Archive for January, 2009
Newspapers Irrelevant To Real Estate Sales!
January 30th, 2009 categories: For Sellers, Rants & Riffs
Surfing around the blogosphere yesterday, I ran across a post that Google has discontinued a project to take advantage of newspapers and other print media. 1000wattblog.com reported the following.
“Newspaper ad revenue has been in a death spiral for years, but the numbers — and everything I am seeing and hearing from brokers — indicate we are pretty close to impact.”
CLICK HERE TO READ THE ARTICLE
The blog quoted Mediaweek, so I Googled their article and they went on to say the following.
“But clearly, Google hasn’t seen the benefit it planned for when weighed against the resources it invested.”
CLICK HERE TO READ THE ARTICLE
These snippets confirm what Honolulu Realtors have known for sometime and that is newspaper advertising is expensive and has become a poor way to produce results for a seller. The flip side is that the Internet has become a terrific source of exposure and sales. Here is the lesson.
In 2009, if you are considering selling a home on Oahu, you want to be sure that the real estate agent you hire has a clear and well thought out plan to market your property on the Internet. If you would like to see how I get it done, feel free to call me at 808-737-2093 or toll free at 877-737-2093.
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View Honolulu House $815,000
January 29th, 2009 categories: For Buyers, Homes For Sale
Located on the slopes of the Koolau Mountains just above fashionable Kaimuki town. Offering terrific views of Diamond Head, Honolulu city lights and the ocean from the living room and master bedroom. A 3 bedroom with 2 full baths and completely separate 1 bedroom 1 bath, makes it perfect for those with an extended family or the need for a home office.
CLICK HERE FOR A COPY OF THE MLS FACT SHEET.
This home is listed by another real estate company. I would be happy to show it to you and do a great job negotiating the best buy. Feel free to call me at 808-737-2093 or toll free at 877-737-2093.
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Buying Honolulu Short Sales…Or Not!
January 28th, 2009 categories: For Buyers
There are many buzzwords in the Honolulu real estate market, REO, short sales, foreclosures and pre-foreclosures. It seems these words put dollars in many buyers’ eyes, as they think properties experiencing these problems can be purchased at really low prices. Here are a few random thoughts.
1. We are seeing a few distressed properties in core Honolulu, but not many.
2. Short sales must be approved by the lender Read the rest of this entry »
| Discussion: 2 Comments »
Honolulu Real Estate Pace Could Pick Up…Quickly!
January 27th, 2009 categories: The Market
I read an excellent article at Forbes.com that leads me to believe that a turn in the National economy and, therefore, the Honolulu real estate market may be closer than we think.
“U.S., according to the Census Bureau. In December, the latest data available, home builders started houses at a 550,000 annual rate. In other words, at the current pace of housing starts, it would take 236 years to replace all the homes in the U.S.
To put this in perspective, homes are normally built at a pace that would replace the existing stock of houses every 75 years. Unless you can imagine everyone living in Thomas Jefferson’s Monticello–first lived in 239 years ago–this is impossible to sustain.
Assuming we eventually get back to the normal “replacement rate” of 75 years, housing starts will have to go up to 1.75 million, a dramatic climb from the current 550,000 pace.”
CLICK HERE TO READ THE FORBES ARTICLE
Call me at 808-737-2093 or toll free at 877-737-2093 to discuss and questions or concerns.
| Discussion: 1 Comment »
How Low Can Honolulu Interest Rates Go?
January 26th, 2009 categories: Mortgages & Financing, The Market
Had a meeting this morning with representatives from a company that manages a half trillion dollars. That would be $500,000,000,000. I had to think about how to write that number for a minute. Anyway, as we discussed various aspects of the money market, they said that the Fed Funds rate is at .25% (yes, that is ¼%)! Their point was that the Fed is printing money as fast as it can and interest rates are near as low as they can go. What does this mean for Oahu real estate?
Here are a few random thoughts.
1. Sometime in the next few years, or sooner, don’t be surprised to see inflation come into the market.
2. If inflation does begin to rise, Honolulu real estate should be a very good hedge against it.
3. If you are waiting for interest rates to go lower, you are risking missing historically low interest rates! If you have to refinance an existing mortgage get it done. If you are thinking about buying, you may not be able to do it this cheap ever again. In other words, don’t risk trying to get a better interest rate, if you can lock a rate for less than 5.0% do it.
Feel free to call me at 808-737-2093 or toll free at 877-737-2093, to discuss any questions that might arise.
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Best Buy In Kahala $1,499,000!
January 23rd, 2009 categories: For Buyers, For Sellers
Kahala is one of Honolulu’s most desirable neighborhoods. It is known for large lots, a good elementary school and pricey homes. Most homes under $1,500,000 need lots of work or to be torn down. This home is the exception.
So what makes this house so great? Let’s start with a location on Ahakea Street. It is wide, has low traffic and is very pleasant. The slight curve in the road adds a positive elegance to the home and neighboring properties. Let’s talk about the house. It has high ceilings and an expansive open feeling that brings the outdoors inside. Come home to a sense of living in a private oasis! Check out these pictures and you can see it is a beautiful home (double click on them for a larger view). Call me at 808-737-2093 or toll free at 877-737-2093 to set up an appointment to see it. Note that this home is listed by another company and I would be representing your interests in its purchase.
CLICK HERE FOR AN MLS FACT SHEET
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Help With Honolulu Vintage Homes?
January 23rd, 2009 categories: KU Realty
Those of you that have read my blog for a while know that I like Honolulu’s homes that have a vintage character. Whenever I am on the road and find a home that I like, I snap a picture and post it here. Too many times I see these beauties being torn down to make way for new “Mcmansions”. Maybe one day the photos you and I post will be a good record of Honolulu’s past architecture. Here’s your chance to help me, when you see a home that you think I could use in a post, just do the following.
1. Take a picture of it in the largest possible format. Cell phone photos are OK.
2. Note the address or street.
3. Email me the photo, address or street name to keahi@lava.net
4. Check my blog to see that it was posted.
Note that I reserve the right to post the ones I like and don’t take any offense if I don’t use it.
Today’s vintage home is in Manoa. Fresh paint and different accent colors could make this home very charming. Here is a little sarcasm, how do you like the blue recycling garbage can? Honolulu-ites now have 3 of them blue, green and grey. Funny that trash cans now litter our yards and streets.
| Discussion: 1 Comment »
Fabulous Honolulu Home-$795,000!
January 22nd, 2009 categories: For Buyers, Homes For Sale
This is a beautiful home located on the slopes of Honolulu’s Palolo Valley. Delight in the just completed major remodel! Live designer dream upstairs and use the downstairs as a rental, separate office or in-laws quarters. Minutes away from the University of Hawaii, private schools, Waikiki Beach, Ala Moana Shopping Center, and all of Honolulu! “A picture is worth a thousand words”, so click here to go to see a full set of pictures worth hundreds of thousand of words!
CLICK HERE FOR AN MLS FACT SHEET.
If you would like to discuss this listing, feel free to call me at 808-737-2093 or toll free at 877-737-2093.
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Master Plan for Honolulu’s Kakaako Approved!
January 22nd, 2009 categories: Neighborhoods, The Market
With the recent approval of their master plan, General Growth Properties has taken another step toward revitalizing Honolulu’s Kakaako area. The Honolulu Star Bulletin reported the following.
What is does this mean to the long term health of Honolulu’s real estate market? I believe it is all good! Currently, Kakaako has been an area that has no continuity, an auto mechanic’s operation can be doors away from a store or a restaurant. When it rains, many parts of the area have deep pools of standing water and it can be treacherous area in which to drive. It has needed a change of direction for many years.
As the area is revitalized, you will see higher quality structures and more homogeneity in uses. This means it will tie in better with the surrounding neighborhoods and should lead to higher real estate values for everyone (good if you own, bad if you are a renter). Given Kakaako’s proximity to down town Honolulu, the legislature, City Hall, Ala Moana Shopping Center and Ala Moana Park, this may be a great time to buy for long term appreciation.
Feel free to call me at 808-737-2093 or toll free at 877-737-2093 to discuss taking advantage of this area’s opportunities.
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Insightful View Of President Obama
January 21st, 2009 categories: Rants & Riffs
Hugh Hewitt has a very insightful view of the significance Barack Obama’s inauguration as President. Note that Hewitt would be considered a conservative by most.
God bless America and Barack Obama!
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