Charles Lohr, Other/Just Looking in Honolulu, HI

Why doesn't Trulia identify a property as FeeSimple or LeaseHolder?

Asked by Charles Lohr, Honolulu, HI Thu Jun 7, 2012

A $250K property (mortgage, tax, maintenance, lease ...) might be $5K per month LeaseHolder, or $2500 per month Fee Simple. Big difference.

Why doesn't Trulia state LeaseHolder or FeeSimple for each property?

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Answers

5
Hi Charles,

Thanks for your interesting and well thought out question.

In the few instances where the property is not being offered for sale as FeeSimple, it is usually highlighted by the listing agent in the description in those properties. Because the exceptions to FeeSimple are so few, and most home buyers do not search by lease type (instead opting to search by the number of bedrooms and bathrooms for example) we let the agents specify when their properties lie outside the FeeSimple norm.

If you have any more questions, just let me know!

Andrew Wilkinson
Community Manager, Trulia Voices
0 votes Thank Flag Link Wed Jun 13, 2012
Dear Charles Lohr,
There is a State law that says for any real-estate advertisement or promotional material of Leasehold property that the word "Leasehold" be plainly stated in the ad. There is no such law for fee simple property. So when you see any advertisement/promotional material for real-estate in Hawaii without "leasehold" stated then it should be known to be fee simple. Of course there are scofflaws and some may not even realize what the law is. If you are aware of a violation to this requirement then you may bring this to the attention of the Real Estate Commission.
Please consider me if you are a Buyer or Seller who is looking for that intuitive Realtor to help you purchase or sell your Hawaii property. Please contact me: JJ Jasinski, Realtor at Clark Realty Corp. Hilo,
(808) 985-9030, or email: jjonhawaii@yahoo.com
Mahalo and Aloha! JJ
0 votes Thank Flag Link Fri Jun 8, 2012
Aloha,

Trulia identifies properties all over America. Hawaii is one state that had a lot of lease hold which is not true of the rest of the US. Trulia is not the most acurate place to find real estate information. Often, they are off in value and many times property is undercontract or has sold. For best results contact a local real estate agent for the most up to date and accurate information. Feel free to call me for any question in regards to real estate in Hawaii.

Mahalo nui loa,

Bill Parecki

Realtor Salesperson (RS)
Accredited Buyer's Representative (ABR)
REO Default Certified Professional (RDCPro)
Short Sales & Foreclosure Resources (SFR)
Technology and Social Media Certified (E-Pro)
Certified Foreclosure Specialist (CFA)

Top 1% of Agents in the State of Hawaii

There is no substitute for experience

Hawaiian Island Homes Ltd
Telephone: (808) 345-8818
Facsimile: (808) 934-7400
E-Mail

HawaiianIslandHomes@gmail.com
0 votes Thank Flag Link Thu Jun 7, 2012
Hi Charles,

The reason is that not all fields "map across" from all the various MLS databases (such as Hawaii) to different databases, such as Hawaii. If you see a 1 bedroom for less than $100,000 or a 2 BR for less than $200,000, chances are it is leasehold.
In any case, feel free to call or email any time, would be happy to set up a search or answer any questions.

Aloha,
Frank Diaz
(RA) MBA, e-PRO, REALTOR®
East Oahu Realty
808.723.0900 cell
http://hawaiihome.biz/
0 votes Thank Flag Link Thu Jun 7, 2012
IT should, that's the bottom line.
This is why you should go to a local REALTOR for all your questions and answers about Hawaii real estate. Zillow, Trulia, REaltyTrac are all shades of the same thing. THey are trying to grab the consumer/buyer/seller and sell that access back to the agents.

Cut out the middle men and go straight to the source, LOCAL AGENTS. We are the ones that are in the trenches everyday and know each building and neighborhood intimately. Often we have seen the same units or homes that have sold before and we know the history and potential problems. Something that a data aggregator could never tell you.

Please let me know if I can answer any questions for you, the Hawaii market is amazing right now, prices are back to 2007 prices in many areas, financing is cheap and the prices are starting back up.

Let me know if I can be of assistance to you. My Ipad/Iphone app shows every MLS unit on market. As does my google map driven search on my website. IT is all free to use as much as you want.

Just give me a call when it is time to get serious and get some answers to your questions.

Aloha
David Nash (S)
Web Reference: http://www.TheOahuAgent.com
0 votes Thank Flag Link Thu Jun 7, 2012
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