Archive for July, 2009
Castle Surf View
July 31st, 2009 categories: Condos For Sale, For Buyers
Today’s post is on the lighter side. This past Wednesday, while previewing a number of units that were open on the “Gold Coast” at the foot of Diamond Head, the picture below caught my eye. Castle Surf is one of the few condominiums in the area (most of the other apartment buildings are cooperatives) and it is next door to the Elks Club. There is just one unit available for sale (at $650,000) and there have not been any recent sales.
- View from Castle Surf Apartments
CLICK HERE TO SEE A MLS PRINT OUT ON CASTLE SURF #43
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
| Discussion: No Comments »
New Rules Make Planning A Must For Honolulu Buyers And Sellers
July 30th, 2009 categories: For Buyers, For Sellers
In previous posts, I have talked about the crazy appraisal rules enacted at the beginning of May. The Wall Street Journal is now reporting that the rules have been creating problems.
“New rules aimed at making home appraisals more accurate are raising costs and prompting longer waits to get to the closing table, some in the mortgage industry say. The new rules — known as the Home Valuation Code of Conduct and in effect less than three months — have driven up the cost of appraisals, says Keith Stewart, a mortgage consultant with NorthPoint Lending Group in Chicago.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE
Since we have to live with these rules, it is becoming more imperative that both buyers and sellers of Honolulu real estate do their homework before entering the home market. Here are four things to consider before jumping into a sale or purchase. Read the rest of this entry »
| Discussion: No Comments »
Honolulu Downsizers Might Be Slowing
July 29th, 2009 categories: For Sellers
Pacific Business News is reporting the slowing of a recent trend by longtime house owners down sizing to condominiums.
“During the most recent condominium construction boom, many people sold their houses on Oahu and moved into brand-new condominiums in and near downtown Honolulu. Today, with nearly all of the developer units sold, the downsizing trend has leveled off as investors line up to buy properties in town.”
CLICK HERE TO REAL THE PACIFIC BUSINESS NEWS ARTICLE
Here is my perspective, with the economic upheaval in the last year, it is too soon to say any trends have stopped or started. I suspect there are many people whose kids have left home and the time spent maintaining a large home is becoming arduous. If we were in good economic times, those that have yet to move to a simpler housing situation would still like to do so. Since there is still uncertainty in many aspects of our national financial world, like many potential buyers, these empty nesters will stay put until there is less risk in making a move. Once the horizon looks safe and clear, these people will become buyers and this will do two things.
1. They will be looking for condominiums in core Honolulu close to shopping and senior services. Therefore they will put pressure on the middle to upper level apartment market.
2. Their existing homes are in very desirable areas, so as they sell we should see some very nice homes come to the market.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
| Discussion: 2 Comments »
Home Prices Rise?
July 28th, 2009 categories: For Sellers, The Market
The Wall Street Journal is reporting that the Case-Shiller index is showing positive news.
“Home prices in major U.S. cities rose in May for the first time in almost three years, the latest data to indicate a bottom could be forming in the housing market—and the broader economy.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE Read the rest of this entry »
| Discussion: No Comments »
Planning To Sell Your Honolulu Home Part Nine-Courageous Person
July 28th, 2009 categories: For Sellers
Sorry for the long lay-off on completing my twelve part series on preparing to sell your Honolulu home. This installment threshes out number nine on the list. Read the rest of this entry »
| Discussion: No Comments »
Millionaires Abound In Hawaii!
July 27th, 2009 categories: For Sellers, Rants & Riffs, The Market
According to Pacific Business News, Hawaii has the more millionaires per household than any other state in the union.
“Phoenix Marketing International of New York defines a millionaire household as one with $1 million or more in investable or liquid assets, excluding sponsored retirement plans and real estate.
The marketing firm announced Friday the number of millionaires in the U.S. has declined by 14 percent over the past two years.
But 6.4 percent of Hawaii’s households, or 28,363, are millionaires.”
CLICK HERE TO READ THE PACIFIC BUSINESS NEWS ARTICLE
It would be fun to see how much of this wealth has been created by appreciation in real estate. I’ll bet that real Hawaii property values have played a significant role in helping create this statistic. Think about it.
SEARCH FOR YOUR HONOLULU HOME
If you would like to put KU Realty to work for you, feel free to call me, Keahi Pelayo, at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
OTHER HONOLULU REAL ESTATE POSTS WORTH READING
Honolulu Real Estate Vs. Stock
A Good Lesson
Answers To Your Questions About Keahi Pelayo
Honolulu Rental Rates
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
Pricing Your Home
Long Term Investment Makes Sense
Off Base Housing Allowances-BAH
| Discussion: No Comments »
Honolulu Foreclosures Down!
July 24th, 2009 categories: The Market
Pacific Business News is reporting that foreclosures are down. For clarity they are still higher than 2008, but I will take the good news.
“Honolulu had one filing per 1,131 housing units, down 26 percent from May but up 295 percent over June 2008.”
CLICK HERE TO READ THE PACIFIC BUSINESS NEWS ARTICLE
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
| Discussion: 1 Comment »
Firming Mainland Markets-Good For Honolulu
July 24th, 2009 categories: Rants & Riffs, The Market
The following report from the Wall Street Journal could be very good for Honolulu real estate.
“In June, home sales were up sharply from the depressed year-earlier levels in Orlando, Minneapolis, Southern California and the San Francisco Bay Area, according to reports from local Realtor groups and MDA DataQuick, a research firm.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE
Traditionally, rises in Hawaii real estate values have been tied to the California economy. The right CA areas are starting to increase in value and other sources are saying inventory is dropping too. Stay tuned!
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
| Discussion: No Comments »
Two Bedroom Honolulu Condo $199,000!
July 24th, 2009 categories: Condos For Sale, For Buyers
Hard to believe, but true, a fee simple 2 bedroom 1 bathroom condominium, just 6 miles from downtown Honolulu for $199,000. Here are the specific details.
Interior Square Footage-595
Lanai Square Footage-67
Parking with unit-one open stall
Guest parking on site
Maintenance fee-$256/month
Property Taxes-$61/month
Views-from Ewa Beach to Waikiki
The perfect first home or rental property, this apartment is centrally located to Waikiki, Pearl City, Pearl Harbor, Aiea, Hickam Air Force Base, Fort Shafter and very freeway close. The picture to the left was taken from the lanai, as you can see it has pleasant and expansive views. Kitchen and bathroom cabinets and counters have been changed; laminate flooring and new carpet in one room. The tub has been refinished and the entire unit was just painted. In other words, just move in and begin enjoying home ownership.
The following is a possible financing plan using an FHA loan (yes it is FHA approved).
Purchase Price-$199,000
3.5% Down Payment-$7,000
First Mortgage Amount-$192,000
First Mortgage Payment (At 5.5%)-$1,090.15
Mortgage Insurance Payment-$83.20
Maintenance Fee-$256
Property Taxes-$61
Total Monthly Payment-$1,490.35
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
| Discussion: No Comments »
Finally! Clarification Of The Appraisal Code!
July 23rd, 2009 categories: For Buyers, For Sellers, Rants & Riffs
Since the May 1 institution of an “appraiser code”, the real estate community has seen a large number of contracted sales fail due to low appraised values. In a classic, government over-reach the “code” intended to insulate appraisers from pressure applied by the lender and Realtors. In my view, Read the rest of this entry »
| Discussion: No Comments »
; ?>/images/MatoChiclet.gif)
