Team Thayer Property Servicing

Despite strong sales and shrinking inventory, the recent  Redfin Housing Market Tracker  from Nela Richardson, Chief Economist for Redfin, states that home prices rose at the slowest pace of the year, up just 4.4 percent from last year. The report states that the average home sold for 93.8 percent of its list price. This was down from 94.4 percent last year which Richardson states signals that buyers’ bargaining position increased in August. Home sales increased 14.2 percent in August from a year ago, according to the report and this was noted to be a sizeable rebound from July’s decline. Richardson states that this is widespread, with 48 of 91 metro areas reporting double-digit increases in sales. The boost is cited to be due in part to a calendar aberration in July that pushed out some closings into August. Additionally, the report notes that in August 2015 sales fell 18 percent from the previous month and grew by just 2.6 percent year over year making it the low po...

Gone are the days real estate agents would rely on stand-alone images of a property to show off its best assets.  Aerial drone photography supplies potential buyers a better visual image of the property.  Check out the video by Household Photography based out of Nashville Tennessee. This video highlights the exterior of the property and the interior of the property. Most importantly the video sells a lifestyle in a way that static images cannot and will be an important tool for buyers working hard to find the  best lifestyle  for their budget. 1803 Ivy Crest Dr. Brentwood, TN  from  Household Photography  on  Vimeo . What the consumer wants the consumer expects!!! Economics 101, the consumer will always take the path of least resistance. Top producing agents already know how to “INTENSIFY” their listings, sale the lifestyle and not just the house. The first impression is the most important impression; real estate agents need to make...

The U.S. Department of Housing and Urban Development’s (HUD) latest housing scorecard provides a snapshot of the recovery of our nation’s housing market during August, according to a recent report from the agency.  HUD  states that as they look back, the agency has witnessed notable progress among key indicators. These include a surge in new home sales, increasing home values, and a continued decline in foreclosure starts and completions. HUD states that although this scorecard notes that the housing market is on a healthy trajectory, they believe that the industry must still stay committed to helping American families and homeowners. HUD dives deeper into these indicators so further assess the health of the housing market first noting that July purchases of new homes surged to the fastest pace since October 2007. The report states that additionally, new single-family home sales rose 12.4 percent in July to 654,000 (SAAR) and were up 31.3 percent over a year earlier. The...

There are many pros to getting a mortgage through a credit union — if you qualify. Credit unions have historically offered lower  mortgage rates  and  closing costs  than traditional lenders. Anyone searching for a mortgage to buy a  home for sale in Eugene, Or , or anywhere across the U.S. can’t turn down that deal. But credit unions also tend to be more conservative in their lending practices, meaning that you might need to jump through more hoops — and have an excellent credit history — to qualify for a loan through one. Take these pros and cons of a credit union mortgage into consideration when you’re shopping around for a loan — you may find that these loans are the right ones for your home purchase. Pro: Personalized service If you like shooting the breeze with the owners of local mom and pop establishments, you’ll probably like dealing with credit unions too. “If a consumer is interested in knowing his lender on a personal leve...

The complex millennial generation stirs up a lot of talk in the mortgage industry, mostly because they have come to be known as the financially unstable and indecisive, renter generation in the housing market. While some of these labels do prove true, this generation is just mostly misunderstood, one analysis found. The remnants of the housing crisis are making difficult for the 18- to 34-year-old cohort to break into homeownership, according to an in-depth analysis by  USA TODAY 's Hadley Malcolm. "Young buyers are caught in a quandary. Owning a home has many benefits, including tax breaks and the potential to build value, plus mortgage payments are often lower than rent for a comparable home—especially over the long term," Malcolm wrote. "But in some cities, rent can be so high that it's difficult, if not impossible, to save the recommended 20 percent down payment." Down payments are one barrier that young buyers face in the housing market. Acco...

 drop in first-time homeownership in the U.S. due to the lack of affordable housing has given single-family rental (SFR) securitizations a boost. Moody's Investors Service  said in a  report  that housing affordability for first-time homebuyers has been decreasing since 2000. This phenomenon has, in turn, provided a higher demand for rentals in the market. Moody's reported that the lack of affordability for first-time homeowners, due to a decrease in personal income and rising home prices, has hit the Generation Y cohort, especially hard as those in their 20s and 30s seek to form households and purchase homes. "A dearth of 'for-sale' inventory of mid-to-lower price homes, combined with ongoing tight credit conditions, forces many to remain in rentals," Moody's said. "In addition, many potential first-time home buyers are burdened with high student loans that further constrain their buying capabilities. As a consequence, demand for rentals is r...

Arm yourself with insider tips before you start the home search. Insider advice can also be a huge plus when you’re house hunting. We asked a range of pros, from agents with experience selling homes in  Austin, TX , to experts working in the Seattle, WA, real estate market, about their top real estate advice. Keep these tips in mind before you begin your search, and you’ll find yourself ahead of the game and in a great spot when it’s time to place an offer. 1. Look for flaws in the foundation When I was recently looking for investment property, I lost count of how many houses I saw that had stunning kitchens with  new appliances . But often, underfoot was a creaky, unleveled floor, cracks in the foundation walls, or backyards with water drainage issues. The kitchen remodel in these cases was, as the saying goes, “like putting lipstick on a pig.” Many sellers hope you’ll fall for this ploy by not looking past the shiny stuff. Be smart by hiring a home inspect...

Cash sales have declined overall nationwide since peaking five years ago, but they still account for the majority of home sales in the lowest 20 percent of property values, according to  Black Knight Financial Services’ April 2016 Mortgage Monitor  released Monday. Overall, the cash sales share has declined from its peak of 45 percent in Q1 2011 down to 35 percent for Q1 2016, a decline of about 22 percent, according to Black Knight. But a great disparity remains between the high and low ends of the housing market when it comes to cash sales. Cash sales still account for the bulk of transactions among homes in the lowest 20 percent of property values in their respective markets. Black Knight reported that 30 percent of sales in the highest 20 percent of property values were cash sales. When it came to the lowest 20 percent of property values, the share of all sales that were cash transactions more than doubled up to 62 percent. “While down significantly from its peak...

  Robert R. Hoose is Vice President with the  Law Offices of John D. Clunk  Co., LPA,  which is based in Ohio. Hoose is licensed in the federal and state courts in Ohio and Florida and is a member of the Ohio State Bar Association, the Florida Bar Association, and the Akron Bar Association.  Hoose recently talked to  DS News  in depth about  Ohio HB 463 , judicial and execution sales of real property.  The bill was included in  H.B. 134  and  recently passed in the Ohio State House and Senate  as part of a larger bill,  H.B. 390 , and is currently waiting for the governor's signature to become law.  legislature. Among the changes HB 463 will make are establishing expedited actions to foreclose mortgages on vacant and abandoned residential properties and permitting private sale officers to conduct judicial and execution sales of real property.  The bill was included in  H.B. 134...