Archive for the 'The Market' Category
Good News! Evidence Of Possible National Market Bottom!
November 3rd, 2011 categories: The Market
The Wall Street Journal reported a statistic that might be pointing to a bottom in the national real estate market. Here is what they had to say.
“The nation’s homeownership rate ticked up in the third quarter compared with the second quarter, suggesting that the three-year decline in home ownership may be starting to bottom out.” CLICK HERE TO READ THE ENTIRE ARTICLE
In general, the Honolulu real estate market bottomed last year. Most sellers are getting higher prices today than they were a year ago. Feel free to email at keahi@lava.net or call me 808-398-3220 if you would like to discuss your situation.
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Honolulu Real Estate Market Update
October 26th, 2011 categories: The Market, Video For Buyers, Video For Sellers
Here is a quick overview of my perceptions concerning the condition and direction of the Honolulu real estate market.
http://www.vimeo.com/31169476Call me at 808-398-3220 or email me at keahi@lava.net if I can help you.
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What The Heck Is The Honolulu Real Estate Market Doing?
August 30th, 2010 categories: The Market
Now that the end of summer is here and nearly 75% of 2010 is gone, many have been asking me what is going on with the Honolulu real estate market? Here are my thoughts.
1. In general, the market is good for properties that show well and are priced within the range of the most recent comparable closed sales. Is it as strong as it was at the peak? No, but there is good demand and I have been seeing listings sell relatively quickly in core Honolulu.
2. Financing is the key. Houses and condos that fit into conventional, FHA and VA financing guidelines are in demand and they’re selling quicker than properties that need jumbo financing.
3. Appraisers seem to be loosening up. Last year at this time, it seemed that appraisers were being very stingy with their valuation prices for homes. A year ago, appraisers were committed to giving values at the lowest possible market level and therefore; they were, in my opinion, artificially holding back the market. In the last 5 months, I have noticed that appraisers are more willing to move prices to the middle and upper range of a properties market value.
4. Washington needs to get its act together. In general, Hawaii is seeing gains in our tourism market and since this is one of the major driving forces in our economy, it is not surprising to see Waikiki, Ala Moana and retailers full of shoppers. HOWEVER, I sense a bit of fear regarding the national economy! It seems that people are unsure of what will be coming out of the elected “nuts” in D.C. and therefore they are a bit hesitant to jump into the real estate market with reckless abandon. When things settle down on a national level, I believe you will see Hawaii real estate pick up very quickly.
5. Potential increase in taxes. Since taxes are scheduled to go up on January 1 (if congress does nothing), I have a number of clients that are selling their properties this year to take advantage of the lower long-term capital gains rate. If you are thinking about selling next year, you may want to investigate your exposure to the capital gains tax. If you have to pay taxes, then it might make sense move the sale into 2010 (CHECK WITH YOUR ACCOUNTANT).
In summary, I am pessimistically optimistic about our market. For reasons outlined in this blog over the last several years, Honolulu remains a good long-term investment. Given the recent slowing in the number of homes resold nationally, now may be a very good time to buy into our market. Since urban Honolulu has recovered some of the equity it lost between 2007 and 2009, this maybe a very good time to sell (if you are planning on selling between now and 2012).
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 real estate makes a lot of sense over 10 years
Buying more might make your retirement better
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Honolulu Hotel Occupancy Leads Hawaii
August 19th, 2010 categories: The Market
Pacific Business News is reporting the following.
“Oahu maintained the highest occupancy rate at 87.8 percent, up 4 percentage points from a year ago.”
CLICK HERE TO READ THE ENTIRE ARTICLE
This may explain why a past client mentioned that Honolulu doesn’t feel like it is having economically hard times. He noted that malls and restaurants are packed. What does this mean for Honolulu real estate?
Though hotel occupancy is a single indicator, it is one of the more important ones in our market. As tourism improves, businesses reliant on visitors will do better and this will strengthen other sectors too. If you have not yet purchased your part of Oahu, then now may be a great time to do to step up and buyer your house or condo.
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 Home Median Price of $1,000,000
Buying more might make your retirement better
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Great Honolulu Foreclosure News
August 12th, 2010 categories: The Market
The Honolulu StarAdvertiser is reporting some great news!
“A 37-month string of rising Hawaii foreclosure filings was broken last month, but industry observers don’t agree on whether homeowner mortgage troubles are subsiding.”
CLICK HERE TO READ THE ENTIRE ARTICLE
The Honolulu real estate market has been brisk since the first of the year and this news could show that another drag on the market could be falling by the wayside.
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 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
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Seats For More Behinds
August 6th, 2010 categories: The Market
A friend of mine in the car business once told me, “There is an okole for every seat”. One of the challenges Hawaii’s tourism market faced over the last few years was the loss of air carrier flights. The fewer the flights and the fewer the people that could come to our beautiful islands. The Honolulu StarAdvertiser is reporting the addition of a significant number of airline seats.
“An influx of new airline seats to Hawaii from the mainland this year will make up about half of the 1 million seats that were lost in 2008 and 2009.” CLICK HERE TO READ THE ENTIRE ARTICLE
Additional flights will mean more tourists and this will lead to a further recovery of our very important tourism market. As tourism gets healthier demand for Honolulu real estate will rise, which means now may be a terrific time to buy. Let’s hope the additional seats fill quickly with more okoles.
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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Media Mixed Message On Honolulu Commercial RE
August 3rd, 2010 categories: The Market
Pacific Business New online had two recent articles concerning the Honolulu commercial real estate market and they seemed to contradict each other.
“Oahu’s commercial real estate market is showing signs of recovery, but it could take at least another year before it is back on firm footing.” CLICK HERE TO READ THE ENTIRE ARTICLE
“Hawaii Commercial Real Estate said the outlook isn’t good, as large tenants plan to consolidate or move to lower-cost facilities in the next two quarters. They include Morgan Staley Smith Barney, which will vacate 20,000 square feet at Alii Place to consolidate operations at Pacific Guardian Center; Kiewit, which will move from Harbor Court to Iwilei; and KPMG, which will downsize its office by 6,000 square feet, the report said.” CLICK HERE TO READ THE ENTIRE ARTICLE
Based on my conversations with local commercial brokers, it seems sales are slow and vacancies are up. What does commercial real estate have to do with my focus, Honolulu residential real estate? I believe it is key economic indicator. High vacancy rates are reflective of a sluggish economy, as these rates get lower they will be evidence of market confidence and growth. Confidence in the commercial sector should drive residential real estate values to higher levels. Think about it.
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
| Discussion: No Comments »
Honolulu Foreclosures Up
August 2nd, 2010 categories: The Market
The Honolulu StarAdvertser is reporting a significant increase in the number of foreclosures in Honolulu. Generally, Honolulu includes all of the island of Oahu and since the reporting company, RealtyTrac, doesn’t delineate between the different communities it is difficult to tell whether the increase is in outlying areas or the urban core.
“Home foreclosures in Honolulu shot up more than 70 percent during the first half of this year even as foreclosure rates began abating in the hardest-hit cities on the mainland, according to report released today.
A total of 2,784 Honolulu homeowners received a foreclosure filing between January and the end of June, up 72.3 percent from the first half of 2009, according to the report from real estate research firm RealtyTrac.”
CLICK HERE TO READ THE ENTIRE ARTICLE
It seems that demand for well priced homes and condos in urban Honolulu is still high. Let’s see what happens over the next six months.
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
Buying more might make your retirement better
Under New Rules-Lenders Even More Important
Sellers Beware Of Company Addenda
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Tax Increase May Make 2010 A Better Year To Sell
July 27th, 2010 categories: The Market
Lost amidst the hubbub of health care reform and financial overhauls has been the fact that if the President and Congress don’t act, taxes rates will be going up. Ironically in the last week, the New Times and Wall Street Journal have both published articles concerning the looming battle.
“If no tax legislation is passed, all the major tax reductions passed under President George W. Bush in 2001 and 2003 will expire, with rates reverting overnight on Dec. 31. The top marginal income tax rate, for example, would go back to 39.6 percent from 35 percent now, with corresponding increases in rates for lower income brackets.” CLICK HERE TO READ THE ENTIRE NEW YORK TIMES ARTICLE
“Pressure is growing on the administration from a small number of Democratic lawmakers to extend all the Bush cuts, which include taxes on investment income and capital gains.” CLICK HERE TO READ THE ENTIRE WALL STREET JOURNAL ARTICLE
Given the majorities that the Democrats have in the house and senate, it is very possible that the Republicans will not have the votes to stop the automatic increase in taxes. If no extension of the current law is made the capital gains tax will raise from 15% to 20%. If you are thinking about selling a Honolulu house or condominium, by selling and closing in 2010 you should lock in the lower rate (providing the sneaky guys in DC don’t make a retroactive law). On a sale of $600,000, if the entire amount of the sale is capital gains, closing your sale in 2010 could save you $30,000!
Time is short! An average closing time is 45 days which means you would want have your property under contract by November 15th, at the latest! If you would like to investigate getting sold this year, call me at 808-398-3220.
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Upside Down? Why Moving Up Might Make Sense!
July 26th, 2010 categories: Rants & Riffs, The Market
The Wall Street Journal on-line posted a very interesting article today. It makes a great case for moving up to a new Honolulu home or condo.
“Katie Everett, a real-estate broker in Denver, says none of her clients kicked in cash when selling their homes last year. This year, “about half are willing to bring money to closing, anywhere from $5,000 to $45,000,” she says.
Are these people crazy to be tying up even more of their cash in their homes, in effect doubling down on what has been a losing bet thus far? After all, any number of variables, from the employment picture to the credit markets, could weigh on housing for years to come.
Yet economists say trading up to new homes or refinancing existing ones can be smart—even if it means plunking down more cash to get out of old mortgages. People living in less-desirable neighborhoods might be able to find better homes in tonier ones that offer better appreciation potential. And with mortgage rates so low, such buyers can keep their monthly payments manageable, even though the new homes are more expensive.”
CLICK HERE TO READ THE ENTIRE ARTICLE
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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