I recently listed a single-family home. We had over 70 showings and 11 offers. 9 of the 11 offers were above list price. Sounds easy, right? Well, not really.
Prior to listing, our client spent months prepping the property for sale. In addition to general home maintenance, our client had to meet with his attorney and financial advisor. Even though the market is hot, it was important that he knew the tax implications of the sale.
In addition, our seller took the time to survey the property before we listed and he filled out the disclosure statement too. Having this information was extremely helpful, especially to the prospective buyers. Although it took some a few drafts to fill out the disclosure statement, our seller had no issues in filling out the document since he kept accurate home maintenance records of the home. Most importantly, if the buyer has disclosures during the time of their showing, the buyer can make a more informed decision if he/she wants to submit an offer or not.
If you are a homeowner, one thing you should consider is to keep detailed records of your home maintenance. In addition to keeping all your receipts, it might be beneficial to write down what the repair/replacement entailed.
Details are super important. For example, many homeowners repaint their home prior to selling. If the next owner has to touchup paint, he/she would want to know the paint brand you used, the paint code, and the paint sheen. That way, the next owner can accurately match the paint. Documenting this does not take much effort at all. Plus, putting in the effort to log your repairs will make it a lot easier to disclose those items when you eventually sell.
JUST SOLD
Greg, Robin, and I recently closed on a Windward Property. Our clients were first time homebuyers. The unit was fully remodeled!
This 3-bed home featured new paint, appliances, flooring, and more. More so, the craftsmanship was great. Since our clients have busy schedules, they preferred to purchase a turnkey home.
Since inventory is still low, we were faced with a multiple offer situation. Due to our competitive market, our clients submitted a very strong and clean offer. Thankfully, the sellers decided to work with us. They even complimented us on our cover letter too.
Home Maintenance
Summer is here and it has been HOT! If you have not already done it, but it might be beneficial to clean your AC filter. Personally, this is something I do twice a month.
Make sure you read your appliance manual. However, I use a microfiber cloth to take out the bulk of the dust. Then, I will wash the filter under some warm water. I will air dry and reinstall the filter.
Dirty AC filters can make your AC less efficient. This could cause AC to not operate properly and it could lead to an increase in your electricity bill.
Ramblings
New Development
The Park Ward Village recently released renderings of the units. The 41-story condo will have 546 market-rate units at various price points.
Koa Ridge recently had another release. These were detached, single-family homes. Castle & Cooke cannot build these homes fast enough. The homes are selling like hot cakes!
Microsoft
Pacific Business News recently reported the late Paul Allen sold his Kona estate for a whopping $43 million. This was the second highest priced home to ever sell in Hawaii.
Stay safe and healthy.
-Roda