Team Thayer Property Servicing

Regardless of what endeavor you undertake, you always want to succeed. However, the harsh reality is people do fail in spite of the hard work they put in. Some of the reasons for failure are negligence, silly mistakes and being complacent. Failure is quite common to real estate investors and sometimes it can be so severe that these investors can get bankrupt. But why do real estate investors fail? What are the mistakes that they make? Here are the five major reasons: Image Courtesy of  khunaspix  / FreeDigitalPhotos.net 1. Too Many Risks It all starts with risks which is inherent in investment. But when the risk gets so high that you have to pull out equity or refinance other properties, it means you are heading to bankruptcy. Risk is involved in any kind of investment, including real estate investment. However, it is important to understand the different ways to navigate through these risks in order to succeed. Future is indeed unknown. Thus, it is best to keep ...

 Default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1% from the previous month and up 16% from a year ago to a 19-month high, according to the latest report from  RealtyTrac . The U.S. foreclosure rate in May was one in every 1,041 housing units with a foreclosure filing. The increase in May was driven primarily by a jump in bank repossessions, which at 44,892 were down 1% from the previous month but up 58% from a year ago, and a 5% year-over-year increase in scheduled foreclosure auctions. REOs increased on a year-over-year basis for the third consecutive month, and scheduled foreclosure auctions have increased on a year-over-year basis in four of the last eight months. May REOs were 56% below the peak of 102,134 REOs in September 2013 but still nearly twice the average monthly number of 23,119 in 2005 and 2006 before the housing bubble burst in August 2006. (Also see special methodology note on REO da...

Since a borrower's credit score influences a lender's decision on whether or not to give that borrower a single family mortgage loan, the importance of having a good credit score when buying a home cannot be underestimated,  according to Freddie Mac's  blog on Monday. According to  Freddie Mac , the best way to earn a high credit score is to pay debts on time that include credit cards, car payments, or student loan payments. Since a  recent survey by TransUnion found that three out four consumers know their credit score is important but are unaware of the critical role the score plays when they are seeking a mortgage loan, on Monday Freddie Mac published a list of helpful hints (as reported by financial-education company Financial Finesse) to consider for consumers who are trying to build a solid credit score or consumers who may not know of its importance. A credit score between 661 and 780 is generally considered good, with 700 being the "sweet spo...

Recreational Marijuana in Oregon I was prompted from feedback on my last report on this subject to take a look at Colorado as a template on how to decipher the effect measure 91 will have on the market economics.  The news for investors  based on the Denver housing market is positive to say the least.  "There has been a huge bump in real estate prices due to the legalization of marijuana," according to James Paine, managing partner at West Realty Advisor's. "It's massively pushed up raw land and industry prices." I n March,  Denver experienced the second-largest jump in annual home prices at 10%, just behind San Francisco, according to the S&P/Case-Shiller Home Price Index. "The pot industry is creating jobs we didn't have before," said Kelly Moye, a Re/Max real estate agent who has worked in the Denver area for 24 years. "It's brand new, it adds a whole new factor to the area; you have real estate needs, housing need...

Selling Secret #10: Pricing it right Find out what your home is worth, then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market. Selling Secret #9: Half-empty closets Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy. Selling Secret #8: Light it up Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do wha...

A new study from the  Consumer Financial Protection Bureau  found that reverse mortgage advertising can be confusing and misleading, and issued a warning to older Americans to be on the lookout for potentially deceptive reverse mortgage advertisements. In the new study released Thursday, CFPB said that consumers were confused about reverse mortgages being loans, and they were left with “false impressions” that reverse mortgages are a government benefit or that getting a reverse mortgage would ensure consumers could stay in their homes for the rest of their lives. “As older consumers consider reverse mortgage loans to tap into their home equity, they need to be careful of those late night TV ads that seem too good to be true,” said CFPB Director Richard Cordray. “It is important that advertisements do not downplay the terms and risks of reverse mortgages or confuse prospective borrowers. According to the CFPB, the number of reverse mortgage originations is likely to i...

  This week marks a turnaround in real esate with reports uniformly showing strength. Job growth and relatively low mortgage rates are making buyers feel optimistic at model homes from coast to coast. N ew home sales activity picked up: Sales increased 6.8% in April Sales for the first 4 months of 2015 increased 23.7% over the same period in 2014 Supply is down relative to sales – now at 4.8% Median sales price is up 8.3% year on year due to decreased supply Pending home sales data from the NAR is positively effervescent: Homes going under contract were up 3.4% in April; March results were revised up by 1.2% This indicator has increased every month in 2015 to the highest level since May, 2006 The year-on-year gain is a very healthy 14% Mortgage delinquencies moved in the opposite direction in Q1. The national delinquency rate hit 2.95% according to TransUnion. This is the 13th consecutive quarterly drop and well below the market peak of 6.94% reached i...