National Credit Union Administration Board and the Federal Home Loan Banks of Chicago and Des Moines.
Goldman Sachs has until the end of January 2021 to meet its requirement of paying “a total of $5.06 billion, including consumer relief valued at $1.8 billion.”