Team Lally- Hawaii Real Estate

Showing posts with label Hawaii real estate real. Show all posts

What If Your Home Is in a Flood Zone?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call us at (808) 426-7211 for a FREE home buying or selling consultation

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 about flood 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!

Will the Hawaii Real Estate Market Shift?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call us at (808) 426-7211 for a FREE home buying or selling consultation
Are we in a seller's market or a buyer's market? Is a shift on the way? We'll answer those questions for you today.
First of all, a seller's market exists when there are more buyers than sellers, inventory is low, and homes are selling quickly, often gathering multiple offers. A buyer's market exists when there are more sellers than buyers, demand is low, and supply is high. In this situation, buyers are able to negotiate aggressively. Keep in mind that results vary from area to area.

The median price for homes in Oahu in 2005 was $590,000; in 2011, it was $575,000, and today, the median price is $710,000. We don't think prices will fall, but the rate of appreciation may decrease.
Right now, we are in a seller's market. Inventory is low, and most of our listings get offers right away. We sell hundreds of homes every year, and this volume of activity gives us a better view of the market than an agent who only does a handful of transactions each year. The best time to sell is when inventory is low, and it is right now.
If you want a free market analysis on what your home is worth, give us a call or send us an email. We look forward to hearing from you!

Oahu Housing Crunch Eased by ADU's

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call us at (808) 426-7211 for a FREE home buying or selling consultation

Today, we want to talk to you about accessory dwelling units, or ADU's.

The Honolulu City Council approved a bill on September 2 that allows for ADU's. An estimated 20,000 Oahu homeowners will soon be able to create secondary housing units on their properties.

Mayor Caldwell is expected to sign the bill shortly. Proponents say this will address the housing rental crisis here on Oahu. This is part of the mayor's plan to create Ohana housing open to more than just family members.

Many of these ADU's will fall within an affordable range. The department of business economic development and tourism estimates that Honolulu's population will grow to more than 1 million people by 2030, which is an 11% increase. ADU's provide extra living space as our population grows.

This change in law should create a low-cost way to facilitate private sector development without costly government subsidies or investment. This bill represents one of the most significant pieces of housing legislation in years.

If you're interested in ADU properties, give us a call or send us an email. We look forward to hearing from you!

Team Lally Interviews Momi on Outreach in the Community

Every week, Team Lally is committed to bringing you the latest in real estate news and the latest real estate strategies through our radio show. We have a very special show today with some very special guests, and we can't wait for you guys to take a listen.

First, we will be joined by Jim Owens of Hawaii VA loans who is going to talk to us about how he and his company make the loan process as simple and stress-free as possible for VA loan home buyers.

Next, our property management specialist, Duke Kimhan, will join us to discuss what's happening in the property management area of the market. Duke also discusses his 30 days or less rent guarantee, where he will pay your rent if he doesn't find you a renter within 30 days.

Then we will be joined by Momi, a former school teacher turned publisher, who will talk to us about her magazine and the type of impact it has had on her community.

Finally, some members of our team will call in to give you the latest rundown on every segment of the market, so you are completely informed on what's happening in Hawaii real estate.

To get all of this information and more, click here (insert link to show) to listen to our show!

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Team Lally Testimonials

Genette - "We bought one house and sold that with them, and then bought the current house that we're in, and now we're selling this one. We always had a good experience, so when it came time to sell this one, really we didn't give it a second thought. We just called Ray Wolmers, who we've worked with before, and just got him on board right away. It just seems like with everything they handle every detail, and I love the "team" concept; that there's always somebody who handles everything. They never miss a detail. We did have one instance with our original house where we had the termite inspection, and they actually found termites. We had to have the house tented as that was just one of those where I was so glad they handled all the details for us and got it taken care of. They got it scheduled when we needed it scheduled and found a good price for it. It was just amazing. I wouldn't even consider another realtor here in Hawaii, because they handle everything and they're very professional. They just have always taken care of everything."

Maurice - "My results were very positive. Team Lally was very efficient and always kept me informed during every step of the process. I was never left in the dark wondering what was going on. She worked in the middle between myself and the escrow company or the lender and really just was my point of contact. She would explain any questions I had about the paperwork and kept me informed of what they needed from me. They really did a great job and I appreciated everything they did! "

Peter - "I had been looking at the search function on their website and then Cherie got in touch with me. We started scheduling houses to look at and as soon as I found anything I liked, she would schedule it immediately. She was always able to meet my schedule and willing to drive all over this island to find my house. The whole process went very smoothly! "

Paul - "Team Lally was really helpful and great to work with! They worked to my needs in what I was looking for and were very good at identifying houses that would be a good fit for us. Cherie, our agent was very patient and kept the same enthusiasm from the day I met her through the very last house we ended up purchasing. It was like a breath of fresh air with her professionalism throughout the entire process."

Shawn - "One person that really stood out to us during the whole process was Keli’i. It’s definitely a seller’s market here in Hawaii so houses are on and off the market very quickly. We expressed our frustrations about that with him and that night he was emailing us with prospective houses and times we could go look at them. He really took the initiative and reached out to us. I would recommend Team Lally fully."

Eric - "We had good results when we worked with Team Lally. Our first buyer unfortunately bailed out but it wasn’t for a lack of trying from Team Lally. They put in a lot of effort with their marketing and the exposure of the property. It was all great and they had really good customer service! "

Ryan - "I’ve worked with Team Lally twice now. I’m in the military and was stationed in Hawaii so I reached out to Team Lally to help me buy a home. They were helpful and we found a place quickly that I was happy with. After a few years I had to move for the military and plenty of times Adrienne was able to step in and helped me out when I needed someone to watch the house or find a renter. I didn’t want to rent it because I was coming back maybe 5 months later so Adrienne went out of her way to find someone that was trustworthy to stay there to watch my house and my dog until I came back. They were very understanding of my needs and able to find exactly what they could do to help me. "

Benito -"We were able to get into a house quickly, and it was a pleasant experience. Our Realtor, Kailyn, was constantly checking up with us. When we started to close, she made sure everything was done on time. On top of that, after we had moved in, the marketing manager came to the house to congratulate us. He brought us some gifts, too. I thought that was really great!"

Phil -"We bought a home and sold a home with them. Both experiences were excellent. They helped us with everything we didn’t understand. When I was looking to purchase a home, Adrienne herself picked me up and drove me around to look at homes. She was at our call whenever we wanted to look at a home!"

Brendan -"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!"

Geri -"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!"

Have a Question? Ask & I'll Answer It With A Video

What If Your Home Is in a Flood Zone?

Will the Hawaii Real Estate Market Shift?

Oahu Housing Crunch Eased by ADU's

Team Lally Interviews Momi on Outreach in the Community