Monday, June 30, 2014

Understand the Mortgage Process to Make Buying a Home Easy

When buying a home, mortgage lenders tend to be very strict on whether or not they will allow you to take a loan for a mortgage as a result of the recent housing bubble and consumers defaulting on loans. If the lender that you are speaking with is asking a lot of questions, don’t panic! Usually they are trying to figure out ways to assist you in getting the best possible mortgage rate.
When working with a lender, you must first educate yourself on the standards that they are going to be looking at when it comes to whether or not they will provide you with a mortgage. Mortgage lenders are chiefly concerned with your ability to repay the mortgage. To determine if you qualify for a loan, they will consider your credit history, your monthly gross income and how much cash you’ll be able to accumulate for a down payment. Once those factors have been explored and you have been approved for a loan by one of the mortgage lenders, be sure to prepare yourself for buying your dream home. Be sure to also keep in mind some essential questions to ask yourself when deciding to seal the deal.
When it comes to getting a mortgage, the good news is that lenders are finally relaxing lending standards, which could significantly increase housing demand. The median FICO score for approved mortgages has fallen from 750 to 729 in the past 12 months and 30% of closed loans had an average FICO score below 700 in November 2013. Closing rates in November also improved significantly over October, according to Ellie Mae’s November 2013 Origination Insight.
Once you’ve secured a mortgage and the deal is closed, you’ll finally be able to move in and enjoy your new space. However, before you get to that final step, it is crucial to ensure that everything is aligned in such a way that will be rewarding to you and your family in the long run. For additional insight, be sure to connect with a real estate professional in your area or on the Homes.com Q&A Channel.

Call Justin Thayer 541-543-7287
www.teamthayer.com

The Team Thayer Commitment to Sellers

  • I will do a complete Reconnaissance on the rsd
  • Present you with a comprehensive market analysis of your home to establish fair market value.
  • Provide you a free home-staging evaluation from a professional home stager (if applicable).
  • Guide you in making the appropriate decisions on how to best prepare your home, so that you may achieve the highest sale price and sell in the quickest amount of time.
  • Prepare and sign a Listing Contract as well as any other necessary legal documents.
  • Take professional photos of the property.
  • Complete the listing and enter it into 

  • Place a Tucker sign (one of the most recognized symbols in Indiana) on the property.
  • Place an electronic lock box on the property that can only be accessed by licensed agents.
During the listing, Team Thayer will….
  • Place a flyer box in front of the home (if applicable).
  • Place, attractive, detailed informational packets inside the homes for touring parties.
  • Mail “Just Listed” cards to your neighbors.
  • Contact all area-agents to inform them of the new listing.
  • Contact all potential buyers with details of the listing.
  • Hold open houses, if desired.
  • Arrange showings for other agents.
  • Send weekly updates about our activity, competition, feedback, etc.
  • Talk in person or on the phone every 30 days to discuss everything that has occurred over the last month.
  • Follow-up on each showing to obtain prospects’ reactions.
  • Always be available to you!
After receiving an offer and prior to closing, Team Thayer will….
  • Pre-qualify the potential buyer(s) and make sure they are working with a qualified lender.
  • Present and discuss all offers with you, so that you fully understand what is being offered.
  • Properly represent you and your interests throughout the negotiation process.
  • Provide detailed, estimated net sheets, that will give you an estimate of your net proceeds.
  • Negotiate all inspection issues on your behalf to minimize any additional costs that you may have.
  • Provide you with a list of qualified contractors to assist with any and all repairs, if needed.
  • Confirm that all contingencies on sales contract are completed in an efficient manner.
  • Monitor closely all lender activities to make sure that they are being completed in a timely manner.
  • Finalize and prepare you for what to expect at the closing.
  • Discuss the HUD Settlement Statement with you and make sure that you understand all the credits/debits associated with your sale.
At the closing,Team Thayer will….
  • Attend the closing and answer all questions.
  • Maintain a file of all closing papers.
  • Supply you with a copy of all necessary documents.

What Not To Do Before Selling Your House

1.  PAINT EVERY ROOM A DIFFERENT COLOR

Before selling your home, it’s not necessary to paint every single wall white. What is important is to stick to a cohesive color scheme that is neutral and will appeal to lots of different people with different tastes.

2.  LET THE LANDSCAPING GO

It may be tempting to save on the flower budget if you hope to be out of your home before the summer ends. But investing in a few flowers will make your home look inviting to potential homebuyers. Also remember to keep flower beds weeded, the grass cut, and trees and shrubs pruned.

3.  SMOKE INSIDE YOUR HOME

If you are a smoker who smokes inside your home, stop as soon as you think you might want to sell! Cigarette smell is very hard to remove from a home and the sooner you stop smoking inside, the easier it’ll be. Plus, it’ll prevent you from constantly shampooing your carpets and washing down the walls while you’re showing your home.

4.  LET YOUR HOME FALL INTO DISREPAIR

Homebuyers are more likely to buy a home that needs fewer repairs.  A home is a major purchase and the last thing homebuyers want to do after buying a home is to shell out lots of cash on things like a new roof, drywall, or furnace. Homebuyers tend to believe that even small repairs will cost more than they actually do so do yourself a favor, and fix what needs to be fixed.

5. CLUTTER UP YOUR HOME

Clutter and dirt will cause potential homebuyers to believe you didn’t care for your home well. Show them how much you loved and cared for your home (and how much they will too!) by keeping it clean and clutter free!

How to Hire The Best Realtor Possible When Selling Your Home. By Eugene Oregon Top Realtor Justin Thayer

Real Estate is similar to most other industries in that your professional must be licensed in the state they are doing business, so how can your friend or family member who may be over 2,000 miles across the country help you find an ethical, trust-worthy agent to represent your best interest? The answer is easy! Ask for a referral.


We all want to do 'good business'. Part of good business is trusting who those close to us have trusted in the past. Most agents take referrals very seriously. We work hard and strive to pro-actively build a strong network of agents across the country and around the globe. We know we live in a mobile society and we can't be bound to just one geographic location, but we also can't realistically be licensed and service everyone in every state. 

Here at the Greenleaf-Elving Group, we dedicate several hours each week just to agent outreach and networking. When we travel, we reserve time to meet the agents and office managers in that region. We feel it is, in fact, our fiduciary responsibility to provide our friends, clients, partners, and associates around the country and the world reliable, ethical, result-driven agents for all of their real estate and lifestyle needs.

So what are you waiting for? Reach out to an agent or broker in your inner circle no matter where they may be located (we all know someone in real estate!); educate them on your needs and let them do the leg work for you. Don't trust a Google search or Yellow Pages listing alone, trust in those who you already trust to deliver what may be the path to the most important investment of your life! 

Call The best! Justin Thayer  with Team Thayer
541-543-7287 

 www.teamthayer.com

Selling Your Home Fast for more money / Pricing & Staging....

Before deciding on a price to list your home, let's debunk a few myths: 

  • Myth: ouY should always ask more than market value to leave room for negotiations.
  • Courtesy of Top Producer
    • The fact is, neither you or the buyer determine the selling price of your home. The market determines that. If you overprice, and you're fortunate enough to even get someone to consider your home for purchase, they and their agent will likely come back and offer a price based on fair market value plus or minus any special adjustments. The idea from the start is not to scare potential buyers away by having a house priced above what the market says is fair.
  • Myth: Pricing high will help bring in more well-qualified, affluent buyers.
  • Courtesy of Top Producer
    • On the contrary, it is financial nonsense to pay more than fair market value for anything. Even if the buyer is paying cash, wise buyers will always have a formal appraisal to determine the actual market value. Think about it, if you walked on to a new car lot, and saw a 3 year old BMW that Kelly Blue Book said was worth $33,000, would you pay $40,000 for it? Probably not!
  • Myth: Pricing high for the first few weeks to see if we get any high-bites will allow us to reduce the price for everyone else later.
  • Courtesy of Top Producer
    • The way buyers shop for homes has changed in the 21st century. Thanks to the Internet, your selling strategy is transparent. Buyers receive alerts both automatically and from their agents when well-priced properties hit the market and they move on them. The days of strategically listing a property the Saturday before the local bi-weekly real estate magazine hits shelves are over. If a buyer sees your property listed too high, it will often get the cold shoulder and become stale after 3-5 weeks. Your key time for exposure, marketing and showing is weeks 3-5. Buyers and agents alike see listings older than this as progressively stale. Pricing right during your prime exposure is critical. 
Staging for Success
  • Clean, wipe down, and tidy daily. Make it a daily habit to ensure all personal belongings are put away in their place, floors should be swept, vacuumed and mopped regularly, counters should be tidied and wiped down, pillows, beds, cushions and blankets placed, folded and made properly. 
  • Personal Valuables such as jewelry, electronics, firearms, etc should be locked up and stored securely. This includes calendar magnets showing personal appointments (remember although accompanied by a licensed agent, strangers will be touring your home, your privacy is important).
  • Photos & Decorations should be hung and symmetrical to the room. Photos of your family should be removed and packed. Only generic photos, painting and decorations should be displayed. Use caution not to over-decorate to make the house feel cluttered.
  • Light Bulbs: Should be replaced so rooms light up brightly and all the same tone/shade of light.
  • De-clutter: rooms, floors and hallways should be free and clear of personal belongings, you should be able to walk freely around the home without tripping over personal belongings.
  • Fresh Plants are always a nice touch; Be sure to only place plants with mild pleasant fragrances. Better yet, invest in an essential oils burner and burn essential oils.
  • Adjust Furniture - Move your furnishing around to maximize the space in each room.
www.teamthayer.com
Justin Thayer 541-543-7287

Brand New Team Thayer. 5 Bed 3 Bath 1/4 AC lot ! excellent shape! Good condition only $265000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

3987 Eddystone Pl

Eugene, OR

Excellent Deal on a 5 bed 3 Bath SHORT SALE ! Very large home in Good condition!

4Bd/3Ba Single Family House

$265,000

Year Built
1996
Sq Footage
2158 sqft.
Bedrooms
4 Beds
Bathrooms
3 Baths
Parking
4+ Garage
Laundry
In Unit
Lot Size
8712 Square Feet
Virtual Tour
www.teamthayer.com
Website
www.teamthayer.com

Description

Corner lot partially backing wooded common area. Newer laminate flooring, gas fireplace, skylights, vaulted ceilings, vinyl windows, great room off kitchen, formal dining plus eating bar, tile counters, and gas range. Large deck area, auto sprinklers, shed & RV parking.

click on a thumbnail to enlarge       

Make an Inquiry

Team ThayerTeam Thayer541-543-7287Key Realty Group Inc.


Tuesday, June 17, 2014

'Boomerang' Buyers Get Second Chance

'Boomerang' Buyers Get Second Chance

But a government program launched last summer by the Federal Housing Administration is helping these former home owners step back into home ownership in as little as a year after a foreclosure or short sale. The FHA’s Back to Work program allows them to qualify for low interest rates with a minimum of a 3.5 percent down payment. Applicants must show that the main culprit behind losing their home was that they lost at least 20 percent of their household income for at least six months. They also must show they’ve worked to repair their credit for at least a year.
Lenders are reporting an uptick in boomerang buyers coming in to explore financing opportunities for a home purchase.
"We see a lot of boomerang buyers,” says Matt Weaver, a lender with PMAC Lending Services in Florida. “I'd say about 20 percent of my current clientele has either suffered a short sale or a foreclosure in the past and are now re-buying back into the marketplace."
But while opportunities to apply for a home loan are increasing, some are hesitant to step back in, housing analysts say.
"Based on the fact that the home ownership rate isn't rising again and demand for single-family rentals is historically high, the comeback buyer is not a significant phenomenon in the market," says Mark Fleming, chief economist at CoreLogic. "Given the duration of the recovery, it's likely that many of the initially foreclosed borrowers have repaired their credit and are now creditworthy, but the scale at which they will enter the market is not sufficient to significantly influence demand."
Source: “‘Boomerang’ Homebuyers Getting a Boost From Uncle Sam,” CNBC (June 13, 2014)
call Justin Thayer @ 542-543-7287 for the best listing advice.

Friday, June 6, 2014

4745 Union Terrace Springfield Oregon #House #For #sale #Springfiled #O...

Price gains push 3.5 million homes above water | Inman News

Rising home prices propelled 3.5 million U.S. properties out of negative equity in one year, but the number of underwater mortgages will shrink at a slower pace in the future as price appreciation cools, according to data released today by CoreLogic and Trulia.
Approximately 6.3 million properties, or 12.7 percent of all U.S. mortgaged properties, were underwater in the first quarter of 2014, according to CoreLogic. That’s down from 6.6 million homes, or 13.4 percent of all U.S. mortgaged properties, in the fourth quarter of 2013, and 9.8 million homes, or 20.2 percent of all mortgaged properties, from a year before.
The rapid price appreciation that has lifted so many homeowners out from underwater has slowed recently. Asking prices were up 8 percent in May from a year ago, the smallest bump in 13 months but still far above the historical norm, according to the latest Trulia Price Monitor.
The home-price slowdown has tempered gains in “hyper-rebounding markets,” like Las Vegas, Sacramento and Oakland, California, Trulia noted. Such markets suffered more during the housing meltdown and typically have high rates of negative equity as a result.

The rapid price appreciation that has lifted so many homeowners out from underwater has slowed recently. Asking prices were up 8 percent in May from a year ago, the smallest bump in 13 months but still far above the historical norm, according to the latest Trulia Price Monitor.
The home-price slowdown has tempered gains in “hyper-rebounding markets,” like Las Vegas, Sacramento and Oakland, California, Trulia noted. Such markets suffered more during the housing meltdown and typically have high rates of negative equity as a result.

US employment finally back to pre-bust levels, latest report ‘no game changer’ for housing | Inman News

As economists had expected, the latest employment numbers from the Bureau of Labor Statistics show that with the U.S. adding 217,000 jobs in May, the number people in the workforce has finally surpassed pre-bust levels, to a new all-time high.
Unemployment is still higher than most would like — 6.3 percent by the most commonly employed measure, and higher by others. The so-called U-6 measure, which includes 7.3 million people working part-time because that’s all they can find, stood at 12.2 percent, notes Calculated Risk blogger Bill McBride.
Long term unemployment remains a key problem, McBride says — 3.374 million unemployed workers have been on the hunt for a new job for more than 26 weeks. But overall, “this was another solid employment report,” the widely followed blogger wrote.
McBride says he’ll be retiring what some readers have called the “scariest jobs chart ever,” which he’s been running to show the severity of the downturn, “until the next recession.”


Monday, June 2, 2014

Watch Out For Foreclosure Traps

Real estate has so many surprises for the first time investor it is difficult to describe them all in one article although I will attempt to give some insight into a different investment opportunity today. There are in real estate what is known as real estate owned REO lists and these can provide a investor with absolutely amazing opportunities and the returns from these type of investments can be very lucrative. Just be very aware of fraudulent schemes where people offer you deals which does not exist.
There are many companies who claim to sell reo lists online, but a large portion of the properties on these lists either do not exist or are in terrible shape and therefore do your homework carefully before committing yourself. Do all in your power to gain as much information as possible about the company with whom you plan to do business and find out what experiences others in the business had with these companies. Although these references may not be completely foolproof at least they are better than nothing.
 Do not think that it cannot happen to you because the fact is these con artist actually make a living out of their dishonest dealings which signifies that a substantial amount of people are actually taken in by these people. It may the possible to learn something from the comments about these businesses online so do a Google search you never know what you may be able to learn in this way.  Where possible check out whether any relationship exist between the people that gave you the reference and the business.
Only agree to the deal if the purchases price can be held by a reliable third party like a lawyer until the deal has been satisfactorily concluded, like in an escrow arrangement. Any companies who are unwilling to do business in this way are most likely busy to deal crookedly. Simply refuse to get involved in a business transaction with such a business because the chances are very good that they are out to try and deceive you and if that is the case you can lose a lot of money, so beware, do not allow this to happen.
You should carefully enquire as to exactly what value such a company offer you as the customer and ask for a breakdown of exactly what the fees they charge are for and if there are any grey areas, watch out since the likelihood are strong that they are hiding something, especially when they cannot give a reasonable explanation why they charge that amount. Try determining how long the homes are on the REO list, because the longer such a home is on such list the more likely are that property to be vandalized.
Real estate has so many surprises for the first time investor it is difficult to describe them all in one article although I will attempt to give some insight into a different investment opportunity today. There are in real estate what is known as real estate owned REO lists and these can provide a investor with absolutely amazing opportunities and the returns from these type of investments can be very lucrative. Just be very aware of fraudulent schemes where people offer you deals which does not exist.
There are many companies who claim to sell reo lists online, but a large portion of the properties on these lists either do not exist or are in terrible shape and therefore do your homework carefully before committing yourself. Do all in your power to gain as much information as possible about the company with whom you plan to do business and find out what experiences others in the business had with these companies. Although these references may not be completely foolproof at least they are better than nothing.
 Do not think that it cannot happen to you because the fact is these con artist actually make a living out of their dishonest dealings which signifies that a substantial amount of people are actually taken in by these people. It may the possible to learn something from the comments about these businesses online so do a Google search you never know what you may be able to learn in this way.  Where possible check out whether any relationship exist between the people that gave you the reference and the business.
Only agree to the deal if the purchases price can be held by a reliable third party like a lawyer until the deal has been satisfactorily concluded, like in an escrow arrangement. Any companies who are unwilling to do business in this way are most likely busy to deal crookedly. Simply refuse to get involved in a business transaction with such a business because the chances are very good that they are out to try and deceive you and if that is the case you can lose a lot of money, so beware, do not allow this to happen.
You should carefully enquire as to exactly what value such a company offer you as the customer and ask for a breakdown of exactly what the fees they charge are for and if there are any grey areas, watch out since the likelihood are strong that they are hiding something, especially when they cannot give a reasonable explanation why they charge that amount. Try determining how long the homes are on the REO list, because the longer such a home is on such list the more likely are that property to be vandalized.