Team Thayer Property Servicing

REO sales are down by 80 percent from their peak six years ago, but there are still plenty of affordable buying opportunities for homebuyers, according to a commentary  by Chris Bowden,  Freddie Mac 's SVP of HomeSteps , the GSE's real estate sales unit. About 6 percent of all residential home sales in June 2015 were REO sales, compared with their January 2009 peak of 27.6 percent, according to the latest data from  CoreLogic , a decline of about 80 percent. Today's low mortgage rates, which are hovering around 4 percent, provide more opportunities for investors and other buyers seeking an affordable home option. Bowden reminds potential buyers that while buying an REO property is very similar to buying any other house, there are four tips to remember: Find a reputable agent . It will be helpful to find a reputable agent who works actively in the neighborhoods where you are looking to buy a home. Though banks will negotiate, they often employ local pricing strateg...

Team Thayer Real Estate News Foreclosure inventory is back down to pre-recession levels, according to reports this month from CoreLogic  and  Black Knight Financial Services , and a major driver of the steady decline of residential homes in foreclosure is the steady foreclosure outflow. Black Knight found 739,000 homes in pre-sale foreclosure inventory for June (about 1.46 percent of mortgages), while fore CoreLogic the numbers were lower (472,000 homes, about 1.2 percent of mortgages). But both have been steadily on the decline – for CoreLogic, the 1.2 percent foreclosure inventory rate (a decline of 29 percent from the previous June) is the lowest level since January 2008. The estimated total of 1.46 percent foreclosure inventory by Black Knight in June was a 22.6 percent decline year-over-year; while this was the lowest year-over-year decline in foreclosure inventory reported for one month since early 2013, the number of loans in foreclosure still declined by 21...

Sales of distressed properties in April 2015 hit their lowest point since April 2007, according to a  report released Thursday by  CoreLogic . According to CoreLogic, distressed sales comprised 11 percent of home sales nationally in April. This is down 3 percentage points from last April and 1.5 percentage points from March. It is also far below the January 2009 peak in which distressed sales accounted for a third of U.S. home sales. Pre-crisis, distressed sales usually hovered around 2 percent, the report stated. CoreLogic expects the numbers to return to this mark by mid-2017, a claim bolstered by the ongoing shift away from REO sales. REO sales made up 7.4 percent of total distressed sales in April, while short sales made up 3.7 percent. This shift, CoreLogic wrote, is a driver of improving home prices. The national numbers, however, are quite a bit lower than those in the five states with the heftiest shares of distressed sales. In Michigan and Florida, 21.7 perc...

 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...

New Bank Foreclosure to be listed tomorrow. 902 S 59th Springfield Or. Huge 4 bed 2 bath manufactured on land with a full studio apartment over a large shop. Only $114k!!! Call Justin Thayer @ 541-543-7287 Find out more information about buying foreclosure properties. Click the TeamThayer.com link below. www.teamthayer.com

Foreclosure starts rose for the first time in eight months....  in May, but there is still reason to be optimistic about the United States housing market, according to the latest Mortgage Monitor Report of the latest available data released by Black Knight Financial Services. The report indicated that foreclosure starts nationwide rose by 9.5 percent. The rise in May reverses the eight month trend of continuing decline in starts. However, the outlook for the housing market is still trending upward compared to years past and Black Knight cautioned against reading too much into the backwards step. "While foreclosure starts did rise over 9 percent in May, it's important to remember the historical trend is still one of improvement," said Kostya Gradushy, Black Knight's manager of Loan Data and Customer Analytics. "On a year-over-year basis, January through May foreclosure starts were still down 32 percent, and we are still looking at the lowest level of foreclo...

Rising home prices propelled 3.5 million U.S. properties out of negative equity in one year, but the number of underwater mortgages will shrink at a slower pace in the future as price appreciation cools, according to data released today by CoreLogic and Trulia. Approximately 6.3 million properties, or 12.7 percent of all U.S. mortgaged properties, were underwater in the first quarter of 2014, according to CoreLogic. That’s down from 6.6 million homes, or 13.4 percent of all U.S. mortgaged properties, in the fourth quarter of 2013, and 9.8 million homes, or 20.2 percent of all mortgaged properties, from a year before. The rapid price appreciation that has lifted so many homeowners out from underwater has slowed recently.  Asking prices were up 8 percent in May from a year ago , the smallest bump in 13 months but still far above the historical norm, according to the latest Trulia Price Monitor. The home-price slowdown has tempered gains in “hyper-rebounding markets,” like Las...

Real estate has so many surprises for the first time investor it is difficult to describe them all in one article although I will attempt to give some insight into a different investment opportunity today. There are in real estate what is known as real estate owned REO lists and these can provide a investor with absolutely amazing opportunities and the returns from these type of investments can be very lucrative. Just be very aware of fraudulent schemes where people offer you deals which does not exist. There are many companies who claim to sell reo lists online, but a large portion of the properties on these lists either do not exist or are in terrible shape and therefore do your homework carefully before committing yourself. Do all in your power to gain as much information as possible about the company with whom you plan to do business and find out what experiences others in the business had with these companies. Although these references may not be completely foolproof at least ...

There are many reasons why a home is not selling. Some reasons carry more weight than others. Here are 7 common reasons why your home isn't selling. Who is your Sales professional?   Every real estate market has hundreds or even thousands of real estate agents in their respective board. Just like “no two people are alike,” “no two real estate agents are alike!” Every real estate agent has different ways of communicating, how responsive they are, how they negotiate, their energy level, and many other characteristics that differentiate one agent from another. Selecting the “right” real estate agent to sell your home is a vital part of whether a home will sell. Both their budget as well as mastery of  negotiation & marketing makes such a huge difference.  What is the Marketing  Plan?  According to the National Association of Realtor's, 92% of home buyers use the internet for their home search. Is it important to have a real estate agent who is...

Say happy work anniversary! Justin Thayer 10 years this April Key Realty Group, LLC Like ( 1 ) Say congrats ( 8 ) 3d ago   Doug Hall   Congrats Justin!!! 3d ago Ron Nix   Congratulations! 2d ago Larry Go Ducks Newby   Congrats! 2d ago Mike Grudzien, MS (1,500+)   Congrats! 2d ago Becky Shiffer   Congratulations! 2d ago Cynthia Howard   Justin: Congrat's on being at Key Realty Group! We at Key Realty Group are so happy to have you here. Your expertise in REO's is invaluable! 2d ago Bob Barnard   Congrats! 2d ago Luke Rabun   Congratulations, Justin! Remember Oregon Home Inspections when you need your next home inspected. www.orhomeinspections.com 2d ago LOOKING FOR A NEW HOME? Click ON THIS LINK:   www.teamtahyer.com