Honolulu Population Growth
March 30th, 2009 categories: Rants & Riffs
According to the Census Bureau, Honolulu’s population grew from 900,525 to 905,034 people from July of 2007 to the same in 2008. Though it is a small amount of growth, it sure beats the shrinkage I hear some other states are experiencing.
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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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Things Honolulu Sellers Need To Hear
March 2nd, 2009 categories: For Sellers
Last week I helped a buyer purchase a property. One of the keys to getting the buyer the property at the price the wanted it at, was a cover letter that outlined some of the realities the sellers face in this market. Note that the sellers broker thanked me for writing the letter. Also, I have changed the price and figures to protect the innocent. The basic letter is posted below and I hope that it will give you insight into our market. Read the rest of this entry »
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When The Best House Might Not Be The Best Investment
February 25th, 2009 categories: For Sellers, Rants & Riffs
With the upheaval in the Oahu real estate values, buying the best house might not be the best investment. Below are two fact sheets for homes that are priced just under $700,000. The Ocean Pointe home is 2,894 square feet, double wall construction and was built in 2007. It is a very nice house and it is priced at $698,000. The second home is located in Manoa on Sea View Avenue (about two blocks from the University of Hawaii); it is 1,900 square feet, built in 1980 and is priced at $685,000.
Ocean Pointe
Sea View
At first blush, one would assume that the Ocean Point home is the better buy. It is newer, larger and in a planned community. However, over the next 2 to 3 years, I would not be surprised to see its market value drop dramatically! Here’s why. Read the rest of this entry »
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Banker Writes On Mortgage Bailout
February 24th, 2009 categories: Rants & Riffs
This interesting letter was posted at Hugh Hewitt’s blog.
“The refinance plan applies only to those whose loan is owned or securitized by Fannie or Freddie. This part actually will work. What this part really does is reduce underwriting criteria at Fannie and Freddie. It enables homeowners whose loan-to-value ratio would be over 80% to qualify to refinance.”
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