Found 7 blog entries tagged as Buying.

How Is The Maui Market?

On Maui, we're seeing some interesting shifts in the real estate market.

  • New listings for single-family homes have increased by 17.0%, and for condos, they're up by 9.8%. This means more options are becoming available for buyers.
  • However, pending sales have taken a hit, dropping by 25.4% for single-family homes and 40.4% for condos. This indicates that fewer homes are going under contract right now.
  • Inventory levels have also risen significantly, with a 25.8% increase for single-family homes and a whopping 198.2% increase for condos. More homes on the market can be great news for buyers, giving them more choices.
  • Interestingly, while the median sales price for single-family homes has jumped by 30.8% to…

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Unlock the Secrets of Homeownership

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Why Attend Our Webinar?

Many families might not realize how achievable it is to buy a home and secure a bright future for themselves. This webinar is designed to break down the process of buying a home in today's changing market, making it…

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How Is The Maui Market?

As you will see below, we are clearly in a buyer's market for condominiums, as months supply over six, is the threshold. There are a few events that are contributing this buyer's market. 

  • SB2919 is a major player in the changing condo market on Maui. The bill gives counties in Hawaii the power to regulate short-term vacation rentals, aiming to address the housing crisis by potentially reducing the number of short term rentals in Apartment zoning. This has increased Maui's condo inventory and is impacting more than just the short term rental properties.
  • Higher AOAO dues that we are seeing at many of the complexes, due to the result of insurance increases since the fires. We are seeing these increases in other sates…

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How Does SB 2919 Impact Maui Vacation Rentals? 

What are the potential impacts of Senate Bill 2919 on Maui vacation rentals? This significant legislative change could dramatically alter the landscape for short-term vacation rentals across Hawaii, with a particular focus on Maui.

What's the buzz all about? The Maui mayor's strong reaction to this bill has sparked widespread discussion. Although the legislation affects the entire state, each county has the authority to decide how to implement these changes. 

Considerations

  • What is Senate Bill 2919: The bill gives counties in Hawaii the power to regulate short-term vacation rentals, aiming to address the housing crisis by potentially reducing the number of short term rentals in…

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What does agency in real estate mean?

Understanding agency in real estate is fundamental for anyone navigating the complexities of buying or selling property. Simply put, agency refers to the relationship between a client and their chosen real estate brokerage firm. This concept is prominently featured on the first page of both the purchase contract and the listing agreement for good reason—it forms the foundation of the entire transaction process.

In Hawaii, when a buyer or seller engages a real estate brokerage firm as their agent, they are represented by that firm and all its licensees. It's a legal requirement for real estate licensees to disclose, either orally or in writing, whom they represent to the…

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Tax Considerations When Selling  

As you explore the possibility of selling your property, it's essential to be aware of the various tax considerations that may impact your transaction. Capital gains along with two important regulations to understand are HARPTA (Hawaii Real Property Tax Act) and FIRPTA (Foreign Investment in Real Property Tax Act). Below, I've outlined key information about these withholdings to help you navigate the selling process smoothly.

Capital Gains Tax

When selling your home, one financial consideration to keep in mind is the capital gains tax. This tax is imposed on the profit you make from the sale of your property. To calculate your capital gains, subtract the property's purchase price (adjusted basis) from the…

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February Market Statistics

National Statistics: In February 2024, there was notable growth in U.S. existing-home sales, with a 3.1% increase month-over-month, reaching a seasonally adjusted annual rate of 4.00 million homes. This exceeded the expectations of economists and represented the strongest sales pace since August 2023, as reported by the National Association of REALTORS® (NAR). The decline in interest rates towards the end of the previous year, combined with a recent rise in inventory, contributed to this increase, particularly following a decline in sales the previous month. The Midwest, South, and West regions all saw monthly gains.

As of February, the total inventory stood at 1.01 million units, showing a 2% increase from the…

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