Archive for the 'Distressed Properties' Category
Hot Honolulu Summer Market!
April 28th, 2009 categories: Distressed Properties, Honolulu Real Estate 101
After selling real estate for 26 years, 17 years in Honolulu, I have noticed that there are natural cycles in the market. They go something like this. From the beginning of January to early March, the market picks up. As tax season approaches the market slows, then beginning in May lots of property sells through the mid-August. The market then slows as parents and kids get back into the groove of school. The market can be slow through the end of October Then there is usually a small bump from November through mid-December. This surge is generally a result of 2 types of buyers. The first is a buyer that needs to buy and close by the end of the calendar year. The second is the person who will be transferring to Oahu in the New Year. Like the whales coming to Hawaii in the winter, the cycle repeats itself!
We are on the cusp of what I believe will be a strong summer market! Here are 5 reasons why. Read the rest of this entry »
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Honolulu Foreclosure Ranking Very Low But…
April 23rd, 2009 categories: Distressed Properties, Honolulu Real Estate 101
RealtyTrac is reporting that Honolulu’s ranking of 150th in foreclosures in the nation is still very low. Note, however, that our island had one of the highest increases in the number of foreclosures.
“While Honolulu still ranks near the bottom of the list, it recorded one of the nation’s 10 highest percentage changes from the first quarter of last year.”
CLICK HERE TO READ THE HONOLULU STAR BULLETIN ARTICLE
Like the Disney movie we have an opportunity to “eliminate the negative and accentuate the positive”. Interpretation? No matter the rate of increase in the number of foreclosures, we are still one of the lowest. To put it another way, I would rather own in Honolulu than Phoenix.
CLICK HERE TO SEARCH FOR YOUR NEW 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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The Answers
April 22nd, 2009 categories: Distressed Properties, Honolulu Real Estate 101
If you read yesterday’s post, I committed to provide my answers to the questions you should ask the Honolulu real estate brokers you may consider hiring to sell your home. The questions and my answers follow. Read the rest of this entry »
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Thinking of Selling Honolulu Real Estate?
April 21st, 2009 categories: Distressed Properties, Honolulu Real Estate 101
The sale of a condominium or home in Honolulu is one of the largest financial transactions a person might complete in a given year! With this in mind, the selection of the broker to handle this sale is really important. How do you select an agent? There are many ways to go about the process. You can get a referral from a friend, choose the one that advertises the most, go with a national firm or consult an oracle.
In my opinion, a company is only as good as the individual agent you might select. I know very good Realtors at both large and small companies, national and local firms, one-person shops and brokerages with 300+ agents. Here’s my point, select the agent with whom you will be working, as they will be you point of contact and the person in charge of customer service. Here are 9 questions to ask any agent you are thinking about hiring to sell a property. Read the rest of this entry »
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First Time Homebuyer Tax Credit?
March 18th, 2009 categories: Buying Honolulu Real Estate, Distressed Properties, Honolulu Real Estate 101, Honolulu Vintage Homes
I finally found a decent explanation of the recently passed first time homebuyer tax credit. In summary, “It ain’t a simple critter”. In other words, if you are a first time homebuyer, don’t automatically assume that you will get a $8000 tax credit. Read the rest of this entry »
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Perspective On Hawaii’s Foreclosure Rate
March 12th, 2009 categories: Distressed Properties, Rants & Riffs
I am trying to keep my cool! The Honolulu Advertiser led an article today with this headline, “Foreclosure filings statewide soar 276%”! If you are like me, at first blush my reaction was shock and dismay, but as I read the sneaky report I found that their headline was designed to sell papers. Read the rest of this entry »
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Re-sale Should Be Part Of Purchase Plan
March 9th, 2009 categories: Distressed Properties, Honolulu Real Estate 101, Military
For any buyers, especially military buyer’s PCS’ing to an Oahu military base, it is very important to consider how salable a property will be when it is time to sell. Since most military transferees come to Honolulu on orders that last for 3 years, their experience of the Honolulu real estate market is an expedited microcosm of that which is experienced by regular buyers over the long term. Here are the nine things that will make it easier for you to sell when you leave our sunny shores.
1.) Location. Notice I did not write location 3 times. The location I am speaking of has to do with the actual physical attributes concerning the positioning of a property. The following may make the sale of a home more difficult.
-Backing up to a busy road.
-A lot located on a busy corner.
-Lot’s of freeway noise.
2.) Historic desirability of a location. There is always part of a town that is known to be a more desirable neighborhood. So when considering your purchase, ask you agent which neighborhoods are considered in this way. In Honolulu, Kahala is an example of one of these communities. Ever since the days of “Hawaii 5-0”, Kahala has been considered one of those neighborhoods that people want and, therefore, its property values and demand have been high. Read the rest of this entry »
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BAH-Basic Allowance For Housing Amount On Oahu
February 5th, 2009 categories: Distressed Properties, Honolulu Real Estate 101, Military
BAH amounts for military housing on Oahu are much higher than the mainland. You may be surprised how much is available for your off base housing. CLICK HERE TO SEE A COMPLETE LIST.
If you would like to discuss moving to Oahu, feel free to call me at 877-737-2083 or locally at 808-737-2093.
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Modifying Loans & Honolulu Real Estate
December 31st, 2008 categories: Distressed Properties
A recent article at Newsmax.com, leads me to believe that loan modifications may not be the panacea we have been hoping for.
“The ratio of loans modified in the first quarter that were delinquent a month or longer was 37 percent after three months and 55 percent after six months. The ratio of loans modified in the first quarter that were 60 or more days delinquent was 19 percent at three months and nearly 37 percent after six months.”
CLICK HERE TO READ THE ENTIRE NEWSMAX ARTICLE.
I don’t know how many barrowers in Honolulu have gone through loan modifications, but if the success ratio is similar to that reported above, lenders might be postponing the inevitable.
If you would like to speak with me about Honolulu real estate, feel free to call me at 808-737-2093 or toll free at 877-737-2093.
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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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