Insurers Cover Less, But Charge More
March 9th, 2012 categories: Mortgages & Financing, Rants & Riffs
Smart Money had an article today that you might want to read.
“To be sure, homeowners can switch insurers if their existing provider scales back on coverage too much. Hartwig says there are now more insurance policies for residents to choose from than before.”
CLICK HERE TO READ THE ENTIRE ARTICLE
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Mililani Mauka 3 Bedroom! $599,000
December 3rd, 2011 categories: Homes For Sale
Here is a terrific new listing. Call me at 808-398-3220 to see it. Enjoy the video!
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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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The China Real Estate Market & How It Works
June 8th, 2010 categories: Rants & Riffs
This is my FYI post. The Wall Street Journal online has a really good presentation on how the Chinese real estate market works and some potential looming problems. CLICK HERE TO SEE THE PRESENTATION
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Equity Building In Real Estate
February 15th, 2010 categories: Rants & Riffs, The Market
The Los Angeles Times is reporting that equity in real estate rose in 2009.
“According to the Fed’s most recent “flow of funds” survey, homeowners’ net equity grew by nearly $1 trillion from the recession’s nadir in the first quarter of 2009 through the third quarter. From June 30 through Sept. 30, equity rose by $418 billion.” CLICK HERE TO READ THE LA TIMES ARTICLE
The power of real estate lies in the idea that, overtime it appreciates in value (equity appreciation). While the amount of equity increases, properties owners then have access to additional financial firepower (selling, refinancing or arranging lines of credit). I believe building equity is one of the keys to a rebounding economy. As property owners tap their equity, they spend it on real job producing things and activities (home remodels, cars. other capital purchases and opening businesses). So let’s hear cheer for this good news!
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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Big Brother Is No Joke!
December 1st, 2009 categories: Rants & Riffs
Realtors not only sell homes, but we are one of the prime protectors of private property rights. The Supreme Court’s “Kelo” decision of 2005 opened the door for government to take private property for private use and now a decision in New York relies on this case to take land for a new NBA arena.
“The decision is a blow to private-property owners who have argued that they are defenseless in protecting their ownership rights once a government deems their land necessary for eminent domain, or the “public good.” But it boosts developers and government entities in New York that have sought to boost local economies by offering incentives for private developers.
The court’s decision echoes one handed down by the U.S. Supreme Court in 2005, when the justices found it was constitutional for a New London, Conn., economic-development corporation to seize private homes and businesses to build a research campus for Pfizer Inc. That decision, Kelo v. City of New London, Conn., set off a firestorm of protest, prompting many lawmakers around the country to amend laws to prevent governments from seizing private land in some cases. New York, however, didn’t change its constitution.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE
Eminent domain has traditionally been used for taking private property for public uses (roads, highways, parks, etc.), but “Kelo” is a threat to our constitutional right to private property. Let’s hope that a new supreme court will reverse this destructive decision. 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.
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U.S. Foreclosures Up, Honolulu Okay
August 25th, 2009 categories: Rants & Riffs, The Market
Forbes online had a post concerning an increase, nationally, in foreclosures.
“One in three new foreclosures between April and June was from a prime, fixed-rate loan, up from one in five a year earlier. Last year, subprime adjustable-rate loans caused the largest share of foreclosures.”
CLICK HERE TO READ THE ENTIRE FORBES POST.
However, I have not seen any evidence that core Honolulu is experiencing a significant increase in the number of foreclosures.
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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Home Valuation Code of Conduct
May 7th, 2009 categories: For Buyers, For Sellers, Rants & Riffs
As of May 1, 2009, new rules have been put in place to try to curb pressure on appraisers to arrive at higher values for properties. With all the issues arising from the sub-prime mortgage mess, at first blush, it sounds like a really good idea. However, like most things done by the Government, this appears to be taking a shotgun to kill a fly. CNBC reports the following.
“But don’t talk to an appraiser or a mortgage broker about it, or you’ll get an earful. Most of them claim it was crammed down the collective throat of Fannie and Freddie by the very powerful Mr. Cuomo, and that it puts good solid appraisers out of business, complicates the loan process for mortgage brokers, and inevitably hurts consumers.”
CLICK HERE TO READ THE CNBC POST
Here is the reality. By not allowing communication with an appraiser, the new rules are hurting consumers. There is no absolute market value for a particular Honolulu home or condominium, there is an upper and lower range of value. If an appraiser is not familiar with an area or if their value cannot be questioned, then low appraisals could end up blowing perfectly good sales. Most sales are subject to the buyer and property qualifying for the financing, so if the appraisal leads to a cancellation of a sale the majority of buyers should be able to cancel the sale and have their deposit returned. But the buyer will have spent money on a professional inspection ($300-$500), appraisal ($500) and other fees associated with the process of buying a home. Upon cancellation these fees will not be returned. Add to this the emotional cost of falling in love with a home and the three to four weeks to find out that the appraisal went badly, and I think there needs to be modifications made to the Home Valuation Code of Conduct.
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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Disclose, Disclose, Disclose in Honolulu Real Estate
April 9th, 2009 categories: For Sellers
Buyer beware? Not really, a recent Realtor Journal article walked through some very good guidelines Sellers and Broker/Agents should follow regarding disclosures concerning the background and condition of a home or condominium. Below is a modified version of the 8 rules advocated by the Realtor Journal. Read the rest of this entry »
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Dropping Inventories Good For Real Estate?
April 8th, 2009 categories: The Market
The Honolulu Advertiser reported “Wholesalers cut their inventories in February by the steepest amount in more than 17 years”. This has to be good for the economy and as the economy improves the Honolulu real estate market should follow.
“The sixth straight monthly drop in wholesale inventories also can be viewed as positive in the long-term because once stockpiles have been adjusted for the economic slowdown, businesses may be able to increase orders for new goods. But in the short run, the reductions will lead to fewer orders and less production.”
CLICK HERE TO READ THE ENTIRE HNA ARTICLE
Call me an optimist, but it makes sense to me that as inventory drops manufacturers will need to build more stuff. In order to build more stuff, they will have to hire more people. As jobs are created and more stuff is built, then the economy should shift? Let’s all work toward making this happen.
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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