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Team Lally Real Estate Blog -Keller Williams Honolulu


We are here today to talk to you about property taxes. Currently, the minimum basic home exemption is $80,000. For homeowners age 65 and up, the exemption is $120,000.

To qualify, you must own and occupy the property as your primary residence, and your ownership must be recorded at the Bureau of Conveyance. You must file a claim by September 30th preceding the tax year of which you claim the exemption in order to get it.   “
Your claim must be filed by September 30.

There are other exemptions you should be aware of besides the single-home one, like exemptions for totally disabled veterans, low-income rental housing, and more.

Check out the website for the City of Honolulu’s Department of Budget and…
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  OAHU REAL ESTATE MARKET IS STRONG IN AUGUST - As the summer comes to an end, the Oahu real estate market picked up speed and slightly in price. The average days on market for Oahu condos sold 17% quicker than last month, a 3 days difference at 15 days on market. However the average sales prices slightly dropped 1%. Don't let the 1% price drop fool you, in the month of August, Oahu Realtors helped close a total of 481 homes, a noticeable difference than the previous month. In August, Oahu Realtors sold 8% more than August,  37 more homes sold than the month of July. Momentum has also increased in for single family homes on Oahu, with a slight increase in price and 22 more single family homes sold.
Can we possibly see Oahu's real estate market…
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Attilio and Adrienne have collected Tom Asacker's best selling business books and his latest one "The Business of Belief." Adrienne also had the chance to hear Tom speak. Now The Team Lally radio show is very lucky to have Tom guest in this episode. Listen in to know the principles of what drives decision making, information flow, branding and beliefs in the world of business and marketing.    Also find out why working with Team Lally is "funner!" How you can join Team Lally's Pumpkin Patch event plus our tips of the week.   Who is Tom Asacker?   Tom Asacker is a renowned Author and Key-note Speaker and regarded as an Innovator, change agent, provocateur. He has written several business books and has been a key-note speaker sharing…
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Know more about what CCIM (Certified Commercial Investment Member) is from Anthony Provenzano and find out how he achieved this prestigious title. Team Lally was honored to have Anthony in this episode who shared the key steps, and what it takes to move ahead as a CCIM. We would recommend you take note of the events and projects Anthony shared and encouraged listeners to participate in. Enhance your knowledge in Commercial Real Estate and get inspired to follow the same path Anthony took. As Attilio and Adrienne shared follow ABC, Always Be Curious!  

As part of our weekly show we have the PM tip of the week, VA loan short sale tip, Designer tip of the week, Open Houses from our Buyer agents and Coming soons from our Seller agents.  
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From June 1st to November 30th is hurricane season for Hawai'i. A season of powerful storms that can be life-threatening as well as cause serious property-threatening hazards such as flooding, storm surge, high winds and tornadoes. Here is some helpful information as you plan before and after hurricanes. 

Hurricane Kit

Make sure your hurricane kit includes:

  • Flashlights & extra bulbs
  • Battery-operated radio
  • Battery-operated lanterns
  • Batteries (in different sizes!)  
  • Matches 
  • First aid kit
  • Duct tape
  • Rain gear
  • Gas powered stove
  • Plastic garbage bags
  • Fire extinguisher
  • Fill your car’s gas tank.
  • Toilet paper 
  • Clean clothes
  • Extra blankets
  • Extra cash

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Many of you may be wondering whether it’s a good idea to enter the real estate market during the upcoming election. It’s common knowledge that the real estate market weakens during these times, but there are many other factors to consider.
Real estate markets falter during elections mainly as a result of consumer confidence waning. A new leader will be elected, and that brings uncertainty and discomfort to home buyers and home sellers. A home is a huge investment, and historically, during periods of uncertainty, people have waited to make large expenditures.
What does all of this mean for you?
It depends on your wants and needs, and it also depends on who is standing atop the podium in November.
The truth of the
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Buying a home is still a huge part of the american dream, and everyone can agree it's up there as one of the most biggest financial decisions you'll ever make in your life. Another thing that everyone can agree on is Oahu real estate is a tough market to buy a home in comparison to many places in the mainland, so that's why prospective homebuyers and investors need to follow these 10 commandments. We have worked with over 1000 clients in our years in Oahu real estate, and in the most unfortunate events we have seen homebuyers make decisions that delayed their chances of buying a home. Follow these 10 Commandments When Buying a Home or Applying for a Mortgage and you can assure yourself that you will always be in good standing for buying a home in Oahu. 

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A Copy And Pasted Ad

Copied and edited content from realtors are going down in the books as the most common form of rentals scams in Hawaii. Lets say a real landlord, property manager, or realtor writes up an amazing home description for their newly vacant home or apartment and posts it online for rent. Someone from anywhere in the world, lets call them a scammer will easily copy and paste the home description in a new ad, but will lower pricer than the other ad.  Prospective renters will pounce on the fake ad because of the appealing price. This type of scam is known as a "clone scam", this scam is targeted directly at someone who is too busy to see the property or renting off island and is willing to put down money sight unseen. Another giveaway are

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  HOME SALES DROP SLIGHTLY IN JULY, BUT DEMAND STILL STRONG — HBR released resale figures today for the month of July 2016. According to the analysis, using data collected, the statistics are: Single-Family Home Resales Number of Sales. This Month Compared To Median* Sales Price This Month Compared To July 2016 322 $746,000 July 2015 337 -4.5% $710,000 5.1% Condominium Resales Number of Sales This Month Compared To Median* Sales Price This Month Compared To July 2016 444 $400,000 July 2015 501 -11.4% $350,000 14.3% *Median price means half the prices were above and half below the given price.   During July 2016, sales of single-family homes decreased by 4.5 percent compared to July 2015, while condominium sales decreased by 11.4 percent…
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  Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation  Call us at (808) 426-7211 for a FREE home buying or selling consultation

Today we’re joined by Julie Tumbaga, the vice president and regional manager of Old Republic Exchange Company, to help dispel some myths surrounding the 1031 exchange. A 1031 exchange is a way to defer paying capital gains tax. This applies only to investors. They sell or buy a property within a specific time, and if they have gain and they want to defer it, they have to do an exchange. Here are the top 10 misconceptions about the 1031 exchange:

  1. Like-Kind means you must exchange the same type of properties. Nope!
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