Archive for the 'Distressed Properties' Category
Ewa Beach Is Honolulu’s Foreclosure King!
December 19th, 2008 categories: Distressed Properties
In general, core Honolulu is not experiencing significant rates of foreclosure. The City and County of Honolulu encompasses the entire island of Oahu and there is an area where foreclosures can be found. According to Pacific Business News, Ewa Beach is the place.
“How Ewa Beach earned the unhappy distinction of being Hawaii’s foreclosure capital - and by extension, how the nation’s financial machinery broke down - can be understood through the events leading to the unsuccessful auction this week of the four-bedroom house at 91-1005 Kai Uhu St. in the Ocean Pointe subdivision.”
CLICK HERE TO READ THE PBN ARTICLE
The amount of inventory in Ewa Beach leads me to believe that in the short term values will go down more, however, over the long run an investment in this area should make sense.
Call me at 808-737-2093 or toll free 877-737-2093 to discuss your specific situation.
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Honolulu Headlines Tell Different Stories
December 11th, 2008 categories: Distressed Properties
RealtyTrac just released the Hawaii foreclosure number for November. I found the headlines in our local newspapers at odds with each other. Even though the stories were based on the same information, each headline made me feel differently about the condition of the Honolulu real estate market.
The Honolulu Advertiser led with the headline “Hawaii foreclosures tripled in November”. My initial reaction was that things are really bad and that I should be fearful.
The Star Bulletin’s headline read, “Hawaii falls to No. 28 in national foreclosures”. After seeing this, I had the impression that things are improving because we must have fell from a worst position to a better place.
Pacific Business News played it straight with a headline that read “Hawaii foreclosures 28th in U.S. in November“. This statement made me read the article to determine whether or not this is good or bad.
In this case, I feel the Honolulu Advertiser’s headline is trying to play on our emotions (in a bad way) and I wish they would have just given us the facts and let us decide from there.
CLICK HERE TO READ THE HONOLULU ADVERTISER ARTICLE
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Honolulu Black Point Beauty!
November 25th, 2008 categories: Distressed Properties, Views of Honolulu
Black Point is at the foot of Diamond Head and is considered one of Honolulu’s upscale neighborhoods. This 5 bedroom 4 1/2 bathroom home is 4,688 square feet under roof and sits on 14,400 square feet of land. It has an air conditioned 3 car garage and a swimming pool that looks like it is a spring naturally occurring in the back yard. Records show that the home was originally owned by Tom Leppert, the former head of Castle and Cook. The design is reminiscent of Koele Lodge a project developed Castle and Cook on Lanai. The sale is subject to Bankruptcy Court approval and it is priced at $3,200,000. Call for an appointment. I can be reached at 808-737-2093 or 877-737-2093.
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3 Honolulu Short Sales
October 21st, 2008 categories: Distressed Properties
Here is today’s list of Honolulu homes that are subject to short sale approval. CLICK HERE FOR A COPY OF THE COMPLETE LIST. Call me at 808-737-2093 (toll free 877-737-2093) if you would like to discuss any of the properties.
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Low Housing Starts A Good Sign For Honolulu Real Estate
October 21st, 2008 categories: Distressed Properties, Rants & Riffs
You may have heard that housing starts are at a 17 year low (see quote from WSJ below). This means that those associated with building homes are experiencing difficulty, however, part of the problem in the mainland market is that it is over-built (too many homes not enough buyers). In order for those markets to turn around, building must slow first! The slowing in the construction industry will help current inventory get sold.
“Housing starts and consumer sentiment declined significantly in September, reflecting a national retrenchment protracted by the global credit crunch.”
CLICK HERE TO READ THE WSJ ARTICLE.
Kayak race on the Ala Wai
How does this apply to Honolulu real estate? To be clear, core Honolulu is not over-built. Bad things happening in the mainland inevitably paint us too. The mainland market must bottom and turn for our houses and condos to start appreciating. While we wait for the continental US to get its proverbial act together, I believe our market will remain relatively healthy. Our inventory is at a moderate level and we have very good and available mortgage financing. Therefore, remain optimistic as we have brighter days ahead of us.
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Today’s Short Sale!
October 20th, 2008 categories: Distressed Properties
Just one new short sale today. CLICK HERE FOR A COPY OF THE LISTING. Call me at 808-737-2093 if you would like to discuss this property.
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3 Short Sales, 2 Probates & 2 REO’s!
October 17th, 2008 categories: Distressed Properties
Here is today’s list of homes that have are subject to Court or Lender confirmation. CLICK HERE FOR A COPY OF THE COMPLETE LIST. Call me at 808-737-2093 if you would like to discuss any of the properties.
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Mililani Short Sale!
October 15th, 2008 categories: Distressed Properties
This 3 bedroom 1.5 bathroom house is located in Mililani and is subject to lender approval and short sale. Call me at 808-737-2093 if you would like to discuss any of the properties.
CLICK HERE FOR A FACT SHEET.
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Thank you President Bush!
October 15th, 2008 categories: Distressed Properties
Lost in this election season has been the fact that we are losing a man that
has served us very well. Are you shocked? Well, I am part of that minority
of Americans who believe George W. Bush has done a good job with our
Country. This post is an open ‘Thank You’ for a man who has given us 8 years
of his life (and has probably shortened his life as a result of serving us).
2000.
2008
President Bush, I thank you for the following:
1. Protecting us from further terrorist attacks on our home soil for over
2600 days.
2. Taking the fight to the terrorists in Iraq and Afghanistan, instead of
waiting for them to come here again.
3. Helping to hatch a democracy in Iraq.
4. Freeing 50 million souls from totalitarianism in Iraq and Afghanistan.
5. Removing the Executive Order banning off shore drilling in the US.
6. Your will to make the war in Iraq a success, even when it destroyed your personal popularity ratings.
7. A terrific economy for the majority of your stewardship of the Country.
8. Your willingness to fly in the face of our “allies” in Europe and the
rest of the world.
9. Your stand for innocent unborn life.
10. The appointments of Chief Justice John Roberts and Justice Sam Alito.
11. Keeping income taxes low.
12. The Bush Doctrine.
13. Carrying the Conservative torch when many “Conservatives” were acting
like liberals.
14. For fighting to keep the Federal capital gains tax at 15%.
15. Standing by and fighting for our service men and woman.
As we come the end of your term, your courage and quiet strength will be
missed. I hope and pray that your replacement will be filled with the will
and perspective you have exhibited. Thank you, Mahalo, Gracias, and
gratitude in every language we know!
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A Probate, A Foreclosure & 4 Short Sales!
October 14th, 2008 categories: Distressed Properties
Here is today’s list of homes that have are subject to Court or Lender confirmation. CLICK HERE FOR A COPY OF THE COMPLETE LIST. Call me at 808-737-2093 if you would like to discuss any of the properties.
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