Own a Home Pay Less Taxes

It's that time of year again, and most of us are diligently trying to come up with as many legal deductions as we can so that we owe less to Uncle Sam and can keep more in our own pockets.

The mortgage Interest deduction continues to be the "number one" largest deduction that a homeowner can enjoy and is happily reminded of at this time of year. Still in place, this deduction can be applied against thousands of dollars of income and you get to enjoy the benefit of owning your own home instead of forking over the money to Uncle Sam each year.

If you are still renting, you are paying your landlord's mortgage so why not consider putting this opportunity to work for you instead. This is often easier than you think and yes, the banks are making loans, contrary to what you may have heard!

Amazingly, some are waiting for property prices to fall even further and are so focused on getting the lowest price, that they are missing out on a great opportunity now. Today is the best day to buy, not tomorrow or next year. Home prices have not been this low for over 10 years! Interest rates are unbelievably low. This period is called OPPORTUNITY and is a period that is allowing many to enter the door of homeownership that were shut out before because prices were so far out of their reach. Haven't we always been taught that when opportunity knocks, open the door?

Don't be fooled into thinking that this current housing situation will last forever. If you look at the historical graphs of the increases and decreases of home values, you will see that we are right on course. A lot of what we hear on the news, including the internet, is either incomplete or inaccurate.

Owning your own home is still the American dream and over 80% of Americans still feel that way. My advice to you is to never give up on your dreams and find out today if you are in a position to buy a home. If you aren't quite ready now, a good Realtor or mortgage lender can evaluate your current situation and put you on track to possibly buy a home by this time next year!

Talk to your tax advisor and ask them how homeownership will save you money. Since I am not a tax professional, I cannot give you tax advice, but as a Realtor for over 30 years and a homeowner myself, I can confidently assure you that this is something that you should get proactive on right now!

Nancy Puder is the owner and broker of Signature Properties, a prestigious real estate sales and property management firm in Arroyo Grande, CA. You may reach her at 805.710.2415 or email Nancy@NancyPuder.com. Website: http://www.signatureproperties1.com/. We always enjoy hearing from you!

Looking out for Landlords

Looking out for Landlords

Whether you are a new landlord or have held this title for a long time, there are some important tips that can help make the management of your properties simple and profitable.

The number one thing that seasoned landlords understand is that time is money. For instance, if the value on your rental unit is $1500 per month, that means that every single day it sits vacant, it is costing you $50 per day.

Now close your eyes and imagine yourself putting $50 cash into an envelope each day there is no occupant in your rental and then when it finally does rent, take all of those $50 bills and put them in the shredder. Sounds radical? Does 3 weeks not sound like a lot of time? Your thinking may change if you were going down to the bank and withdrawing $1000 in cash and then throwing it away!

The point is that if you are going to be a landlord, think smart. Once you know that you are going to have a vacancy, immediately begin your marketing plan to obtain a new tenant. I highly recommend that you visit the property the same week that you get the notice, so that you can determine any work that may need to be done prior to the next tenant moving in. This is also a good opportunity to make your tenant aware of damaged items that they will be charged for if not corrected prior to their move.

Schedule the work in advance beginning the day after the property is vacated. I cannot express this strongly enough. Allow the minimal amount of time possible to complete the work and move your new tenant in as quickly as possible. Don't forget to do a very thorough walkthrough, take pictures and give your tenants copies of the pictures along with the signed inspection. A word of caution..Do not give the keys to the tenant until you have completed this process!

Now, since I know that you have written an excellent rental contract after conducting a thorough background and credit check on your tenant, be sure to enforce timely rental payments and make any necessary repairs that come up immediately. Since you have found a great tenant, treat them well as long as they are holding up their end of the agreement. A great tenant will typically appreciate you and the property and you will often keep them for a long time and enjoy uninterrupted income.

For more information on how to choose a good tenant, tips on how to choose a great property manager, rules regarding security deposits and other matters concerning landlord issues, go to http:http://signatureproperties1.com/ or you can email Nancy@NancyPuder.com or call (805)710-2415. We always enjoy hearing from you!

Nancy Puder is the owner and broker of Signature Properties, a prestigious real estate sales and property management firm in Arroyo Grande, CA

What Should I Expect From My Realtor?

What Should I Expect From My Realtor?

Q. We recently decided to start looking for a home and began calling on a few properties for sale. As a result, we have one agent who is sending properties by email. The problem is whenever we want to see one of the properties, he is always busy with his kids. He also says that we need to go get pre-qualified, but we don't know where to go. He is a nice guy but we feel like we are stuck.

A. You are right to question this agent's ability or level of desire to represent you well in the biggest purchase you have ever made. There are lots of agents out there, but not as many who operate professionally and as a business. Sadly, the general public is often unaware of this and end up in a situation like yours and do nothing about it.

It is very important to feel good about your relationship with your agent and to know that your aget has your best interests in mind. While no one should be expected to work on demand, a professional agent will have a backup system and other agents in place to accomodate their client 's schedule on those occasions when they are not available. A good agent will also personally introduce you to one or two reputable lenders in the area and will help walk you through the process.

You should feel free to look around for another agent who is as excited about you buying a home as you are. I recommend that you look for an agent who is experienced and who has a good track record of selling homes even duing the past couple of years. A good agent will not tell you that their performance is based on the market because a good professional agent should be able to naviagate through any market, adjusting their game plan so that they continue to sell homes and serve their clients. If your agent is telling you that they haven't sold much because of the market, that is a sign that they may not have the skills necessary to give you the representation you need.

Once you find an agent that you feel comfortable with, stop speaking to other agents. A great agent will give you what you need to have a successful experience but you should return the trust by only working with them from that point forward.

Nancy Puder is the owner and broker of Signature Properties, a prestigious real estate sales and property management firm in Arroyo Grande, CA. You may contact her at (805)710-2415 or email Nancy@NancyPuder.com http://www.signatureproperties1.com/. Your calls are always welcome!