Saturday, April 1, 2023 / by Ron Margolis - The Margolis Team
If you're considering purchasing property on Kauai, it's important to understand the unique assessment process for taxes.
One important tip: Head over to the property tax department and apply for a homestead exemption after purchasing your property. This is a fantastic way to save on taxes while enjoying Kauai. Make sure you file your application before the deadline of September 30th!
As a Kauai homeowner, understanding your property is classified and
taxed by the county or tax department is important. You should know that if renters reside in your home, irrespective of its zoning status, you will be taxed at the "commercialized home use" rate. This has nothing to do with whether or not the planning department approves it as a multi-family dwelling. It's simply how the tax basis is determined.
Unlike in some states where properties reassess at the sales price, Kauai assesses based on comparable properties, with the county reserving the right to be within 20% high or low. This cs ...
Wednesday, March 29, 2023 / by Ron Margolis - The Margolis Team
It is essential to understand that not all houses in Hawaii are connected to water treatment plants. Therefore, two systems are presently used in the state - the cesspool and septic tank.
To help get you more acquainted with the wastewater system in the Garden Island, we have formulated a list of regularly asked questions that will be useful as you look into buying a property in the area.
WATCH ?? Cesspool And Septic System In Hawaii:
What You Need To Know
[00:00:03] Introduction: Hawaii wastewater system
[01:08] When am I required to upgrade my cesspool?
[02:30] How do I find out if my building permit has been approved by Dept. of Health?
[02:46] How do I apply to install a septic system?
[03:20] How often should I pump my septic tank?
[03:44] How do I know when to pump my cesspool?
[04:22] How do I know where my cesspool or septic system is located?
[04:41] Why is my septic system not approved for use by Dept. of Health, but I received a CO (c/ ...
Wednesday, March 1, 2023 / by Ron Margolis - The Margolis Team
The current real estate market on the island of Kauai shows sales are picking up. If you want to invest in this beautiful location, know more about the trends and take a closer look at the numbers.
Since January 2023, the residential real estate market in Kauai has been
yielding, with properties selling at 10% more than their list price. The reason behind this phenomenon is the low inventory in the market. However, this has led to a steady market. As a result, it is an excellent time for buyers to take the plunge and make a purchase. Buyers can leverage this opportunity to negotiate a 2-1 or 3-2-1 buydown with the seller, secure financing, and request a credit to pay their interest rates until rates become more favorable.
A condominium in Kauai County has reached approximately $1,000,000;
finding anything below this price point can be challenging. Nonetheless, condo prices are still on the rise due to limited availability. In particular, the Lihue district is facing a shortage s ...
Tuesday, January 17, 2023 / by Ron Margolis - The Margolis Team
Living in the Aloha state of Hawaii is a dream for many.
The Margolis team founder Ronnie and his wife, Gwen, have been happily living on the island of Kauai for 17 years. His passion for quality living and realty inspires him to help many people find their dream properties.
As we've entered a new year, the market is continuing to decelerate, and there are fewer real estate buying transactions. Prices have mostly stayed the same in the islands, certainly on the neighboring islands, Kauai, Maui, and the big island, because of the continued lack of inventory.
The good news for buyers is: you don't have a lot of competition out there, and there are more things to choose from. The inventories for real estate in Hawaii are rising, albeit slowly. If you're looking for a place — whether you're coming here to retire or searching for a great vacation rental property, it's an excellent time to BUY NOW. The interest rates if you're getting a mortgage are still fluctuating. Often ...
Tuesday, January 19, 2021 / by Ron Margolis - The Margolis Team
If you’re thinking about selling your home anytime in the near future, today I want to offer some advice. Here are seven critical home-selling mistakes that you should avoid if you want a smooth, successful, and less stressful home sale:
1. Picking the wrong agent. Pick someone with experience who knows the market and has comprehensive marketing knowledge to highlight your property in the best light. You also want someone who is a great communicator, not only with you but also with other agents.
“You’ve got to be level-headed as a seller.”
2. Overpricing the property. Consumers are more savvy these days than ever. They can get all of their information online to get a much better idea of what your home is actually worth. If it’s overpriced, they will know and many may not even come and look at the home. That may lead to a stale listing which can lead to lower offers and price adjustments.
3. Only considering the highest offer. The ...