What Happens To You When Your Landlord Is Foreclosed?
October 5th, 2009 categories: For Buyers, Mortgages & Financing
I am an advocate of home ownership and am always looking for reasons to own a home in Honolulu rather than renting it. Last week’s Wall Street Journal online had an interesting Q and A regarding your rights if a landlord should happen to be foreclosed on while a home or condo is rented to you. Read the rest of this entry »
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Honolulu Foreclosures Down!
July 24th, 2009 categories: The Market
Pacific Business News is reporting that foreclosures are down. For clarity they are still higher than 2008, but I will take the good news.
“Honolulu had one filing per 1,131 housing units, down 26 percent from May but up 295 percent over June 2008.”
CLICK HERE TO READ THE PACIFIC BUSINESS NEWS 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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Honolulu Foreclosure Ranking Very Low But…
April 23rd, 2009 categories: The Market
RealtyTrac is reporting that Honolulu’s ranking of 150th in foreclosures in the nation is still very low. Note, however, that our island had one of the highest increases in the number of foreclosures.
“While Honolulu still ranks near the bottom of the list, it recorded one of the nation’s 10 highest percentage changes from the first quarter of last year.”
CLICK HERE TO READ THE HONOLULU STAR BULLETIN ARTICLE
Like the Disney movie we have an opportunity to “eliminate the negative and accentuate the positive”. Interpretation? No matter the rate of increase in the number of foreclosures, we are still one of the lowest. To put it another way, I would rather own in Honolulu than Phoenix.
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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Perspective On Hawaii’s Foreclosure Rate
March 12th, 2009 categories: The Market
I am trying to keep my cool! The Honolulu Advertiser led an article today with this headline, “Foreclosure filings statewide soar 276%”! If you are like me, at first blush my reaction was shock and dismay, but as I read the sneaky report I found that their headline was designed to sell papers. Read the rest of this entry »
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Ewa Beach Is Honolulu’s Foreclosure King!
December 19th, 2008 categories: The Market
In general, core Honolulu is not experiencing significant rates of foreclosure. The City and County of Honolulu encompasses the entire island of Oahu and there is an area where foreclosures can be found. According to Pacific Business News, Ewa Beach is the place.
“How Ewa Beach earned the unhappy distinction of being Hawaii’s foreclosure capital – and by extension, how the nation’s financial machinery broke down – can be understood through the events leading to the unsuccessful auction this week of the four-bedroom house at 91-1005 Kai Uhu St. in the Ocean Pointe subdivision.”
CLICK HERE TO READ THE PBN ARTICLE
The amount of inventory in Ewa Beach leads me to believe that in the short term values will go down more, however, over the long run an investment in this area should make sense.
Call me at 808-737-2093 or toll free 877-737-2093 to discuss your specific situation.
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Honolulu Headlines Tell Different Stories
December 11th, 2008 categories: The Market
RealtyTrac just released the Hawaii foreclosure number for November. I found the headlines in our local newspapers at odds with each other. Even though the stories were based on the same information, each headline made me feel differently about the condition of the Honolulu real estate market.
The Honolulu Advertiser led with the headline “Hawaii foreclosures tripled in November”. My initial reaction was that things are really bad and that I should be fearful.
The Star Bulletin’s headline read, “Hawaii falls to No. 28 in national foreclosures”. After seeing this, I had the impression that things are improving because we must have fell from a worst position to a better place.
Pacific Business News played it straight with a headline that read “Hawaii foreclosures 28th in U.S. in November“. This statement made me read the article to determine whether or not this is good or bad.
In this case, I feel the Honolulu Advertiser’s headline is trying to play on our emotions (in a bad way) and I wish they would have just given us the facts and let us decide from there.
CLICK HERE TO READ THE HONOLULU ADVERTISER ARTICLE
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A Probate, A Foreclosure & 4 Short Sales!
October 14th, 2008 categories: For Buyers, Homes For Sale
Here is today’s list of homes that have are subject to Court or Lender confirmation. CLICK HERE FOR A COPY OF THE COMPLETE LIST. Call me at 808-737-2093 if you would like to discuss any of the properties.
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Honolulu Foreclosure Rate Goes Down?
July 22nd, 2008 categories: The Market
Almost every day I speak with buyers from mainland markets that are experiencing significant downturns and a great deal of gloom and doom. Because their markets are hurting they believe there may be opportunities to buy properties in Honolulu at discounts comparable to their home markets. Our market is down some, but it is not off the 30- 50% that I am hearing some parts of the mainland are experiencing. Let me be clear, there are good values in our market as compared to our recent highs (2005 and 2006). However, it is unrealistic to believe that one is going to buy in core Honolulu at a 30-50% discount. As I have said in other posts, Honolulu proper does not have a significant way to increase the supply of houses and our ability to increase the number of condominiums is greatly hampered over the long run too. I cannot tell you if our market is at a bottom or if it will continue to slide, but if you are a long-term investor, I am perfectly comfortable with you making a purchase today.
A recent article in the Honolulu Star bulletin reflected that even though we have been seeing foreclosures, Honolulu dropped from 40th in the nation to 45th from June of 07 to June of 08. Quoting the article.
“Hawaii recorded a 17 percent decrease in June foreclosures from the prior month, driving the state to 45th in a national survey, down from 42nd in May, according to RealtyTrac, an online marketplace for foreclosure properties. Hawaii ranked No. 40 in June 2007.”
CLICK HERE TO READ THE HONOLULU STAR BULLETIN ARTICLE
Call me an optimist, I have had the good fortune to have been through three “down cycles” and I have noticed that people who have the courage to purchase in times like these, over the long run, can make fortunes.
Today’s picture is of Honolulu Harbor and was take from the 9th floor of the Harbor Court parking structure.
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