Buying A Home At A Non-Distressed Auction With No Buyers Premium – David Buck
On this episode of The Closing Table, we sat down with David Buck!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from David Buck…
David is a seasoned real estate professional and serves as the principal broker and owner of Hardcourts Island Real Estate, specializing in the unique and demanding Hawaii market. Beyond his professional endeavors, David is a devoted husband and father of two daughters, proud to call Hawaii his home. His passions include ocean sports, travel, and mountain adventures.
Born and raised in Hawaii, David’s deep connection to the islands is reflected in his commitment to the local community. Notably, 93% of Hawaii’s land is zoned for agriculture or conservation, shaping the dynamics of property development. Despite the limited land availability, Hawaii boasts one of the country’s lowest property tax rates at 0.35% for primary residences.
With an impressive 23-year tenure in the industry, David has become a respected figure, servicing the entire island of Oahu. His firm, Hardcourts Island Real Estate, stands out as a premier establishment, navigating the complexities of Hawaii’s real estate market. David’s expertise is particularly crucial in a market where luxury homes in Kahala command high prices, and foreign buyers significantly impact property dynamics.
The scarcity of land in Hawaii directly contributes to the traditionally higher real estate prices. Notably, the market is influenced by factors such as limited urban zoning in Honolulu and the allure of neighbor islands for celebrities seeking privacy. Foreign buyers, attracted by Hawaii’s unique charm, play a significant role, with exchange rates influencing market trends.
While Hawaii offers lower property taxes compared to California, the cost of housing remains relatively higher. Factors such as smaller homes and limited garage space contribute to the unique housing landscape. Despite these challenges, natural trade winds contribute to a comfortable living environment, compensating for some housing limitations.
Next, David sheds light on the diverse entertainment options, highlighting the contrast between Oahu and neighboring islands like Maui and Kauai. Privacy-seeking celebrities often choose the latter, impacting the islands’ entertainment dynamics. David also addresses healthcare accessibility, noting the discrepancy between the availability of hospitals on Maui and Oahu. This insight is crucial for individuals considering factors beyond real estate when relocating within Hawaii.
David’s transition from firefighting to real estate is a testament to his adaptability and commitment. His values of pride, service, and dedication, honed in the firefighting profession, continue to shape his ethical approach in real estate. Notably, the absence of high-pressure sales tactics underscores David’s client-centric philosophy.
Delving into the unique challenges of Hawaii living, David addresses the common issue of cockroaches in homes. He provides practical tips on cleanliness as a preventive measure, offering valuable insights for potential residents. Expanding on pest-related challenges, David discusses various pests in Hawaii and emphasizes the importance of regular pest control. From cockroaches to centipedes, scorpions, and even wild pigs, understanding and managing these challenges are crucial for island living.
Following that, David introduces the concept of non-distressed auctions, dispelling misconceptions about auctions being exclusive to foreclosure sales. Through Hardcourts Auctions, he offers transparency and a streamlined process, charging an additional commission instead of a buyer’s premium. This innovative approach removes traditional negotiation games, providing a fair and efficient platform for luxury property transactions.
David elaborates on the auction process, emphasizing the “as is” nature with pre-auction inspections. The accelerated process aims to determine market value efficiently, benefiting both sellers and buyers. In addition, David sheds light on Hawaiian homelands, designated lands with 99-year leases, offering unique opportunities for eligible individuals with Hawaiian blood.
Drawing from personal experiences, David shares instances where he assisted second-generation Hawaiians in purchasing their first homes. These heartwarming stories underscore the positive impact of homeownership on local communities.
He then addresses the challenges faced by native Hawaiians aspiring to own homes amidst rising housing prices. Multi-generational living, a common practice, further emphasizes the need for legislative measures to increase affordable housing. The introduction of Additional Dwelling Units (ADUs) offers a potential solution, allowing for more diverse housing options.
David delves into the specifics of ADUs, providing valuable information on their size limitations and potential impact on Hawaii’s housing landscape. This insight is crucial for those navigating the intricate details of Hawaii’s real estate market.
To conclude, David shares a motivational recommendation, endorsing the book “Rich Dad Poor Dad” by Robert Kiyosaki. The book’s emphasis on financial empowerment and entrepreneurial spirit resonates with David’s own journey, providing a guiding philosophy for personal and professional success.
Check out David Buck:
Facebook: https://www.facebook.com/kawikabuck
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