Team Thayer Property Servicing

Consumers grow uneasy as the spring season comes to a close and recent gains in the housing market begin to decline.  Clear Capital, Inc. , a provider of data and solutions for real estate asset valuation and collateral risk assessment, recently released its  Home Data Index (HDI) Market Report with data through June 2015 that shows that 2015 will be a non-growth year. In January, the company forecasted total national housing market growth for 2015 to reach 1.3 percent, more than five percent lower than growth for 2014 at 6.7 percent. The adjusted forecast presumes that year-end national growth will come in at 2.6 percent, falling within the projected range of 1 percent to 3 percent. “With a first full look of the spring buying season and six-month update to the forecast, our data through June confirms our initial projection that 2015 would be a non-growth year," said Alex Villacorta, Ph.D., VP of research and analytics at Clear Capital. “Here we are six months later, ...

Imagine 3 appraisals on one property, and all of them have a different value. How can appraisers have any credibility when there is so much difference? I hear this question all the time, so I wanted to pitch in some thoughts to hopefully strike a balanced conversation for home owners, agents, and appraisers. Here are three points to consider for perspective. Any thoughts? Range of Values:  We like to think value is incredibly precise, but one of the best things we can do is realize there is a range of value in real estate. This means realistically buyers might be willing to pay anywhere between $330,000 to $340,000 for a particular property instead of such an exact figure of $334,568. The same is true when we buy a new car or even buy something on Craigslist. Rather than being tied down to one exact figure, we often recognize there is a price range we’d be comfortable paying. We might think of a Camry as having a value anywhere from $21,500 to $23,000 or a used bookcase being...