Team Thayer Property Servicing

The Internet has changed the way buyers shop for homes.  Where once people drove around neighborhoods, they now do the majority of their browsing online. The popularity of the Internet has led not only to websites by Realtors and real estate companies such as  RE/MAX,  it has also lead to websites by third parties.  These websites garner a lot of traffic,  but the information they contain may not always be accurate.   This is especially true when searching for foreclosed homes and pre-foreclosures. What is a Pre-Foreclosure? A pre-foreclosure is home in which the owner is more than 90 days delinquent on payments.  The bank has begun the foreclosure process,  but these properties are not yet for sale.  Pre-foreclosures don’t always come onto the market.  Not everyone wants to sell.  Instead, homeowners might work out a deal with their bank or they might file for bankruptcy. Online real estate databases such as  Zillo...

How tough are VA appraisal guidelines? Any appraisal will help a lender determine a property’s value. But VA appraisals go beyond conventional appraisals by incorporating a second function: ensuring that homes meet the  VA’s Minimum Property Requirements (MPRs) . Veterans need homes in good repair, not dicey money pits. In pursuit of that goal, MPRs establish basic standards  for a home and its contents. Electrical and plumbing systems must be in good condition, roofs must be defect-free and basements must be dry. Homes that fail to measure up to VA MPRs can’t be financed through the VA loan program. VA appraisal guidelines can be strict and can eliminate fixer-uppers from contention. Many of the guidelines can be frustrating for military buyers who are considering older homes in need of renovation. But it’s important to note that VA appraisal guidelines aren’t as different from modern conventional appraisal standards as they once were. Thanks to the housing market m...

Managing Your Bottom Line Insurance costs continue to rise, although industry experts predict rates will increase at a slower rate or remain flat in 2015.  Commercial insurance  saw a modest 3% increase overall in the third quarter of 2014. Compared to increases as high as 6% in previous years, that’s a welcome bit of news. The asking price for homes (market value) likely influenced the diminished growth. According to  MarketWatch , although some metropolitan areas are still accelerating home prices are flattening out in many markets. If you’re going to manage your own properties, it’s imperative that you research state and federal requirements about coverage  and  understand your options. Coverage varies from state-to-state and depends on the company you choose, but here are some options to consider. Comprehensive: Covers property owners from sudden loss not excluded elsewhere in your policy. Named Peril Coverage: Covers specific natural and accidental...