April 2010

Found 8 blog entries for April 2010.

 Are you looking for a unit in Nanea Kai?  nanea kaiIt's been several months since a 3 bedroom unit has been for sale there.  I know of one  about to come on the market Thursday.  A friend of mine is the listing agent, and nobody else knows about it. 

It is a corner unit about three buildings from the post office.  The seller says it is in excellent condition.  Square Feet is about 1,582, with 1-car garage plus the lanai.  Listed for $595,000.  

Interested?  Let me know fast! It's going to have multiple offers, guaranteed!

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PBN reported today that Visitor spending in Hawaii increased 12.7 percent year over year to $874.2 million in March, thanks to across the board gains in visitors from Hawaii’s major markets. 

Air arrivals were 596,969 in March and cruise ships brought in 10,740 visitors.  Maui led the growth in visitor spending with a 25.2 percent increase to $257.7 million thanks, to a 14.2 percent increase in arrivals. 

HTA said the strong gains on Maui were a result of new air services added in March from Edmonton, Calgary, Orange County, Los Angeles, San Jose and Sacramento, along with other new routes to Maui that began in late 2009.

More good news for tourism officials: Hawaii saw increases in arrivals from Korea and China, two markets that the state is…
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I recently referred a client to a loan officer, and before he would call the guy he said, "Is this guy with a reputable company that is with and not some fly by night place?"

My response: "Reputable?  You mean like Countrywide?  Lehman Brothers?  Or maybe AIG?" 

We both had a laugh and of course he realized that no matter how big or reputable a company may seem to be, there is no way to know if the company will be around very long.  But one thing I have noticed is that the good loan officers who have done a good job for the last 10 years are still around. They may have gone from one big bank to another, to a small broker, to a consolidated lender - but they are still there.  The bad ones are now waiting tables. 

I know one lender who went

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The beautiful condo I posted yesterday for $650k has already sold at full price, in less than 24 hours.  That's just the market right now.  The condo was listed at about noon yesterday, and by 11pm I had received an offer, several phone calls, and tons of other interest.

In this case, the buyer was very wise - he acted quickly, didn't low ball, and presented a very clean offer.  I can guarantee that if all those things didn't come together, he would have been waiting around all weekend to see if we got other offers, which I'm sure would have been the case. 

My sellers also acted wisely - didn't price too high, didn't wait around to see if other offers came in, and didn't counter offer.  Sometimes sellers want to counter even higher than their

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The Advertiser reported today on the housing stats that were released by the Board of Realtors this week.

"O'ahu's housing market appears to have established a firm footing toward recovery, with sales activity in March marking the third consecutive month that single-family home median prices rose over the same month last year."

"However, some observers wonder whether the improvements will continue after federal tax credits for home purchases expire at the end of this month, which is keeping some leaders of the industry from proclaiming that the market is rid of weakness in home prices."

The median price of single-family homes rose 4.2 percent to $599,000 from $575,000 a year ago. 
The number of homes sold was up 32.1 percent to 251 in March from 190 a

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 Just listed this morning, an 11th floor ocean view condo in Makiki.  dsc_1014_400The best thing about Makiki of course is location, and as the best high rise in the area, Mott-Smith stands out among most in Honolulu.  The unit comes with assigned parking for 4 cars (or 5 small ones). There is a beautiful pool, hot tub, tennis courts, meeting room, and bbq areas. 

This great 3bedroom 2bath condo with 1167sqft + almost 200sqft of lanai will sell quickly!  The closest available listing in the building is nearly $80,000 more for the same unit on a higher floor!  

Mott Smith is a great building with security guard, full time management, and well kept amenities. Don't  miss out!  Everything is selling fast these days!

 

 

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The Fed stopped buying bonds, which means mortgage rates are up, but there won't be a double dip in housing according to an article in Forbes today.  Not sure if I agree or not, but the article is certainly compelling.

They state 5 reasons: 

First, the Fed is not planning on suddenly selling its holdings.

Second, they do not expect mortgage rates to suddenly spike as the Fed exits the market. Today, even though the Fed has ended its program of purchases, the "spread" between mortgage rates and the 10-year is only 120 basis points. Mortgage lenders are not having trouble finding the funds they need to lend.

Third, the amount of lending necessary to support the housing market in the next year is not particularly large by historical standards. 

If

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Last week my clients Dustin and Leslie purchased a beautiful Moana Kai townhome in Hawaii Kai.  This complex is really popular right now - as another client of mine is now buying a beautiful unit to close later this month. hawaii kai townhome

This unit has newly installed travertine tile floors, giving it a very elegant look.  Check out the kitchen with granite counters. 

Listed for $645k, this townhome has over 1760sqft, 3 bedrooms, 2.5 baths, and a large loft that can be a family room or office.  

Moana Kai is just about the best deal for newish condos in Hawaii Kai.  Just below is Nanea Kai, but there has hardly been anything for sale in there for a long time.  

Congrats to Justin and Shannon for buying a great home and for their soon coming baby!  They'll be

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