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Selling a Home in Oahu, HI

Selling a Personal Residence vs a Second Home or an Investment Property.
Tracey explains the difference between a personal residence, a second home, or an investment property.
Proceeds vs Gains
Tracey talks about the difference between sale proceeds + sale capital gains.
Not sure about a 1031 Exchange?
Tracey explains a 1031 option.

WE KNOW THE OAHU REAL ESTATE MARKET.

Oahu is a unique and diverse area. Each community has its own character. Each neighborhood appeals to a different buyer. To obtain the highest possible sales price for your home, the marketing must reach the right buyers with the right message. We have the network and experience to do this.

WE HAVE THE CREATIVE TALENT TO SHOWCASE YOUR HOME.

The old adage, "You can't judge a book by its cover" is passé today. This is a fast-paced, image-oriented society in which we live. First impressions really do count! Every piece of information on your property, whether it be a brochure, the wording in the Multiple Listing Service, a presence on the Internet, or a well-placed advertisement, must show your home in the best possible light.

During all phases of a listing from the initial paperwork and promotion through the very last details of the closing, we personally attend to all of the details. As a result, the large majority of our transactions come through referrals and repeat business.

EXPERIENCE RUNS IN THE FAMILY

Stott Real Estate’s entire staff is dedicated to their clients’ success.  There are always several staff members available to answer phones during normal office hours to answer your questions.

TRACK RECORD

Tracey Stott Kelley consistently ranks among the top Realtors on Oahu and in the state of Hawaii for both the number of properties sold and dollar volume sold. Hawaii Business Magazine has recognized Tracey as one of the top 100 Realtors in the state of Hawaii each and every year since 2007. Less than 10 Realtors in the state of Hawaii hold that distinction.

COMMUNICATION

We pride ourselves on communication. Stott Real Estate, Inc. has two full-time receptionists to answer the phone when you call, so you rarely have to navigate a voice-mail system when you call during normal working hours.  We regularly update our clients throughout the entire process. Our system implementation and sales process are unparalleled.

YOUR NET

Our owners sell their properties at a high percentage of their asking price. You’ll have competent, experienced negotiators working for you.

CONFIDENCE

We’ll cancel your listing within 24-hours if you’re not satisfied, regardless of the time or money we’ve spent marketing it.  To our knowledge, we are the only Oahu real estate company that puts this clause in all our listing agreements.

EXPERIENCE AND ENTHUSIASM

Tracey Stott Kelley has the experience, knowledge, and enthusiasm to get your property SOLD! She grew up in the family business. Tracey has sold about 1,000 homes over the course of her career and has overcome almost every possible challenge associated with selling a home. Tracey excels and helping clients achieve their real estate goals.

Questions About Selling A Home

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Verify Permit Status
Tracey suggests when having improvements on your home, you should verify the building permit has closed.
Co-ownership
Tracey shares that ownership of real estate property can be held in equal or unequal shares among the property's co-owners.
Properties with a "sandwich lease"
Tracey explains what options you have when there's a "sandwich lease".
Automated Search
Tracey discuses the benefits of have Stott Real Estate, Inc. set up an automated search for you.
Proceeds vs Gains
Tracey talks about the difference between sale proceeds + sale capital gains.
PV Systems
Tracey talks about options between to rent or buy a PV System.
Clauses seen in contracts.
Tracey talks about some clauses you could see in contracts.
Parking Stalls
Tracey suggests to make sure you've verified in writing what parking stalls come with your purchase.
Not sure about a 1031 Exchange?
Tracey explains a 1031 option.
Getting a new "GET" License
Tracey explains the need to obtain a new General Excise Tax License.
What is Depreciation?
Tracey shares a briefly discussion on What is Depreciation?
What is Residential-A?
Tracey describes what Residential-A means for Tax reasons.
Selling a Personal Residence vs a Second Home or an Investment Property.
Tracey explains the difference between a personal residence, a second home, or an investment property.
Seasoning of Funds.
Tracey shares a helpful tip on how to prove that your funds for a downpayment when ready to purchase, have been seasoned for 60-90 days.
Issues to be aware of with Owner-Builder Permits.
Tracey addresses the issues you may have if you get a permit under Owner-Builder Status.
Can a married couple claim two places of residency?
Tracey shares a perfect example on how to make this possible.
Filing for Home Exemption before Tax Year
Tracey tells you how to sign up for a home exemption so that you get the tax advantage as an owner occupant.
Selling on Oahu when your residence is on the mainland.
Tracey discusses when you are an out of state resident and you sell a property on Oahu, there are fees collected upfront for capital gain taxes.
Paying Taxes on a Hawaii Rental Property
Tracey describes that taxes the Hawaii investment property owners must pay.
Owning a Home in the Name of a Trust
Tracey describes the need to have a bank account in the name of a trust to sell the home.
VA offers + non-allowables
Most offers we are seeing now do not have the seller paying the buyer non-allowable costs, which was quite prevalent years and years ago.
Have a file documents of Home Improvements
When you own a home, there are tax advantages for documenting the capital improvements when you sell. Tracey talks about a simple method that can make this easier even if you have owned a home for decades.
Paying Taxes if selling on Oahu while residing out
Selling with a POA when you have a Trust
Tracey touches on the fact that not all Trust allow POAs.
Exclusions when spouse has passed
Tracey describes the amount of time you have after a spouse dies to still claim capital gains tax exclusion.
Survey
A survey refers to the process of locating and measuring a property's boundary lines.
Association Fees
Association fees are not always charged in January
Current Oahu Homes for Sale
Area # Price Range
Central Oahu 68 $100k - $9.0m
Ewa Plain 171 $375k - $5.3m
Diamond Head 133 $175k - $27.0m
Hawaii Kai 63 $379k - $11.9m
Kailua 65 $499k - $30.5m
Kaneohe 66 $95k - $8.0m
Leeward Coast 135 $159k - $7.0m
Makakilo 36 $450k - $10.0m
Metro Honolulu 1000 $31k - $35.0m
North Shore 89 $425k - $40.0m
Pearl City 78 $30k - $3.2m
Waipahu 53 $175k - $1.6m
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September 2022 Email Update

The August median price for single-family homes was $1,125,000 (7.2% higher than August 2021) and for condos was $498,000 (0.3% lower than August 2021) as higher mortgage interest rates and sales prices continue to dampen demand.  The ...

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