Posts Tagged ‘ real estate ’

Hawaii HB 2078 Passed – How Does It Change Short Term Rentals?

For many mainlanders and foreign nationals, the opportunity to invest in Hawaii real estate is the perfect melee of business with pleasure. Although for the most part Hawaii is not regarded as a strong short-term cash flow market, its reputation as a stalwart long-term equity market has made it a perennial favorite among those with a comparatively patient investment strategy.

However, it is critical that buyers (regardless of their nationality) perform due diligence and are well aware of any material facts that could reasonably affect their investment. As such, potential buyers and the real estate community had been closely monitoring Hawaii HB 2078 since its initial proposal in January. In a nutshell, this measure sought to require off-island vacation rental owners to use an on-island property manager, with the purpose of ensuring that appropriate taxes are collected on any rental income generated. Current transient accommodation owners and real estate professionals who realize how this legislation would have a negative effect on investment strategies and the sluggish real estate market rallied to form an organized opposition force and through their efforts, HB 2078 evolved through a series of versions (Click here to view) to a more fair measure. Ultimately, HB 2078 HD2 SD2 CD1 passed Final Reading on 05/02/2012 and is scheduled to become effective on 07/01/2012. As passed, this measure will:

“Require the owner of a transient accommodation to designate a local contact residing on the same island as where the transient accommodation is located. Furthermore, it requires that all advertisements and solicitations for transient accommodations on any website display the registration identification numbers.”

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Posted by: Alex Cortez on May 22nd, 2012 under Regional

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Real Estate 360 Live with Louis Cammarosano 3/19/12

On Monday March 19, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:56)

Louis notes that interest rates are artificially manipulated as are the unemployment and inflation rates and that the economy is not good. Louis notes that there is still a lot of debt in the system and until that debt gets flushed out of the system there won’t be much of a recovery. Louis notes that the interest rates are low not for the benefit of the consumers who want to borrow but for the benefit of the banks and the Federal government who need interest rates to remain low.

Louis notes that low interest rates force savers and investor to put money into the stock market and other risk assets as bank deposits pay less than even the official stated rate of inflation. Louis notes that the gold silver and real estate markets are not as liquid. Louis says there is a bubble in the bond market but NOT in gold and silver as gold and silver are not overbought. Louis notes that the average person probably could not name a few gold or silver mining stocks.

Louis also notes that the average person also does’nt have much money to invest. Louis discusses unintended consequences. Louis predicts that central banks will continue to print money-i.e. kicking the can down the road, which eventually is a dead end. Louis notes you can’t solve a debt problem by issuing more debt. Louis notes that central planning and officious intermeddling in the market does not work.

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Posted by: Louis Cammarosano on March 24th, 2012 under Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/27/12

On Monday February 27, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:27)

Louis and Ryan discuss the $5 billion suit against the banks for wrongfully foreclosing on homeowners. Louis notes a moral hazzard is created when companies and individuals are bailed out. Louis notes that when you keep interest rates artificially low borrowers have no incentive to pay off debt earlier and no incentive to save. Low interest rates urge consumption and borrowing. Louis notes that rising gas prices have little to do with speculators or problems in the Middle East but rather the decline in the value of the dollar.

Louis notes that in 1964 a gallon of gas cost $.30. In 1964 a US quarter was 90% silver. Today a 1964 quarter is worth $6.43 (MORE than the price of a gallon of gas-at today’s price of about $4.25 a gallon) a 1964 US dime is worth $2.50, so the  price of gas has gone up less vs the dollar than silver. Ryan notes that Warren Buffet is a stock expert but not necessarily an expert in real estate.

Louis notes that its probable that the local Realtor knows far more about real estate than Warren Buffet. Louis notes that many people believe that Warren Buffet’s views on taxes are somehow more valid because he has made a lot of money in stocks. Louis notes that sadly, the people equate wealth with intelligence.

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Posted by: Louis Cammarosano on March 12th, 2012 under Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/13/12

On Monday February 13, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:38)

Ryan noted that Apple topped $500 a share and the passing of Whitney Houston. Ryan discusses the robo signing settlement with the banks. Louis notes that the banks now have to give back some of the money they received in the bailout.

Louis notes that the low Federal Reserve rates, the Community Reinvestment Act and policies of Freddie Mac and Fannie Mae encouraged excessive lending by the banks which caused the housing bubble. Louis notes that the settlement also involves more money being spent on the housing market. Louis notes that if banks lose money as a result of the foreclosure settlement, they will probably raise fees or interest rates. Louis notes that the onerous regulations that the banks are subject to keep competitors out.

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Posted by: Louis Cammarosano on March 12th, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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HomeGain Blog Celebrates 4th Anniversary

Today is the 4th anniversary of the HomeGain Real Estate Blog!

We’ve come a long way since 2007. Thanks to all of our contributors and readers for their support!

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Posted by: HG Blog Admin on October 24th, 2011 under HomeGain

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Hello Video! – You are Now Part of the Real Estate Marketing Lexicon

I’m an early adopter with all things technology and as an early adopter, I’m keenly aware that there are pros and cons to buying in early. I’m ok with that. Technology changes rapidly and those of us that are early adopters buy the new technology as it comes out. The latest and greatest as they say.

Real estate marketing, however, has not changed too much for most agents. We all take photos, we all list in the local MLS system(s) and we all try to get the best price we can for each and every new listing we take. After all, it’s the price as it relates to condition and location combined with the photos that attract buyers and beget sales. Right? I think that’s true, but I think we need more, better marketing, in light of the fact that traditional resale homes are having to compete directly against somewhat comparable short sales and foreclosures that have spread like a virus across the real estate landscape.

I don’t think photos are enough. In this market, I think we have to make a more compelling case that are listings are better – worth more than the foreclosures and short sales down the street. I think we need video. I don’t mean panning still images set to some cheesy music either. I’m talking about videos that make your listings (and maybe even you) look fantastic. Here’s a video from some guys in Australia that have taken video over the top!

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Posted by: Ryan Ward on August 12th, 2011 under HomeGain, Online Marketing, Technology

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