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Tracey's Tip of the Day

Tracey gives many practical snippets of advice and information concerning real estate, steps in completing a Oahu real estate transaction, things to consider with estate planning related to Oahu real estate, and more.

Tip Of The Day

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.
Exclusions when spouse has passed.
Tracey describes the amount of time you have after a spouse dies to still claim capital gains tax exclusion.
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.
Paying Taxes on a Hawaii Rental Property
Tracey describes that taxes the Hawaii investment property owners must pay.
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.
Selling with a POA when you have a Trust.
Tracey touches on the fact that not all Trust allow POAs.
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.
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.
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.
Can a married couple claim two places of residency?
Issues to be aware of with Owner-Builder Permits.
Tip of the Day: Seasoning of Funds.
Current Oahu Homes for Sale
Area # Price Range
Central Oahu 52 $75k - $3.7m
Ewa Plain 53 $300k - $2.3m
Diamond Head 265 $40k - $37.0m
Hawaii Kai 87 $23k - $18.9m
Kailua 90 $346k - $27.5m
Kaneohe 118 $64k - $3.7m
Leeward Coast 86 $118k - $2.3m
Makakilo 28 $230k - $1.5m
Metro Honolulu 1603 $46k - $15.9m
North Shore 159 $195k - $45.0m
Pearl City 60 $95k - $10.0m
Waipahu 30 $220k - $4.5m
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October 2020 Email Update

The September median price of single-family homes was $880,000 (13.3% higher than September 2019) and of condos was $445,000 (unchanged from September 2019) as the COVID-19 pandemic continues to shape residential real estate demand.  The ...

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