Archive for the 'For Buyers' Category
Opposition To New Construction Will Increase Prices
May 24th, 2010 categories: For Buyers, The Market
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.
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
Honolulu Home Median Price of $1,000,000
Buying more might make your retirement better
Sellers Beware Of Company Addenda
Sellers Get Your Surveys In Advance
| Discussion: No Comments »
Honolulu Vintage Home For Sale
May 20th, 2010 categories: For Buyers, Homes For Sale, Video For Buyers
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 FOR AN MLS FACT SHEET
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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
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
| Discussion: No Comments »
Bankruptcy Court Sells Waikiki Condo
May 19th, 2010 categories: For Buyers, Video For Buyers
Here is a new listing I have just taken at the Marine Surf Waikiki. All of the recent sales of similar units have sold for more than $200,000 and this one if priced at $189,000. It has covered parking and very nice common areas. Hurry, because it won’t last.
Price: $189,000
Bedrooms: Studio
Full Bathrooms: 1
Square Footage: 448 (392 interior, plus 56 lanai)
Covered Parking Stalls: 1 very close to the elevator
Views: Open views of Waikiki night lights. The nearest building is farther away than normal and the unit feels very private.
http://www.vimeo.com/11878342CLICK HERE FOR AN MLS FACT SHEET
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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
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
| Discussion: No Comments »
Bopped By A Lead Pipe?
May 19th, 2010 categories: For Buyers
If you are buying old Honolulu homes or condos for rehab or remodel, then you want to pay attention to this blog post. Many sources have been reporting new EPA rules regarding working with older paints and products that contain lead. A recent Wall Street Journal article does a really good job of outlining the potential cost issues associated with the changed rules.
“To comply with the new regulation, those working on older sites will need to invest in lead-testing kits, plastic sheeting, respirators, protective clothing and other lead-safety materials.”
“At least one worker involved in such projects will also need to become certified, at a cost of $300 every five years, and pay out-of-pocket for eight hours of training. Those who don’t comply could face fines up to $37,500 a day.”
“But small businesses with limited cash flow, including home-repair providers, property-management firms and even landlords, say that while they support the ruling’s health benefits, they are concerned about its costs.” CLICK HERE TO READ THE ENTIRE ARTICLE
Given the additional cost of abating a lead problem, you will want to budget for determining if there are lead issues in a potential investment. Once they are known, then you can make accurate removal cost estimates, that could be quite substantial, if you have to fully comply with these rules.
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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
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
| Discussion: No Comments »
Improving Tourism-Good Sign For Honolulu Real Estate
May 11th, 2010 categories: For Buyers, The Market
The Honolulu Advertiser is reporting some very good news about the Hawaii tourism market.
“Average statewide occupancy rose to 70.6 percent in March from 65.2 percent a year earlier. Occupancy has increased in six out of the past seven months. But with deep discounting, hotels hadn’t been able to post an increase in revenue per available room — until March.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
This is just another bit of good news that points to an improving economy. As markets get healthier, the job market should get well and real estate should move in concert. Combine this good news with good prices and low interest rates and it may be the time for Honolulu home buying fence sitters to buy. Here is a caveat, buy within your means and plan on living in the home for at least 3 years or longer.
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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
| Discussion: No Comments »
Honolulu Penthouse With Private Elevator
May 10th, 2010 categories: For Buyers, Video For Buyers
Very few people in the world, let alone Honolulu, will have a penthouse like this one! Not only is it nearly 4,300 square feet of New York style loft, but also you will enter via your private glass elevator directly into the flat. Revel in the minimalist, wide-open loft layout, or bring your designer and make this your exclusive one of a kind lair. Located at the gateway to Waikiki, in the Waikiki Landmark condominium, this fabulous apartment is complimented by the detailed and beautiful common areas as well as excellent security.
http://www.vimeo.com/11626892CLICK HERE TO WATCH THE VIDEO AT YOUTUBE.COM
Price: $1,995,000
Bedrooms: 3
Full Bathrooms: 3
Powder Rooms: 1
Square Footage: 4,286
Covered Parking Stalls: 5
Ceiling Height: Approximately 13 feet
Elevators: One private & two penthouse elevators
Views: Waikiki, Diamond Head, Honolulu city lights, ocean, Koolau mountains, Waianae mountains, Honolulu airport, Manoa, Ala Wai golf course and canal
CLICK HERE FOR AN MLS FACT SHEET
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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
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
| Discussion: 3 Comments »
Call Me A Slimy Opportunist!
May 7th, 2010 categories: For Buyers, Video For Buyers
The stock market craziness of the past few days and even that last few years has made me a true believer in owning Honolulu real estate. My problem with the financial markets is that they have become so complex that they are hard to understand. Good news can make a stock go down and bad news will send it up. Makes no sense to me. Real estate may be boring, but over the long term it can provide exciting returns!
http://www.vimeo.com/11561425If 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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
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
| Discussion: 2 Comments »
Honolulu Real Estate Could Stop The Stock Roller Coaster
May 7th, 2010 categories: For Buyers, Video For Sellers
It is common knowledge that real estate is not very liquid. However, I see this as a positive because it allows panics to run their course and can help to protect your investment dollars. Think about allocating part of your investment strategy to Honolulu real estate.
http://www.vimeo.com/11560645If 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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
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
| Discussion: 1 Comment »
Hawaii Bankruptcies Up
May 4th, 2010 categories: For Buyers, For Sellers, The Market
The Honolulu Advertiser is reporting that Hawaii’s bankruptcies have risen.
“Bankruptcies have risen for three consecutive months as people continue to experience economic problems brought on by unemployment, fewer work hours and problem mortgages. The April number was 56 percent more than a year earlier.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
I do some work with a few of the local bankruptcy trustees and they have been sending me more properties to evaluate. Even though the increase in filings looks negative, I believe it is part of the recovery process. People that are over extended can hang on for only so long and once they come to the conclusion that they can’t make it through to the good times, they either let their home go into foreclosure or file bankruptcy. Don’t despair, because toward the end of the article the author leaves us with some good news.
“Hawai’i’s bankruptcy filings per capita traditionally have been one of the lowest in the country but have been rising. Federal court numbers show Hawai’i’s rate last year was fifth lowest, at 2.41 cases per 1,000 population.”
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
Honolulu Real Estate Is A Good Investment
Honolulu Home Median Price of $1,000,000
Honolulu real estate makes a lot of sense over 10 years
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
| Discussion: 3 Comments »
Honolulu Foreclosures Up & We’re Still Better Off
May 3rd, 2010 categories: For Buyers, For Sellers, The Market
Pacific Business News is reporting that Honolulu’s foreclosure rate increased by 123% year on year! Nice headline, but read further and you will find that our foreclosure rate is in the bottom half of the 206 surveyed metro areas.
“There were foreclosure filings on 1,564 properties, or one in every 216 households, according to the latest survey by Irvine, Calif.-based RealtyTrac Inc. The number of foreclosures jumped 14.8 percent from the previous quarter.
Honolulu ranked No. 110 for its foreclosure rate in the survey of 206 metropolitan markets in the United States.
Nationally, foreclosure filings grew 16 percent year over year to 932,234, or one in every 138 households. Filings were up 7.2 percent from the fourth quarter of 2009.” CLICK HERE TO READ THE PACIFIC BUSINESS NEWS ARTICLE.
I would rather see the number of foreclosed properties at a much lower level, but my nose tells me we are better off than most places.
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
Honolulu Home Median Price of $1,000,000
Buying more might make your retirement better
Sellers Beware Of Company Addenda
| Discussion: 2 Comments »
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