Archive for December, 2009
Economic Seers See Honolulu Bottom
December 10th, 2009 categories: For Buyers, For Sellers
This morning, I attended a breakfast sponsored by the Honolulu Chapter of the NAIOP (The National Association of Industrial and Office Properties) the speakers were two of Hawaii’s preeminent economists Byron Ganges and Paul Brewbaker. I found their views on 2010 hopeful and refreshing. Mr. Ganges spoke on the macro-global economy and Brewbaker addressed the local fiscal situation. Here is the redacted version of the essence of their presentations (note that I am paraphrasing and these are not direct quotes). Read the rest of this entry »
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Is Roost To Nesting In Honolulu Real Estate?
December 9th, 2009 categories: For Buyers, For Sellers
Pacific Business News is reporting that Roost.com, a new real estate search engine, is launching its service in Honolulu. I was excited to see what Roost is bringing to the game and went to play with their site. Guess what? I couldn’t find Honolulu searches on their home page! Either I am blind or they were premature on their announcement.
“A California-based home-finding search engine said it has picked up the Honolulu residential market. Roost.com, a search engine for finding homes, said Honolulu is one of 11 markets across the country it has launched its service, said a news release.”
CLICK HERE TO READ THE PACIFIC BUSINESS NEWS ARTICLE
Here is the lesson. Don’t announce something until it is ready to run. As a Honolulu real estate broker, my view of the company changed when their site was not consistent with their press release. Sometimes it is better to be patient and have everything operational before an announcement is made.
In the meantime, if you are looking for specific market data, call me 808-398-3220, or email me at keahi@lava.net, and I will be happy to get it for you.
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Is The Flipping Market Coming Back To Honolulu?
December 8th, 2009 categories: Homes For Sale
Today’s Wall Street Journal on-line had an article regarding a new type of real estate investor that is buying distressed properties and then re-selling them at a profit (thus they are called flippers).
“Now, a different breed of flipper is proliferating: one who seeks bargains at foreclosure auctions. Unlike the boom-time flippers, the latest generation needs cold cash, lots of local-market knowledge and strong nerves.”
CLICK HERE TO READ THE ENTIRE WALL STREET JOURNAL ARTICLE.
Is the Honolulu real estate market poised to see a gaggle of flippers jumping into the market (we saw many playing in the last up cycle)? We may see a few getting into the game, but I don’t think we will see the volume that were playing in 2004, 2005 and 2006. Here is why. Read the rest of this entry »
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Rare Two-Floor Honolulu Condo Penthouse
December 7th, 2009 categories: Mortgages & Financing
Here is a penthouse unit for the person who wants insane views of Honolulu, city lights and the Koolau mountains. Centrally located in Waikiki on the Ala Wai canal, just across the McCully bridge. The following are the details of the unit.
Price: $625,000
Building: Hawaiian Monarch
Address: 444 Niu Street Street, Honolulu, HI 96815
Bedrooms: One (1), there is a loft on the 45th floor that could be used as an office or second bedroom. Read the rest of this entry »
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Guru Calls Bottom In Honolulu Real Estate
December 4th, 2009 categories: For Buyers, For Sellers
The Honolulu Star Bulletin is reporting that Paul Brewbaker, former Bank of Hawaii chief economist, has called a bottom in “Oahu’s Housing Market”. Over the years I have learned to trust Paul’s opinions, because he has predicted so many other upturns and down turns in Honolulu’s home and condo markets.
“This is not the first time Brewbaker has gone out on a limb. He raised eyebrows in 2003 with a prediction that Oahu’s median home price would surpass $600,000 in the last cycle. In fact, the market topped out just shy of $645,000 in 2007, he said. Brewbaker said Oahu’s housing market has bounced off an artificially low bottom associated with the financial panic of 2008 and has begun to “rebound into a stabilization phase that will run through 2012.” CLICK HERE TO READ THE ENTIRE POST
Tie Paul’s call in with the Honolulu Board of Realtors latest positive statistical report and we may be able to expect a good 2010!
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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Interest Rates Hit All-Time Low!
December 3rd, 2009 categories: For Buyers, Mortgages & Financing
The Chicago Tribune is reporting that mortgage interest rates have hit an all-time low.
“The average interest rate for a 30-year mortgage dropped to Read the rest of this entry »
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More Analysis Of The Honolulu Real Estate Stats
December 2nd, 2009 categories: For Buyers, For Sellers
I haven’t seen anything posted by the Honolulu Advertiser or Honolulu Star Bulletin regarding the recently released November Honolulu Board of Realtors statistical report, however, it is going to be fun to read how they spin the information. From my perspective, it is the best report that I have seen in over a year. Other than a miniscule drop in the median sales price of houses, all of these numbers look great!
Below is a summary of the salient statistics. Read the rest of this entry »
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Honolulu Home Inventory Down To 2005 Levels!
December 1st, 2009 categories: For Buyers, For Sellers
I just did a quick review of the latest Honolulu Board of Realtors statistical report (it was released at 7:45 tonight) and I was surprised to see a drop in available single-family home listings to 1,199. Let me put this in context, we started the year at 1,903 houses for sale! This is the lowest level of available single-family homes since August of 2005 (when 1,060 homes were for sale). Who knows what this means, but I think it is great news!
CLICK HERE FOR A COPY OF THE REPORT
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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Big Brother Is No Joke!
December 1st, 2009 categories: Rants & Riffs
Realtors not only sell homes, but we are one of the prime protectors of private property rights. The Supreme Court’s “Kelo” decision of 2005 opened the door for government to take private property for private use and now a decision in New York relies on this case to take land for a new NBA arena.
“The decision is a blow to private-property owners who have argued that they are defenseless in protecting their ownership rights once a government deems their land necessary for eminent domain, or the “public good.” But it boosts developers and government entities in New York that have sought to boost local economies by offering incentives for private developers.
The court’s decision echoes one handed down by the U.S. Supreme Court in 2005, when the justices found it was constitutional for a New London, Conn., economic-development corporation to seize private homes and businesses to build a research campus for Pfizer Inc. That decision, Kelo v. City of New London, Conn., set off a firestorm of protest, prompting many lawmakers around the country to amend laws to prevent governments from seizing private land in some cases. New York, however, didn’t change its constitution.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE
Eminent domain has traditionally been used for taking private property for public uses (roads, highways, parks, etc.), but “Kelo” is a threat to our constitutional right to private property. Let’s hope that a new supreme court will reverse this destructive decision. Think about it.
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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Okoles In The Air Good For Hawaii
December 1st, 2009 categories: Rants & Riffs
The Honolulu Advertiser is reporting an increase in the in the number of airlines seats available for tourists to come to Hawaii.
“In what could provide a much-needed boost to tourism this winter, the state is projecting a modest increase in the amount of airline seats on flights to Hawai’i from December through February.”
CLICK HERE TO READ THE HONOLULU ADVERTISER ARTICLE
I don’t know, but could the airlines may see a trend for more interest by tourists to travel to Hawaii? This would be good for Honolulu and our job market and, thus, good for real estate.
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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