Vacant Listings Can Be Vandal Magnets

A vacant home can easily become the target of thieves or vandals, and the damage they leave behind can be big and expensive.

Denise Supplee of SnapLandlord.com recalls an incident when she was helping a client sell a vacant home and the property was ransacked by thieves who wanted the copper tubing on the pipes.

“They ripped it all out and then there was water damage,” Supplee says. “And because no one really visited that home, the water damage became a mold issue. You know how we knew there was an issue? Because I paid the bills for this property, and I noticed a ridiculously high water bill.”

An alarm system and weekly checks of the property may be crucial to help avoid such disasters or break-ins.

"Owners of vacant homes have more affordable options today than they did 10 years ago, with the advent of smart-home security systems," says Brian Davis, a real estate expert and cofounder of SparkRental.com. "Smart cameras can be triggered by motion or sound detectors, and alert the owner. Smart-home security systems often now also detect air quality changes and other potential threats to property."

Installing timed lighting around a property at night can also help deter burglars.

Many aspects can make vacant homes be tempting targets for burglars, Davis says. “The copper in the pipes alone is valuable, and then [in luxury homes] there are the top-of-the-line appliances that many high-end homes boast. And those are just the fixtures that burglars can be reasonably certain are present. Who knows what other juicy targets of opportunity they’ll discover?

SOURCE: DAILY REAL ESTATE NEWS

Any questions or comments, feel free to contact James Y. Kuang at (626) 371-5662 or by email: james.kuang@coldwellbanker.com      

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Will Tax Changes Benefit Homeowners and Investors?

As the White House shifts its focus to tax reform, analysts are examining who will benefit from the proposal announced Wednesday afternoon. The New York Times reported yesterday that this week’s stock market surge could be attributed to President Donald Trump’s call to cut the corporate tax rate to 15 percent, from 35 percent. However, the article goes on to note that optimism on Wall Street doesn’t always translate to growth on Main Street.

“We have to distinguish between pro-profit and pro-growth policies,” Diane Swonk, an independent economist in Chicago, told The New York Times. “A pro-profit approach increases the share of the pie going to corporate earnings and shareholders. Pro-growth policies increase the size of the pie.”

Treasury Secretary Steven Mnuchin told reporters today the plan will eliminate all personal tax deductions other than the mortgage interest deduction and those that encourage charitable giving. However, by increasing the standard deduction the plan will effectively nullify the benefits of the MID for the vast majority of filers, something strongly opposed by the National Association of REALTORS®.

That’s why NAR will be following the progress of tax reform as it becomes more concrete in the hands of Congress, with a specific concentration on how it may impact homeowners, property investors, and real estate practitioners. “REALTORS® support tax reform, and it’s encouraging to see leaders in Washington doing their part to get there,” says NAR President William E. Brown, adding that “as with all things, the devil is in the details.”

While the association appreciates the benefits American taxpayers could reap under sound reform and a simpler tax code, Brown says anything that includes damage to the economic benefits of housing and real estate investment is a nonstarter. He notes that while housing accounts for more than 16 percent of the gross domestic product and more than $3 trillion in investment, American homeowners already pay between 80 and 90 percent of U.S. federal income taxes. Brown added that the MID and state and local tax deductions make homeownership more affordable, while 1031 like-kind exchanges help investors keep inventory on the market and money flowing to local communities.

“Those tax incentives are at risk in the tax plan released today. Current homeowners could very well see their home’s value plummet and their equity evaporate, while prospective home buyers will see that dream pushed further out of reach," Brown says. "While we appreciate the administration’s stated commitment to protecting homeownership, this plan does anything but.”

SOURCE: DAILY REAL ESTATE NEWS

Any questions or comments, feel free to contact James Y. Kuang at (626) 371-5662 or by email: james.kuang@coldwellbanker.com      

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Limited Time VIP Buyer Bonuses:

BONUS#1: One year home warranty policy ($497 value)

BONUS#2: Lifetime notary service (in office)

BONUS#3: Financial Impact Analysis

www.EasyHomeResource.com

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