Archive for the 'Views of Honolulu' Category
Happy 4th Of July! Celebrate!
July 3rd, 2008 categories: Views of Honolulu
Today’s picture was taken from the water looking toward Lanikai and Bellows Beach. This Fourth of July take a moment to count your blessings. As Americans, we are sooooo fortunate and have a great deal to be thankful for. Enjoy the long weekend, the BBQ’s and your family!
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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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Diamond Head Honolulu’s Landmark!
June 20th, 2008 categories: Views of Honolulu
Round Top Drive has re-opened! I took the opportunity to visit one of the best views on the island…the Round Top Look Out. This picture of Honolulu framing Diamond Head was taken at about 3:30 in the afternoon.
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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’s Shower of Color
June 11th, 2008 categories: Views of Honolulu
The blooming of Honolulu’s shower trees makes this a very colorful time of year. I saw the yellow shower trees in this picture while driving up to the Round Top lookout.
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Days on Market and Negotiating in Honolulu
May 30th, 2008 categories: Negotiating, Views of Honolulu
In my previous post on negotiating the price of a property, I state that one of the important question to ask is “How long has it been on the market?” Ah yes! The old days on market question! Days on market, or DOM, are the number of days a home has been on the market since it was listed for sale. Too many days on market should be a sign to you that a property has one or a combination of 5 different problems.
a. It is priced to high.
b. It is in poor condition
c. There is problem with the home or the neighborhood.
d. Poor marketing efforts have been made.
e. Or there is poor access to see the home.
Over the last three years, Honolulu’s real estate market has shifted from an insane seller’s market (12 to 14 days on market) to a moderate seller’s market (43 days on market at the end of April). So in May of 2008, if a property has been on the market for more than 45 days, you can assume that there are some issues keeping it from selling. Just because a property isn’t selling, doesn’t mean that the seller is all of a sudden going to become really flexible on their price. However, if a seller is going to take less it will probably happen as the DOM extends beyond 45 days. The opposite is true too.
In my experience, sellers are not very flexible immediately after a property is listed for sale. In fact, if an offer comes in too fast, sometimes a seller may believe that they priced the property too low. So if you like a property and it appears it is priced near the current market value, and it has been on the market for a short period, don’t expect to get a large reduction in the price. Consider a small reduction a major victory. Furthermore if a property doesn’t suffer from any of our 5 maladies, then expect it to sell quickly! So if you want it, plan on possibly competing for it.
In summary, be sure to determine the days on market as part of your offering strategy. Don’t rely on it solely, but be sure to get the information and add it to the mix.
By the way, today’s picture was taken on the trail above Lanikai. Since I am not a botanist, I am not sure what it is, but I found very pretty. Email me if you know what it is.
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Honolulu’s Landmark Closing…For A While.
May 28th, 2008 categories: Rants & Riffs, Views of Honolulu
One of Honolulu’s great landmarks is closing soon. The Royal Hawaiian Hotel will have a seven month $85,000,000 make over. This is great to hear because the last time I was there it still had the feeling of grandeur, but there was the sense that the time had come for a little tender loving care. The Honolulu Advertiser reported the following.
“When the Royal Hawaiian Hotel closes next month for seven months of renovations, it will be only the second time the iconic pink beachfront hotel has shut down. The first time came right after World War II, once the barbed wire was removed from the beach.”
Read the entire article by clicking here.
Combine this work with the ongoing rejuvenation of the Royal Hawaiian Shopping Center and Waikiki’s future looks very bright. This bodes well for real estate, because Waikiki is one of the main engines that drive our economy and as it goes, so shall other things.
By the way, the picture above is the Mokulua islands off of Lanikai.
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Honolulu: Best Place in the U.S. to Raise Your Family!
May 22nd, 2008 categories: Fun & Living, Views of Honolulu
Wow! Honolulu was just selected by Best Life Magazine as the best place in the United States to raise a family. Even with the high cost of living, I have always believed this to be true. I have a 14 year old daughter and a 10 year old son, I find a sense of safety that cannot be found in the mainland. It is very rare to hear of an abducted child, in fact, the last missing child I can remember occurred in the late 1990’s. We have no missing children printed on our milk cartons. Safety is one thing, but there is so much for children to do. In fact, sometimes I find my kids too busy. Still, luck we live Hawaii. Here is part of what Best Life said.
“Television executives seized the idea long ago: American families value where they plant their roots. The Cosbys had Brooklyn. The Cunninghams, Milwaukee. The Simpsons, Springfield. But fathers face reality when they’re not in prime time. They want to raise their children somewhere safe, where they can attend good schools with favorable student-teacher ratios, above-average test scores, and respectable budgets. Plenty of museums, parks, and pediatricians also contribute to a good quality of life, whereas multihour commutes, expensive houses, and divorcing friends and neighbors do not.”
Click here to read the entire Best Life article.
The picture above is an example of one of the great things about living on Oahu. This picture was taken from the Lanikai Pillbox hiking trail this past Sunday. Our island has many really great hikes, just minutes from most homes and condominiums.
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Honolulu View Home for $5,300,000
May 21st, 2008 categories: Buying Honolulu Real Estate, Honolulu Real Estate 101, Views of Honolulu
Oh the value of a view. Over the years, I have noticed that a view brings an “X” factor to the sale of a property. An “X” factor is something that brings additional value to a sale. “X” factors may not be immediately measurable, yet they are real, and people are willing to pay more for a house with an “X” factor. A view is something that makes buyers willing to compromise on their initial needs, because the view brings an emotional aspect that they want and are willing to pay for. In the past, I have seen Buyers who have had very rigid buying standards become very flexible when presented with a terrific view! For Honolulu buyers, your quality of life will be better because there is something calming and serene about a great view. From an investment perspective, when you become a seller, you should be able to sell for significantly more than a non-view home.
For Honolulu sellers, expect to sell at a higher price than non-view homes. Be sure to market your view, as it is a significant and valuable feature.
Click on the youtube video above to see a terrific view from a $5,300,000 Diamond Head home.
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Colorful Honolulu House
May 20th, 2008 categories: Honolulu Real Estate 101, Views of Honolulu
Color, color, color and more color! Color is in, in Honolulu! This home is full of color and it makes me proud to be an American because it shows our freedoms at work. There are parts of the world where a committee might visit this home for being out of the ordinary or approved color palette. Yet in most American communities, accept those like Mililani, you or I can paint our home whatever color our mind may dream.
Now for the practical view, when selling a home (this one is not listed for sale) it is a good idea to be sure the paint is fresh and clean. I recommend picking hues that are consistent with the neighborhood and that are considered up-to-date for an area. If a home with simil Read the rest of this entry »
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