Are You Missing out on the Benefits of 1031 Exchanges?

Selling Your Oahu Home? Get a free home value report

Buying a Oahu home? Search all homes for sale

Hello, and welcome back! Today, I have a few quick tips on 1031 Exchanges.

If you're an investor, you need to take advantage of 1031 Exchanges when they're appropriate. In order to do this, seek the advice of your CPA to see whether or not you should use one. 

In a 1031 Exchange, when you buy a property that's worth more than the one you're selling, the amount of profit that you're taking from the sale of your first property is considered "boot". The amount you need to spend on your new property must be at least the amount of the original investment and the "boot". For example, if you buy a $1 million property and you are able to sell it for $2 million, you have $1 million in "boot". You can then turn to purchase a new $2 million home using the untaxed $1 million "boot" as an investment. 

You have 45 days to identify the property you want to invest in after the initial sale if you want to qualify for a 1031 Exchange. If you have any questions about this type of investing, or if you have real estate needs of any kind, don't hesitate to give us a call or shoot us an email. We would love to give you a hand! 

Buying and Selling Real Estate in Hawaii

Selling Your Oahu Home? Get a free home value report

Buying a Oahu home? Search all homes for sale

Today I'll be discussing how to buy or sell a home in Hawaii. The rules are different than what you would find in the states, and this is due to the rule of King Kamehameha. Originally, he owned all the land in Hawaii. He leased parcels of land to people around the Island, and eventually these lands were purchased. 

This purchased land is called fee-simple land. We now have fee-simple land with condominiums and homes, but there is also leased land around the islands that have properties on them. 

There is also home land, which is still technically owned by the monarchy and managed by the state of Hawaii. This land is all leased, and it must be owned by native Hawaiians. These people can sell their homes on the land, but they cannot sell the land itself. 

The same thing goes for condos in Waikiki. Sometimes a person will own the land and the property on it, and sometimes a person will only own the condominium. 

Sometimes this is confusing for home buyers and sellers on the island. Hopefully this has cleared things up a bit, as it sometimes creates problems for us in our transactions. 

Looking to Sell Your Home for Top Dollar?

Selling Your Oahu Home? Get a free home value report

Buying a Oahu home? Search all homes for sale

Today I'm going to be doling out some tips for you about how you can take the right steps towards selling your home for top dollar. This year appears to be a particularly good year to sell, so be sure to listen up. 

Find a good brokerage with excellent marketing plans. This is essential to selling for top dollar. You will need a firm with strong marketing skills, and the ability to take photographs and videos of your home to be put online and posted on several different websites. You'll want someone who can market your home to the widest audience possible, in order for you to find the most qualified buyers. 

In Hawaii, most homes are listed between $700,000-$2,000,000. A two million dollar home will obviously need to be marketed differently than a $700K home would be, and your real estate agent should know the difference between what it takes to sell those two very different properties. 

Pricing a home correctly is also a very critical step in the process. If your home is not priced correctly from the beginning, it will have no chance at selling well. A competitive price requires researching the market and leveraging other homes against yours to bring in multiple offers and increase your sale price. 

We pride ourselves on pricing homes correctly at Fathom Realty, and we would love to do a comparative analysis on yours to put you in a great position to sell for top dollar. Please contact us at any time, we would be happy to speak with you!

What's the Secret to Selling in Oahu?

Selling Your Oahu Home? Get a free home value report

Buying a Oahu home? Search all homes for sale

With the busy spring real estate season creeping up on us, there's no better time to talk about pricing your home to sell. 

Why do some homes receive multiple offers and sell for higher than their listing price? It's because they are priced to market! Putting the right value on your home is the only way to get multiple offers and sell your home at a higher value. It's all about being competitive - your listing price needs to be below the price of the nicest home you're competing with, but also above the prices of some of the homes you're competing with that aren't in as great of condition as yours is.

In general, you want your home to be priced attractively to draw in as many buyers as possible. If people find a good value in your home, you'll get lots of offers.

If you have any questions about how you can generate multiple offers and get top dollar for your home, give me a call or shoot me an email. I would love to help you accomplish your selling goals!