Team Thayer Property Servicing

Mortgage Rates At All-Time Lows 2015 is another great year for housing in America. Home sales are on the rise, home supply is diminishing, and prices are skyrocketing in most places. To top it all off, mortgage rates are dropping like stones. What’s a person to do in a red-hot market like this? Aside from buying a home, you can start flipping like those guys on TV! 30-year mortgage rates are below 4% nationwide, their lowest levels of all-time. Many lenders now quote rates and APR in the 3s; with rates for  FHA  and  VA loans  beating rates for conventional loans. Lower mortgage rates mean lower monthly payments. Unfortunately, many  first-time homebuyers  are still under the impression that they must start out by putting 20% down. This simply is not true. Most mortgage programs today require little or no money down. No Need To Put Down 20% Buyers in today don’t need 20 percent down. Many believe they do. The reason buyers beli...

The average gross profit on a flip, however, soared to $72,450, up from $61,684 in the first quarter of 2014. That is the highest profit since this survey started in the beginning of 2011, and is attributable to tight supply in the housing market, which is pushing prices higher faster. "The strong returns for home flippers in the first quarter demonstrates that there is still a need in this recovering real estate market for move-in ready homes rehabbed to more modern tastes, particularly given the dearth of new homes being built," said Daren Blomquist, vice president at RealtyTrac. Flips are now giving investors an average gross return of 35 percent, but with prices higher, investors are discovering it's increasingly difficult to find properties that will make good flips. Certain markets are offering much better odds. "Markets with the combination of distressed inventory, affordability and demand that are yielding the best flipping returns include places su...