Team Lally- Hawaii Real Estate

Showing posts with label buyer tips. Show all posts

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!

Team Lally with Travis Wittmeyer of B+G Innovations

It's time once again for another edition of the Team Lally Radio Show! We are joined today by Travis Wittmeyer, President of B+G (Blue and Green) Innovations to discuss important points about home building permits and planning. Travis also shares how he uses sustainable products and services in his business. Press play to hear everything Travis has to say, and tips from Team Lally!

Top 3 Things to Know When Getting a VA Loan

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!

Holy Cow! Multiple Offers Batman! What Now?

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

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!

We Pick up the Phone to Get Your Home Sold - Guaranteed or We'll Buy It!

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 share one of our little secrets with you. We pick up the phones to get your home sold. Not all agents do this. Here are how homes are sold, per the National Association of Realtors:

1% from open houses
20% from for sale signs
40% from agents picking up the telephone and following up with buyers

Our team makes over 100 outbound calls a day to get our clients' homes sold. Many people make the mistake of thinking that all Realtors are the same. If that were true, all Realtors would get the same results. We sell over 25x the amount of homes than the average Realtor.

Thanks, and Aloha!

Is Now the Time To Buy in Hawaii?

Looking to buy or sell a home in Hawaii? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation to see what buyers will pay for your home in today's market. You may also call us at (808) 426-7211 for a FREE home buying or selling consultation to answer any of your real estate questions.

This week, Team Lally had a chance to listen to the chief economist for the National Association of Relators at the Ihilani Resorts - and he had a lot to say.

He had some good news for home buyers and homeowners as far as mortgages are concerned. There will be changes made to how FICO scores are calculated, which will make it easier to keep your score high. If you miss a payment but get caught back up, your score won't be as damaged as it would have been in the past.

The Federal Chairman also said lending guidelines for Fannie Mae and Freddie Mac will be loosened. This will make it easier for borrowers to qualify for mortgages. Additionally, he mentioned that the federal funds rate, which affects mortgage rates, may be raised as soon as the first or second quarter of next year. This means the rates we're seeing now are a pretty great deal.

The chairman also said rental rates are rising 3% to 4% nationally. Here in Hawaii, rentals are bit tight, so we think we'll see rates rise higher than the national average.

All in all, it looks like now is the time to buy. Since interest rates are the most important factor in being able to afford a home, you should lock in a rate now while they're favorable.

If you are interested in making your move soon, don't hesitate to reach out to us. Our Love it or Leave it Program keeps you protected - if you don't absolutely love the home you buy with us, we'll sell it for you for free! If you want to work with someone who will develop an organized approach to finding the perfect home, we're your team!

"Should I wait to sell my home in Hawaii?"

Looking to buy or sell a home in Hawaii? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (808) 426-7211 for a FREE home buying or selling consultation to answer any of your real estate questions.

Many homeowners are waiting for the price of their home to go up before they sell. What people don't realize is this will not ultimately result in a higher profit. This is because:

Other home prices will rise as well, which means your next home will be more expensive.
Interest rates will also rise if you wait too long to put your home on the market. Higher interest rates may completely eclipse the extra value you get from your home sale by waiting.
If you are looking to build a new home, the price of construction will also have risen in the time you waited.

It may not be the best decision to wait for home values to rise. Rather, the best move you can make is to begin work on getting your home in the best possible condition and putting it on the market at an attractive price. By doing this, you can generate multiple offers and get top dollar for your home without having to wait. You need to make your move before prices and interest rates go up - waiting will only hurt you down the road.

If you are interested in selling or buying a Hawaii home or want further advice on how to take advantage of ideal market conditions, please give us a call or shoot us an email.

Also, we want to remind you of our 9th-Annual Client Appreciation Party on August 24th. There will be thousands of dollars worth of giveaways, food, drinks, photobooth, games for the whole family and much, much more!

We will also be collecting donations for Women in Need (WIN), a very unique nonprofit organization that empowers individuals who have been through domestic violence, homelessness, substance abuse and incarceration. In addition to monetary donations we'll also be accepting Living Necessities (Clothing, Baby Supplies, Household furniture, Small furniture or Toiletries).

We would love to see you there, so click here to RSVP!

Hawaii Midyear Real Estate Update PLUS a Very Special Invitation for All Our Clients!

We have witnessed some unexpected trends recently that we thought we should share with you. According to a report on CNN Money, interest rates are dropping to around 4%, the opposite of what was predicted by many analysts. We were expecting rates to steadily rise throughout the year, but this hasn't materialized in most markets.

Our market is currently slow but balanced. We aren't seeing the flurry of activity typical of the spring time. There are probably still more buyers than great homes but, with more and more homes becoming available, we are moving toward a more stable market. In the spring, if you had a nice home at a nice price, you probably received multiple offers. Now, as the market becomes more balanced, you will probably have to work a little harder to make your home attractive to buyers.

By working with a professional home stager and photographer, you can get your home to the top of the list of many buyers. We offer these services. as well as a professional video tour of your home, to clients who list with us for one reason: these techniques work. So, if you're thinking about selling your home, don't simply hire us, interview us. We want to meet with you and give you specific advice on what YOU can do to make your home attractive to buyers.

Also, we want to take this time to extend to you an invitation to the 9th annual client appreciation party, which will be on the 24th of August. We would love to see you there, so click here to RSVP!

Are Zillow and Trulia Really Giving You Accurate, Updated Information?

Aloha! If you've used sites like Zillow or Trulia to search for a home, we've got some information for you! Online home search tools that operate outside of the Multiple Listing Service, or MLS, do not receive updated, current information.

Here are 3 things to look out for when using non-MLS sites:

Properties listed for sale - Many properties on these sites may have sold months ago. We know how frustrating the search can be to find the perfect home - discovering your dream home only to find it's no longer for sale is unacceptable.
Correct information - People are finding that details such as lot sizes, home interior sizes, and the number of bedrooms are often inaccurate. This will pose a challenge when trying to find a house that meets your needs.
Home evaluations - For cookie-cutter neighborhoods, Zillow and Trulia may give you a pretty close estimate. However, if you are looking for a property with unique characteristics, it's hard to get an accurate evaluation of its value. Visit our site for a more accurate price range, Hawaii.GuaranteedSale.com.

Those are 3 pretty compelling reasons to call your local agent to get accurate and up-to-date real estate information. It's important to know that non-MLS sites have no validation of accuracy, whereas Realtors who contribute information to the MLS can fined up to $300 for providing incorrect or inaccurate information. This gives us an incentive to provide the best information possible. Realtors also take all the factors into consideration, including the direction the market is going, to give you a proper price range on your home. Sites like Zillow and Trulia just cannot reproduce that level of expertise and in-person evaluation of your home.

As always, we are here to help you with your Hawaii real estate needs. If you're looking for help without the high pressure sales tactics, we'd love to hear from you. We want to make sure you move at your own pace and make the best decisions for you and your family. Just give us a call or shoot us an email, we'd love to help!

Low Ball Offer Gets Buyer Kicked to the Curb

Looking to buy or sell a home in Hawaii? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (808) 426-7211 for a FREE home buying or selling consultation to answer any of your real estate questions.

Everyone wants a good deal on a home, but making an offer that is too low can get you axed by a potential seller. There are times when you can leverage your position and ask for a low price, but you need to know when you are able to do this.

For starters, figure out what type of property you're working with. Is it a short sale? A bank loan? A distressed property? (A distressed property is when the seller is behind on their mortgage payments)
Next, find out what the competition looks like. If the property is hot and receiving multiple offers, your lowball offer will immediately be thrown off the table and you will be forgotten about. It's important to stand out to the seller, but not by offering a low price. If you want to go lower with an offer, make sure you have a valid reason for doing so.
Do your Research: Scour the area and figure out what similar homes sold for. Also, look at current listings to find what active listings are going for on the market. Appraisers look at these types of numbers to determine value, and you have access to these same resources as they do. (Our buyer agents at Team Lally are experts with this and can be very helpful with this step)
Include a Pre-Approval Letter: This will signify to the seller that you will be able to pay for the home, and that you are very serious about purchasing it. Most sellers will not even let you in the front door if you are not pre-approved or do not have proof of funds.

Hopefully this information was helpful to you, but if you have any further questions or are looking to buy or sell in Hawaii, then please contact us. You can reach us at (808) 799-9596 or visit our website: www.TeamLally.com

Also, don't forget to catch our radio show, the Team Lally Real Estate Show - Home of the Guaranteed SOLD Program or We’ll Buy It - every Saturday at 11AM - 12PM on KHVH 830 and KIKI 990. If you are interested in learning more about buying or selling real estate in the Honolulu area we have a free book available online. To receive your free book please visit http://www.teamlally.com/book

To get your free book all about Honolulu Real Estate written by Adrienne and Attilio click here!

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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!"

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