Team Thayer Property Servicing

CLICK HERE TO VISIT THE TEAM THAYER WEBSITE TEAMTHAYER.COM Posted  Yesterday  by  Justin Lee Thayer

CLICK HERE TO VISIT THE TEAM THAYER WEBSITE TEAMTHAYER.COM Posted  Yesterday  by  Justin Lee Thayer

Both seasoned and novice investors need to understand one concept above all else: the real estate industry is all about the people.  Without clients, investing would be a rather fruitless feat. This isn’t groundbreaking news.  Entrepreneurs are constantly striving to figure out what their customers  want .  While knowing what they want isn’t a bad place to start, understanding  why  they want it will be far more advantageous for your business’ bottom line. Want vs Why Suppose your are selling a home to a woman and her child.  You can ask the basic questions: “what is your price range?”, “where is your ideal location?”, “how many bedrooms will you require?”, and so on.  Although these questions are valuable – and come with answers you will ultimately need to have – their answers are less significant than answers to “why” questions.  “Why” questions reveal your clients’ motivations behind their purchase, helping you to better understan...

market in the last two years has led to an increased number of SFR homes built for the expressed purpose of renting. The market for detached SFR homes built-for-rent is on the rise despite a falling market share in the last three years, according to   Robert Dietz, Vice President for Tax and Market Analysis for NAHB .  For the fourth quarter of 2015, built-for-rent SFR homes accounted for about 3.5 percent of all SFR starts, according to data from the Census Bureau ( Quarterly Starts and Completions by Purpose and Design ) and analysis from the National Association of Home Builders. While that market share is higher than the historical average of 2.8 percent, it is more than 2 percentage points lower than the market share at the start of 2013, just three years ago (5.8 percent). Meanwhile, the number of SFR homes built for the purpose of renting ticked up from 25,000 in 2014 to 26,000 in 2015, according to NAHB. “The market for single-family for-sale homes is grow...

The payment shock facing homeowners who originated a Home Equity Lines of Credit (HELOCs) between 2004 and 2007, known as legacy HELOCs shock once they reach the end of their 10-year draw period might not be as big a problem as originally thought, according to a white paper titled “ Home Equity Lending Landscape ” issued by CoreLogic   on Monday. t he mortgage industry originated approximately 12.2 million HELOCs during the three-year-period between 2004 and 2007, often with loose underwriting standards. Some in the industry   have expressed concern   that a large number of borrowers with legacy HELOCs will default because they cannot handle the payment shock that awaits them when they reach their end-of-draw period, which is the point at which borrowers must start repaying their balances with fully amortized payments (as opposed to interest-only) and cannot borrow funds from their lines of credit any longer. Many of the riskiest legacy HELOCs issued during those...

The risk on Agency first-time buyer mortgages is rising while the disparity in risk between Agency first-time buyers and repeat buyers is growing wider, according to the  AEI International Center on Housing Risk ’s First-Time Buyer Mortgage Risk Index (FBMRI) for January 2016 released Monday. The Agency FBMRI provides an estimate of the share of Agency first-time buyer mortgages that would default if the economy were to suffer adverse conditions similar to those during the 2007 and 2008 financial crisis. In January 2016, the FBMRI increased over-the-year by 0.7 percentage points up to 15.7 percent and is 6 percentage points higher than the Agency risk index for repeat buyers. The gap between the two continues to grow wider, according to AEI. More than half (54 percent) of first-time buyer loans in January were high risk, meaning they had an MRI higher than 12 percent. That share jumped by 2 percentage points over-the-year, up from 52 percent in January 2015. Risk laye...

Mortgage rates continued their trend lower  over the past week, but the path was not smooth. Shifts in demand for risky assets, such as stocks, and also safe assets, like mortgage-backed securities, caused mortgage rate volatility. Not even higher inflation levels could keep rates from ending the week at better levels. The outlook for future inflation  plays a major role in setting mortgage rates. Higher inflation causes investors to demand higher yields. There are many components captured in inflation reports, and their costs change at different rates. Of note, there has been a large divergence between the cost of goods and services in the U.S. A stronger dollar and the large decline in commodity prices have helped hold down the cost of goods over the past year. The service sector, however, has remained strong and costs have been rising somewhat rapidly. Shelter and medical costs stand out as significant sources of inflation. The most recent readings show  that infla...

First mortgage default rates started the new year exactly where they left the old one, according to the latest  S&P/Experian Consumer Credit Default Indices  (a.k.a.  SPICE  Indices), released Tuesday. According to the report, first mortgage and auto loan default rates were unchanged for January, with default rates of 0.84 percent and 1.04 percent, respectively. Three of the five major cities, Los Angeles, Chicago, and Dallas, did see their default rates increase in January over December, however. Los Angeles reported a default rate of 0.72 percent, which is up seven points from December; Chicago increased two points to 1.02 percent; and Dallas rose one point to a default rate of 1.11 percent. Of the remaining major cities on the SPICE Indices, New York recorded a default rate of 1.04 percent in January for the second consecutive month, while Miami showed a huge decrease of 27 points in January, reporting a default rate of 1.17 percent for the month. Tu...

Construction workers build homes in spring 2015 to accommodate an expanding population at a development off Lakeshore Avenue in Vancouver. (Columbian files) By  Brooks Johnson , Columbian Business Reporter Published:  February 5, 2016, 6:00 AM Homebuilding is soaring to catch up with the post-recession market rebound in the Portland-Vancouver metro area, while the median home sale price in the region is now at a record high. A new report by the RealtyTrak research firm noted that the median home sale price in the Portland metro area reached an all-time high of $294,000 in June 2015. By December, the region’s median home sale price had climbed to $320,000, according to the Market Action report produced by the Portland-based RMLS real estate listing service. Home sale prices in Clark County also hit a new high in 2015, with the $272,200 median in September exceeding the pre-recession peak of $267,500 in September 2007. But home sale prices i...

According to Randall Bell, a real estate broker who specializes in real estate damage valuation, a non-natural death in a home can drop the value 10-25%. "When you have an image that someone was murdered, it can be uncomfortable when you are living there." He's consulted on the valuations of homes involved in some high-profile deaths, including O.J. and Nicole Brown Simpson's condo and the home of Adam Lanza, the gunman at Sandy Hook Elementary School. The Lanza home in Newtown, Connecticut, ended up being demolished. "Some circumstances are so horrific...that the property loses all value," Bell said. Disclosure rules vary by state and some are more strict in what buyers need to be told about a home's history. Bell said about half of states require a homicide be disclosed and that New York and California tend to be the most strict about disclosures. Finding buyers willing to pay list price for a home with a dark past can be a struggle. ...

1  / 30 Wilsonville has quietly become one of the hottest development spots in the metro area in recent years for single-family homes. Most of the activity has happened in the Villebois area, the former site of Dammasch State Hospital slated to eventually have nearly 2,700 new homes. Villebois, which covers nearly 500 acres and was built with urban renewal dollars, is over halfway there now. Luke Hammill/Staff Luke Hammill | The Oregonian/OregonLive Print Email By  The Associated Press  Follow on Twitter on February 16, 2016 at 10:13 AM U.S. homebuilders are feeling less confident about their sales prospects ahead of the spring home-selling season, though they remain positive overall that the housing market will continue to improve this year. The National Association of Home Builders/Wells Fargo builder sentiment ...