Robbins Real Estate Report: Why You Should Vote No to the Proposed Education Tax

By , November 8, 2018

Why You Should Vote No to the Proposed Education Tax

* Note that the Hawai’i Supreme Court struck down the constitutional amendment for the proposed education tax in Hawai’i.

While the proposed constitutional amendment to tax investment property to fund public education seems like a good idea, it will result in a larger real estate bubble and further burden the children of Hawai’i with higher housing prices and rental prices.

First, according to the State of Hawai’i Department of Business, Economic Development and Tourism, 72.7% of privately-owned single-family homes in Hawai’i is owned by local residents, 23.3% by “mainlanders,” and 4% by foreigners.  Contrary to popular belief, according to Title Guaranty from January 2018 to June 2018 foreign buyers total 3.9% of home buyers. We should not discourage outside competition by increasing taxes nor should we single out and target Chinese buyers based on their national origin. Buyers from Japan are the top group of foreign buyers followed by Canada, Korea, then China.

Second, if passed the results of the property tax increase will benefit three main groups: 1) Local and state government, 2) Developers, and 3) Real estate professionals who profit off of inflated housing prices. Furthermore, property owners will pass the property tax increase onto renters many of whom are public school teachers.

Third, HSTA President Corey Rosenlee insists that Hawai’i’s legislators want only to tax second homes worth more than $1 million but mention of the $1 million threshold was deleted from the final bill stating in part “Funding of public education shall be determined by the legislature; provided that revenues derived from a surcharge on investment real property pursuant to section 3 of article VIII shall be used to support public education.””

Legislators do not define “investment real property.” In real estate, investment real property includes but is not limited to single-family residential homes, condominiums, hotels, commercial buildings, apartment buildings, motels, and much more. The legislators also do not mention “second homes.” It may be your home or someone’s family home that has been in the family for generations. The proposed property tax increase will also be passed onto those Kanaka Maoli who return to Hawai’i and stay in hotels to visit family. Why force them to pay more when they return to visit family?

Fourth, fellow real estate broker Choon James wrote “It’s a fallacy that every investment property owner is wealthy and thus, low-hanging fruit for taxation. Many “investors” are self-employed residents. They lead frugal lives and sacrifice in order to purchase an investment property. Their investment property is their retirement benefit. And let’s not forget, the benchmark used by Honolulu County for double tax on investment or Residential “A” is $1 million (an amount easily reached).”

Fifth, according to the National Education Association the percentage of revenue from local government for public school students in Hawai’i is 1.9% ranking Hawai’i at #51 while the percentage of revenue from state government is 86.1% ranking Hawai’i at #2.  As Randall Roth and Ben Cayetano pointed out “New tax revenues earmarked for education could easily be offset by reduced general-fund appropriations.”  They have the budget to do so.

Please do not continue to protect the profits of local and state government, developers, and real estate professionals who profit off the Hawai’i Real Estate Bubble at the expense of hard-working local families who rely on public education and at the expense of Hawai’i’s children who will face a larger real estate bubble. Please vote “No” on the ConAm to fund our public schools. The keiki of Hawai’i deserve better. Mahalo.

Lana Ululani Robbins passed the Florida, Washington, and Hawai’i real estate broker exams and owns her own real estate firm in Clearwater, Florida and Kirkland, Washington.

West of Market Kirkland Washington Real Estate SOLD in May 2018

By , September 14, 2018

West of Market Kirkland Washington Real Estate SOLD in May 2018

Welcome to our market update for West of Market in Kirkland, Washington. One single-family residential home that was listed for sale with the Northwest Multiple Listing Service sold in May 2018.

1. 554 14th Avenue W, Kirkland, Washington 98034

Listing Price: $2,195,000
Sold Price: $2,195,000

There are currently 13 residential homes for sale in West of Market in Downtown Kirkland. If you would like more information about any of these homes send an email to us at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com and we will arrange a private showing for you.

Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

Information and statistics derived from the Northwest Multiple Listing Service.

 

WANT TO CONTACT US?
Send an email to us: Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

Holmes Point in Kirkland Washington Real Estate Sold May 2018

By , September 13, 2018

Holmes Point in Kirkland Washington Real Estate Sold May 2018

Welcome to our market update for Holmes Point in Kirkland, Washington. One single-family residential home that was listed for sale with the Northwest Multiple Listing Service sold in May 2018.

1. 11103 Champagne Point Road NE, Kirkland, Washington 98034

Listing Price: $1,795,000
Sold Price: $1,795,000

We will be sharing more market updates soon so stay tuned and subscribe to our channel.

Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

Information and statistics derived from the Northwest Multiple Listing Service.

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

Bridle Trails in Kirkland, Bellevue, and Redmond Washington Real Estate SOLD in May 2018

By , July 26, 2018

Bridle Trails in Kirkland, Bellevue, and Redmond Washington Real Estate SOLD in May 2018

Mahalo for watching 🙂 Nine residential homes in Bridle Trails in Kirkland, Washington, Bellevue, Washington, and Redmond, Washington that were listed for sale with the Northwest Multiple Listing Service sold in May 2018.

1. 12237 NE 66th Street, Kirkland, Washington 98033
Listing Price: $750,000
S0ld Price: $850,000

2. 12124 NE 66th Street, Kirkland, Washington
Listing Price: $899,500
Sold Price: $992,000

3. 7720 139th Place NE, Redmond, Washington
Listing Price: $850,000
Sold Price: $1,000,000

4. 11708 NE 48th Place, Kirkland, Washington
Listing Price: $1,369,000
Sold Price: $1,492,000

5. 3115 122nd Place NE, Bellevue, Washington
Listing Price: $1,525,000
Sold Price: $1,520,000

6. 11817 NE 41st Lane, Kirkland, Washington
Listing Price: $1,550,000
Sold Price: $1,670,000

7. 6114 130th Avenue NE, Kirkland, Washington
Listing Price: $1,549,000
Sold Price: $1,750,000

8. 6108 133rd Avenue NE, Kirkland, Washington
Listing Price: $1,700,000
Sold Price: $1,800,000

9. 12 Bridlewood Circle, Kirkland, Washington
Listing Price: $1,850,000
Sold Price: $1,925,000

Whether buying or selling real estate in Bridle Trails contact us via email at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

Information and statistics derived from the Northwest Multiple Listing Service.

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

Totem Lake Condominiums SOLD in May 2018

By , July 25, 2018

Totem Lake Condominiums SOLD in May 2018

Welcome to our latest market update for Juanita in Kirkland, Washington. One condominium that was listed for sale with the Northwest Multiple Listing Service sold in May 2018.

1. 11307 NE 128th Street Unit #G201, Kirkland, WA 98034

Listing Price: $299,950

Sold Price: $326,000

 

Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

Information and statistics derived from the Northwest Multiple Listing Service. F

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

Juanita Homes in Kirkland Washington SOLD in May 2018

By , July 25, 2018

Juanita Homes in Kirkland Washington SOLD in May 2018

Welcome to our latest market update for Juanita in Kirkland, Washington. Three homes that were listed for sale with the Northwest Multiple Listing Service sold in May 2018:

1. 11008 11th Avenue NE, Kirkland, WA 98033

Listing Price: $550,000

Sold Price: $680,000

 

2. 11104 105th Avenue NE, Kirkland, WA 98033

Listing Price: $725,000

Sold Price $750,000

 

3. 11220 115th Place NE, Kirkland, WA 98033

Listing Price $775,000

Sold Price: $755,000

 

Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

Information and statistics derived from the Northwest Multiple Listing Service.

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

 

The Hamptons Condos at Harbour Pointe in Mukilteo Washington

By , July 15, 2018

The Hamptons Condos at Harbour Pointe in Mukilteo Washington

One condo that was listed for sale with the Northwest Multiple Listing Service sold in May 2018. It is located at 5300 Harbour Pointe Boulevard #302D, Mukilteo, Washington 98275.

Whether buying or selling real estate in Mukilteo, Washington contact us via email at Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

Information and statistics derived from the Northwest Multiple Listing Service.

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

East of Market in Kirkland Washington Residential Homes Sold in May 2018

By , June 13, 2018

East of Market in Kirkland Washington Residential Homes Sold in May 2018

Welcome to our latest market update for East of Market located in Kirkland, Washington. Nine residential homes that were listed for sale with the Northwest Multiple Listing Service sold in May 2018.  Watch our video below for details. Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

1. 10 19th Avenue, Kirkland, Washington 98033
Listing Price: $975,000
Sold Price: $975,000

2. 1325 9th Avenue, Kirkland, Washington 98033
Listing Price: $1,048,000
Sold Price: $1,030,000

3.101 18th Place, Kirkland, Washington 98033
Listing Price: $1,280,000
Sold Price: $1,280,000

4. 507 10th Avenue, Kirkland, Washington 98033
Listing Price: $1,149,999
Sold Price: $1,372,000

5. 530 9th Avenue, Kirkland, Washington 98033
Listing Price: $1,468,500
Sold Price: $1,500,000

6. 1319 4th Street, Kirkland, Washington 98033
Listing Price: $1,625,000
Sold Price: $1,607,000

7. 1210 5th Street, Kirkland, Washington 98033
Listing Price: $1,698,000
Sold Price: $1,698,000

8. 809 6th Street, Kirkland, Washington 98033
Listing Price: $1,888,999
Sold Price: $1,850,000

9. 1526 4th Street, Kirkland, Washington 98033
Listing Price: $2,198,880
Sold Price: $2,198,880

 

Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@SeattleRealEstateShow.com for a FREE market evaluation.

Lana Robbins, Managing Broker, Aloha Kai Real Estate. Licensed in the State of Washington and the State of Florida. Information and statistics derived from the Northwest Multiple Listing Service.

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

Juanita Condominiums in Kirkland Washington SOLD in March 2018

By , May 20, 2018

Juanita Condominiums in Kirkland Washington SOLD in March 2018

Two condos in Juanita located in Kirkland, Washington that were listed for sale with the Northwest Multiple Listing Service sold in March 2018. 1) 10418 NE 115th Place #K40, Kirkland, Washington 98033. Its listing price was $510,800 and it sold for $527,000. 2) 10032 NE 115h Lane, Kirkland, Washington 98033. Its listing price was $878,000 and it sold for $995,000. Watch our video below. Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

Information and statistics derived from the Northwest Multiple Listing Service.

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

East of Market in Kirkland, Washington Real Estate Sold! March 2018

By , May 19, 2018

East of Market in Kirkland, Washington Real Estate Sold! March 2018

Four residential homes in East of Market in Kirkland, Washington that were listed for sale with the Northwest Multiple Listing Service sold in March 2018:

1) 1345 6th Street, Kirkland, Washington 98033. Its listing price was $725,000 and it sold for $750,000.

2) 1020 4th Street, Kirkland, Washington 98033. Its listing price was $985,000 and it sold for $1,072,500.

3) 1413 1st Street, Kirkland, Washington 98033. Its listing price was $1.679 million and it sold for $1.609 million.

4) 652 10th Avenue, Kirkland, Washington 98033. Its listing price was $1.5 million and it sold for $1.925 million.

Whether buying or selling real estate in Kirkland, Washington contact us via email at Lana@SeattleRealEstateShow.com OR Lana@AlohaKaiRealEstate.com for a FREE market evaluation.

 

Information and statistics derived from the Northwest Multiple Listing Service.

Disclaimer: Information is believed to be accurate but should not be relied upon without verification.

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