Archive for the 'Military' Category
Four Honolulu Condos For Sale
January 13th, 2010 categories: Condos For Sale, For Buyers, Military
Here are four condo listings that came on the market over night. Feel free to call me at 808-398-3220 to discuss any of them, I can represent you as they are listed with other real estate firms.
Honolulu Condos
Kamehameha Towers 2 bedroom 1-bathroom in unusual residential location. Very close to Kamehameha School, downtown and much more. $265,000. CLICK HERE FOR FACT SHEET.![hr1000598-5[1]](http://honolulurealestateviews.com/files/2010/01/hr1000598-51.jpg)
Sakura 1 bedroom 1-bathroom with 590 interior square feet and 1 parking stall. Located in Nuuanu this is a terrific location. $305,000. CLICK HERE FOR FACT SHEET.![hr1000578-6[1]](http://honolulurealestateviews.com/files/2010/01/hr1000578-61.jpg)
Waikiki Canal House 1 bedroom 1-bathroom with excellent mountain and city views. $339,000. CLICK HERE FOR FACT SHEET.![hr1000607-3[1]](http://honolulurealestateviews.com/files/2010/01/hr1000607-31.jpg)
Greenwood 2 bedroom 1.5-bathroom view apartment, very close to Hickam Airforce Base and Fort Shafter. The may be perfect for those of you with a off base house allowance (BAQ). $369,000. CLICK HERE FOR FACT SHEET. ![hr1000588-2[1]](http://honolulurealestateviews.com/files/2010/01/hr1000588-211.jpg)
SEARCH FOR YOUR HONOLULU HOME
http://honolulurealestateviews.com/home-search/
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Home Tax Credit Rules Honolulu Buyers
December 22nd, 2009 categories: For Buyers, Military, Mortgages & Financing
The vaunted Federal Home Buyer Tax Credit has been extended through the end of April 2010. As you can imagine there are a great many rules and conditions to consider when using it to complete your purchase. Ron Li (808-778-6538), a mortgage lender with Metlife, mailed me a helpful and detailed set of handouts that should answer almost all of questions about the available credits. Just click on the links below to get the information relevant to your situation.
First time buyer tax credit information (details).
Move up homebuyer tax credit (details).
Homebuyer tax credit for military personnel (details).
Homebuyer tax credit resources.
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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VA Loan Limits Change For Honolulu and Hawaii
December 14th, 2009 categories: For Buyers, Military
I just received an email notifying me of a change in the maximum VA loan amounts for Hawaii. Read the rest of this entry »
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Key Information On Homeowners Assistance Program (HAP)
November 13th, 2009 categories: For Sellers, Military
For members of the U.S. military who are transferring from Oahu to their next PCS the Federal Governments Homeowners Assistance Program may be a good way to help minimize your loss on real estate you may have purchased. Here are two links that may help you with your research.
Government site with Homeowners Assistance Program information.
Find out if your are eligible for the Homeowners Assistance Program.
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.
Related Posts And Sites
Basic Allowance For Housing (BAH)
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Honolulu Should Be Thankful For the Military!
June 24th, 2009 categories: Military
Without any hard numbers to back-up my assumptions, I have always known that the military in Honolulu has significant impact on the island economy. Mark Bratton, of the commercial real estate company Colliers Monroe and Freidlander, has a terrific blog post full of numbers that confirm the role the military plays as an economic engine in Hawaii.
“The military and Federal Government combined in our state is holding up the entire economy on the Island of Oahu. Military construction has not receded, it continues. They are in the process of building housing on Oahu, 10,000 homes by Actus and an additional 4,500 homes over the next few years as replacements for military personnel. There are 102,000 people with the military, mostly based on the Island of Oahu. The military has 18,000 direct jobs that we know of and spending approximately $1 billion/year.”
CLICK HERE TO READ THE ENTIRE POST ON THE MILITARY IN HAWAII
A number not considered in the post is the impact of the Off Base Housing Allowances (BAH). Given the amounts available for covering monthly off base housing costs, there are many annual sales attributable to the military. This additional military buying power and demand adds fuel to the long-term strong Oahu real estate 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.
OTHER HONOLULU REAL ESTATE POSTS WORTH READING
Honolulu Real Estate Vs. Stock
A Good Lesson
Answers To Your Questions About Keahi Pelayo
Honolulu Rental Rates
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
Pricing Your Home
Long Term Investment Makes Sense
Honolulu Schools
Off Base Housing Allowances-BAH
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Military May Help Personnel Move From Honolulu
March 17th, 2009 categories: Military
Margaret Woda, of Long and Foster in Maryland, had an excellent post concerning the military Home Owner Assistance Program (HAP). According to Margaret, “The Department of Defense will reimburse these individuals up to 95 percent of the loss if their home was purchased before July 1, 2006”. Read the rest of this entry »
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Military Moving To Honolulu? Here Are A Few Helpful Web Links
March 13th, 2009 categories: Military
If you are moving to any of Honolulu’s military bases, these links could be helpful with getting organized and planning.
Information on Oahu’s schools (public and private)
State Web-site for bringing pets to Hawaii
Hale Koa Military Hotel
Military Newcomers Guide-Honolulu Advertiser
My blog on “Things To Know” about moving to Honolulu
Pearl Harbor Naval Exchange
Retail Services at Schofield Barracks
Marine Corp Exchange-Kaneohe Bay
Marine Corp Officers Club-Kaneohe Bay
Hickam AFB Tradewinds Enlisted Club
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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Re-sale Should Be Part Of Purchase Plan
March 9th, 2009 categories: For Buyers, 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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Housing Around Hickam Air Force Base Honolulu
March 5th, 2009 categories: Military
This post is for military folks that are PCS’ing to Hickam Air Force Base in Honolulu, Hawaii. If you are planning on living off base (click here to check your BAH), then this post should help you understand the neighborhoods that are in close proximity to Hickam. Note that I have selected areas that within 25 minutes or less of Hickam.
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Better To Buy In Honolulu Than To Rent!
February 26th, 2009 categories: For Buyers, Military
If you are going to live in Honolulu for less than 2 years, in any real estate market, I have always believed you are better off renting than buying. If Oahu is going to be your home for the mid to long-term, than I advocate purchasing rather than renting. A recent Wall Street Journal article, confirmed that recent drops in values and interest rates have made owning more beneficial than renting.
“Over the past 18 years, after-tax mortgage payments have averaged 26% more than rent payments, according to Green Street Advisors, a real-estate consultancy based in Newport Beach, Calif. In 2006, at the height of the housing bubble, mortgage payments reached as high as 66% more than rent payments. But by the end of 2008, average monthly rent for the largest 50 metropolitan areas was $1,045, compared with after-tax mortgage payments of $1,300, assuming a rate of 5.5% on a 30-year fixed mortgage. That means mortgage payments averaged just 24% more than rent payments, the narrowest gap since 2001.”
CLICK HERE TO READ THE WSJ ARTICLE
The gap between rental rates and mortgage payments are important to consider, but they are not the only reason to buy. Don’t forget these important reasons too.
1. Long-term equity appreciation. I don’t have a crystal ball, but do you think Honolulu real estate values will be higher or lower in 2019?
2. Forced savings. Here is an example, if you obtained a $100,000 loan at 5.5%, that is fully amortized over 30 years, then in 10 years you would owe approximately $82,541! Assuming no appreciation, by paying down the mortgage you will have built equity in your property of $17,459.
3. Stability and control. I have not see statistics, but I will bet you donut that renters move way more often than those who own their home. By owning you control your destiny, no one can give you a 45-day notice to vacate and therefore you life is much more stable.
4. Pride of ownership. As a renter, if you improve your rental when you leave you will not benefit from the improvement. Therefore, most tenants do little to improve their residence. Once a home is owned, I have noticed that the new owners generally begin adding and improving it to their tastes and I think this is because they own it and can take pride in that fact.
5. Decorating to your hearts content. Most landlords try to keep their rental bland, because light carpet and white walls are generally easier to rent than unusual colors and floor coverings. As a renter, you may find it difficult to gain a landlords permission to paint a wall red or blue, or to change the bathroom tile to black granite. Once you own, have at it. Make your home what ever color you like, put up the picture of Elvis and install the bidet.
There are many other reasons to own. Frankly, I think 1 through 5 above far out weigh the gap between rental and mortgage payments. 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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