Team Thayer Property Servicing

Tips For First Time Home Buyers With all the excitement of becoming a  first time homebuyer  it is easy to get caught up in the thrill of owning your own home. Before you sign any papers there are things you will want to consider. Credit:  Before you purchase a home you want to make sure you credit is in good standing. Poor credit can drive up mortgage rates and make it virtually impossible for you to purchase a home you may be interested in. Location:  One very important thing first time home buyers have to think about is the location in which their potential home is located. Long Term Plans:  Always make sure you take the future into account before you lock yourself into any FHA mortgage or agreement. How long do you plan on living there? Are you planning on having any children? You never know when your situation may change so make sure you plan ahead. Check And Re-Check:  Don’t let the thrill of becoming a first time home buyer give you itchy fi...

Outlook for Housing and Economy Remain Positive Despite Q1 GDP Contraction In its second of three estimates of real gross domestic product (GDP) growth for the first quarter released Friday , the U.S. Bureau of Economic Analysis ( BEA ) issued a downward revision of what analysts had already deemed "paltry" growth of 0.2 percent in the  advance estimate for Q1  reported at the end of April. According to the BEA's second estimate for Q1, which is based on more complete source data than were available for the advance estimate, the GDP contracted at an annual rate of minus 0.7 percent. Despite economic growth taking a step backward, the forecast for housing for the rest of the year remains positive, according to Fannie Mae SVP and chief economist Doug Duncan. New home sales increased by 6.8 percent in April up to 517,000 annualized units; the National Association of Realtors' Pending Home Sales Index has risen by 14 percent in the last 12 months; existing home s...

  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...