Team Thayer Property Servicing

The  April 2015 First-Time Buyer Mortgage Risk Index  (FBMRI) for Agency loans increased by nearly a full percentage point year-over-year up to 15.28 percent, indicating that those mortgage loans are moving deeper into the high-risk category, according to data released this week by the American Enterprise Institute (AEI)'s  International Center on Housing Risk . Risk layering is largely responsible for the increase in risk on mortgage loans taken out by first-time buyers, according to AEI. Seventy percent of first-time mortgage buyers in April 2015 had a combined LTV ratio of 95 percent or more and 97 percent of them had a 30-year term. Without substantial home price appreciation, the low down payment and slow amortization makes it likely that these first-time buyers will have very little equity in their homes for many years. Also contributing to the higher risk among first-time buyers is that approximately one-fifth of them fit the traditional definition...

1. STUDY THE MARKET Most homeowners enlist the services of a real estate agent to market their home and perform a variety of tasks, including reaching out to a network of buyers' agents, preparing the home for viewing and dealing directly with prospective buyers. That shouldn't preclude sellers from being knowledgeable about the process, however. "The most important thing in pricing and getting your house sold fast is to do your homework," said Michael Corbett, a real estate expert at Trulia, a housing information and listing website. Trulia and other online real estate sites, such as  Redfin.com  and Zillow.com  feature searchable maps and home sales data. Look up what similar homes have sold for in the last 30 to 60 days and how long they've been on the market. You can also see whether those homes sold for less or more than their initial asking price. 2. BE PATIENT Some sellers may be tempted to press thei...