Welcome to Paradise!

Honolulu, the Hawaii State capital and official municipality of Oahu, has a cosmopolitan and multicultural population of about one million residents. Located on the third largest and most diverse of the Hawaiian Islands, Honolulu offers incredible living in a world all its own. Whether you come for the countless business opportunities provided by the metropolitan district or you are in search of the ideal location to raise your growing family, look no further. Between the pristine Pacific Ocean shores and the ridges of the Ko’olau mountains, the communities of Oahu welcome you with open arms.

For centuries, the culturally rich region of Oahu has been known as "The Gathering Place" - a place where everyone can feel at home. Recreational beach parks, golf courses, and botanical gardens abound, and special events such as hula and cultural food festivals, Lei Day celebrations and outrigger canoe regattas color the experience of our unique environment. A nature lover's playground and a history buff's delight, this paradise is both an athlete's turf and a businessperson's domain. The list of opportunities and possibilities is literally endless.

As a long-time resident of this beautiful region, I can help you explore the great real estate opportunities that Honolulu has to offer. Whether you are a first-time buyer in search of the perfect home, or an experienced investor, I will successfully guide you through the exhausting process of buying and selling real estate.

This premier Hawaii real estate online resource comes complete with an advanced property search tool, important area information in my Blog, as well as successful Buyer and Seller tips, Luxury Property information and the latest Real Estate news.  So, join us on the island of Oahu, and embrace the great diversity of our people. Cultivate your inner soul and experience the ultimate paradise!

To learn more about the island of Oahu and the communities of Honolulu, please contact me today.  I look forward to meeting you. 

Jennifer Lee Busto, Ph.D.
REALTOR®, Certified Residential Specialist
RB-20651

Coldwell Banker Pacific Properties
1314 S. King St., Second Floor
Honolulu, HI 96814

Cell: +1-808-864-2504

Email: Jennifer@JenniferBusto.com

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you about your current real estate goals.

 


 

 


 

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Testimonials

Jennifer Busto is simply the best person, agent and friend that I found from your company. She is a credit to her profession and to your company. My wife and I can not thank her enough for all she has done making us feel welcome and advising us in our time of need. We love her dearly and thank her for all she has done. Jim and Xing Warneck, Home Buyers and Sellers 2017
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Blog

February Sales on Oahu

February Sales on Oahu showed an increase in the median sales price across the island for both single family homes and condominiums. Properties typically are in escrow within a month, although homes in the luxury market ($1.5M and higher) typically take ... Read more

Real Property Tax Exemption Deadline

Attention Homeowners! If you have not filed for an exemption to which you are entitled, your deadline to file is FRIDAY, September 30th. Here is the link to file https://www.realpropertyhonolulu.com, and you must know your Parcel ID # [aka Tax Map Key (... Read more
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Honolulu Real Estate: The Coconut Wirele

Thinking of purchasing a home or selling your property?


Are you considering a move to Honolulu?


Check here for posts about neighborhoods on Oahu, for mortgage and financial information, for statistics related to our real estate market, and articles of importance to you as a homeowner!


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Would-be to Should-be

Some would-be buyers have emotional reasons to own a home like having a place of their own where they can raise a family, feel safe and secure and enjoy their friends’ company. Other buyers’ dominant reasons might be financial in nature such as building equity or lowering their cost of housing.52407681-250.jpg

Regardless of what might be motivating people to want their own home, it is easy to justify that now is a good time to purchase. Let’s look at a $250,000 example using a FHA loan.

The total payment will be about $1,835 dollars a month. If the payment is lower than the rent a person is paying, that should encourage a person to continue investigating.

In this example, when you consider the monthly principal reduction, the monthly appreciation and the tax savings, even with money added for monthly maintenance, the net cost of housing is less than half the total house payment.

Considering all those advantages, the would-be buyer is spending over $1,100 per month more to rent than it would be to own. In a year’s time, they would lose close to $14,000 which is more than the down payment of $8,750 required on this price home.

Most would-be buyers understand that a home is a big investment but they may not understand the advantage of the leverage caused by the low down payment mortgage. The benefits extend beyond a return on the down payment but to the value of the home.

In this example, the $8,750 down payment grows to an equity of $73,546 in seven years based on 2% annual appreciation and normal amortization on a 30-year loan. If you calculated that as a rate of return, you’d be challenged to find anything that could compare with it.

rent vs own 2017.png

To see what your numbers might look like, check out this Rent vs. Own. If you need any help or have any questions, contact us. Part of our greatest satisfaction is helping would-be buyers understand why they should-be.


An Alternative to Paying Tax Today

The cartoon character Wimpy would say that he’d gladly repay you Tuesday for a hamburger today. Some real estate investors say a similar thing to Uncle Sam to be able to hold on to their proceeds from the sale of an investment and agree to pay the tax later. exchange.png

The benefit of a 1031 exchange is that it allows the investor to defer the tax due from the sale into the replacement property. This allows more money to be reinvested. In the example shown, the investor has 27% more to invest now by deferring the tax into the future.

The property to be exchanged must be like-kind which means real estate for real estate.   Rental property can be exchanged for other rental or investment property.  Personal-use properties like a first or second home are not eligible for exchanges.

There are some critical dates that restrict the validity of the exchange. The investor must identify the replacement property within 45 days of the sale of the relinquished property. The replacement property must be closed within 180 days of the sale of the relinquished property.

  • The replacement property must be equal to or greater in value, equity and debt than the one being relinquished.
  • All net proceeds must be used in acquiring the replacement property.

There are specific rules involved in constructing a valid tax-deferred exchange. There are three professionals that should be involved: a tax advisor, a real estate professional and a qualified intermediary who will assist in the acquisition and transfer of both the relinquished property and the replacement property. Additional information can be found in IRS Publication 544.


Lower the Rate - Deduct the Interest

Credit card debt in America is back to levels prior to the recession. The average credit card APR is just under 16% according to CreditCards.com Weekly Credit Card Report.  33967393-250.jpgHomeowners have an advantage over renters when it comes to getting their arms around debt issues.

Basic money management suggests that higher rate debt be replaced with lower rate debt. Credit cards, personal cars, boats, motor vehicles and other personal property, typically have interest rates higher than that of real estate loans.

Borrowing against a person’s home usually provides the lowest rate of financing. Refinancing a home mortgage to take cash out to retire personal debt is one option. Another would be to secure a home equity or HELOC, home equity line of credit.

An alternative advantage of borrowing against one’s home is that the interest may be tax deductible unlike the interest on most personal debt. Qualified mortgage interest includes acquisition debt which can only be used to buy, build or improve a principal residence and up to $100,000 of home equity debt which can be used for any purpose.

Managing money is a critical life skill that people need to master. While the goal may be to become debt-free, paying the least amount of interest possible can be a good first step. Owning a home provides an asset that allows for options not available to tenants. Seek professional advice to determine your best course of action.


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© 2017 Jennifer Busto, REALTOR® RB-20651.
All Rights Reserved.

© 2017 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are service marks registered or pending registration owned by Coldwell Banker Real Estate LLC. Real estate agents affiliated with Coldwell Banker or Coldwell Banker Residential Brokerage are independent contractor sales associates and are not employees of Coldwell Banker or Coldwell Banker Residential Brokerage.