February 2010

Found 7 blog entries for February 2010.

As I mentioned on Geek Estate Blog, I've decided to do a case study to determine the effects of having a spiderable IDX on my site. Since my site doesn't have a lot of authority just yet, I've asked Morgan Carey of Real Estate Webmasters to show me data from other clients' sites (with their permission), so I could see how sites with high authority do with their spiderable IDX.

I had Analytics installed at the same time as my spiderable IDX, so unfortunately, I can't show you a before/after with mine. I have however, been given permission by Nashville Real Estate Agent, Gary Ashton to show his before & after results. Gary's got a high authority, high ranking site, that's been around for about 4 years. However, he only had spiderable IDX added

75,529 Views, 6 Comments

At least one guy thinks so, and he's featured in this article in Forbes. 

""We need one and a half million houses per year just to keep up with population growth," Wesbury said in an interview with Steve Forbes. 

"And then if you throw in, you know, fires and tear-downs and just worn-out properties, we need 1.6 million or more per year. Right now, we’re down to about six and a half, seven months’ inventory whether you look at new homes or existing homes."

"Housing completion numbers also contribute to this dire picture, with December 2009 privately owned housing completions reaching a 768,000 seasonally adjusted annualized rate. That’s down 11.2% from the 865,000 completions in November and down 25.3% from the 1,028,000 completions in

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dsc_0347_400This cute old house in Kalihi Valley will be on the market on March 1st. Right now we are painting, fixing things, removing clutter, and redoing the bathrooms a bit.  At about 1400 sqft (not all permited) the house is a bargain at $550k.  I put the sign up last night and I've already recieved 2 calls this morning.

Offers will be reviewed March 10th or later.  

This hous is located just a mile off Likelike hwy on a quiet street.  The owners have been in the house since 1958, when it was first built. Since he was a carpenter, he kept the house in very nice condition. 

When it is available it will have new paint, new toilets and fixtures, new lights, and best of all, freshly polished wood floors that were protected by a layer of carpet for over 30

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How many people are actually going to ride the Rail?  The City of Honolulu says that 97,000 people are going to ride it, and that is a pure lie.  Even in Houston Tx, where the population is  5 times higher, and the traffic far worse, only 38,000 people ride the rail system.

Will Honolulu succeed in getting approximately 6 times higher percentage of rail riders?  Hmmmm.. Take a look at this chart created by Panos Prevedouros, civil engineering professor at UH, and candidate for Honolulu Mayor (hopefully).  

The numbers are absolutely clear - the number of estimated riders of the Oahu Rail system is a total fabrication by the current Honolulu City administration. The city should cancel this underfunded, over hyped project which is not going to cut

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Many of my buyers are finding out that they need to act quickly if they want a home that is priced well. Last week a client of mine wanted to view  a new listing in Kailua, and we found out that it had 17 offers, above asking.  It was sold in 3 days.  Then this weekend I viewed a nice house in Ewa Beach, that sold with 2 full price offers within 5 days. 

Every Realtor I have spoken to in the last few weeks has said the same thing - that buyers are getting outbid, and sellers are receiving multiple offers, fast. 

My tips for securing a home in this market - 

  1. Don't be stingy with a few thousand dollars.  Seriously.  If you miss a home over $5000 because you didn't want to pay the list price, it's your own fault.  In this market, any home
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The Advertiser reported today that Bed Bath and Beyond is finally opening in Hawaii.  Last year we got our first Target and Victoria's Secret, and my wife and all her friends jumped for joy.  It's good news, but for me it's mostly about the jobs and economic benefits of another business on Oahu. 

 Now all we want is Bath and Body Works.  One more reason to live on Oahu.  

9,437 Views, 1 Comment

Last March I predicted that the bottom of the market had passed, and that 2009 and 2010 would see rising prices and sales.  Well, this past month we saw increases in both the median price and sales volume of homes around Oahu, compared with the same month a year ago.

The median price of single family home sales in all of Oahu rose to $597,500 in January, a 10.8 percent increase from $539,500 in January 2009. Did you let that sit for a minute?  A 10.8 percent increase in just one year?  That is a seriously good market in any economy, especially one of the worst economies of the last 100 years! 

On top of that there were 162 homes sold, which is up 32.8 percent from a year earlier. Would you have thought that January 2010 would see such a massive

1,424 Views, 0 Comments