Team Thayer Property Servicing

The Politics of Real Estate!  Sales secrets from Justin Thayer #Eugene #Oregon #ReallEstateBroker.

Before deciding on a price to list your home, let's debunk a few myths:   Myth:  ouY should always ask more than market value to leave room for negotiations. Courtesy of Top Producer The fact is, neither you or the buyer determine the selling price of your home. The market determines that. If you overprice, and you're fortunate enough to even get someone to consider your home for purchase, they and their agent will likely come back and offer a price based on fair market value plus or minus any special adjustments.  The idea from the start is not to scare potential buyers away by having a house priced above what the market says is fair. Myth : Pricing high will help bring in more well-qualified, affluent buyers. Courtesy of Top Producer On the contrary, it is financial nonsense to pay more than fair market value for anything. Even if the buyer is paying cash, wise buyers will always have a formal appraisal to determine the actual market value. ...

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? Can buyers qualify for a mortgage?  These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are five of those reasons. 1. The Most Serious Buyers Are Out Now Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. These buyers are  ready ,  willing  and  able  to buy…and are in the market right now! 2. There Is Less Competition Now Housing supply always grows from the spring through the early summer. The choices buyers have will continue to increase over the next few months. Don’t wait until all the other potential sellers in your market put their homes up for sale. 3. The Process Will Be Quicker One of ...

WASHINGTON -- Entering the 2014 spring buying season, the U.S. housing market faces an unusual dilemma: Too few people are selling homes. Yet too few buyers can afford the homes that are for sale. "Both sides of the equation are in a funk," said Glenn Kelman, CEO of the real estate brokerage Redfin. A 13.4 percent jump in the average price of a home sold last year, according to the Standard & Poor's/Case-Shiller 20-city index, hasn't managed to coax more homeowners to sell. And combined with higher mortgage rates, higher prices have made homes costlier for first-time buyers as well as for all-cash investors. In this Thursday, Jan. 9, 2014, photo, a for sale sign hangs in front of a house in Mount Lebanon, Pa. (Gene J. Puskar/AP Photo) Average prices nationally are expected to rise by single digits this year. The gains could be strongest in areas with solid job growth, such as Seattle and Austin, Texas. And while construction will put more homes on t...

For current information and Real Estate Listings click the link below: www.teamthayer.com

Many people believe  that house staging is a long, complicated process and can only be understood by professionals. This isn't true. You already have most of the knowledge and skills that you need. Though your main focus is selling the home, you also understand the buyer’s perspective. You've been there before so trust your instincts. Try to remember what you were looking for as a buyer. You bought your house. Why? What was it about the house that you live in that stuck out to you? Don’t underestimate your knowledge. You know your house better than anyone else. When getting ready for a buyer, simply learn to accentuate the positives of your home. Think big picture but don’t forget about the little details. Every little detail of your home should reflect the value of your home. Exterior The first impression  is the only impression. Even before prospective buyers enter your home, they will already make judgement on your house. Based on this philosophy, the exterior of the ...

Consumers are often swept along by the intricate advertising campaigns of banks and other lending institutions that are busy to promote the next big thing in home financing. And these campaigns always project the bank as this institution that always have the interests of the public foremost in their hearts and how they are always trying to look out for the best interest of their clients. That is their story! The truth is these financial institutions are in business primarily for themselves. When they sit in their fancy shareholder meetings, they do not discuss customer care programs. No sir, they are talking hard cash, profits, and how much their shares have grown. This knowledge should be no surprise; you would have done the same thing if it were your business. Why then are we so easily sucked in by their cleverly orchestrated promotion campaigns that so cleverly convey how very good the banks are for us and all the effort they put in to accommodate the public that they serve. ...

It's just human nature to simply want to  understand  things, especially important things (such as  your home mortgage ), so in this post we're going to explain what generally happens after you buy or refinance a home and why your loan may be "sold". First of all, the vast majority of  mortgage lenders  will only fund loans that either "conform" to Fannie Mae or Freddie Mac underwriting guidelines (these are called conventional conforming loans), OR meet the minimum standards set forth by FHA, VA, or USDA (these loans are backed by the government with "insurance" or a limited "guarantee" against default). By only funding these  types of loans , rest assured the mortgage lender can turn around and sell the loan to Fannie Mae, Freddie Mac, or Ginnie Mae (Ginnie Mae typically buys government loans).  But what does it mean to "sell" a loan? First, we must must take a step back and think about what a mortgage loan actually i...

If you have been served with a summons and complaint for foreclosure then you are in the Judicial Foreclosure Process.  It is possible to know exactly how the process is progressing along.  You should be served with notices etc. but what if you don't know what these notices indicate.  What if you get a notice showing that the bank filed a "motion for continuance"  That may not tell you anything but it tells us a lot.  Everything that has happened in your case is also entered on your case register on the Oregon Judicial Information Network (OJIN).  An attorney can review your case register and explain to you what is happening in your case, what the major landmarks are, and where you are at in the process.  I will explain the basics below but I encourage you to contact us for a free copy of your case register.  We would be happy to explain it to you and hopefully give you some peace of mind.  We also provide case registers to real estate profe...

Oregon saw an increase of about 25 percent in foreclosures in January 2014 compared to January 2013.  In Lane County, 43 households received some sort of foreclosure notice last month, with about half of these being bank repossessions, according to RealtyTrac. State legislation passed in August 2013 temporarily decreased foreclosures by limiting lenders ability to file foreclosures until they and the borrower went through a legislated mediation process. That mediation process was expected to take about 60 days, but in reality is taking six months or more. Many of those properties will still end up in foreclosure, once the mediation process is completed. This is purposed to bring  filings to increase to early 2013 levels. The market went through a buyer surge as many  who had waited to purchase until they felt safe. This happened in mid Jan 2013 and pe aked in mid Aug. After any market  surge there will always be a decline.  This decline was    in...

Oregon with it's  second-tier cities should lead the west coast recovery this year Investors, developers and builders are losing some interest in the so-called 24-hour gateway cities -- San Francisco and, Seattle  -- and have developed more interested in cities like, Portland, &  Eugene,  where there are more housing deals to be had. Example:  2011 only New York City and Washington, D.C. had good prospects for real estate investors and developers, according to the ULI report, but now Austin, Boston, Dallas, Houston, Miami, Orange County, Portland, San Francisco, San Jose and Seattle make that list -- and D.C. actually dropped out. Now narrow this field down to the west coast and Oregon appears to lead the way in potential for 2014 housing deals Real estate recovery stilTl hinges on job growth The     slow pace of job growth as well as income and wage growth is still holding back the real estate recovery and that's not likely to ch...

If your house is sold at auction or is transferred to the lender and the amount for which it was sold or transferred is not enough to cover the balance of your loan, the financial institution, with certain exceptions, may have to cancel or forgive the balance between the fair market value of the house and the amount you owe. This balance or deficit is also known as "cancellation of debt." The institution will file the applicable IRS forms with the amounts owed and other relevant information. You will receive a copy of the applicable 1099 forms in reference to the amount "forgiven." With certain exceptions, you may have to include this amount as part of your income when you file your income taxes. Talk to a tax adviser about the potential impact on your tax filings.     The "Mortgage Forgiveness Debt Relief Act," which amemded the Internal Revenue Code, provides with additional exclusions for some homeowners who lost their homes, if occupied as their prima...