This week on the Team Lally Real Estate Radio Show, we interview Nikki Nakamura of American Floor & Home. We’ll talk about the many ways American Floor & Home provides exceptional flooring options and expert advice.
We also have your favorite experts providing this week's tips on property management, mortgage loans, home inspection and home insurance!
Who is Nikki Nakamura?
Nikki Nakamura is currently the Marketing Director for American Floor & Home, which is Hawaii’s one stop shop for whole home remodeling. She was born and raised on Oahu as an alumnae of Sacred Hearts and University of Hawaii and was in the hospitality industry for over 10 years which was a major shift to a locally owned company.
To reach Nikki you may contact her in the following ways:
If you get a one-star review, what’s the best way to respond?
-94 percent of consumers say that a bad review has convinced them to avoid a business.
-53 percent of customers expect businesses to respond to negative reviews within a week.
-But 63 percent say that a business has never responded to their review.
-45 percent of consumers say they’re more likely to visit a business that responds to negative reviews.
How to respond:
1. Address the reviewer
2. Say thank you
3. Apologize and sympathize
4. Take responsibility
5. Make things right
6. Take the issue offline
7. Ask for a second chance
We’re explaining how we can conduct open houses, even amid COVID-19.
Guess what… we’re doing illegal open houses! No, just kidding, we’re only conducting virtual open houses. We have a Matterport camera, we’ll spend about two to four hours at your home filming, then we create a 3D walk-through of it. We use Zoom and Facebook Live to virtually show your house to whoever wants to view it. If you want to see some real examples of this, visit our website, go to any listing, and click “virtual tour.” To learn more about our virtual open houses, watch the short video above.
You're invited to our Virtual Open Houses, live on Facebook!
Real estate agents across the country are hosting virtual showings in order to continue to safely show homes. Did you know that Team Lally conducts virtual open houses too? We’ve been hosting open houses live on our Facebook page and you’re invited to participate! We take your safety seriously, so we follow best practices set forth by the Honolulu Board of Realtors, including moderating conversation and maintaining confidentiality. Check out our schedule of upcoming showings here and join us live on Facebook!
Today we’re joined by Julie Tumbaga, the vice president and regional manager of Old Republic Exchange Company, to help dispel some myths surrounding the 1031 exchange. A 1031 exchange is a way to defer paying capital gains tax. This applies only to investors. They sell or buy a property within a specific time, and if they have gain and they want to defer it, they have to do an exchange. Here are the top 10 misconceptions about the 1031 exchange:
Like-Kind means you must exchange the same type of properties. Nope! Like-Kind is actually very broad and can be any combination of real property.
Your attorney can handle it for you. Your attorney hopefully can handle a lot of things, but they actually cannot handle this for you if they have been your attorney for the last two years.
You must literally swap your property with another investor. Wrong - you only have to be buying and selling investment properties. It doesn’t matter who you buy the property from, only how you use it.
1031 exchanges are too complicated. They’re actually not so bad. The paperwork is pretty standard. Just sign when you buy and sign when you sell.
The sale and the purchase must take place simultaneously. There are, on the contrary, different timeframes when it comes to the exchange. You have 45 days to identify the property and 180 days to close on it.
You only need to file a form with the IRS with your tax return and roll over the proceeds into a new investment. While you do need to report your 1031 exchange with the IRS, you also have to have all the 1031 exchange paperwork signed before the closing and purchase.
1031 exchanges are only for real estate. There are other types of exchanges. For example, a personal property exchange.
All of the funds from the sale must be reinvested. When the client sells the relinquished property, the net proceeds come to the exchange company, and then they must use all of those funds as their down payment for the new property. They can then use cash or get a mortgage to make up the difference. If you don’t use the money, whatever is remaining will be exposed to taxes.
1031 exchanges are only for “big” investors. Any level of investor can do an exchange as long as they’re selling or buying an investment property.
You must hold the property longer than a year before exchanging it. There is no rule or law on how long you have to hold an investment property.
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1031 exchanges only apply to investors.
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If you have any more questions or are interested in contacting Julie, you can reach her at 877-591-1031 or at jtumbaga@orexco1031.com. Thanks and aloha!
Call us at (808) 426-7211 for a FREE home buying or selling consultation
Today, we want to talk to you about Project Hawaii. We want to share how this organization helps our homeless keiki. We support this local nonprofit because it’s a great cause. Here with us today are Megan Patrick and Cliff Kama. They are two of the most dedicated people we know committed to helping our homeless children right here in Hawaii. Project Hawaii is run 100% by volunteers and solely supported by public donations. This organization and events, like their annual summer camp, are in the hands of our community.
This upcoming summer camp is Project Hawaii’s 10th summer educational program. Currently, 24 homeless kids are enrolled in a summer full of adventures and educational experiences. Project Hawaii provides nutritious meals so the kids can learn and grow in a healthy environment. The camp started on the Big Island and is also on Oahu.
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It’s for the kids, cuz!
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If your business would like to be involved, you can be a sponsor for this summer’s T-shirts. Project Hawaii also needs help with transportation costs, admission fees for the Adventures Abound Day Camp, and food sponsors to provide 100% organic meals for the children. We will also be taking part in the Charity Walk 2016. To learn more about the walk, click here.
If you or your company would like to donate volunteers, needed items, or monetary donations, go to www.projecthawaii.org or call (808) 987-6018. All donations are tax deductible. Let’s break the cycle of homelessness by starting with our keiki. It’s for the kids, cuz!
Call us at (808) 426-7211 for a FREE home buying or selling consultation
Today we want to talk to you about what goes on behind the scenes to get your home sold. All in all, we do over 100 different things, but here’s a little list for you to get the gist.
We do a title search. Most Realtors wait till you're in escrow. If there are problems with your title we want to head those off now.
We use a showing service. Potential buyers won’t have to wait for us to be done with our child’s soccer game to schedule a showing. Our service is open 7 days a week 12 hours a day. The service also shares visitor feedback when available.
We prospect for you. Stop by our office between 9 and 11 every day and we will be making calls to get your home sold.
We knock on doors for you. We will literally knock on your neighbors' doors to invite them to your open house.
We call 200-300 of your neighbors. Again, we are inviting them to your open house.
We produce a walk through video tour. 100% of consumers want to see a video tour, but less than 1% of Realtors make them.
We prescreen buyers. We make sure that only preapproved serious buyers are getting to see your home and or write offers on it.
We spend over $20,000 a month on marketing. The National Association of Realtors estimates that the average Realtor spends no more than a car payment per month on marketing. Bottom line, our marketing budget gets more exposure for our clients' properties.
We have a communication guarantee! The number one complaint that consumers have when working with a Realtor is that they never hear from their Realtor once the home is listed. In fact the only time they did was when THEY called their Realtor. We certainly understand the frustration and take a more proactive approach to our communication with our clients. We will call all our clients every Monday to let them know what is going on with your listing. Even if there is nothing to report, we will check in to see if you have any questions or concerns - no chasing us down.
We promote your listing on the radio. We have had Hawaii’s only one hour real estate radio show for three years. We just aired our 223rd show! Our listener’s average household income is in the $100,000 range and we know a lot of Realtors listen in who may have a buyer for your home.
We wrote a real estate book! The reason we wrote one was that we found that it would be a helpful resource for both sellers and buyers in Hawaii. Click here to see our real estate book.
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We do a total of 110 things to sell your home.
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There are a total of 110 things we do behind the scenes for our clients. And remember to listen to us every Saturday at 11AM on AM830 KHVH.
Today, we want to talk briefly about one of our favorite roofing companies! Regardless of what issues you might have with your roof, we highly recommend seeking the help of Ben and Toni of AAA Roofers Hawaii. They do roof inspections, replacement, and repair for both residential and commercial buildings. They are willing to work with insurance companies to ensure your project is affordable and willget any project done in a timely manner! If you need a great local roofing company that does it all, call our good friends Ben and Toni with AAA Roofers Hawaii! Remember, if you don't do your roof right the first time, it's your own asphalt!
Today, we want to talk to you about
homeowners insurance.Bradley Maruyama from Allstate Insurance
is with us to answer a few questions, as there are a few things
that could affect the cost of your insurance. Let's talk aboutflood
zones or flood insurance. What are the different flood zones?
The most common flood zones in Hawaii are V, A, X, D, and Z.The most volatile flood zones are the V
zones. These are located near the coastline and beachfront properties. A zones
are found near riverways, lakes, swamplands, and reservoirs. The most common
flood zone is X, which is actually the most unlikely place to have a flood. D
and Z are zones where flood hazards are undetermined, but still possible.
How do different flood zones affect the cost of your homeowners
insurance? The most volatile flood zones are the V and A zones.Some V zones on the coastline could cost you
as much as $24,000 per year. Your Realtor and loan officer are working very
hard when it comes to making sure you are qualified to buy your dream home.
When your monthly rates go up because of the flood insurance, you might not
qualify to buy your dream home. So, when you're shopping in V and A zones, keep
in mind that the homeowners insurance will raise your monthly payments.
For more information on flood zones visit this link! If you have any questions, please do not hesitate to contact us.If you have any questions for Bradley, you
can give him a call at (808) 591-8016. We look forward to hearing from you!
Kapono R. Kobylanski was born in Honolulu, HI, and he grew
up in Waipahu, HI. He is a mixed plate, and is made up of 10 different
ethnicities including Hawaiian, Polish, Filipino, Irish, Scottish, Portuguese,
Chinese, English, American Indian, and Spanish.
Kapono was fortunate to attend 8 public schools all over the island from
K-10th grade, and then he went to and graduated from Kamehameha
Schools in 2001. He got a full scholarship to attend the University of La Verne
(ULV) in Southern California, where he received a Bachelor’s of Science Degree
with a Concentration in Finance and a Speech Communication minor. Kapono
graduated in the top 7% of his class receiving Magna Cum Laude and Departmental
Honors status.
He started his Finance career working for numerous big-named
companies, and then he became the Financial Analyst at First American Title
Company for six years. On the side, Kapono pursued a
modeling and acting career for a few years, and the pinnacle of that venture
was winning the title of the 6th annual Mr. Philippines USA’09
competition.
While juggling a part-time
and full-time career, he went back to ULV where he got a Master of Business
Administration (MBA) degree with a Concentration in Accounting. Kapono loves
travelling, and he was able to travel across the United States and around the
world. His experiences in life helps him to understand all people he interacts
with. He got his feet wet with real
estate when he bought and sold a home in Rialto, CA.
His mom & family were featured
on A&E’s hit show, Intervention (An EmmyAward-winning Americantelevisionseries), as the first family to be from Oahu, HI
on the show. Kapono was a pivotal person
for getting his family on the show, and they strategically overcame the odds
that were stacked against them (1 out of 4.83 million chance of making the
show per year).
After living in Southern California for about 11 years, he returned home
to Oahu, HI to be near his family and friends back in June 2013. He became the
Accounting Manager for Kalihi-Palama Health Center. Kapono then bought a condo in Makiki (Honolulu,
HI) with his wife, and he is a proud step-father with a healthy baby boy coming too.
After pursuing a successful career in Finance
& Accounting for over 10 years, he decided to follow his passion by
becoming a Realtor. Kapono believes that real estate is the best investment
anyone can make bar none. He wants to help everyone achieve their
dreams through obtaining real estate, and Kapono comes to you with over 14 years of
proven Excellence!
His newest challenge is being a Buyer’s Specialist with
TEAM LALLY of Keller Williams Honolulu. Kapono
positioned himself to work alongside TEAM LALLY, the #1 real estate team in
Hawaii, because he believes you deserve to have unparalleled service with all
of your real estate needs. Kapono brings a professional aloha spirit to all of
his interactions, and he has a deep understanding of the neighborhoods across
the island. His family & friends know him as Pono, and he would be honored
for you to refer to him as Pono. When you work with Pono, you will actually
live PONO and you will experience:
Phenomenalcustomer service
Outstanding communication
Noteworthyneighborhood expert knowledge
Outrageously genuine professionalism
Pono is devoted & delighted to serve you! He is
powered by TEAM LALLY, and they will deliver to you exceptional service in buying,
selling or investing in real estate.
Feel free to call/text him anytime on his personal cell phone at (808)
497-9367 or by email at kapono@teamlally.com.
It's time once again for another jam packed edition of the Team Lally Hawaii Real Estate Show. Today we are covering a lot of topics, including the top 3 things you need to know when getting a VA loan. We are also excited to be joined by Travis Branch to talk about the ins and outs of dealing with the IRS, as well as some ways to save and compound your money. Travis suggests filing your taxes on time - and if not - always having a tax professional to help pay liabilities. We will also be joined by a few of our agents who have some beautiful listings with open houses coming soon. To hear the show in its entirety, click play!
Multiple offer situations are becoming more and more common in Hawaii, so today we want to offer you some tips on how to win them. Here are four ways to make your offer as strong as cash:
1. Let the seller pick the closing date
Whether or not they want to close quickly or have it be delayed, delegating this choice to the seller is a smart way to make your offer stand out.
2. Keep your offer clean and simple
Don’t muddy it up with contingencies or terms. If you want the home when pitted against other buyers, keeping your offer clean is the way to go.
3. Have a good cover letter
A good cover letter can pull on the heart and mind of a seller. Sometimes it’s more than dollars and cents that compel buyers, and we can help you write a fantastic cover letter.
4. Our Love it or Leave it Program
If you don’t absolutely love the home we help you buy, we will sell it for free within 6 months of the closing date. Call us for more details about this.
By following these tips, you will go into your home purchase wielding the knowledge of how to craft a very strong offer. If you have any questions for us at all, feel free to give us a call or send us an email. We look forward to speaking with you!
Jack Legal (President) and Nelso Higa (Director Strategic Development/Government Affairs), of the Honolulu Board of Realtors, discuss how the organization exists for the ethical and professional success of its members.. They also discussed the current issues such as Real Property Tax and its various challenges. They also spoke about how home buyers and sellers should make sure that their agents and Realtors are part of the Honolulu Board of Realtors. Why? This organization makes sure that agents and Realtors are accountable for their actions and well educated on real estate industry.
It's time once again for another edition of the Team Lally Radio Show. Of course we have the latest and greatest information in real estate, from the latest market trends to predictions about the future of interest rates. In addition this, we are also going to be talking about a wide range of topics outside the real estate spectrum, from what your rights are when you get pulled over by police in Hawaii to the finer points of Poke cuisine. We are excited to be joined by the owner of Like Poke,Danny Kalahiki, a former professional surfer who is now a culinary professional cranking out delicious seafood dishes in his lunch wagon. To hear Danny's story, and to get all the info you need to know about the Hawaii real estate market, listen to the entire show here!
Hawaii is such a unique and beautiful place. Being the most isolated island chain in the world,
there is a deep appreciation among its people for the ‘aina (Hawaiian word for land). Growing up in Honolulu, Joshua recognized that trash didn’t just disappear, but that it was destined to
spend the foreseeable future in a landfill, or put on a boat to be sent to the mainland for recycling. This was a tremendous influence on Joshua Rosen’s decision to open a BungoBox franchise on the island
of Oahu. He recognized the need for the BungoBox solution in his home state, which has finite resources and land.
One of the things we have learned is that
good marketing takes effort. One thing we like to do at Team Lally is put
together a VIP open house.
We invite all the neighbors to a special opening. These events
are typically held on Friday evenings between 5 pm and 7 pm. We send out about
300 postcards to the surrounding homes, and then we call all these homes and
personally invite them. On the day of the event, we will knock on some doors
and personally invite the neighbors once more. Our VIP open houses usually feature a wine tasting, and
sometimes, we have live jazz music by our very own Howard Nett. The VIP open house is held in addition to the public open house
on Sunday. The VIP open house is just one of the 89 marketing steps that we use
to make more money for our sellers.
At Team Lally, we believe you deserve the best level of service.
If you are looking for a real estate team that will go to work for you, call us
to book a time and visit us in the office.
"I really enjoyed them helping me. We had a lot of paperwork going on at once, because we were selling a condo, purchasing a house, and doing the 1031 Exchange. They really helped out. I was in California, so there was a three hour time difference. I had a lot of questions, and some were pretty early in the morning for them, but they always got back to me promptly. When we were getting ready to sign the final papers, I noticed that the 1031 Exchange wasn’t on there. I got in touch with Alesia from Team Lally, and she helped me out. I enjoyed working with them, and I would do it again!
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"They were phenomenal! They were very quick to respond to all my phone calls and emails. They gave me great guidance on how to get the house prepped for the open house. We had an offer the first day, and a second offer the next day, and the house pretty much sold itself after that! Alesia Borja was great in the closing process. I had lots of questions because there were so many details that needed to be taken care of in order to close on time. She responded quickly and made lots of phone calls after hours in order to make sure the house closed on time!
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In today's radio show, Adrienne and Attilio are joined by Cindy Perkins from Top Gun Painting. Cindy talks about how she became involved with Top Gun Painting. The services at Top Gun Painting include painting for residential and commercial properties, furniture refurbishment, water-proofing, and more. Cindy explains that they will do anything you need to make your house look beautiful. The versatility at Top Gun Painting is truly what sets them apart from other painting companies.
We're currently in a low inventory market with high demand, which is great if you're thinking about selling your home. However, this does not mean getting a high price for your home will be easy!
We spend over $16,000 a month on marketing, and we put that to work for our clients. The average agent's marketing budget is only the size of a car payment! The bottom line is, we get more people looking at your home than the average agent. Who wouldn't want that?
When you list with us, we make recommendations on what you can do to maximize value. Because of our experience of selling over 100 homes a year, we know exactly what buyers want. Our marketing, plus a low inventory situation, will get your home maximum exposure - and more exposure means a better chance of generating multiple offers!
Once you generate multiple offers, you need to prioritize them by superiority. Remember, the offer with the highest price is not always the superior offer; the amount of money down, financing, and other terms can be just as important! Here are some tips on how to review an offer:
Is the Buyer Pre-approved or Pre-qualified for a Mortgage?
Contrary to popular belief, a seller with a pre-qualification is simply not as good as one that has been pre-approved. It is an important thing to consider when looking at an offer and the difference can easily make or break your transaction. When a buyer has been pre-approved, the lender has reviewed and verified all the important aspects of the financial transaction.
How Much Money Are They Bringing to the Closing Table?
As our marketplace leans heavier and heavier toward a seller-centric environment, the issue of how much down payment they will be able to make will come up more and more. When a buyer has more money down on their purchase, it is definitely a stronger offer than one where the buyers have less at stake. Look for a letter or statement from the bank demonstrating their ability to cover the funds promised as a down payment.
Is There a Contingency To Sell Another Home First?
Many buyers have a home to sell first before they can move forward with a new purchase. In the offer you receive from these buyers, you will likely see a contingency upon the sale of their home. When comparing multiple offers, if one buyer is able to buy your home without needing to sell their home – the chance of other problems or mistakes will reduce significantly.
How Far Out Is the Closing Date?
The ideal closing date is about 45 to 60 days from the date of accepted agreement. When you start getting into closing dates that go out two months or more, there tend to be more problems. A lot can happen in that much time, whether a job change, life change or even a change of heart – so if there is an offer with a closer closing date, that would definitely be the stronger choice.
We hope you found some of this information helpful. As always, we look forward to assisting you with all your real estate needs and, in the interim, if you would like to learn more about today’s hot real estate topics, catch us on Saturday mornings on AM830 KHVH. We look forward to hearing from you soon!
