Team Thayer Property Servicing

If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market. Jonathan Smoke, the chief economist of realtor.com, in a  recent article  revealed: “Our preliminary review of April activity on realtor.com shows that traffic, searches, and listing views are up more than 35% over last year. With 3 million jobs created and close to 1.5 million new households formed in the past 12 months, many more people want a new home of their own, and they want it bad. Their patience will be tested with tight supply—indeed, the No. 1 impediment of active shoppers in April was not being able to find a home that meets their needs.” In this type of market, a...

Non-foreclosure solutions continued to outpace completed foreclosures by a rate of approximately five to one in April while serious delinquencies continued their steady decline, according to  data released on Wednesday  by  HOPE NOW , an industry-created private sector alliance of mortgage servicers, investors, counselors, and other mortgage market participants. The number of non-foreclosure solutions, which include loan modifications, short sales, deeds-in-lieu of foreclosure, or other workout plans) completed by the industry totaled 153,000 for April, compared to 32,000 completed foreclosure sales during the month, according to HOPE NOW. April's total of non-foreclosure solutions represented a slight increase over the monthly average for the first quarter (148,000). April's total of foreclosure sales was unchanged from the Q1 three-month average of 32,000. "HOPE NOW continues to see declines in overall serious delinquencies each month," HOPE NOW executive d...

If you receive rental income from the rental of residential homes, specified rental expenses may be deducted on the owner’s tax return. Such costs may include interest on the property loan, owner’s property tax, operating costs, home value depreciation, and repairs.  Deductions may include the average and requires expenses for operating, protecting and maintaining your rental real estate investment. Ordinary expenses are those that are typically included in the business of managing rental homes.  Necessary expenses on rental homes are those that are deemed appropriate, such as: * interest on home loan * advertising costs to rent the home * homeowners taxes * property maintenance * household utilities  * home insurance. A detailed log covering the cost of home repairs on the rental property may include: staining wood, painting, fixing plumbing leaks and replacing damaged doors, windows or other home features of the rental property. “You can deduct the expense...

Basics of Home Inspections Home inspections are a very important part of both the home buying and selling process. It is always a good idea to hire a Home Inspector to properly inspect a house. Home Inspectors are professionals who are trained to have a keen eye for catching things that a normal homeowner (or potential homebuyer) may not notice. Here are some of the things that a professional inspector might check for: Asbestos and lead paint Hidden damage (termites, support structure, etc.) Foundation damage Mold Roofing issues Chimney hazards Pests (rodents and/or insects) Radon, carbon monoxide, and/or other hazardous gasses or elements Efficiency of appliances Although a home inspection costs extra money and may not be the most exhilarating experience, it is necessary when buying a home. It is in your best interest (and for your own safety) to have a professional look over the home before you purchase it. Even if a house looks to be move-in ready, there cou...

Being a landlord is not as simple as it appears. You should understand the responsibilities and repercussions before foraying in this segment. Here are quick tips that will help you avoid adverse situations and be a successful landlord. Screen tenants Be smart, strategic but not too swift when screening tenants and checking their credit rating and references Be professional with a personal touch Tenants appreciate staying in direct touch with the landlord; so always provide for a direct hot line to them Plan your moves logically Stay abreast of the local eviction rules so that you can invoke them at the strategic moment Stress on tenant care Online managing agents should be enquired about tenant care level; else you may have to suffer from double financial setback once the tenant leaves i.e. paying agents for getting new tenants and losing income meanwhile Prepare for the unforeseen Unexpected expenses can crop up; get ready to deal with them by maintaining a re...