Hawaii real estate 
Hawaii real estate
There are currently 18 blog entries related to this category.
November Oahu real estate sales numbers - everyone is wrong again
Sunday, December 12th, 2010 at 1:18am. 428 Views, 0 Comments.
The Oahu real estate sales numbers were released this week, and as many people predicted, there was a large drop in some numbers, especially in condo sales. There were some kind of pessimistic reports out there, but they are wrong.
The total number of homes that sold was 245, down from 258 last year. Only 303 condos sold in November, compared to 402 last year.
Why did Oahu condo sales drop so much? Easy - last year at this time, the first time buyer credit was in full swing. Most of the first time buyers were condo buyers, so of course the numbers are back to normal. In November 2008, there were 195 condo sales, and in November 2009, there were 402! So it seems the government program did work to get first time buyers into the market.
But…
October Oahu real estate sales numbers are out - but everyone is wrong. PENDING SALES ARE UP 28.5%
Wednesday, November 10th, 2010 at 11:52am. 430 Views, 0 Comments.
The Oahu real estate sales numbers are out for October, and you may have seen a not-so-optimistic article in the Star Advertiser today. However, I could not be more sure that our market is about to JUMP UP in sales, because the Star's article missed the most important statistics. . I outline them below. 
Yes it's true that the median price stayed at about $600k last and the number of sales dropped 17 percent to 241 (read: A LOT) compared to from 290 in October 2009.
As the article points out, that was because last year at this time, the effect of first time buyer credit was in at its height.
No kidding. The Federal gov't created a false market, so OF COURSE sales were lower this October. But October is ALWAYS a lot slower than spring and…
Hawaii leads the nation in millionaires per capita
Wednesday, September 29th, 2010 at 10:24pm. 560 Views, 0 Comments.
For the third year in a row, Hawaii led the nation in number of millionaires per capita, with 6.9 percent of resident millionaires, according to an annual ranking by the Phoenix Affluent Marketing Service released today.
The survey defines a millionaire household as one with $1 million or more in investable or liquid assets. It does not include retirement plans and real estate.
Why do we have so many millionaires? One simple answer: It's the nicest place to live in America. Perfect weather all year, white sand beaches, warm water.
Millionaires can live wherever they want, so many come to Hawaii.
Read More at Star.
Forbes says no double dip in housing.
Tuesday, April 6th, 2010 at 12:42am. 509 Views, 0 Comments.
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…
I can predict the future of real estate. Here's how.
Saturday, March 20th, 2010 at 12:58pm. 1007 Views, 4 Comments.
I have a better way to predict the real estate market than any economist on Earth. It's more accurate than anything that a group of Ph.D.'s can come up with by crunching numbers and data. It has nothing to do with stocks, economics, currency markets, the price of oil, or the price of anything at all. It doesn't even have to do with the inventory of homes. I have a data set that, when it's all said and done, is the only set of 'data' that matters. This magical predictor is called - clients.
By about this time each year, I already know who about 70% of my buyers and sellers are going to be. I've been talking to them for months, some of them years, searching for properties, finalizing moving plans, and setting dates to go home shopping. Some of them…
Hawaii school info
Thursday, January 14th, 2010 at 3:08pm. 508 Views, 0 Comments.
Here is a great website to learn about Hawaii schools both public and private. You can search by location, grade, and just about anything you can think of. Schools are always a big concern in Hawaii, the only state in the Union to have a State run Department of Education rather than by local municipalities. There are good reasons for this, but there are also big drawbacks.
Anyway here is the Hawaii schools site.
New homes still going up in Ocean Pointe
Wednesday, December 23rd, 2009 at 8:09pm. 965 Views, 0 Comments.
Everyone here thinks of it as Ocean Pointe, but the
real name of the new development is now "Hoakalei and Ka Makana." I'm not sure why they chose such a difficult name, but that is what the sign says. Technically, Ocean Pointe is done, and now it's on with the new part of the development.
I was there yesterday with a client, viewing the brand new homes and models. It's tempting, with all the great things that come with newness, but right now the waiting list is literally 6 months long. If you show up right now with cash, they can't sell you a house until about June or July, maybe August.
Homes have been selling there like hot cakes, and every home we were looking at has a waiting list about 7 people long. Priced between about $500k and $1million,…
Rail tax income down, Mufi's Rail plan to continues anyway
Tuesday, November 17th, 2009 at 1:24pm. 600 Views, 0 Comments.
I guess at this point, the Rail program is about as hard to stop as an oncoming train, but today the Honolulu Advertiser reported that "Tax collections needed to build Honolulu's planned $5.5 billion elevated rail transit line fell 30 percent in October from a year earlier. The total collected — $8.9 million — was the lowest amount since February 2007, when just $2.2 million was collected during the second month after the excise tax surcharge was enacted."
If a person put their business or family in a position to spend money they didn't have with no prospect of being able to pay it back, we would call them stupid. In the case of the Rail program, we call that - government.
The explanation from City officials seems almost like sarcasm - They "have…
Oahu home inventory PLUMMETS to 4 year low
Monday, October 12th, 2009 at 2:59pm. 582 Views, 0 Comments.
1289 and 1864. That's the number of homes and condos available on Oahu, respectively. Those are the lowest numbers since fall 2005. The lowest number of homes available in 2006-2009 so far was 1600. Perspective - it's only 5.4 months of inventory!
No wonder my buyers have had a hard time finding homes to buy, while my sellers have been selling quickly with multiple offers. No wonder my clients looking for a water front townhome in Hawaii Kai are having a hard time. Usually there are a dozen to choose from, but not anymore.
Is it the low rates? The tax credit? The economy bouncing? Whatever it is, the inventory only proves again that Oahu is the best place to buy and hold real estate!
Hawaii Real Estate Inventory down even more
Monday, September 28th, 2009 at 6:49pm. 560 Views, 0 Comments.
The stats are not posted yet, but I can tell just by searching for clients that inventory is down overall. I'm sure the stats, which come out on the 1st, will show an even smaller amount of homes for sale, even as sales picked up yet again.
Case in point - I have a buyer waiting for a Kuapa isle listing on the water. None are available.
I have another client looking for a home in Ocean Pointe, Ewa Beach. Can't find except the 5 short sales.
Multiple Buyers looking all over the island, up to $5million, and it's very hard to find. I have clients looking for $10mil homes on the water and there just aren't as many as there used to be!
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