Archive for the 'For Sellers' Category
Spike In Honolulu Home Prices Coming?
April 16th, 2010 categories: For Buyers, For Sellers
Honolulu real estate is not complicated; in fact, it goes back to economics 101 (remember supply and demand?)! Anyway, in my opinion, the 2009 slowing in core Honolulu real estate sales had more to do with fear than too many homes for sale. Add to this the lack of new construction and tight commercial financing and there may be short to mid-term pressure on existing home and condo prices. A recent article in the Honolulu Advertiser confirms this.
“Hawai’i home sales volume has been rising for nearly a year, but the pipeline to produce new homes is at a more than 30-year low, leading a local economist to warn that a price spike could be in the making.”
“Around 4,000 new homes are needed to satisfy household formation, the local economist said, adding that if home construction doesn’t pick up it could lead to a short supply that drives another spike in prices.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
Here is the question, how can you take advantage of this potential upward pressure on values? For buyer’s, buy now and lock-in low interest rates and values. For sellers, if you can wait, waiting to sell for the next 3 to 5 years may position you to take advantage of a spike in values.
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 »
Betting On Lower Foreclosures For Honolulu
April 16th, 2010 categories: For Buyers, For Sellers, The Market
Pacific Business News is reporting an increase in the number of foreclosures in Hawaii.
“That was 111 percent higher than the first quarter of 2009, but just 1.42 percent higher than the fourth quarter of 2009.
Nationally, there were foreclosure filings reported on 932,234 properties in the first quarter, or one in every 138 housing units, 16 percent higher than the first quarter of 2009 and 7 percent higher than the previous quarter, RealtyTrac said.” CLICK HERE TO READ THE ENTIRE PBN ARTICLE
Before you launch your life boat, when the numbers are looked at more closely, Hawaii is underperforming the national market (this is good). Note that Hawaii’s rate of foreclosure increased by 1.42% as compared to the last quarter and the national increase was 7% higher! I wish the report would have broken out the foreclosure rates on an island by island, as I would wager that the Honolulu real estate market has experienced a decrease in filings. As soon as I find the evidence, I will post the answer. Let’s hope I don’t lose.
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 »
Short Sale Letters
April 15th, 2010 categories: For Sellers, Mortgages & Financing
Over the last few years I have seen an increase in the number of people having difficulties making their monthly mortgage payment on their Honolulu condo or house. Though it is not a good situation once it becomes clear that something needs to be done most people begin by investigating refinancing and/or mortgage modification. If satisfaction cannot be found through these two avenues, then the more drastic steps of a short sale, deed-in-lieu of foreclosure or an actual foreclosure become the remaining options. Part of the short sale process is to write a letter explaining your situation and whey the lender should consider granting the short sale. Rather than reinventing the wheel, I found an excellent series of letters at Blog The Rockies, a Boulder Colorado real estate blog.
“To Whom It May Concern:
This letter is a explanation of our financial hardship for short sale documentation. At the time I bought a home, my wife and I were full time employees of long standing companies. Upon the harsh economic times, lay offs were inevitable and my wife and I both found ourselves laid off. Not to mention, a baby on the way. We were unprepared for this unknown fate and as a result, have not been able to make our mortgage payments.
The current market conditions resulted in an under appraised home. We have both been laid off for almost a year, thus depleting our savings. Although our efforts to find new jobs has been a full time job in itself, no jobs have become available in this area. I finally received a job offer in another state, but the pay is much less and my wife is staying home with our new baby.
I feel certain that a short sale is the best option for us to get out of this situation and hopefully move forward with our lives.
Thank you in advance for allowing us this opportunity to short sale on our home.
Please do not hesitate to contact me and our Realtor who is assisting us in this entire transaction.”
CLICK HERE TO READ THE ENTIRE BLOG.
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 »
Maui Home Sales Good Sign For Honolulu Real Estate
April 14th, 2010 categories: For Buyers, For Sellers, The Market
The Honolulu Advertiser is reporting strong house and condominium sales for the island of Maui.
“Home sales on Maui last month rose strongly, though median prices were mixed, according to the Realtors Association of Maui.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE.
Why should people interested in Honolulu real estate care about what happens on Maui? Read the rest of this entry »
| Discussion: 1 Comment »
Spy Vs. Spy? Broker Vs. Agent?
April 13th, 2010 categories: For Buyers, For Sellers, Video For Buyers, Video For Sellers
In Honolulu, what is the difference between a real estate broker (I am one) and a real estate agent? Both can help you buy or sell a home, and theoretically, one has more experience. Check it out.
| Discussion: 1 Comment »
In Hawaii, Your Agent’s Job Is To Protect You!
April 12th, 2010 categories: For Buyers, For Sellers, Video For Buyers, Video For Sellers
In today’s video blog, I discuss the nature of fiduciary duty and how it SHOULD by applied by real estate agent’s and brokers in Hawaii. Good Realtors are aware of this and should go out of their way to protect your interests. As I understand, it is not an option…it’s the law!
| Discussion: 1 Comment »
Goliaths Not So Important
April 11th, 2010 categories: For Buyers, For Sellers, Video For Buyers, Video For Sellers
In today’s video blog, I discuss how the Internet Data Exchange (IDX) has balanced the playing field between smaller real estate companies and large franchise organizations. The reality is that the larger you are the harder it is to shift in this fast changing technological world.
| Discussion: No Comments »
When Does The Negotiation For The Price Of Your Home Begin?
April 9th, 2010 categories: For Sellers, Negotiating Contracts, Video For Sellers
In this video blog, I discuss when the negotiation for the price of your Honolulu home or condo really begins.
http://www.vimeo.com/10680871 Read the rest of this entry »
| Discussion: No Comments »
1031: When Should You Hire A Qualified Intermediary?
April 8th, 2010 categories: For Sellers, Video For Sellers
In today’s video blog, I talk about the timing of hiring the qualified intermediary to handle your Honolulu 1031 tax deferred exchange. Be sure you do it before your down-leg property closes!
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 »
1031: What Is A Qualified Intermediary?
April 7th, 2010 categories: For Sellers, Video For Sellers
Qualified intermediary, accommodator, Starker or exchange company? In today’s video blog, I give you an overview of how this third party fits into your Honolulu 1031 tax deferred exchange.
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 »
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