Because of low prices, leasehold properties can look like a great deal. In most cases there are pitfalls (expiration, renegotiation, necessity of buying the land, etc.) that can create too many headaches to make them worth the investment. This video gives you a solid overview of the the potential issues associated with leasehold real estate on Oahu and in general.
Burial caves can be significant to Hawaii real estate. I discuss a Nuuanu property that I sold which had a documented burial cave. Also, whether or not it was ancient Hawaiian or more modern. Finally, I overview an inexplicable event that may have been a ghost.
This is the first of what I expect to be many “Cocktail Stories” from my career in real estate. These tales are true and may be about funny or hard transactions. I have found most people like the narratives involving spirits and ghosts. In all of them the names have been left out or changed to protect the innocent.
Today’s post involves a home that was having difficult time selling and it was discovered that the deceased owner had returned to the house. Let me know what you think.
In this second of two videos, I discuss issues created by giving parts of a property to different people while you are alive. Secondly, how one should not expect co-settlers of your estate to agree. They are both technical and illustrate how thinking things through is for the benefit of everyone.
Recent hikes in interest rates have impacted the Oahu real estate market. Given these changes, a good real estate broker and their seller need to shift the way the relevant active, pending and sold listings are viewed. In this video, I discuss how to get sales information that allows you to assess the price that will get you the most money for your property.
If we agree that we are all going to die, then it is important to have a plan for our estate when we pass. In today’s video I discuss two of the four biggest mistakes people make with their estates.
Almost everyone knows that the Fed has increased interest rates and will continue to to do so for the short to mid-term future. I call this a transitional time because we are moving from historically low interest rates and, as I write, it is difficult to tell what all of the impacts of higher mortgage costs will be. In this video, I discuss some of what I see happening and I try to project what may happen. Feel free to call me to discuss how these rates may impact you.
Based on what I now know (after nearly 40 years in the real estate business), if I were fresh out of college, I would approach my real estate purchasing differently.
First, I would purchase sooner. Instead of paying rent I would use that money toward a mortgage.
Second, I would buy low down payment properties that I could live in and I would have lived there.
Thirdly, once I fulfilled the lender’s owner occupancy time frame requirement, I would purchase another owner occupant, low down payment property and I would have moved into it.
Fourth, after moving into my next home, I would rent out my previous property.
I would keep doing this pattern until I purchased too many properties or my needs changed. Feel free to call me if you would like to discuss implementing a version of this plan.
There are many methods to come up with a value for a house. Before you consider how, it is important to ask what you need it for. Is it to list the home for sale? Your annual trust valuing? For a certain date range? Or for estate purposes and the value at someone’s death?
After determining what you need the evaluation for, the estimation of a sales price or value of a property should be science and can involve some art. In this video, I discuss various tools for coming up with the correct value of a home.
Traditionally, the Oahu real estate market has been driven by the significant play of off shore buyers (Japanese, Canadian, Californian, Australian, Korean & Chinese). 99% of the sales on Oahu during the Covid years (2020 & 2021) were driven by local on island purchasers.
Now the travel has opened back up, could we expect a further run up in the market? Is there pent up demand by off shore buyers to make up for the missing the last two years? Could geo-politics make Oahu a safe haven for international funds? Time will tell…