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August 2016

There are 6 blog entries for August 2016.

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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We at Team Lally of Keller Williams Honolulu have assisted over 1000 families in Hawaii, and we strive to get every family in a home. Unfortunately, the Team Leader of Team Lally, Adrienne Lally know's that not everyone has a home in Hawai'i. "We're very happy to help so many families own a piece of paradise, but it's very sad to think about all the families that can't", said Adrienne. There are so many non-profit organizations with goals of helping homeless families, so we partnered with Project Hawaii Inc. Project Hawaii Inc. is a local non-profit that helps homeless children through summer camps, programs, essential supplies, and rehabilitation. 

Project Hawai'i, Inc., is a non-profit organization run 100% by volunteers and solely supported by…
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