Archive for February, 2010
Bernanke’s Attitude Pointing To Buying Honolulu Real Estate
February 10th, 2010 categories: Rants & Riffs, The Market
The New York Times online is reporting that Fed Chair Ben Bernanke is looking for ways to slow the economy.
“Increasing that interest rate, he said, will have the effect of pushing up other short-term interest rates, including the benchmark fed funds rate – the rate at which banks lend to each overnight.
It is even possible, Mr. Bernanke said, that the Fed “could for a time use the interest rate paid on reserves, in combination with targets for reserve quantities,” to communicate its policy stance to the markets. Since 1994, the fed funds rate has been the much-watched centerpiece of statements by the Federal Open Market Committee, the Fed’s key policy-making arm.” CLICK HERE TO READ THE NEW YORK TIMES ARTICLE
Why would Ben want to slow the economy? Could it be that he sees the “I” word on the horizon? I believe he is concerned about inflation. If inflation kicks in you may want to put your money into assets that appreciate. Real property is a terrific place to consider.
More specifically, you may want to consider buying a Honolulu home or condo as a rental property. Here are the potential benefits.
1. It gives you a hedge against inflation.
2. There is a very limited supply of developable land and, therefore, the lack of possible new housing in core Honolulu means our market is less susceptible to significant value drops.
3. Demand for housing in Honolulu’s core has never been met. Things that slow our market are lack of financing, high prices and fear (the first Iraq war & last year’s financial upheaval as examples).
4. If you are sitting on cash, after the cost of managing and maintaining a rental property you may receive a better return on investment that you could receive from putting your money in the bank.
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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All FHA Lenders Are Not Created Equal!
February 10th, 2010 categories: Mortgages & Financing
The FHA Condo Approval process changed on February 1st, 2010 and choosing the right lender could be the difference between getting the Honolulu home you desire or losing it to a stronger buyer.
Consider the two differ type of FHA lender approval process:
HRAP- Department of Housing and Urban Development Review & Approval Process. After making your loan application it will be reviewed by the Department of Housing and Urban Development in Santa Ana, California. This will take from 6 to 8 weeks.
DELRAP- Direct Endorsement Lender Review and Approval Process. This option is only available to lenders who have unconditional Direct Endorsement (DE) authority. Wells Fargo’s experience and expertise qualifies it as Direct Endorsement lender. As a DE Lender, I am able to reduce your FHA condo approval process to two weeks, thus putting you in a position to close more quickly and compete well for the good properties.
I’m Tim O’Leary, Private Mortgage Banker with Wells Fargo Home Mortgage of Hawaii, please feel free contact me at 808-227-1199 to discuss your specific mortgage needs. CLICK HERE TO START THE APPLICATION PROCESS.
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Two Honolulu Condos For Sale
February 10th, 2010 categories: Condos For Sale, For Buyers
Here are two Honolulu condos that came on the market overnight. Feel free to call me at 808-398-3220 to discuss any of them; I can represent you as they are listed with other real estate firms.
Honolulu Condos
Consulate 2 bedroom 1-bathroom with 1 parking. Floor to ceiling windows offer terrific city views. Washer/dryer in the apartment. Central to Punahou, Mary Knoll, Ala Moana, Waikiki and down town. $398,000. CLICK HERE FOR FACT SHEET.![hr1002248-2[1]](http://honolulurealestateviews.com/files/2010/02/hr1002248-21.jpg)
Wailana at Waikiki 2 bedroom 2-bathroom with 1 parking stall. Large 1,188 square foot interior with large 124 square floor lanai. Walk to the beach, dining, entertainment and more. $338,000 (lh). CLICK HERE FOR FACT SHEET.![hr1002170-9[1]](http://honolulurealestateviews.com/files/2010/02/hr1002170-91.jpg)
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Three Honolulu Houses For Sale
February 10th, 2010 categories: For Buyers, Homes For Sale
Here are three listings that have come on the market in the last 24 hours. Feel free to call me, Keahi Pelayo, at 808-398-3220 if you would like to see any of these Honolulu homes. These are listed for sale by other companies and I can fully represent your interests.
Honolulu Homes
Kamehameha Heights 2 bedroom 2.5-bathroom with nice views from balcony. 2004 remodel of roof, oak floors, kitchen, plantation shutters, & more. New split a/c, custom drapery, closet system, solar heater & fence. Downstairs can be used as 3rd bedroom or living room. Large, flat, private backyard with fruit bearing trees (mango, lychee). $699,000. CLICK HERE FOR FACT SHEET. ![hr1002245-3[1]](http://honolulurealestateviews.com/files/2010/02/hr1002245-31.jpg)
Lanikai 5 bedroom 3-bathroom with 2,504 square feet of living area. Large level 11,433 square foot lot, treetop ocean and Mokulua Island views. Professionally landscaped with a large plantation-style deck. Newer roof and copper gutters, kitchen and baths remodeled. Secluded hillside setting with trade winds breezes. Walking distance to the beach. $1,595,000. CLICK HERE FOR FACT SHEET.![hr1002236-4[1]](http://honolulurealestateviews.com/files/2010/02/hr1002236-41.jpg)
Prime Kahala home on Aukai Avenue. Stunning Island estate in coveted location, truly one of a kind! Gorgeous single level home with 5 bedroom suites, expansive living spaces and lots of beautiful custom detailing. Dream kitchen. Pool with waterfall, this is a truly Hawaiian setting. Priced at $4,800,000. CLICK HERE FOR FACT SHEET.![hr1002231-1[1]](http://honolulurealestateviews.com/files/2010/02/hr1002231-11.jpg)
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Two Honolulu Condos For Sale
February 9th, 2010 categories: Condos For Sale, For Buyers
Here are two Honolulu condos that came on the market overnight. Feel free to call me at 808-398-3220 to discuss any of them; I can represent you as they are listed with other real estate firms.
Honolulu Condos
Summer Villa 1 bedroom 1-bathroom with great views. Totally remodeled in 2007 with new granite countertops, cabinets, toilet & bathtub. Great amenities include secured entries for parking garage, building entrance, pool and pets allowed. $295,000. CLICK HERE FOR FACT SHEET.![hr1002099-1[1]](http://honolulurealestateviews.com/files/2010/02/hr1002099-11.jpg)
Royal Capital Plaza 2 bedroom 2-bathroom. Rarely available corner unit with enjoyable ocean views from every room. Conveniently located near downtown, shopping center & bus lines. Almost $30,000 in renovations include new appliances, a/c’s, window tinting, paint, ceiling fans, closet organizers and more. $454,000. CLICK HERE FOR FACT SHEET.![hr1002115-3[1]](http://honolulurealestateviews.com/files/2010/02/hr1002115-31.jpg)
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Two Honolulu Houses For Sale
February 9th, 2010 categories: For Buyers, Homes For Sale
Here are two home listings that have come on the market in the last 24 hours. Feel free to call me, Keahi Pelayo, at 808-398-3220 if you would like to see either of these Honolulu homes. These are listed for sale by other companies and I can fully represent your interests.
Honolulu Homes
Makiki Heights 4 bedroom 2.5-bathroom home on a 4,276 square foot lot. The main living area graciously opens up to a huge open deck with amazing Diamond Head, city & ocean views. This home was remodeled from 2008 to 2010 with a brand new kitchen, bathrooms, interior paint, bamboo floors, tile, expanded sliding doors to your fabulous entertainment deck & more. $699,000. CLICK HERE FOR FACT SHEET.![hr1002163-3[1]](http://honolulurealestateviews.com/files/2010/02/hr1002163-31.jpg)
Diamond Head 6 bedroom 6.5-bathroom home with 3,408 square feet of living area. Wonderful island style home that opens to a calming Asian inspired courtyard. Flexible floor plan with main home of 4 beds/4 baths & separate 2 bed/2 bath apartment, great for extended family or guests. Lovely stone throughout, light and bright kitchen, sparkling pool, all nestled at the foot of Diamond Head. $2,275,000. CLICK HERE FOR FACT SHEET.![hr1002154-8[1]](http://honolulurealestateviews.com/files/2010/02/hr1002154-81.jpg)
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New Honolulu Condo Is Selling Well!
February 9th, 2010 categories: Condos For Sale, The Market
Good news the Honolulu Advertiser is reporting the following.
“OliverMcMillan, the new developer of the partially built Pacifica condominium tower in Kaka’ako, reported selling 138 units over the weekend. The results, when added to 108 sales earlier to people whose reservations had been canceled by the tower’s previous developer, bring 67 percent of its market units under contract.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE.
Even though these results are for a new condo, they echo results I am seeing in the balance of the Honolulu real estate resale 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: 1 Comment »
Real Estate Underdog Fighting For All Of Us!
February 8th, 2010 categories: Rants & Riffs
Your right to own and control your property is one of the key constitutional rights that the founders of the United States wanted to assure through the constitution.
Since I am in real estate everyday, I see how our property rights are constantly challenged by governmental agencies a the necessity for them to approve of the things that we do with our land. The Maui News is reporting that a landowner on the Valley Isle has had enough and is challenging the County of Maui’s twice denying him a water meter for his 2.2-acre lot.
“Through his attorney, James Fosbinder, Davis is asserting constitutional claims of uncompensated taking and violation of equal protection and due process. The claims attack the validity of the Upcountry water meter waiting list and, potentially, East Maui Irrigation Co.’s access to water for Hawaiian Commercial & Sugar Co.” CLICK HERE TO READ THE ENTIRE MAUI NEW ARTICLE
Mr. Fosbinder deserves our support and prayers because should he win this suit, a blow will have be struck against the tide of regulation that has been slowly eroding our property rights.
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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The Kooks Are Targeting Real Estate For Tax Increases!
February 8th, 2010 categories: Rants & Riffs, The Market
Every January Honolulu taxpayers should be very concerned because the Hawaii State Legislature goes into session. If you have been watching the news you might be aware that all levels of Government are experiencing revenue short falls. Rather than curbing spending, the majority of our elected officials are marching lockstep toward raising taxes to cure the problem they created. Today’s Pacific Business News is reporting that representative Rida Cabanilla is proposing to levy a new tax of 1% of any commercial or residential property sale.
“The proposed tax, which would take effect July 1 and sunset after five years, would be on the gross proceeds of a sale, minus a real estate salesperson’s commission and conveyance tax, and would apply to both commercial and residential properties.” CLICK HERE TO READ THE ENTIRE PACIFIC BUSINESS NEWS ARTICLE.
I am not going to bore you with all of the reasons that this proposal is bad for real estate and the Hawaiian economy. Unfortunately, Hawaii’s governmental officials are blind to the idea that they need to decrease spending first. Then they need to reduce taxes so those of us that work at expanding the economy and jobs, can help to grow the state out of economic doldrums. 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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Two Honolulu Condos For Sale
February 8th, 2010 categories: Condos For Sale, For Buyers
Here are two Honolulu condos that came on the market over the weekend. Feel free to call me at 808-398-3220 to discuss any of them; I can represent you as they are listed with other real estate firms.
Honolulu Condos
Vangaurd Lofts 2 bedroom 2-bathroom with 2 parking, 1,329 square feet of living area and a 333 square foot lanai. Central location puts down town, Honolulu Hale and Queens within walking distance. $950,000. CLICK HERE FOR FACT SHEET.![hr1002079-2[1]](http://honolulurealestateviews.com/files/2010/02/hr1002079-21.jpg)
Yacht Club Knolls 3 bedroom 2-bathroom with 2 parking stalls. Large 1,489 square foot Cutter model. Private end unit in excellent condition with lots of upgrades. Spacious upper level lanai off living room and master bedroom. Downstairs bedrooms open to the large fenced courtyard. $475,000. CLICK HERE FOR FACT![hr1002086-3[1]](http://honolulurealestateviews.com/files/2010/02/hr1002086-31.jpg)
SHEET.
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