Archive for April, 2010
Don’t Get Caught Off Guard By HARPTA!
April 21st, 2010 categories: For Sellers, Video For Sellers
For non-resident owners of Honolulu homes and condos, if you are not aware there could be a surprise lurking around the corner when you sell your property. HARPTA is a law that requires the withholding of 5% of the sales price for sellers that are not residents of Hawaii. If you have a profit on the sale of your real estate, I am not aware of a way to avoid the withholding (talk to your accountant), but what do you do if you have a loss? In today’s video blog, I discuss the process of applying for an exemption from the 5% withholding.
http://www.vimeo.com/11094175CLICK HERE FOR THE EXEMPTION APPLICATION
CLICK HERE FOR MORE INFORMATION ON HARPTA
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: No Comments »
Sellers: To Repair Or Not?
April 20th, 2010 categories: For Sellers, Video For Sellers
Under Hawaii Law, in the sale of a house or condominium a seller is required to provide a buyer a Seller’s Real Property Disclosure Statement (SRPDS). Many times the SRPDS will show items that may be broken or not work properly. In today’s video blog, I discuss whether or not a seller should expect to repair these issues as part of the sale.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: 1 Comment »
Is Number One, Really Number One?
April 19th, 2010 categories: For Buyers, For Sellers, Video For Buyers, Video For Sellers
Even though I sell real estate in Honolulu, no matter where I am (Oahu included), it always seems that there is more than one agent that claims to be the “number 1” agent or top producer in a given market. So how can this be? If you could identify the top Realtor in your area of interest should you work with them? In today’s video blog, I discuss how it is that more than one real estate agent can claim to be number one in a market and how every Realtor making the assertion could be technically correct. I finish by sharing a few simple guidelines that will help you pick the agent that is going to work out best for you.
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If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: No Comments »
Spike In Honolulu Home Prices Coming?
April 16th, 2010 categories: For Buyers, For Sellers
Honolulu real estate is not complicated; in fact, it goes back to economics 101 (remember supply and demand?)! Anyway, in my opinion, the 2009 slowing in core Honolulu real estate sales had more to do with fear than too many homes for sale. Add to this the lack of new construction and tight commercial financing and there may be short to mid-term pressure on existing home and condo prices. A recent article in the Honolulu Advertiser confirms this.
“Hawai’i home sales volume has been rising for nearly a year, but the pipeline to produce new homes is at a more than 30-year low, leading a local economist to warn that a price spike could be in the making.”
“Around 4,000 new homes are needed to satisfy household formation, the local economist said, adding that if home construction doesn’t pick up it could lead to a short supply that drives another spike in prices.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
Here is the question, how can you take advantage of this potential upward pressure on values? For buyer’s, buy now and lock-in low interest rates and values. For sellers, if you can wait, waiting to sell for the next 3 to 5 years may position you to take advantage of a spike in values.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: No Comments »
Betting On Lower Foreclosures For Honolulu
April 16th, 2010 categories: For Buyers, For Sellers, The Market
Pacific Business News is reporting an increase in the number of foreclosures in Hawaii.
“That was 111 percent higher than the first quarter of 2009, but just 1.42 percent higher than the fourth quarter of 2009.
Nationally, there were foreclosure filings reported on 932,234 properties in the first quarter, or one in every 138 housing units, 16 percent higher than the first quarter of 2009 and 7 percent higher than the previous quarter, RealtyTrac said.” CLICK HERE TO READ THE ENTIRE PBN ARTICLE
Before you launch your life boat, when the numbers are looked at more closely, Hawaii is underperforming the national market (this is good). Note that Hawaii’s rate of foreclosure increased by 1.42% as compared to the last quarter and the national increase was 7% higher! I wish the report would have broken out the foreclosure rates on an island by island, as I would wager that the Honolulu real estate market has experienced a decrease in filings. As soon as I find the evidence, I will post the answer. Let’s hope I don’t lose.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: No Comments »
Short Sale Letters
April 15th, 2010 categories: For Sellers, Mortgages & Financing
Over the last few years I have seen an increase in the number of people having difficulties making their monthly mortgage payment on their Honolulu condo or house. Though it is not a good situation once it becomes clear that something needs to be done most people begin by investigating refinancing and/or mortgage modification. If satisfaction cannot be found through these two avenues, then the more drastic steps of a short sale, deed-in-lieu of foreclosure or an actual foreclosure become the remaining options. Part of the short sale process is to write a letter explaining your situation and whey the lender should consider granting the short sale. Rather than reinventing the wheel, I found an excellent series of letters at Blog The Rockies, a Boulder Colorado real estate blog.
“To Whom It May Concern:
This letter is a explanation of our financial hardship for short sale documentation. At the time I bought a home, my wife and I were full time employees of long standing companies. Upon the harsh economic times, lay offs were inevitable and my wife and I both found ourselves laid off. Not to mention, a baby on the way. We were unprepared for this unknown fate and as a result, have not been able to make our mortgage payments.
The current market conditions resulted in an under appraised home. We have both been laid off for almost a year, thus depleting our savings. Although our efforts to find new jobs has been a full time job in itself, no jobs have become available in this area. I finally received a job offer in another state, but the pay is much less and my wife is staying home with our new baby.
I feel certain that a short sale is the best option for us to get out of this situation and hopefully move forward with our lives.
Thank you in advance for allowing us this opportunity to short sale on our home.
Please do not hesitate to contact me and our Realtor who is assisting us in this entire transaction.”
CLICK HERE TO READ THE ENTIRE BLOG.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: No Comments »
Maui Home Sales Good Sign For Honolulu Real Estate
April 14th, 2010 categories: For Buyers, For Sellers, The Market
The Honolulu Advertiser is reporting strong house and condominium sales for the island of Maui.
“Home sales on Maui last month rose strongly, though median prices were mixed, according to the Realtors Association of Maui.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE.
Why should people interested in Honolulu real estate care about what happens on Maui? Read the rest of this entry »
| Discussion: 1 Comment »
Vintage Manoa Beauty
April 13th, 2010 categories: Neighborhoods, Rants & Riffs
Just when I thought I was finished finding cool vintage homes in Manoa, this past Saturday, I stumbled on this excellent vintage example on a Kuahine Street. Everything about it worked for me and I hope it works for you too.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: 1 Comment »
Spy Vs. Spy? Broker Vs. Agent?
April 13th, 2010 categories: For Buyers, For Sellers, Video For Buyers, Video For Sellers
In Honolulu, what is the difference between a real estate broker (I am one) and a real estate agent? Both can help you buy or sell a home, and theoretically, one has more experience. Check it out.
| Discussion: 1 Comment »
In Hawaii, Your Agent’s Job Is To Protect You!
April 12th, 2010 categories: For Buyers, For Sellers, Video For Buyers, Video For Sellers
In today’s video blog, I discuss the nature of fiduciary duty and how it SHOULD by applied by real estate agent’s and brokers in Hawaii. Good Realtors are aware of this and should go out of their way to protect your interests. As I understand, it is not an option…it’s the law!
| Discussion: 1 Comment »
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