Saturday, June 8th, 2013 at 10:17am. 21 Views, 0 Comments.
Here are some tax tidbits as of June, 2013.
- Estate and Gift Tax exemptions increase to $5,250,000 this year.
- The annual gift tax exclusion is now $14,000 per recipient. In other words, you can give another person $14,000 without any tax consequences, each year. Or better yet, maybe somebody will give YOU $14,000! This is a great way for parents and other relatives to help first time home buyers get the down payment they need to buy a home.
- Payroll tax reductions expired in December, 2012. For most people who receive paychecks, this is already well known. For those of us who are self employed, expect to pay higher taxes when you file your 2013 tax returns.
- Standard deductions for 2013 are $6,100 for singles, $12,200 for married…
Sunday, April 28th, 2013 at 5:28pm. 89 Views, 0 Comments.
We recently listed this house for sale on Saint Louis Drive. Within an hour the phone calls were coming in requesting showings. That first day I spent nearly six hours at the property! The phone was ringing all week and we had a stream of buyers checking the house out.
This home is all about island style. Built in the 1950's, upstairs is a three bedroom one bath living area with a large lanai overlooking Honolulu. The 7,000+ square foot lot provides enough room for a spacious yard along with the house.
Take a look at this cozy kitchen and the airy feel. This home is about 600 feet above sea level, providing cool breezes along with the nice views.
Here's the master bedroom. It has the only air conditioner in the home, which is…
Monday, March 11th, 2013 at 1:31am. 106 Views, 0 Comments.
This article could also be titled "The Importance of Pictures in Selling Your Home".
Professional photographers are artists. They have such a good eye, along with knowledge about lighting conditions and color that it's just the best way to sell some homes. I say "some" homes because there are cases where high quality photos don't help - for example a cluttered house won't look that much better with photos of beer bottles on the floor and dirty laundry laying around.
|The professional photo has nice color and shows off the landscaping.||The amateurish photo tries to get the "for sale" sign in the picture and has poor lighting.|
We sold this house in Kapahulu in February, 2013. Long story short, another realtor…
Tuesday, December 4th, 2012 at 5:10pm. 291 Views, 0 Comments.
Back in 1958 the Date Laau community was created and the neighborhood eventually became home to hundreds of people. The lease expires today - December 4, 2012.
The lessor, Iolani Schools, is not offering a fee purchase option. Owner occupants at Date-Laau will be allowed to continue living there for an undetermined period at market rents. Other owners who are non-residents (I am one of them) lose their interest in their properties at the end of today.
Is this fair? Well, we all knew when we bought that these were leasehold units. I guess technically it is fair. On the other hand, many other properties on Oahu have been converted to fee simple. All of us (owners/residents) hoped for a fee purchase option or an extension of the…
Wednesday, October 31st, 2012 at 10:19am. 228 Views, 0 Comments.
If you live in Hawaii or have visited recently, there should be no doubt that our economy is rebounding. Tourism during the summer set a new record and it looks like the trend will continue through the end of the year.
Visitor arrivals in September 2012 were 595,000, six percent above the same period last year. Tourism dollars spent in September reached $1.1 billion, which was 13% higher than a year earlier.
The majority of Hawaii's visitors are from the U.S. west coast. East coast visitor counts are lower, however those visitors tend to spend more money while vacationing in Hawaii.
Internationally, Japan leads for Hawaii tourism. Other asian countries along with Latin America and European countries have an increasing presence of…
Friday, June 1st, 2012 at 4:39am. 1641 Views, 0 Comments.
In real estate terms, encroachments are intrusions onto a property. Older neighborhoods in Hawaii often have encroachments because the methods of measuring for land surveys decades ago were not as accurate as current methods are.
Encroachments commonly involve walls. For example, a homeowner constructs a wall along the perimeter of his property, believing that the wall is inside the property lines. Later, a survey is performed and it is found that the wall crosses the boundary and encroaches into the neighbor's property.
For residential properties in Hawaii, an encroachment of six inches or less is considered "de minimis". For purposes of buying and selling real estate in Hawaii, de minimis encroachments do not require encroachment…
Sunday, April 22nd, 2012 at 10:55am. 332 Views, 1 Comments.
Paying your real property taxes on time
A customer called me recently about a property tax bill they received from the City and County of Honolulu. This couple had bought their house in Kahala in December, 2011. In April, 2012 they received a delinquentcy notice with penalties and interest for their February property tax bill. They wanted to know why they never received a tax bill in January or February?
I called the Property Tax office to inquire. Here's their response:
- Oahu real estate sales are recorded by the State of Hawaii.
- Property taxes are assessed and collected by the City and County of Honolulu.
- It can take 2-3 months from the time the sale records to the time the sale records to the time the City and County of…
Monday, January 9th, 2012 at 4:42pm. 621 Views, 0 Comments.
Makaha Condos are Moving
2011 was a busy year - it was my busiest year ever! A good reason for it was the sale on properties in Makaha. Condos, townhomes and even single family homes were half price compared to the peak years of 2005-2006.
People want to buy low and sell high for good reason. The only problem is, when prices are low, people get worried that prices will go lower and then they don't pull the trigger. I believe the bottom has already passed. Prices are higher now than they were several months ago and I think they will continue climbing.
Looking at past trends, Hawaii's real estate cycles run about 8-12 years. We maybe just one year into a new cycle. Therefore, if you missed the bottom don't despair. There maybe a lot…
Saturday, October 15th, 2011 at 1:27pm. 865 Views, 0 Comments.
Did you know that this public golf course on the outskirts of Waikiki is the busiest in the world? And being a municipal course the green fees are pretty reasonable.
Walking the course and playing 18 holes cost just $49. If you apply for and obtain a golf card, the fee for 18 holes is $22 on weekends and holidays, $18 on weekdays.
How does one get a golf card? Well first you must be a Hawaii resident with evidence to prove it. More info can be found here.
History of the Ala Wai Golf Course
This land area was a territorial fair grounds in the early 1900's. In 1923, it started off as a single hole. A year later, three more holes were built for a total of four and it was named Territorial Fairgrounds Golf Course. At that…
Tuesday, September 20th, 2011 at 5:34pm. 474 Views, 0 Comments.
We recently listed this immaculate home in Castle Hills, a Kaneohe neighborhood. Built in 1988, it's been well maintained. The current owner has taken great care in upgrading the home for this sale.
Features of the home:
- Three bedrooms, three baths.
- 1,556 square feet interior on a 6,625 square foot parcel.
- New paint inside and out.
- New carpet.
- Two car garage plus outside parking for up to three additional vehicles.
- Fujitsu split air conditioning system.
- Double pane windows in the master bedroom and bathroom.
- Zoysia Z-3 grass, slow growing and drought resistant.
- New refrigerator and dishwasher. Stove is a few years old, looks new.
- Master bathroom newly tiled.
This home just shows so nicely. Take a look!