Archive for December, 2009
Strengthening Tourism Good For Honolulu Real Estate Market
December 23rd, 2009 categories: Rants & Riffs, The Market
Call it trickle down economics or whatever you like, but Pacific Business News in reporting positive things for Honolulu’s tourism market.
“Compared with the first half of the year, the last three months have been downright prosperous, helped by annual events like the marathon and North Shore surfing, and international conventions that drew tens of thousands of attendees.” CLICK HERE TO READ THE ENTIRE ARTICLE
As tourism improves, the Hawaii job market will improve and as it improves almost everything else will get better. Here is another sign that improvement is coming which means that today’s home and condo prices could be at or very near the low in the real estate market.
To me, the big question is when we will start to see price appreciation and I don’t have a clear answer. Traditionally, the core Honolulu single-family residence market leads the Oahu real estate market out of recession. Given the low level of inventory at the end of November, I expect a change sooner than later.
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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Home Tax Credit Rules Honolulu Buyers
December 22nd, 2009 categories: For Buyers, Military, Mortgages & Financing
The vaunted Federal Home Buyer Tax Credit has been extended through the end of April 2010. As you can imagine there are a great many rules and conditions to consider when using it to complete your purchase. Ron Li (808-778-6538), a mortgage lender with Metlife, mailed me a helpful and detailed set of handouts that should answer almost all of questions about the available credits. Just click on the links below to get the information relevant to your situation.
First time buyer tax credit information (details).
Move up homebuyer tax credit (details).
Homebuyer tax credit for military personnel (details).
Homebuyer tax credit resources.
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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What Will The Government’s Exit From Real Estate Do To The Honolulu Market?
December 22nd, 2009 categories: Rants & Riffs, The Market
Over the last year the Federal Government has taken an unprecedented role in stabilizing the real estate market (through tax credits and buying mortgage backed securities, as an example). So the question is how will their exit from the market in 2010 impact the overall health of the real estate market? My answer is I don’t know, but it is something that the smart investor should be focused on. Businessweek had a very interesting article on-line yesterday.
“The U.S. housing market has been on government life support for much of 2009. Thanks to the feds’ bounty of tax credits, purchases of mortgage securities, interest-rate cuts, and home loan programs, new and existing home sales are up. The median home price rose, to $177,900. What happens in 2010 depends on whether the market can stand on its own.
The big test comes this spring. The Federal Reserve says it will stop buying mortgage-backed securities by the end of March, a program that has helped make home loans more affordable and spurred sales. The market may also suffer a setback if the central bank hikes interest rates, as some economists predict. With foreclosures expected to jump, Moody’s (MCO) Economy.com estimates home values will fall 7.8% in 2010.”CLICK HERE TO READ THE ENTIRE 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.
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Three Honolulu Houses & Four Condos For Sale
December 21st, 2009 categories: Condos For Sale, For Buyers, Homes For Sale
Here are seven new listings that have just come on the market. Out of everything that has come on the market in the last 3 days, they look the most interesting. Check them out.
Honolulu Homes
Stunning Diamond Head home. Completed earlier this year it has everything you would want and more! Why dream when you can have it now! Price $9,500,000. CLICK HERE FOR FACT SHEET.
Aiea Heights developers dream. Home needs a great deal of tender loving care, but it may be worth rebuilding. Price $785,000. CLICK HERE FOR FACT SHEET.
Mililani first time buyer special. Hard to find a 3 bedroom 2 bath at a price of $519,000. CLICK HERE FOR FACT SHEET.
Honolulu Condos
If you work downtown, this condo would allow you to walk to work. This is a short sale. 2 bedrooms 2 baths and 1 parking stall. A building with almost all of the amenities you would want. Price $449,000. CLICK HERE FOR FACT SHEET.
Walk to Ala Moana Shopping Center, Walmart, the convention center and much more. 2 bedrooms with 2 baths and 1 parking. Priced to sell at $398,000. CLICK HERE FOR FACT SHEET. 
In the heart of Waikiki! Unbelievable price of $340,000 for a 2 bedroom 2 bath. Don’t wait this one won’t last. CLICK HERE FOR FACT SHEET.
A 2 bedroom 2 bathroom downtown for $279,000 fee simple? You aren’t hallucinating! This condo is central to everything downtown. Why drive when you can walk? CLICK HERE FOR FACT SHEET.
Other real estate companies offer these listings for sale and I can represent you. Email me at keahi@lava.net or call me at 808-398-3220 and let’s schedule a time to see one of the properties.
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A Honolulu House & Three Condos For Sale
December 18th, 2009 categories: Condos For Sale, For Buyers, Homes For Sale
Here are four new listings that have just come on the market. Out of everything that has come on the market in the last 24 hours, they look the most interesting. Check them out.
Honolulu Home
Hahaione Valley view home. Perfect for 2 family living as it has two of everything a family needs for privacy. 10 bedrooms and 6 bathrooms. 2 two car garages. Built in 2008. Price $1,500,000. CLICK HERE FOR FACT SHEET.
Honolulu Condos
Rarely available Regency at Kahala. 2 bedroom 2 bathroom, corner unit, with a huge 1,610 square feet of interior space. One of the few buildings in Honolulu with a doorman. Listed for $795,000. CLICK HERE FOR FACT SHEET.
Diamond Head Vista high floor with insanely fabulous views. 2 bedrooms, 2 bathrooms and 1 parking. Walk to beach, Waikiki, zoo, tennis and much, much more. Priced at $495,000. CLICK HERE FOR FACT SHEET.DIAMOND HEAD VISTA
Country Club Village 3 bedroom with 2 bathrooms and 2 parking. Known for solid and quiet poured cement construction. The unit and over-all project are terrific value for $489,000. CLICK HERE FOR FACT SHEET.
Other real estate companies offer these listings for sale and I can represent you. Email me at keahi@lava.net or call me at 808-398-3220 and let’s schedule a time to see one of the properties.
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Four Honolulu Houses & Five Condos For Sale
December 17th, 2009 categories: Condos For Sale, For Buyers, Homes For Sale
These 9 Honolulu listings came on the market between yesterday and today. For various reasons the all look like good values. Check them out.
Honolulu Homes
Waialae Golf Course. 4 bedrooms and 5.5 bathrooms. Large (by Oahu standards) 4,525 square feet of living area. 193 linear feet fronting on the 10th fairway. Top of the line in every fashion. Built in 2006. Price $5,880,000. CLICK HERE FOR FACT SHEET.
Classic Diamond Head! Overlooking Blackpoint. 4 bedrooms, 3 full baths & 3 half baths. Swim in your pool and love the great location. Priced at $2,350,000. CLICK HERE FOR FACT SHEET.
Kahala Kamaaina Special. 3 bedrooms and 3 bathrooms with a pool. Large 11,369 square foot lot. At $1,195,000 this one won’t last. CLICK HERE FOR FACT SHEET.
Newtown 3 bedroom and 2 bathroom. $570,000. Perfect for first time buyer or person moving from condo. CLICK HERE FOR FACT SHEET.
Honolulu Condos
Yacht Harbor Towers. 1,324 square foot 2 bedroom/2 bathroom with 2 parking. High floor with insane views. Listed for $820,000. CLICK HERE FOR FACT SHEET.
Walk to Saint Louis School, Chaminade University or University of Hawaii. 2 bedrooms, 2 bathrooms and 2 parking. Good views. Hard to find a unit like this priced for $485,000. CLICK HERE FOR FACT SHEET.
Walk to Ala Moana Shopping Center, Waikiki or the convention center. 2 bedroom, 2 bathrooms with 1 parking. Hard to believe a price of $399,000. CLICK HERE FOR FACT SHEET.
I didn’t think it was possible, but here is a Waikiki 2 bedroom 2 bathroom with 1 parking for $359,000. Hurry while it is still available. CLICK HERE FOR FACT SHEET.
Diamond Head 2 bedroom for $345,000? Yes it is true! Walk to Kapiolani Park, Waikiki, The Shell, the beach, dining and more. CLICK HERE FOR FACT SHEET.
Other real estate companies offer these listings for sale and I can represent you. Email me at keahi@lava.net or call me at 808-398-3220 and let’s schedule a time to see one of the properties.
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Kailua House and Three Honolulu Condos
December 16th, 2009 categories: Condos For Sale, For Buyers, Homes For Sale
Here are four listings that have come on the market within the last two days. Check them out.
Kailua Home
Honolulu Condos
Very close to down town, 2 bedooms, 1 bathroom, remodeled in 2004, $239,000
2 bedroom, 2 bathroom, built in 1194, 2 parking stalls, extra large lanai, $439,999.
Other real estate companies offer these listings for sale and I can represent you. Email me at keahi@lava.net or call me at 808-398-3220 and let’s schedule a time to see one of the properties.
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Nearly Dead Honolulu Condo Springing Back To Life!
December 15th, 2009 categories: Condos For Sale, The Market
Pacific Business News is reporting that the once shuttered Moana Vista Condominium project on Kapiolani Boulevard is coming back to life with a new owner and name. I like the simplicity of “Pacifica” it’s new name. The new owner, OliverMcmillan, is redesigning the units and commercial areas. The best news comes from the company’s founder, Morgan Dene Oliver.
“The public will “also get a chance to buy at what we believe is a bargain price,” Oliver said. It’s a competitive construction market,” he noted. “We will finish this building at a better cost.” CLICK HERE TO READ THE ENTIRE ARTICLE
Given the risk that OliverMcmillan has taken, I hope they hit a home run with the Pacifica.
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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VA Loan Limits Change For Honolulu and Hawaii
December 14th, 2009 categories: For Buyers, Military
I just received an email notifying me of a change in the maximum VA loan amounts for Hawaii. Read the rest of this entry »
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Sellers Having To Cut Less, Could The Tide Be Turning?
December 11th, 2009 categories: For Buyers, For Sellers
The Honolulu Advertiser had an article earlier in the week that said Trulia.com’s recent report showed Honolulu sellers were making fewer price reductions than many other parts of the country.
“The firm reported price reductions are becoming less commonplace across the country, with Honolulu being among the leaders in less price cuts. It said between June and December the number of listings having recorded at least one price cut fell by 23 percent.”
CLICK HERE TO READ THE HONOLULU ADVERTISER ARTICLE
Hind sight will be 20/20, however, I am starting to sense that the window of opportunity for finding good low priced buys in core Honolulu homes and condos is closing or has already closed. Whether inventory will remain low after the first of the year is yet to be seen, but if it does not rise, buyers that did not buy in 2009 may look back at the year as an opportunity missed.
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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