This week we finished another project in Kaneohe, Hawaii where we rescued a homeowner from foreclosure. This single family home acquisition was particularly rewarding because we built such a strong rapport and friendship with the seller. It was a true joy from the first meeting last spring through a few days ago when we confirmed that the seller got a big check and was able to put the entire … [Read more...]
What is an Agreement of Sale?
You may have heard the term Agreement of Sale and wondered what it is and how it can be used to buy a house or sell a house. What is it? When is it used or not used? Is it even legal? An Agreement of Sale is simply an agreement between a buyer and seller to a sell a piece of real estate. That's it -- it doesn't need to be complicated. However, the terms of the Agreement are what really … [Read more...]
Should You Sell Your House As Is or Renovate First?
It's a standard question once you've decided to sell your house: should you sell your house as is or renovate first? One look on the Oahu MLS shows a mix of properties both renovated and fixer uppers requiring some -- or a lot -- of TLC. What does that mean? It largely means that any house can sell, given the right price. After all, even if your house is a true fixer upper, there's a current … [Read more...]
Does Price Alone Sell Your House?
The Hawaii real estate market continues to sizzle, with estimates of median single family home prices in Honolulu County toppling $700K by the end of the 2014. Low mortgage interest rates and low inventory have combined to create a supply and demand combo that has created a house-buying fever. Of course, we don't know how long this run-up will occur (remember the housing bubble, anyone?), but for … [Read more...]
How Does Seller Financing Work
You may have heard the term "Seller Financing" or "Owner Financing" being thrown around in real estate conversations. But do you know what it means? It can be a great tool for putting more money in your pocket from selling your house, but how does seller financing work? Seller financing is actually a broadly defined term that is used in a number of different types of real estate transactions. … [Read more...]
Intangibles When Selling Your House in Hawaii
Aloha, friends. I just got back home from visiting a few potential homes for purchase here on Oahu and wanted to share some quick thoughts. When analyzing a home to buy (or if you're selling your house), there are some obvious and not-so-obvious factors to consider when trying to figure out its true market value. The normal way to figure out how much your home is worth is by "running comps". … [Read more...]
Selling Your House in Hawaii Privately
It's safe to say that a majority of homes for sale in Hawaii are put on the MLS and offered to the local real estate market. This is the normal way to sell a house. The sequence goes something like this: Homeowner decides the time is right to sell their house They contact a local Hawaii real estate broker or agent Property is listed at an agreed price Agent holds one or more open … [Read more...]
Keeping Up with Mortgage Payments
Keeping up with mortgage payments can be one of the biggest financial responsibilities you take on, aside from keeping food on the table. In the up, down and rebound of the real estate industry over the past 10 years or so, many people have bought homes in Hawaii. And a portion of those are actually happy they did. Those homeowners who unfortunately bought when the market was high (pre-crash) … [Read more...]
Orchestrating the Sale of Your House
Selling your house can be one of the most difficult transactions you'll ever be a part of. It sure would be nice if selling your house was like selling your car, your couch or your prized baseball card collection. The truth, though, is that selling your house is no easy feat. It requires orchestrating a multitude of moving parts, legal and non-legal in nature, technical and non-technical, … [Read more...]
Can You Help a Homeowner Friend in Need?
You know what can be the hardest thing to do? Ask someone for help. It's human nature that we rarely actually ask people for help, no matter how much we may need it. I think we all feel, at some level, that asking for help means admitting weakness. The truth is that we ALL need help at some point. Every single one of us, even here in beautiful sunny Hawaii. And if we all need help, doesn't that … [Read more...]