January 2013

Found 2 blog entries for January 2013.

2012 in Oahu Real Estate went on record as one of the strongest seller's markets in a long time.  The median home price for at the end of 2012 was $620,000, up 7.8% since last year, while condos were at $317,500, up 5.8%.

A year ago, Oahu median home prices were just $575,000, and median condo prices were at $300,000.  The number of sales increased as well, up 6.5% or homes and 8.2% for condos compared to all of 2011. Hawaii house

The main factor driving up prices is the lack of inventory, with only 2.5 months of home inventory in Oahu. This led to sellers receiving an average of 97% of their asking price in 2012, as compared to 95% in 2011.

But most people want to know where the market is going in the future, not where it was in the past.  What will 2013 look

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Many people don't realize that Obamacare contains a new 3.8% tax on real estate sales.  

It won't effect most people, but it will effect those with upper income.  Add up all of your income from every possible source, and if that total is less than $200,000 ($250,000 on a joint tax return), you will not be subject to this tax.

From NAR: 

  1. The 3.8% tax will never be collected as a transfer tax on real estate of any type, so you’ll never pay this tax at the time that you purchase a home or other investment property.
  2. You’ll never pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.
  3. If you sell your principal
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