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A recent KOMO article sent a warning about scammers posting bogus rental listings on reputable websites. Of course, victims can lose thousands of dollars – “criminals try to get your money quickly and get away before you realize there isn’t any property behind it,” says Bridget Small with the Federal Trade Commission.

A home I listed for sale last week became a target for scammers. A friend notified me that she had come across the home on a Facebook Market ad that advertised the home for rent for $500. When she reached out to the “landlord” he made up a story about being out of town, taking the home off the market (“ignore the for sale sign in front”, he said) and not being able to actually show her the property. She shared the scammers email with me and I sent off a note to him as well and received a similar story. I asked him for his phone number, no response. I’m left wondering how far along you have to get in his process before he asks for an actual exchange of money but you know that will be a wire transfer to an account that will have a temporary existence and can’t be traced. I did report the “scam” to Facebook and made sure that those who attended the open house over the weekend were buyers not renters (being scammed).

Bottom line: If you see something advertised that’s to good to be true, it is!

S. G. St. Rental Available – $2500/month
(**this is not a scam )

2 bedrooms each with their own bath, master includes a gas fireplace. Main level living – open concept kitchen, dining, and living room (2^nd gas fireplace). Bonus space in lower level. Secure 2-car attached garage. Great locale – just a couple blocks from downtown and commuting. Contact me for additional photos and info.

Gather Juice Co.

Just finished a 3-day juice cleanse – and yes, I enjoyed it. I’m super impressed with this place and the variety that they offer – stop in and enjoy some health. Those of you who have watched “Game Changes” on Netflix – this can be your new “treat” stop. www.gatherjuice.com

3 Things to Consider Before You Buy a Second Home…

Buying a second home is a great way to lock in a great vacation spot and earn some extra rental income. However, there are also some financial realities that many homeowners aren’t aware of before they purchase their second home.

IRS Limitations
If you rent your second home more than fourteen days a year, the IRS qualifies that home as a rental/investment property. As such, the income you gain from your home is taxable. Your second home also won’t qualify for the same deductions as your primary home.

Risk & Liability
It’s easy to overlook problems like leaks and water damage in a home that goes unoccupied for long periods of time. Empty homes are also more likely targets for vandalism. Hiring a property management company to keep an eye on the home can help ensure you catch potential problems before they get out of hand.

Other Expenses
Expenses such as home insurance, security monitoring fees, and running utilities can add up in your second home. On top of these costs, you have annual maintenance costs and repairs that will inevitably pop up over the years.

Understanding the expenses involved with owning a second home is an important part of purchasing your next home! That way, you can make a plan. Vacation rental services like Airbnb make it easy to cover the costs of owning a second home or even profiting from it. You can also use remote monitoring technology, such as video doorbells, access control systems, and environmental monitoring to minimize the risk of missing important developments while away from your home.

Buying a second home is a great investment, but one that you need to be well informed about before you commit yourself. For more information about buying a second home or an investment property, give me a call!