Archive for October, 2009
Economist Predicts Hawaii Recovery In 2011
October 30th, 2009 categories: Rants & Riffs
Paul Brewbaker is one of my favorite economists. Since following him beginning in 1991, I have found him to make insightful predictions, many of which I disagree with at first. Paul is quoted in the Pacific Business News as forecasting a turn in the Hawaii economy in 2011. This may mean more of the same bumpy ride in 2010. Read the rest of this entry »
| Discussion: 2 Comments »
Good Time To Add Value To Your Honolulu House Or Condo
October 29th, 2009 categories: For Sellers
Today’s Wall Street Journal on-line had an article that reminded me that now may be a great time to remodel your Honolulu house or condo. Think about this, if the work you would like to do would have cost $100,000 in 2005, if the WSJ is right, you could get the same work done today for $80,000, that’s a savings of $20,000! Read the rest of this entry »
| Discussion: 2 Comments »
Honolulu Ranks 133 Out Of 203 Cities In Foreclosure Filings
October 28th, 2009 categories: Homes For Sale
Pacific Business News is reporting that Honolulu’s foreclosure rate is up as compared to last year.
“Honolulu ranked 133rd for foreclosure filings of the top 203 metropolitan areas, according to RealtyTrac’s Q3 2009 U.S. Foreclosure Market Report. Honolulu had a total of 1,186 foreclosures, or one filing for every 282 households, up 24.8 percent from second quarter 2009 and up 85.8 percent from third quarter 2008.”
CLICK HERE TO READ THE PBN ARTICLE
Given that this places Honolulu 133rd out of 203 surveyed cities (Las Vegas is #1), I am optimistic that we are so far down the list. Let’s hope that this is the bottom and we drop further down the list when the next one comes out.
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.
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Lessons From 911 Apply To Honolulu Real Estate
October 27th, 2009 categories: For Buyers, For Sellers
With Trulia, Zillow and other sources for real estate information, I am reminded of the problems created by technology in the pre-911 world. Prior to World Trade Center being hit, the USA’s intelligence community had been relying on our technological superiority in satellites and electronic eves dropping for intelligence on the bad guys. After 911 it become critically clear that there is no substitute for human beings on the ground. Read the rest of this entry »
| Discussion: 1 Comment »
Chinese Airline Clearance Good For Honolulu Real Estate
October 26th, 2009 categories: For Sellers, Rants & Riffs
The Honolulu Advertiser recently reported that Hainan Airlines was recently approved for weekly flights to Hawaii.
“State tourism liaison Marsha Wienert said the first nonstop scheduled service from China to Hawai’i could provide a big boost for the long-anticipated increase in visitors from there. Wienert said it could begin around the first of next year while the state and the airline earlier had hoped for a start date before the end of this year. “It’s very good for us,” Wienert said Friday at a meeting of the Hawai’i Tourism Authority. With Hawai’i tourism struggling out of a slump, officials are looking to China as a much needed new market.”
CLICK HERE TO READ THE HONOLULU ADVERTISER ARTICLE
Since real estate values are tied to tourism, expansion into the Chinese market can only benefit our economy. Think about this, in a good year, Hawaii has 7,000,000 visitors to the state. With its billions of people, we only need a fraction of a percent of the Chinese to come to Honolulu and our market will turn around. If you wonder why a Chinese national might like Waikiki, take a look at the picture below to see what their beaches look like. 
As this Asian market grows, owning a piece of paradise will become of interest to them and, I believe, you will see upward pressure on Honolulu real estate prices.
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: 4 Comments »
Did Honolulu Real Estate Get Hit By “Disintermediation”?
October 23rd, 2009 categories: Rants & Riffs
Brian Boero, of The 1000 Watt Blog, visited a Realtor fear that was running rampant as the Internet began to gain momentum in the mid-1990’s. I can remember Realtor concerns that the Web was going to make us irrelevant. Essentially, the thought was that if all of the Honolulu home and condo listings were available online, then why would a consumer need a real estate agent? I can’t tell when it happened, but it seems this fear has dissipated and we Realtors are now able to be much more efficient at selling properties.
“In fact, according the California Association of Realtors 2009 Buyer Survey, 90% of all buyers became aware of the property they eventually bought through their agent.That tells me the 15-year war over listings data is even more pointless than I thought. Turns out consumers still need a Realtor to find a home even if they search online, on their own, for months.”
CLICK HERE TO READ THE ENTIRE BLOG.
Here are four of the positive benefits Read the rest of this entry »
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Honolulu Triplex-Close To Diamond Head & Kahala
October 22nd, 2009 categories: Mortgages & Financing
If you are looking for a super clean three unit in the center of Honolulu, this clean and cute project might be perfect. The following are the details of the unit.
Price: $998,000
Part Of Town: Kaimuki (Kahala Heights for those that know)
Street: 21st Avenue, Honolulu, HI 96816
Bedrooms: Upstairs-two (2)/downstairs one (1)/back house-two (2)
Bathrooms: Upstairs-one (1)/downstairs one (1)/back house-one (1)
Lot Size: 7,500 square feet
Interior Square Footage: 2,156
Lanai Square footage: 0
Parking: Open parking on the lot and street parking
Maintenance Fee: $0
Condition: Very clean. No deferred exterior deferred maintenance.
CLICK HERE FOR A MLS FACT SHEET
Use for your 1031 Exchange property or buy it to live in one and use the other’s rent to subsidize your monthly housing cost.
Feel free to email me at keahi@lava.net or call me at 808-398-3220, if you have any question.
| Discussion: 1 Comment »
Two Honolulu Houses On One Lot
October 22nd, 2009 categories: Mortgages & Financing
If your thinking you might like a house of your own with a separate rental house on the same lot, this one might be for you. Located in Honolulu’s desirable community of Kaimuki, live in one and rent out the other. If you like it, hurry because it will sell fast.
Price: $868,000
Part Of Town: Kaimuki
Street: 4th Avenue, Honolulu, HI 96816
Bedrooms: Front house 3-bedrooms, back house 2-bedrooms
Bathrooms: Front house 2-baths, back house 1-bath
Lot Size: 5,441
Interior Square Footage: Front house 1,486, back house 484
Parking: Lots of open parking on the lot and street parking too
Maintenance Fee: 0
Condition: Vacant ready to move in. Very clean.
CLICK HERE FOR A MLS FACT SHEET
Perfect for extended family. Central to everything in Honolulu. Cut your drive time and housing costs (by renting out one of the homes).
Feel free to email me at keahi@lava.net or call me at 808-398-3220, if you have any questions or would like more pictures of the condominium.
| Discussion: No Comments »
National Housing Construction Trends
October 21st, 2009 categories: For Buyers, For Sellers
Here is a good update on national construction trends.
“The Commerce Department says construction of new homes and apartments rose 0.5 percent in September to a seasonally adjusted annual rate of 590,000 units. That was a weaker showing than the 610,000-building rate that economists had been forecasting.”
CLICK HERE TO READ THE ENTIRE FORBES 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: No Comments »
7 Things To Consider Before You Buy Your Honolulu Home
October 20th, 2009 categories: For Buyers
As a Honolulu Realtor, I have generally believed that owning your home or condo is better than renting it. There are too many benefits to home ownership, however, a recent Washington Post article, made me think again. Read the rest of this entry »
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