Archive for the 'Rants & Riffs' Category
Bitter Sweet Hawaii Solar Law
July 1st, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
“Gov. Linda Lingle signed the measure, Senate Bill 644, SD 3, HD 3, CD 1, into law yesterday to reduce Hawaii’s dependence on imported oil. It requires all building permits for single-family homes issued after Jan. 1, 2010, to include solar water heaters.
Exceptions will be allowed where homes have poor sunlight; if it is cost-prohibitive after 15 years; when the dwelling has a substitute renewable energy source; or if there is an approved tankless water heater and another appliance, both powered by gas.”
READ THE HONOLULU STAR BULLETIN ARTICLE.
Solar makes sense in Hawaii. I am for voluntary use of Solar and I don’t like government mandates. Mandated safety belts, then bicycle helmets and now solar, all things that are good, but what price are our freedoms paying for this “Nanny” Government?
Today’s picture is taken from the water off of Waimanalo Beach. Note the Koolau mountains in the back ground.
Other Reading
What Price Should You Offer On A Honolulu Home?
Lower Property Taxes On Historic Homes
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Watch Your Honolulu Property Rights
June 27th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
I am a Honolulu Realtor because I have seen how home ownership changes the lives of those who own them. Certainly, the financial aspect of potential long-term appreciation is enticing, but property rights are fundamental to the freedoms we enjoy as Americans. One of our great founders, James Madison, writes about our property rights.
“In a word, as a man is said to have a right to his property, he may be equally said to have a property in his rights. Where an excess of power prevails, property of no sort is duly respected. No man is safe in his opinions, his person, his faculties, or his possessions. . . . Government is instituted to protect property of every sort; as well that which lies in the various rights of individuals, as that which the term particularly expresses. This being the end of government, that alone is a just government, which impartially secures to every man, whatever is his own.”
June 23 is the 3-year anniversary of a Supreme Court decision that should raise a cry from all of us. Traditionally, government can “take” your property if there is a “public use” for which your property is needed (i.e. roads, sewers, parks, etc.). However, in 2005, a decision known as KELO, the Supreme Court allowed the City of New London to take a property for development by a private developer for private use. The logic behind the decision was that the area was blighted and that the “public” would benefit from the renewal of the area. Since I am not a lawyer, let alone a constitutional scholar visit a post by Hugh Hewitt. He does a great job explaining how our constitutional rights have been trampled.
Today’s picture was taken from the lanai of a Tahitienne Cooperative unit for sale on the Gold Coast.
More Posts to Read
Determining An Offering Price For Honolulu Property
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In Hawaii, You May Want To Buy Existing Rather Than Build!
June 26th, 2008 categories: Buying Honolulu Real Estate, Rants & Riffs
I have great respect for anyone who attempts to build a home or develop real estate in Hawaii. The list of projects that have been approved and then strung out endlessly via the courts is very, very long. Yesterday’s Honolulu newspapers had separate articles concerning a project on Kauai and one here in Nuuanu. Both had received approval to move forward and then a fight ensued.
“Perry halted the work on the home, on an oceanfront parcel once owned by movie star Sylvester Stallone, saying that any work done on the property would violate state laws of grave desecration.
However, the owner of the property, Joseph Brescia, had clearance from nearly a half-dozen state and county agencies, including the Burial Council of Kauai and Niihau, the state Historic Preservation Division, the Kauai Planning Department and others.”
READ THE HONOLULU STAR BULLETIN STORY HERE
“The idea to build on the hillside was first proposed in 2004, by the property’s previous owner.
Shin received tentative approval for his subdivision application in May 2006, and last month the city approved his construction plan and issued him a grading permit, giving him clearance to move forward with clearing the land and putting in infrastructure improvements, such as roads, drainage systems and sewer, water and other utility lines.”
READ THE HONOLULU ADVERTISER STORY HERE
In the case of Kauai, I am not for building on burial grounds, but the owner of the property had met the necessary guidelines to build and the County approved his project. Given the fact that he cleared the necessary hurdles, he should be allowed to build.
When developers are put through extended battles we all pay. First, should the developer ultimately finish the project, the additional costs associated with being drawn out will be added to the cost, thus we pay for it. Second, if those fighting the development win, our supply of existing homes does not grow and this limits the supply of available homes. If supply is limited, you and I pay more for the homes that are available for sale.
With all of the risk associated with developing, I think you are better off buying existing homes. If you don’t like an aspect of the house you buy, then remodel it. In the long run you may have less stress and save money and time.
OTHER POSTS TO READ
How To Determine Your Honolulu Offering Price
Today’s picture is looking down Waimanalo Beach toward Bellow’s and Lanikai.
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The Chinese Are Here!
June 25th, 2008 categories: Rants & Riffs, Views of Honolulu
For the last few months I have been writing that the Chinese are on their way to Honolulu! Here is an article confirming the first group is here. Hopefully, it is the beginning of many more visitors from China. If so, it could bode well for local real estate values.
“One of the first groups of Chinese leisure travelers and tourism officials to arrive in Hawaii will receive a welcoming reception Wednesday.”
READ THE ENTIRE PACIFIC BUSINESS NEWS ARTICLE
Have you ever wondered what Rabbit Island looks like from the water? This picture was taken from the starting line of this past Sunday’s canoe regatta.
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Honolulu! Stop The Whining & Start Living!
June 24th, 2008 categories: Rants & Riffs
We are our own worst enemy! Believe it or not we drive the economy! If we want it to change, then we need to move our attitude away from pessimism and toward optimism. Maybe I am showing my age, but I lived through recessions in the early 80’s and middle 1990’s and what we are now experiencing is nothing worth crying over. Let’s stop the whining and start being Americans! Change your attitude, take your life by the throat and make it go the way you want it to go!
The Wall Street Journal and other new outlets are reporting that many real estate markets in the U.S. have seen price drops back to those seen in 2005 and 2004.
“Home prices in 20 major U.S. cities have dropped a record 15.3% in the past year and are now back to where they were in 2004, according to the Case-Shiller home price index released Tuesday by Standard & Poor’s. In a separate report, the Office of Federal Housing Enterprise Oversight said U.S. home prices fell to December 2005 levels during April as the housing downturn continued to affect states at the heart of the real estate boom.”
Last time I checked, 2004 and 2005 were record years in Honolulu! Let’s decide not to participate in the bad news. Go for it!
Today’s picture was taken this past Sunday from Waimanalo Beach, that’s Rabbit Island in the background.
Another Post Of Interest-Building A Honolulu Real Estate Empire
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Vintage Surfboards!
June 18th, 2008 categories: Rants & Riffs, Views of Honolulu
Earlier this week, I went to the Bankruptcy Court for a confirmation of the sale of a property (1132 Bishop Street, near the corner of Bishop & Hotel) and to my surprise the mezzanine lobby was filled with vintage wood surf boards. These pictures were take with my Blackberry Curve and I thought a few of you would find them interesting.
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Honolulu Real Estate and Inflation?
June 17th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
More and more reports are coming out pondering significant economic inflation. As much as I don’t want to see the inflation of the late 70’s and early 80’s, I would be remiss to turn a blind eye to its possibility. Two recent articles at the Wall Street Journal’s website talk about signs that inflation may be on its way.
“Still, the Fed chief said, the runup in oil prices “has added to the upside risks to inflation and inflation expectations.” Timothy Geithner, Federal Reserve Bank of New York president, echoed those remarks in a separate appearance Monday.”
CLICK HERE TO READ THE ARTICLE.
“On Tuesday, China’s stock market was the latest to feel the blow, with the benchmark Shanghai Composite Index tumbling by 7.7%, to its lowest close this year. The drop came after the government announced steps to remove cash from the financial system in an attempt to tamp down inflation.”
CLICK HERE TO READ THE ARTICLE.
How does this tie into Honolulu real estate ownership? If inflation does happen, the price of everything will begin to rise. During our last inflationary period, real estate was a great hedge. Therefore, specifically purchasing more core Honolulu real estate could be a great place to be if inflation should come.
Today’s picture was taken from the a valley across from Makiki Heights and it shows some of the great homes located in Makiki Heights.
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Honolulu Is Becoming Even Safer!
June 13th, 2008 categories: Buying Honolulu Real Estate, Rants & Riffs
Great news. Even though Honolulu seems safe, according to the Honolulu Advertiser, the crime rate has been declining over the last four (4) years.
“Law enforcement officials and observers credit the declining crime rate to a focus on repeat offenders, especially drug traffickers and car thieves, as well as increased community vigilance.”
As I have said before, quality of life issues make a city a great place to live. Do you think a better quality of life could add to the value of your real estate? I think so.
TO READ THE ENTIRE ARTICLE CLICK HERE.
Today’s picture is looking toward Kahala from Puu Panini.
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Honolulu USA’s Most Livable (should it be Lovable) City!
June 11th, 2008 categories: Rants & Riffs
Hip, hip hooray! Monocle Magazine has just named Honolulu the USA’s most livable city.
“Honolulu is no longer a far-flung destination for surfers and vacationers,” the London-based publication said at the time. “Bridging the oceanic gap between California and Asia, Honolulu now fits the definition of a global city — a palm-fringed metropolis with a population as diverse as its flora.”
Again, here is another reason to buy Honolulu real estate!
CLICK HERE TO READ THE MONOCLE MAGAZINE ARTICLE
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Documents To Have During Honolulu’s Hurricane Season!
June 9th, 2008 categories: Rants & Riffs
Honolulu’s hurricane season is upon us. Sure we need to make sure to have the appropriate supplies on hand, batteries, water, food, radio’s, some cash, etc. The recent article at Fox News talks about the documents we should have on hand too.
“All of your materials should be put in a little portable fire proof safe kind of box, small enough that you can pick it up and grab it and run with it, and fire-proof in case something happens when you’re not at the home,” said Celia Hayhoe, a family resource management specialist with Virginia Cooperative Extension.”
CLICK HERE TO READ THE ENTIRE FOX NEWS ARTICLE.
Today’s picture is a sea urchin and it was taken by my son.
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