Honolulu Real Estate Views » For Sellers

Get It Right! Call It A Purchase Contract!

Keahi Pelayo — Wed, 23 Jun 2010 20:03:20 +0000

I’ve been in the real estate business since 1983 and for most of that time the contract in Hawaii was called a DROA, however, the name has changed and it is import for you to be sure that your contract uses the new name.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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.

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2010 Better Year To Sell Than 2011?

Keahi Pelayo — Mon, 07 Jun 2010 21:08:07 +0000

If you are considering selling a Honolulu home or condominium that you have owned for a longtime, then 2010 may be a better year for you to sell than 2011. Economist Arthur Laffer wrote an opinion piece in today’s Wall Journal Street Journal online that talks about the impact of not renewing the Bush tax cuts by the end of the year.

“On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush’s tax cuts expire on that date, meaning that the highest federal personal income tax rate will go 39.6% from 35%, the highest federal dividend tax rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax rate to 55% from zero. Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts.”

CLICK HERE TO READ THE ENTIRE WALL STREET JOURNAL ARTICLE

If Congress and the President don’t renew these cuts, you are looking at a minimum of a 33% increase in the capital gains tax! If the State of Hawaii increases the Hawaii capital gains tax, you could experience a huge tax hit on highly appreciated real estate. Here’s my point, given the relative strength of the Honolulu real estate market and the potential increase in capital gains taxes, it may take several years of additional market appreciation to net the same amount of money you could get by selling in 2010. Think about it.

SEARCH FOR YOUR HONOLULU HOME

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.

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Why Some Honolulu Homes Don’t Sell

Keahi Pelayo — Fri, 21 May 2010 18:57:31 +0000

Almost everyday, I see Honolulu homes and condos that were listed for sale come off the market because time has run out on the listing contract. In real estate jargon this is called an expired listing. One of the main reasons listings expire is because the listing was priced too high. In today’s video blog I focus on two other important reasons that contribute to homes not selling.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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

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Open Houses That Do Work-Contradiction?

Keahi Pelayo — Tue, 18 May 2010 15:51:07 +0000

Right when you thought it was safe to get back in the water, I contradict my last blog post regarding the lack of value in open houses. Believe it or not, there are open houses that are important to do when you are selling your Honolulu home or condominium. In Honolulu, the brokers open house is on a Wednesday or Thursday morning and, as the name states, it this is when you open your home to real estate brokers and agents. The reason this technique works so well is because it allows brokers that have a potential buyer for your type of property to determine if it is the right fit for their client. A focused and disciplined agent may be able to see 8 to 10 homes on a given morning, so agents will inspect homes that they believe may work for a given buyer. Thus, the brokers that do see your home are high quality leads and many times I see them at a by appointment showing with a client the week following the brokers open house. So, open houses do work, but not the ones that most people are used to.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

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

Open House Very Low Percentage Sales Tool

Keahi Pelayo — Mon, 17 May 2010 16:13:43 +0000

If you are selling your Honolulu condo or home, you may be wondering where public Sunday open houses fit into the marketing effort for your property. Call me controversial, but I don’t think you should pin much of your hopes for a sale on them. Most experienced brokers know that the odds are very, very low that the buyer for your home will come from this marketing technique.

Then why do some brokers continue to do open house after open house? Here’s the truth, open houses are great places to meet buyers, but not for your home though. Statistics show that 99% of the buyer that walk into an open house will not find your home to meet their needs. However, for brokers that do ongoing open houses, your home becomes a great place to find buyers that they can sell other houses. Good for them, bad for you. Here’s my advice, get your home priced right and make it very easy to show for by appointment showings to qualified, pre-screened candidates. Use your Sundays for resting and relaxing.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

Buying more might make your retirement better

Under New Rules-Lenders Even More Important

Sellers Beware Of Company Addenda

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Two Things That Don’t Matter In Pricing Your Honolulu Property

Keahi Pelayo — Fri, 14 May 2010 20:00:19 +0000

There are many things that impact the price at which you market your Honolulu house or condominium, but in today’s video blog I discuss two things that really don’t matter in your price selecting strategy. Sometimes I meet sellers that say “I paid this much money for my home so therefore let’s price it at this price”, or a seller will say, “I don’t care what has sold in my area, I want a price 25% higher than the other sales”. When this happens, in as kind of a manner as I can, I tell the seller that what you paid for your home or how much you want for it, has no impact on what it can be sold for. To understand my logic behind this assertion, watch my video blog.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

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

Are Realtors Paid Too Much?

Magic! Debt Becomes Income & YOU PAY TAXES!

Keahi Pelayo — Wed, 12 May 2010 19:53:37 +0000

If you are thinking about selling your Honolulu home or condo via a short sale, be sure to determine how much money your bank is forgiving. The Wall Street Journal has an interesting article the reports the following.

“Now, she’s bracing for the next blow: an Internal Revenue Service form detailing as much as $150,000 in debt canceled by the bank when it took control of the house. The canceled debt is a form of income, says the IRS—meaning she’ll owe taxes on it. “ CLICK HERE TO READ THE ENTIRE ARTICLE.

There aren’t any magic bullets to help you avoid this, but be sure you understand exactly how much you owe in taxes. In the example quoted above, the taxes on $150,000 of income at a rate of 35% are $52,500! If you find yourself considering a short sale, make a point to consult an accountant and attorney…before you commit to the sale.

SEARCH FOR YOUR HONOLULU HOME

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

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

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

Are Realtors Paid Too Much?

Get Ready For The Best Time Of The Year To Sell!

Keahi Pelayo — Thu, 06 May 2010 18:58:11 +0000

Like most areas, the Honolulu real estate market is cyclical and it is going into the best cycle of the year to sell. If you are thinking about selling your Honolulu house or condo, now (did I write NOW?) is the time to start signing the listing paperwork and taking care of the details to have your home showing its best. The Honolulu summer market begins in mid-May and runs through early August, so if you can have your home on the market in May, you will to take advantage of the best time of the year to sell. Here are a seven low cost things you can do to improve the looks of your living unit.

1. Touch up interior trim paint.

2. Touch up or paint the exterior.

3. Trim, edge and generally clean up you landscaping. If necessary, plant flowers on the path leading to your entry way.

4. Hire a professional cleaner to detail your home. I have seen car sellers spend small fortunes to get their auto detailed and, it’s funny to see, some sellers are reluctant to bring a professional cleaner in to “detail” one of their most valuable assets. Believe me it makes a huge difference

5. Hire a professional window cleaner to make each and every window sparkle. The windows in your home go both ways and the cleaner and clearer they are, the better you home shows.

6. Remove clutter. No matter how Spartan a life someone leads, there is almost always room to take things out of your home. You want to create the space for someone to see himself or herself moving into your home or condo. Removing some personal pictures, art, books and things will help this to happen.

7. Hire an impartial nose. Every one of us travels with our own unique set of odors, some pleasant and others not so. Bring someone in that will tell you the truth! If your home smells like fish, fido or fungus expect to get less money or have difficulty selling. Do everything you can to make your home have a fresh aroma.

If this is the summer you are going to up or down size, then take the time now to plan and take advantage of the coming market.

SEARCH FOR YOUR HONOLULU HOME

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

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

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

Hawaii Bankruptcies Up

Keahi Pelayo — Tue, 04 May 2010 20:57:29 +0000

The Honolulu Advertiser is reporting that Hawaii’s bankruptcies have risen.

“Bankruptcies have risen for three consecutive months as people continue to experience economic problems brought on by unemployment, fewer work hours and problem mortgages. The April number was 56 percent more than a year earlier.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE

I do some work with a few of the local bankruptcy trustees and they have been sending me more properties to evaluate. Even though the increase in filings looks negative, I believe it is part of the recovery process. People that are over extended can hang on for only so long and once they come to the conclusion that they can’t make it through to the good times, they either let their home go into foreclosure or file bankruptcy. Don’t despair, because toward the end of the article the author leaves us with some good news.

“Hawai’i’s bankruptcy filings per capita traditionally have been one of the lowest in the country but have been rising. Federal court numbers show Hawai’i’s rate last year was fifth lowest, at 2.41 cases per 1,000 population.”

SEARCH FOR YOUR HONOLULU HOME

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

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

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

Are Realtors Paid Too Much?

Honolulu Foreclosures Up & We’re Still Better Off

Keahi Pelayo — Mon, 03 May 2010 16:31:35 +0000

Pacific Business News is reporting that Honolulu’s foreclosure rate increased by 123% year on year! Nice headline, but read further and you will find that our foreclosure rate is in the bottom half of the 206 surveyed metro areas.

“There were foreclosure filings on 1,564 properties, or one in every 216 households, according to the latest survey by Irvine, Calif.-based RealtyTrac Inc. The number of foreclosures jumped 14.8 percent from the previous quarter.

Honolulu ranked No. 110 for its foreclosure rate in the survey of 206 metropolitan markets in the United States.

Nationally, foreclosure filings grew 16 percent year over year to 932,234, or one in every 138 households. Filings were up 7.2 percent from the fourth quarter of 2009.” CLICK HERE TO READ THE PACIFIC BUSINESS NEWS ARTICLE.

I would rather see the number of foreclosed properties at a much lower level, but my nose tells me we are better off than most places.

SEARCH FOR YOUR HONOLULU HOME

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

Keahi’s Resume

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

How To Make Disclosures

Buying more might make your retirement better

Sellers Beware Of Company Addenda

Are Realtors Paid Too Much?