by Dan Polimino | Feb 12, 2010 | Buying, Financing, Hawaii Real Estate, Investing
So you are sitting on the sidelines right now missing out of the $8000 First Time Home Buyer Tax Credit because someone at the bank told you that your score was not good enough to buy right now. The banker probably did not provide much more information other than you “need to fix your credit and pay your bills on time” if you want to buy a house.
by Dan Polimino | Feb 5, 2010 | Buying, Financing, Hawaii Real Estate, Investing
Sure, as a new home buyer you are going to get your $8000 tax credit for buying a home (provided you close before the deadlines) and you will begin to “itemize” your tax deductions (real estate property taxes, mortgage interest, and points) going forward each year. All of these can potentially save you allot of money on your federal taxes which one of the many reasons people chose to buy rather than rent.
by Dan Polimino | Jul 6, 2009 | Investing
Some economic observers are predicting another wave of foreclosures later this summer or in the fall. That’s because lenders that have held off on foreclosures as part of President Obama’s plan will now move forward aggressively to clear the backlog of troubled mortgages.
by Dan Polimino | Jun 1, 2009 | Hawaii Real Estate, Investing, Luxury Market
Quick Answer: Owning a second home or vacation rental on the Kona-Kohala Coast involves significant financial risks, including potential market downturns, unexpected maintenance costs, and the personal consequences of financial distress if not managed carefully. While...
by Dan Polimino | Dec 5, 2008 | Investing
Quick Answer: Owning a second home or vacation rental on the Kona-Kohala Coast involves specific tax considerations, including Hawaii’s General Excise Tax (GET) on rental income, property taxes that vary by county, and potential capital gains taxes upon sale....
by Dan Polimino | Nov 15, 2008 | Investing
Quick Answer: New efforts to standardize short sales, led by the Federal Housing Finance Agency (FHFA), aim to streamline the process with common applications and timelines, potentially making it a more predictable option for Kona-Kohala Coast luxury homeowners facing...
