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| Issue 392 | September 7th, 2010 |
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| Aloha ,
In this newsletter:
REO Properties
Short Sales |
Effortless Luxury
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One of the biggest fears for distressed homeowners that want to sell their property via short sale is the tax consequences. For example, if you owe $500,000 and sell your home for $400,000, do you have to pay taxes on the $100,000 difference? According to the IRS, for debts forgiven in calendar years 2007-12, up to $2 million of forgiven debt can be excluded from the obligation to pay income tax ($1 million if married filing separately). This applies only to your principal residence. Click on link below for an interesting article from Benny Kass, Attorney of Inman News. If you are underwater and are interested in selling your house by way of a short sale, feel free to contact us by e-mail, or call us at 808-572-0866. This is a great option to save you money and the potential liability of a foreclosure. My first recommendation would be to contact your lender directly to see if you are able to do a loan modification before selling your home via short sale.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for September 6th, 2010
| Active | Pending | Sold | Change | |
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| Homes | 839 (321) | 221 (27) | 831 (108) | NC |
| Condos | 1321 (232) | 271 (11) | 1098 (170) | -16 |
| Land | 591 (167) | 28 (9) | 137 (15) | +3 |
| Total | 2751 (720) | 520 (47) | 2066 (293) | -13 |
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1. The numbers in parentheses reflect the number of listings over $1M |
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Short Sale. Spacious 5,071 interior sq. ft. Wailea Fairway Estates remodeled ocean view golf
course residence situated on 14,451 sf of land across the street and only steps
to beautiful white sands of Ulua Beach. Amenities include large bedrooms,
expansive living room with high ceilings, wood flooring, family room with wet
bar, office loft, spacious lanais, pool, spa and attached ohana for guests, maid
or entertainment.
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 279 Pukalani Street Pukalani $375K (FS) |
Short Sale. Just over a 1/2 acre ocean and mountain view, fenced and gated residence, walking distance to Pukalani Golf Course and Foodland. 3 bd. 2 bath main home with an additional 2 bd. and 3/4 bath 480 sq. ft. detached ohana.
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Bank Owned. Wonderful ocean views from this single story home. House was a 3 bedroom 2 bath home which has been modified to consist of a 2 bedroom 1 bath main living area with an attached 1 bedroom 1 bath ohana with a 2 car attached garage. |
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 2770 Kolepa Place Ka'anapali $849.9K (FS) |
Bank Owned. Great location in the Royal Ka'anapali Estates. 2770 Kolepa Place is situated at the end of a quiet cul-de-sac and has golf course frontage on the 14th fairway of the Ka'anapali Golf Course. This beautiful split-level, 5 Bd. 5 Bath residence contains 4,800 sq. ft. of living space and a 3-car garage.
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Short Sale. This residence is located in a quite cul-de-sac offering panoramic island and ocean views from the second story master suite and large lanai. High beam ceilings, private tropical gardens and large pool pavilion, offer privacy and comfort, with an old Hawaiian ambiance. |
Ho'olei G-6
Wailea $2.295M (FS) |
Ho'olei G-6 is one of two very unique Hibiscus villas positioned directly over the pool area. This is the largest, and most highly sought after floor plan in the entire neighborhood, consisting of an expansive 3076 feet of interior footage. With the covered lanai areas and attached garage, this villa is over 4,300 sq. ft. Relax with the comfort and ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand alone home. |
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Short Sale. Wonderful ocean views from your ground floor corner unit at Papakea. This is a fee simple property and has been totally renovated with new appliances, paint, carpet, furniture, and more. Unit is in Aston Program and does well and Seller has to move it quickly.
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Beautiful panoramic ocean and island views as well as mountains and golf course from the living room, bedroom and large lanai of this all one level unit. This unit is parking lot level with no stairs to climb and is located in a building at the highest point of the Kapalua Golf Villas. Also available as a 50% interest for $299K.
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Drastic price reduction in the lowest priced Hololani beachfront condo. Newly remodeled and well-maintained, this spacious second floor unit offers amazing ocean views and whale-watching from your private lanai.
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 Iao Parkside 41-206 Wailuku $199.9K (FS) |
Bank Owned. This 2 bedroom / 1.5 bath unit is centrally located close to restaurants and business offices in Wailuku. Complex has an on-site manager, pool, BBQ area, covered parking, and a secure entryway. |
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Short Sale. An architectural masterpiece. This residential condominium development evokes more of a contemporary interpretation of Hawaii’s architecture. This exquisite one level, 3 bedroom, 3. 5 bath home offers unparalleled 180 degree Ocean and outer Island Views from every part of the house. Situated on over 10 acres of tropical grandeur. Homes are designed to hug the contour of the landscape to create a sense of privacy. |
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