Tag-Archive for ◊ hawaii real estate ◊

Author:
• Wednesday, April 25th, 2012

So you want me to sit Open House for your property?

No. I will hold “Brokers Open” which is for Realtors to preview your property. But I will not sit an Open House where the general public has access to you home. Why? Let me ask you this: Do you want people you don’t know going through your house checking out your possessions? Sure, you’ve been told to hide your valuables or even remove them during the time your home is on the market. But what about that prescription medication in your bathroom? Hey, those credit card and bank account statements sitting in your desk look good to an identity thief! And that big TV sitting in the living room of your vacation home that is vacant most of the year?

The Cat Burglar does not want your cat...

The Cat Burglar does not want your cat...

Thieves do go to Open Houses to check out the opportunities to relieve you of your possessions. And if the home is your full time residence, don’t you just LOVE the inconvenience of hauling the family out the door, containing your pets, and vacating your house for hours at a time every Sunday afternoon? Again and again and again…

Show me the Money!

Show me the Money!

So on one hand, I don’t sit Open House to protect YOU, Mr. & Mrs. Seller. I only allow access to qualified buyers who are ready, willing and able to buy your home and are accompanied by a licensed Real Estate professional. You DO want to maximize the potential for the sale of your home rather than letting anybody off the street in, don’t you? Even if they are not “casing the joint”, Open Houses are used by many buyers to walk through homes in which they have no interest other than to learn the market or to validate a decision to purchase another home.
On the other hand, I don’t sit Open Houses to protect myself as well. Let’s just advertise the fact that I will be in a house in the middle of the day when no one else is around and there are even signs leading right up to the front door! Realtors have been raped and killed at Open Houses,  I have no interest in becoming a statistic. Sit with another agent you say? Well, the State of Hawaii prevents law abiding citizens from carrying a firearm for personal protection. Guess who carries firearms? The not so law abiding citizens with intent to commit a crime. Even if there are several agents with me, a can of pepper spray is not going to do anything to deter an armed intruder.

How long until the end of Open House?

How long until the end of Open House?

Most experienced agents pass off (yes, I said “pass off”) the duty of sitting open house to newer agents because they tell them “If you sit Open House at my listing maybe you will get a potential buyer coming in that does not have an agent!” Or I’ve heard agents say, “I’m sitting Open House this weekend and hope to get a buyer!” Or “Maybe I’ll get a lead on a potential listing!”

Sitting Open House is a very passive form of marketing your home. They are used by real estate agents to convince sellers that they’ll be doing everything they can to sell their home, and they disrupt the lives of sellers with little or no value added to their goal of selling their home.

Whoopty-Doo.  “Maybe” and “Hope to”are not key points in my Real Estate business plan… I know that Real Estate is local in its nature, and I’m sure there are areas of the national market where Open Houses do work to some extent to sell homes. And I know I’m going to get blasted as a heretic by those agents. So be it. Would you rather have a passive agent who sits around your house on a Sunday afternoon “Hoping” or an agent that is “Doing” by actively and aggressively marketing your home? I know which one I’d rather have if I were selling my home…

Aloha from Hawaii,

Biz

 

Author:
• Sunday, November 20th, 2011

Not Home for the Holidays? Follow these security tips!

 

Do you know what to do to protect your home from the bad guys? Even if you are not traveling this Holiday Season, here are some tips to make you home less attractive to thieves.

Keep the baddies away fom your stuff!

 

Infographic courtesy of ProtectYourHome.com

Check their great site out for more valuable info, and have a safe home!

Aloha,

Biz

 

Author:
• Friday, July 29th, 2011

Landlords need to read this. Tenants need to read this.

Hawaii has very specific guidelines for Residential Landlords and Tenants. Read it before you enter in a Residential lease, no matter which side of the deal you are on!

Hawaii Landlord Tenant Code Handbook

Author:
• Saturday, June 04th, 2011

Watch out for the scam artists!

 

 

 

Be careful, there are a lot of Fast Freddies out there!
Biz

 

 

Author:
• Saturday, June 04th, 2011

If you are a Hawaii Homeowner facing foreclosure you must read this!

If you are a homeowner in Hawaii, you need to be aware of recent changes in the process here. 

This is an overview of the law from the Honolulu Board of Realtors.

Please get an lawyer if you are going to go through this process, and make sure he or she is familiar with the new law.

Getting off at this exit? Read the new Hawaii Law.

Understanding the Hawaii Mortgage Foreclosure Dispute Resolution

Aloha!
Biz

Author:
• Sunday, May 29th, 2011

The Tax Man Cometh!

Non Hawaii Resident US Citizens and Foreign Investors purchasing Real Estate in Hawaii must be aware that there are State and Federal Taxes due upon the their selling the property. 

I’m not a lawyer or Tax Consultant and I did not sleep at a Holiday Inn last night. This is just a general overview for your information, do seek out the services of your tax professional for more information!

Taxing your Real Estatte

It's a taxing situation for your Real Estate!

Firpta Harpta Tax Information

Aloha!
Biz

Author:
• Saturday, May 07th, 2011

Tips to make your moving day easier.

Not painless, just easier!

I don’t know anybody that likes to move. Except for perhaps Moving Companies… 

Organizing, weeding out stuff, packing it & moving it are some of my least favorite things. So I’ve put together some tips gleaned from my many moving disasters and some successes. Learn form me, Grasshopper!

  • Before you move: PURGE! Get rid of old clothes that you think you may diet down and fit again in this century. Do you really need four sets of everyday dishes? Old ratty t-shirts and shorts to do yard work in? (Oh, wait…I don’t DO yard work!) I am famous for moving these things, then throwing them out when I get to my new place, muttering to myself as to why the heck I paid to move this stuff.

A totally moving experience!

A totally moving experience

  • Hire professional movers. Why you ask?  Well, you can pull your tooth out with a string and a doorknob, why go to a Dentist?
  • Clearly label boxes with contents and the room they will go in and tag furniture as well. This seems like a no brainer, but people often walk around and throw odds and ends for a bathroom into a box labeled “Garage” because there is room in that box. It’s a curling iron, not a tire iron…
  • Prepare a Moving Survival Kit for the new home.  Clocks, box cutters, change of clothes, pain relievers, snacks, disposable dishware, extension cords, batteries,a couple of flashlights in case the power has menehunes,  sheets and towels, medications, basic tools, cleaning supplies, trash bags, pet food and toys, TOILET PAPER!!!, work gloves, bottled water and toys for the kids. Have the movers put this box in the room closest to the entrance to your new home. In plain view, not hidden behind other boxes. You’ll thank me for this one. Oh, I throw in a box of Franzia Chablis as well for attitude adjustment… And did I say Toilet Paper?
Moving Man

Coffee Break already?

 

  • If you have hired movers, be present for the pickup and delivery.  Check the movers inventory sheets, ensuring all items are accounted for. Give the movers an inventory list with serial numbers, make, and model of your key possessions.  Make a floor plan of your new home and label the rooms to help the movers match boxes that say “Bedroom 1”, “Den”, etc. with each room.
  • It’s also nice to have cold bottled water in a cooler available for the moving crew. A little kindness goes a long way on a hot day!

 

 

  • The last thing you want is a child getting injured because they are in the way.  This is a good day to let kids stay with a friend or relative. Pack their belongings ahead of time with them so they feel part of the process, but having them underfoot when the movers are carrying your sofa through the door is a recipe for disaster. Make it a priority to get your child settled into their room first. This helps them feel more comfortable with their surroundings and begin to adapt.
  • Pets get really stressed out with a move. I’ve moved with my pets and kept them in a spare room, but really the best thing for them is board them for a day or two. They go from one home to another with a lot less stress. My cats were boarded at the vets this last move and they did much better coming into a new place where I was relatively settled after two days rather than throwing them into chaos.
Remember the Pets don't like to move , either!

Remember the Pets don't like to move , either!

  • Let  the neighbors know your dates and ask them if they would make arrangements for giving you street space.  It is a courtesy and you will need parking for the moving trucks and friends and family vehicles.  Of course, if you have friends like mine they will conveniently be out of town on your moving day and won’t be able to help, so that solves their parking issues!
  • Either hand-carry or send valuables via registered and insured mail services.
  • Do a last minute walk through to ensure you have not left anything behind.  Lock the doors and windows, turn off thermostat/lights and make sure the faucets and toilet are shut off (if applicable).
We likez da new place!

We likez da new place!

 

Well, that’s it in a nutshell, or should I say moving box… stressful, frustrating and more expensive than you thought; moving is not fun.

I made a checklist you can download here to help you keep on track.

But grit your teeth, get uber organized and “Git ‘er done”.  Once you’re finished it is a great relief to be in your new place.   Go out and explore your new neighborhood. Treat yourself to some chocolate. And you will forget all about it. Until your next move.

Aloha,

Biz

 

UPDATE 7/24/11

I moved to a new place on June 30th. Did everything like I said in my article. Except for one little teeny thing. Remember that part about Labeling the Boxes? You need to be specific, especially on those last minute boxes that you will be throwing stuff in as the moving van is ready to pull out of the driveway. I labeled a box “Kitchen”. Thinking it was just extra kitch stuff, I left the box unopened at the new place for a couple of weeks. Ever know what a Rubbermaid Container full of cheese smells like after it has been sitting in 89 degree heat in Hawaii, closed up for weeks? I do now! So be VERY specific…and fear the Box O’ Cheese!

Author:
• Sunday, April 24th, 2011

Price it right from the get go, or go away!

 

 

Get it? Got it? Good…

Biz

 

 

Author:
• Saturday, April 02nd, 2011

Here are some tips to help prevent buyer’s remorse!

Think you’ve found your perfect new home and ready to make an offer? Before you do, here are some tips to help prevent buyer’s remorse. 

 

1. Drive through the neighborhood in the morning, afternoon, and in the evening.  Drive through on a weekday, weekend and holiday if you can. Each time gives you an idea how busy the area is with traffic, how quiet or noisy it is and how active or empty it is. I know a fellow (not one of my clients) that looked at what he thought was his perfect condo, bought it with out checking it out at different times of the day. What he didn’t tell his agent was that he worked several nights a week and slept during the day. What the agent did not disclose that there was a glass-recycling container in a shopping center right near his unit…

It's a Beautiful Day in the Neighborhood!

It's a Beautiful Day in the Neighborhood!

 

2. Visit the schools your kids may be attending and speak with the principal to get a tour during the school day if possible. That will give you and idea of class size, facilities and how the student body behaves.

 

3. Drive to and from your workplace during your regular commute. What may be a quick fifteen minutes during non rush hour can be a nightmare when everybody is going to work or home.

Any Cat Burglers in the Hood?

Any Cat Burglers in the Hood?

 

4. Talk with the neighbors. Take this with a grain of salt; you may get truth or nasty gossip. But you may want to know Mr. Smith mows his lawn in a Speedo, and it is not a pretty sight…

 

5. Check with your state sex offender registry and your local sex offender site. In Hawaii you can find this information here, each state has their own list.

6. Visit SpotCrime or local online crime reports such as the Oahu Statistics by District Sector to see the activity in the area. Your agent is prohibited by Federal law to disclose types of people and crime information, but you can research for yourself.
 

 

7. What’s going on in the surrounding area?  Is there a busy street or highway, major long-term construction, or other issues close by? Are there major sports arenas near your neighborhood? When there is a football game people here on Oahu plan their commute around it, because traffic in that area turns into a parking lot. I learned this the hard way. I had forgotten about a Big Game and decided to go home via Aloha Stadium area. What normally took me forty-five minutes turned into a three-hour stint. Good thing I am mellow and love my Jazz radio, but there was some nasty road rage going on around me.

Chill, People!

Chill, People!

Remember, you are not just buying a house; you are buying a lifestyle and a neighborhood.   Remember Mr. Smith and his Speedo?

 

Aloha,

Biz

 

 

Author:
• Tuesday, September 14th, 2010

Yes, you need to talk to your lender FIRST!

You heard me right. No pre-approval no workey.

Why? You say other Realtors showed you homes without one. Well, you didn’t buy any of those did you? And how did you know how much you could afford? You don’t know, you just want to look… Well, my Buyer Buddy, I am not an Oahu Tour Guide. We don’t go out and look at homes; we go out and buy homes.


Talk to your lender FIRST!

Talk to your lender FIRST!


Harsh? Maybe. But why should we waste time looking at property you can’t afford to own? It will just make you depressed and make me cranky. You don’t want me cranky.

It’s best to know how much home you can afford before starting the search process. Otherwise you will be looking at designer dream homes that are way out of your budget, and those mansions make homes you CAN afford look less appealing. Then YOU will be cranky. And I don’t want you cranky either.

After gathering your financial and employment information the lender will determine how much they are willing to loan you for a home. Getting approved does not mean that you are guaranteed to get that money, and that is not an exact figure. There will be further questions as you come to getting the loan, but this is assurance that you qualify for a certain amount of dollars.

When you do find the home you want, sellers are more likely to accept lower offers from buyers that are pre-approved. This is because they know if they accept the offer from a pre-approved buyer there is a better chance the sale will go through versus an offer that still needs to find a lender.

You DO want an Accepted Offer

You DO want an Accepted Offer

Here are three basic things that you need to prove when speaking to a lender for pre-approval:

Your Income and Income Ratios
You need income.  You need to be able to afford the home. What is acceptable income?  That depends on the type of loan that you apply for. These Ratios determine how much you can afford to spend on a home.

1. First Ratio – The first ratio, top ratio or housing ratio.  That means out of all the gross monthly income you make, no more than a certain percentage of it can go to your housing payment.  The housing payment consists of Principle, Interest, Taxes and Insurance.  There are a lot of exceptions to how high you can go, but let’s just say that if your housing costs are 33% of your income or less, your are ok.


2. Second Ratio- The second ratio, bottom ratio or debt ratio includes the housing payment, but also adds all of the monthly debts that you have.  This would include: auto loans, credit cards, student loans, personal loans, child support, alimony, etc. if you’re paying less than 43% of your gross monthly income to all of the debts, plus your proposed housing payment.

What qualifies as income?  It’s income that has a minimum of a two-year history of being received and high assurances that it is likely to continue for at least three more years.  Cash income and  short-term income don’t count.

Your Assets
Do you have enough assets to bring the money to the table for the down payment that the type of loan asks for? USDA says that there can be no money down.  FHA, for now, has a 3.5% down payment.  Some loans require 20% down.  These assets need to be validated through bank accounts. Can you borrow the down payment?  Sometimes.  Generally if you’re borrowing a secured loan against a secured asset you can use that.  Talk with your lender about what qualifies as an asset.

Your Credit Score
620 is the bottom score (again with few exceptions) that lenders will permit.  Below a 620, then you’re probably not going to qualify for a loan.  Even at 620, lenders consider you a high risk and are going to penalize you with a more expensive loan.

Once you have spoken with a lender and gotten pre-approval you need to give them permission to release to me a letter saying how much money you can spend on your new home.

So hop in the car! Let’s get you moved into your new home!
.

Dig my ride?

Dig my ride?

What,  you’d rather drive yourself? Ok, follow me!
Aloha from the Real Estate Biz!