Archive for August, 2008
Good News For Honolulu and the U.S.!
August 29th, 2008 categories: Rants & Riffs
I am always looking for good news and yesterday’s report on durable goods orders was great to hear. A Honolulu Advertiser Article states the following.
“U.S. factories saw a surprisingly hefty increase in their orders for big-ticket products in July, reflecting continued strength in export sales and a boost to business investment from the government’s tax stimulus package.”
CLICK HERE TO READ THE ENTIRE ARTICLE
I know that our cumulative attitude drives markets! If we are optimistic about our future, guess what, our future is bright. And the opposite holds true too. So let’s all make conscious choices to do as Jiminy Cricket says “Accentuate the positive and eliminate the negative”!
Today’s Honolulu picture is the entry gate to the community called Kahala Kua.
OTHER POSTS WORTH READING!
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
| Discussion: 1 Comment »
Would John Templeton Buy Honolulu Real Estate?
August 29th, 2008 categories: Rants & Riffs
Sir John Templeton died on July 8, 2008. For the uninitiated, he was arguably one of the greatest stock investors of all time. According to the New York Times, “The flagship Templeton Growth Fund reported a 14.5 percent average annual return from 1954 to 1992; a $10,000 investment, with dividends reinvested, would have grown to $2 million.” Let’s assume he know something about risk.
Here is a quote from Sir John that has great application to Honolulu real estate.
“The time of maximum pessimism is the best time buy, and the time of maximum optimism is the best time to sell.”
There is pessimism in our market. Is it at a maximum? Maybe not. Is it going to get worse? I don’t know, but I am starting to see signs that attitudes and business are turning toward the positive side. If this is the case, then now is a great time to buy! Think about it.
Today’s view was taken from a 10th floor unit at the Colonnade on the Green condominium. The 2 bedroom 2 bath unit sold recently at $310,000.
OTHER POSTS WORTH READING!
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
| Discussion: 1 Comment »
The Demise of a Giant!
August 28th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
I was surprised to read that the LA Times has done away with its Sunday Real Estate Section! I have heard that the Times has been bleeding red ink, but this was shocking. A recent Blog post by LA Realtors, Merrie Kung & Noelle Hettlinger, summarizes the shift away from newspapers in the marketing of real estate.
“I’d guess that the paper had the ad money for the length of time it did because when the market was booming, brokers had the cash to put into advertising that they knew wasn’t very effective just because they could. It was easier to appease sellers and continue the same old thing because it was less work that educating people about how the marketing paradigm had shifted away from print media. Now that everyone is watching their wallets much more closely, better advertising dollars are spent on being where the customers are.”
CLICK HERE TO READ THE ENTIRE POST.
In Honolulu, I have found that an advertisement placed in the local newspapers leads to almost no calls. In years past, there would be many responses. Marketing on the web has become the key to getting a home sold.
Today’s picture was taken outside San Francisco. Don’t know what it is, but I thought it was beautiful.
OTHER POSTS WORTH READING!
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
| Discussion: 5 Comments »
Prepare Your Honolulu Home Before You Go To The Market!
August 27th, 2008 categories: Honolulu Real Estate 101
North Carolina Realtor, Sandy Sibley, has 8 great suggestions for increasing the value of your home. She says the following.
“Enrich with color. Paint’s cheap, but forget the adage that it must be white or neutral. Just don’t let sellers get too avant-garde with jarring pinks, oranges, and purples. Recommend soft colors that say “welcome,” lead the eye from room to room, and flatter skin tones. Think soft yellows and pale greens. Tint ceilings a lighter shade.”
CLICK HERE TO READ THE ENTIRE POST.
A little preparation ahead of time can lead to a quicker sale and more money in your pocket. Call me at 808-737-2093 if you would like me to take a look at your property.
Today’s picture of a dragon fly on my sleeve was taken on my recent trip to northern California. He (the dragon fly) hung out there for at least 10 minutes.
OTHER POSTS WORTH READING!
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
| Discussion: No Comments »
Honolulu ranks among top affluent cities!
August 27th, 2008 categories: Reasons To Sell
Read Pacific Business New’s Article.
| Discussion: No Comments »
Sell Your Honolulu Home Before Buying Another!
August 25th, 2008 categories: Honolulu Real Estate 101, Negotiating
Sara MacLennan and Sheldon Johnston, real estate agents in Edmonton, recently wrote a great article regarding the problems created by Buyers making offers on their new home before their old home is sold. They say the following.
“In order to get this condition accepted, every other part of your offer needs to be very strong. When we’re representing a seller and we receive a subject to sale offer, we will generally advise our clients to counter strong. The sellers really have nothing to lose, since the likelihood of the deal actually going together is slim to none. So as a buyer, you end up in a weak negotiating position, and will likely have to pay top dollar, with a large deposit and tight time frames on your other conditions - in fact, you could very easily end up paying for an inspection, only to lose the home to another party.”
CLICK HERE TO READ THE ENTIRE POST
I concur with their findings and highly recommend that you get your home sold before you try to buy another.
Today’s picture is another fish that I had a chance to meet on my recent vacation.
| Discussion: No Comments »
Now May Be The Time In Honolulu
August 21st, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
Find your courage. If you are a long-term investor, now may be one of the best times to buy real estate. A recent Wall Street Journal article talked about an investment bank in San Diego that sees opportunity amidst the town’s slow real estate market.
“Mr. East, a managing principal of Silver Portal Capital LLC, a small real-estate investment bank, is raising $150 million to purchase foreclosed houses in and around the firm’s hometown of San Diego. He is scouring lender portfolios and real-estate listing services — as well as spots to get a cup of coffee — for houses that he can rent out and then resell in five years. That is when he bets that the local housing market will have recovered.”
Translate this to Honolulu. Our market is stronger, it has much less of an ability to add new homes and the still relatively low interest rates, and I believe a purchase now will be looked upon as a terrific move 10 years from now.
Today’s picture was taken on my recent trip to Antelope Creek Ranch in the Mount Shasta area of Northern California. As always, no fish was harmed in the taking of the photo.
| Discussion: No Comments »
Honolulu Board of Realtors Enter The Technological Age!
August 20th, 2008 categories: Honolulu Real Estate 101
Hip-hip-hooray! The Honolulu Board of Realtors has finally adopted a lockbox system that is consistent with the technological age in which we find ourselves. The new lockbox allows me to maintain detailed information concerning who and when your home is shown. It also gives me a much stronger ability to control overall access to a listing. All in all, it is a great system that will lead to more showings, which means a broader market for you property and the highest selling price. To learn much more about this system go to SentriLock.com.
When interviewing a Realtor to sell your property, be sure to ask if they will use the lockbox? Believe me it brings a great deal to the game.
| Discussion: No Comments »
College Student Bound for Honolulu? Buy A Condo!
August 19th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
Consider using your room and board to buy a condo, instead of sending to the college! Why not use that money to invest in real estate? The FHA has created a loan program for this very purpose. Wells Fargo Home Loan calls it the “Kiddy Condo” loan.
Here is an overview.
•Down payment-2.25% ($2,250 for every $100,000).
•Your son or daughter must live in the apartment.
•The student need not have income or credit.
•Standard FHA rates and terms will apply.
•The unit must be located near a college campus.
•The condo must be FHA approved and have at least 51% owner occupancy.
(This information was taken from a flyer provided by Well Fargo Home Mortgage)
Call me if you would like to find a building that will meet these requirements. I can be reached at 808-737-2093.
Today’s picture is of Aloha Tower Market Place.
| Discussion: 1 Comment »
Star Wars In Honolulu?
August 18th, 2008 categories: Rants & Riffs
Maybe it’s just me, but Matson’s cranes at Honolulu Harbor remind me of something one might have seen in a “Star Wars” movie. Perhaps my son has built too many of the “Star Wars” Lego kits! Think about this…just about every product to come to Oahu has had to be lifted by these mammoths.
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