Honolulu Real Estate Views » For Buyers

Buyers Of Hawaii Oceanfront Properties Beware!

Keahi Pelayo — Mon, 16 Aug 2010 16:36:42 +0000

If you are thinking about buying an oceanfront home or parcel be sure to do your homework. There has always been a large set back from the waterfront property line and determining the location of this mark has required a Special Management Area (SMA) survey. The Honolulu StarAdvertiser is reporting a clarification and change in the SMA Rules.

“The proposed change would establish the setback line about 40 feet from the certified shoreline, plus 70 times the average annual coastal erosion rate. The city and University of Hawaii is working on establishing that rate, said Samuel Lemmo, administrator for the state Office of Conservation and Coastal Lands, which oversees about 2 million acres of private and public lands in the state Land Use Conservation District.” CLICK HERE TO READ THE ENTIRE ARTICLE

Given the importance of determining the certified shoreline, BEFORE CLOSING AN OCEANFRONT SALE, a buyer should get a valid and approved SMA survey on any ocean front property. If you don’t get it or decide to make improvements on your lot, you may are exposing yourself to serious penalties and problems. Ironically, a few days after the article above was posted, The Maui News posted an article about the largest fine ever paid for violating SMA rules.

“The largest fine for shoreline setback encroachments ever imposed by Maui County was approved as part of a settlement agreement by the Maui Planning Commission on Tuesday. Larry and Sara Dodge, of Rancho Santa Fe, Calif., and Makena, will pay $65,000 to settle four county violations, remove a wall and seek after-the-fact permits for repairs done to their deck.” CLICK HERE TO READ THE ENTIRE ARTICLE

If you are a seller of an oceanfront property, it is a good idea to get your SMA survey in advance. This way you can show the buyer exactly where the line is and where they can place the home they want to build. Furthermore, because getting the survey can take a few years, getting it up front will save time and head ache.

SEARCH FOR YOUR HONOLULU HOME

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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Buying REO’s & Bank Addenda

Keahi Pelayo — Wed, 30 Jun 2010 16:00:00 +0000

After a buyer makes an initial written offer on an REO much of the negotiation process is handled via email or verbally. Once a price is agreed upon then the REO Company will issue their particular form of many-paged addendum. If at all possible, try to get it in advance because they can hold surprises. Today’s video blog discusses how to plan for this process.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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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How To Make Disclosures

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Sellers Get Your Surveys In Advance

Get It Right! Call It A Purchase Contract!

Keahi Pelayo — Wed, 23 Jun 2010 20:03:20 +0000

I’ve been in the real estate business since 1983 and for most of that time the contract in Hawaii was called a DROA, however, the name has changed and it is import for you to be sure that your contract uses the new name.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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.

More Video Blogs

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Buying A Home? Don’t Buy Anything Before You Close

Keahi Pelayo — Fri, 18 Jun 2010 20:16:31 +0000

Excitement is in the air! You’ve just made an offer on a Honolulu home or condo and the offer was accepted! Dreams of sugarplums, furniture and paint are dancing in your head. You can’t wait to furnish and make this house your humble home, don’t let your enthusiasm blow the deal. The Los Angeles Times online recently reported that lenders are very wary of buyers buying incidentals on credit.

“The last-minute credit report will be designed to find out whether you’ve obtained — or even shopped for — new debt between the date of your loan application and the closing. If you’ve made applications for credit of any type — for furnishings and appliances for the new house, a car, landscaping, a home equity line, a new credit card — the closing could be put on hold pending additional research by the lender.

If you’ve taken out new loans that are sizable enough to affect the debt-to-income ratio calculations used in your original mortgage approval, the deal could fall through. The added debt load could render you ineligible for the mortgage because you suddenly appear unable to handle the payments without a strain on your household budget.”

CLICK HERE TO READ THE ENTIRE ARTICLE

Here’s the point. Hold your horses, slow down and don’t buy anything before the sale closes and you’re the owner of the property. If you lose discipline and buy that brand new leather sofa set with beautiful granite and glass coffee, then you could end up having to move the new furniture into your existing rental, because the lender could deny your home loan.

SEARCH FOR YOUR HONOLULU HOME

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.

Waikiki 2 Bedroom 2 Bath Condo

Keahi Pelayo — Thu, 27 May 2010 21:30:07 +0000

The Pamaikai Condominium is located at one of the gateways to Waikiki. It is walking distance to the Ilikai Apartments, Hilton Hawaiian Village, Fort Derussy, the Hawaii Convention Center and Ala Moana Shopping Center. With 2 bedrooms, 2 bathrooms and one covered parking stall it is hard to find this type of unit at this price. Add to the equation that there are only 2 units per floor and you may find that this building offers the privacy you are looking for. Note that this is a leasehold condominium, however, in the past the landowner has offered the land for purchase.

Price: $188,000 (lh)

Bedrooms: 2

Full Bathrooms: 2

Square Footage: 1,189 including the lanai area

Monthly Maintenance Fee: $542

Parking: 1 covered parking stall

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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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Moanalua School District 3 Bedroom House For Sale

Keahi Pelayo — Thu, 27 May 2010 19:01:25 +0000

There are few public school districts on Oahu that people try to live in and this is one of them. Why pay private school tuition when you student can attend Moanalua High School? Located at the back of Moanalua Valley in a private cluster of CPR’d homes, not only is this 3 bedroom 2 bathroom home (note that the shower in the master was added without a permit) a terrific place to live but it is literally minutes from Fort Shafter, Hickam Air Force Base, Pearl Harbor, Tripler Army Medical Center and down town Honolulu. Why fight traffic when you can be so close to everything at such a reasonable price.

Price: $525,000

Bedrooms: 3

Full Bathrooms: 2 (note that the shower in the master was added without a permit)

Extra room: 1 under the house that is used as storage or could be converted into a workshop

Interior Square Footage: 1,008

Lot Square Size: 4,158 square feet

Monthly Maintenance Fee: $250

Covered Parking Stalls: 2 in carport, additional parking in front of carport and guest parking near entry

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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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New House Listing-Serene Setting Yet Close

Keahi Pelayo — Wed, 26 May 2010 19:42:51 +0000

This home can be found just outside Kaneohe town in an area called Ahuimanu. Because of its 4 bedrooms, 3 bathrooms and bonus room, it is perfect for a large family, some who needs lots of rooms or extended family living. Located at the foot of the Koolau mountains this home has a “country” feel, yet is minutes away from shopping, dining and entertainment. Furthermore, there are three different convenient freeway routes available to get to downtown Honolulu or the various military bases. Watch the video below to get a real sense of this home.

Price: $599,000

Bedrooms: 4

Full Bathrooms: 3

Extra room: 1

Interior Square Footage: 1,920

Lot Square Size: 10,014 square feet

Covered Parking Stalls: 2 carport stalls, driveway and street parking too.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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.

More Video Blogs

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Parkview Condominium

Waikiki Condo Offers Location, Privacy & Value

Keahi Pelayo — Tue, 25 May 2010 19:17:34 +0000

The Parkview Condominium in Waikiki is one of the areas best kept secrets. It is located at the end of the small and exclusive feeling Makee Street, which means there is almost no traffic immediately in front of the building. Combine this block away from Waikiki location with the luxury of only 4 units per floor, and it is understandable why the picky buyer would like this nest. Two lanais off of the open and large living room provide excellent natural lighting, views and cross breezes. I can’t call it a 3-bedroom condo, but the very functional den provides additional space for an office, family room or let your imagination run wild. All in all, this is a very special home in a terrific well-positioned Honolulu condominium.

Price: $549,900

Low Maintenance Fee: $428 per month

Bedrooms: 2

Full Bathrooms: 2

Square Footage: 1,102 including the lanais

Covered Parking: One very large full size stall

Lanais: Two lanais off of the living room

Views: Waikiki, Diamond Head, Honolulu city lights, ocean, Koolau mountains an much more.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

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.

More Video Blogs

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Opposition To New Construction Will Increase Prices

Keahi Pelayo — Mon, 24 May 2010 21:40:38 +0000

Time and again I have stated that I believe Honolulu property prices will rise over the middle to long term. A recent article in the Honolulu Advertiser shows the opposition that almost all new development faces on Oahu. What opponents seem to miss is that by slowing growth, they increase demand and therefore inadvertently increase the cost of housing.

“A few hundred voices, largely in opposition to the project, were added to the record in the case in which Castle & Cooke Homes is seeking approval to urbanize 768 acres of prime farmland between Mililani and Waipi’o for development of 5,000 new homes, a 28-acre medical campus, a 150-room hotel, parks, two elementary schools and nearly 500,000 square feet of commercial space for retail, offices and light industrial businesses.”

CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE

Note that they are talking about adding 5,000 new homes to a market that could probably absorb every single one. Here’s my bet. This project will take five to ten more years before they get approvals to build. Therefore, our housing supply will continue to shrink and that means demand will continue to strengthen. This excess demand will add value to existing homes. If you own now, expect your home to be worth significantly more 10 years from now. If you don’t own yet, then buy what you can afford (house or condo) to get into the market, because if you don’t, you may not be able to buy as prices rise.

SEARCH FOR YOUR HONOLULU HOME

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.

More Video Blogs

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Honolulu Vintage Home For Sale

Keahi Pelayo — Thu, 20 May 2010 19:58:02 +0000

It is refreshing to tell you about a newly listed vintage Honolulu home. This charmer can be found in the Puunui area of Nuuanu which means it is centrally located to just about everything in town. Add to this the fact that it places you smack dab in the middle of the Maemae Elementary School district and you may want rush over and see it.

Price: $799,000

Bedrooms: 3

Full Bathrooms: 2

Interior Square Footage: 1,859

Parking: 1 car Garage, more parking in drive way

Lot Size: 8,600 square feet

Click here to view the embedded video.

CLICK HERE FOR AN MLS FACT SHEET

SEARCH FOR YOUR HONOLULU HOME

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.

More Video Blogs

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

Buying more might make your retirement better

Under New Rules-Lenders Even More Important

Sellers Beware Of Company Addenda

Sellers Get Your Surveys In Advance

Are Realtors Paid Too Much?