June 6, 2020

Oahu Top Buyers of 2019

 

A report by First American Title broke down the 2019 Oahu buying market by country, state, and region. According to the report, the top four buyers on Oahu in 2019 were:

1.    United States: 11,569 buyers, Sale Price Sum: $8,082,383,847

2.    Japan: 242 buyers, Sale Price Sum: $242,751,568

3.    Canada: 26 buyers, Sale Price Sum: $16,728,167

4.    South Korea: 23 buyers, Sale Price Sum: $27,053,963

 

According to the top buyers by state, the number of buyers from Hawaii was drastically more than any other U.S. state. Below are the top five buyers by state:

1.    Hawaii: 10,563 units sold

2.    California: 439 units sold

3.    Washington: 85 units sold

4.    Nevada: 49 units sold

5.    Texas: 39 units sold

 

Lastly, the report highlights the top buyers per zone on Oahu in 2019. It is clear how the Kapolei area continues to grow with new neighborhoods and businesses, giving credit to its title as Oahu’s Second City.

 

The three zones on Oahu with the highest number of buyers were:

1.    Zone 9 with a total of 4,153 buyers

a.    Zone 9 includes communities such as Kapolei, Ewa, Waipahu, and Pearl City

2.    Zone 2 with a total of 3,798 buyers

a.    Zone 2 includes Honolulu and Waikiki

3.    Zone 3 with total of 1,176 buyers

a.    Zone 3 includes Kahala and Hawaii Kai

 

Overall, Oahu remains a sought-after place to live and work, reflected by its prevalent real estate market for many buyers.

 

If you have any questions about the current housing market, do not hesitate to give Team Aloha Tony a call today!

Posted in hawaii real estate
May 30, 2020

94-347 Kaholo St in Mililani

Just listed! We are thrilled to represent this beautiful property in Mililani, with 5 bedrooms and 2.5 baths for $959,000. This is the best home available right now in Mililani under $1million. 

Please watch the video walk through of this great property: 94-347 Kaholo St in Mililani! 

May 28, 2020

Mortgage rates hit record low

 

According to a market survey by Freddie Mac, mortgage rates dropped to an all-time low as of Thursday, May 28th.

 

The 30-year fixed-rate mortgage has again hit the lowest level in our survey’s nearly 50-year history, breaking the record for the third time in just the last few months”, Freddie Mac reported.

 

Mortgage rates fell to an average 3.15% for a 30-year-fixed-rate-mortgage, compared to 3.28% at this time last week.

 

 

With interest rates at a historic low, now is a great time to speak with a real estate professional about moving forward in your buying process. Taking advantage of these record low mortgage rates today could save you a lot of money in the long run.

 

This is also good news for anyone considering selling, as low interest rates are drawing homebuyers back to the market.

 

Whether you are considering buying or selling, be sure to connect with a trusted real estate expert to help you make informed decisions.

 

Contact Team Aloha Tony today!

 

Posted in Market Updates
May 12, 2020

Oahu home sales price holding strong

 

According to the latest report released by the Honolulu Board of REALTORS ® on May 6, last month’s (April 2020) median sales price remained steady and even showed a slight uptick compared to last year.

 

The report showed single-home median sales price had risen 5.5 percent to $809,000 compared to $766,650 in April 2019. The median sales price for condominiums also rose 7.4 percent from $418,950 to $450,000 compared to last year at this time.

 

Although COVID-19 has affected the number of listings on the market, Tricia Nekota, president of Honolulu Board of REALTORS ®, remains confident that “once consumers begin to feel some relief from the impacts of the pandemic, it’s likely we will see listing and buying activities slowly increase”.

 

In the meantime, Nekota also added that “despite our low inventory, REALTORS® continue to help serious buyers secure their perfect home.” If you are considering selling your home, now may be a great time as sale prices remain steady and buyer options may be limited.

 

Contact Team Aloha Tony to speak with a trusted real estate advisor today!

 

Posted in Market Updates
May 5, 2020

3591 Kumu st Manoa MLS 202001562 Video Walk through

Please watch the video walk through of our beautiful listing at 3591 Kumu st in Manoa.

MLS 202001562 

4 Bedrooms 4 Baths, 2,401 SQFT Living Area 7,500 Square Feet of land, built in 1960

 

May 4, 2020

840 Kakala St #102 Video Walk through

Here is a video walk through of our listing in Kahiku at Mehana, in Kapolei. 840 Kakala st, #102 has 3 bedrooms, 2.5 baths, 1524 square feet interior, and an enclosed yard and garage. 

This town home is immaculately-maintained, most popular "Sunbeam" model boasts the largest living room/dining room/family room area downstairs in Kahiku, with a spacious Master Bedroom upstairs that comfortably fits a Cal-king bedroom set and more!

You will love this beautiful, pet-friendly, family-friendly, everybody-friendly neighborhood, close to Costco, Kapolei Commons, local eateries, and the award-winning Hookele Elementary School.  Kahiku has a pool, parks, and doggie parks - all within walking distance! Featuring upgraded flooring, countertops, appliances, window treatments, and so much more.

Please watch the video here:

 

April 14, 2020

Promising signs of recovery in real estate market

 

As coronavirus restrictions continue to lift in China, the country’s real estate sales

“reached 5,976 on March 31 – an enormous increase from a low of 22 on Feb. 8,

when the country was at the height of the pandemic”, reported an article from

Inman.

 

The article examined a report from Knight Frank, which showed this uptick in

real estate sales across 30 of China’s major cities:

 

 

“The reopening of workplaces between mid-February and early March was

reflected in a substantial recovery in activity across different sectors, the recent

uptick in property transactions suggests this filtered through into buyer

sentiment with a degree of pent-up demand being released”, reported Kate

Everett-Allen of Knight Frank, the Head of International Residential Research.

 

If this is indicative of what will occur in the U.S., then we could expect a

similar bounce back in real estate sales when restrictions are lifted. According

to an article in The Dallas Morning News, Robert Dietz, chief economist with the

National Association of Home Builders, supported this idea. “The housing sector

enters this recession underbuilt rather than overbuilt…that means as the economy

rebounds — which it will at some stage — housing is set to help lead the way out”,

stated Dietz.

 

It is more important than ever to find a real estate expert you trust to help you

make informed decisions. We would love to help walk through any questions or

concerns you may have. Connect with Team Aloha Tony today!

Posted in Market Updates
March 9, 2020

Take Advantage of Low Mortgage Rates

 

On Friday, March 6th, Honolulu Board of Realtors released the monthly housing market update, stating that single-family home sales increased 18.8% from February 2019.

 

“While COVID-19 presents new concerns and uncertainty in the general economy, the impact on our housing market remains to be seen,” said Tricia Nekota, president of the Honolulu Board of Realtors, in a written statement. “However, we anticipate that homebuyers will continue to drive steady activity as they take advantage of historically low interest rates.”

 

 

“Mortgage rates play a significant role in how much home you can afford, and it's important to watch them carefully as a homebuyer.” Freddie Mac reported.

 

Today, the mortgage rate is low at 3.375%With such low rates, now would be the perfect time to connect with a Real Estate expert to discuss how these rates could benefit you.

 

It’s also important to remember that mortgage rates change often so waiting is not always the best option. According to Freddie Mac,“Over the last 45 years, they have ranged from a high of 18.63% (1981) to a low of 3.31% (2012)”.

 

Contact Team Aloha Tony today so you don’t miss out on these low mortgage rates!

 

 

Posted in Market Updates
Feb. 19, 2020

Don’t Miss This Elegant, Fully Renovated Manoa Home

 

 

This luxurious home was recently remodeled this year with updates such as real

hardwood floors, brand new AC systems, updated plumbing and electrical,

a new roof, two upgraded master bedrooms and an immaculate master bath.

 

 

 Listed at $1,998,000, this chic home is the perfect place for hosting all your

family and friends as it offers a classy wet bar and two spacious lanais to

enhance all your social gatherings.

  

 

 

 The ten-foot ceilings and expansive windows flood the living room with natural

light and endless, green mountain views. As an added bonus, these peaceful

mountain views can also be enjoyed from the comfort of the master bedroom.

 

 

 

Exceptional accents throughout the home, such as these gorgeous sliding wood

doors and stylish wood beams, add a modern and unique element that elevate

this already striking home.

 

 

 

This stunning house at 3591 Kumu Street is 2,401 square feet with 4 bedrooms,

4 bathrooms, and a 2-car garage on 7,500 square feet of land. Overall, it is clear

this home is a must-see!

 

 

Contact Team Aloha Tony today for more information!

 

Feb. 12, 2020

Windward O’ahu property crowned “House of the Year”

 

House of Year

 

It’s no surprise that Hawaii is a coveted spot for beautiful houses but now, for the second year in a row, Hawaii is deemed to be home to the best of the best. Readers of The Wall Street Journal recently named a stunning oceanfront property in Lanikai, Kailua as the 2019 “House of the Year”.

 

 

This state-of-the-art home designed by Jim Jennings at 1240 Mokulua Drive, Kailua is listed by Ruthie Kaminskas at Elite Pacific Properties for $21 million. According to the Journal, this single-family home was the second highest priced listing among the 52 candidates for “House of the Year”. 

 

The property includes a four-bedroom, four-bath main house with a four-bedroom guest house, one-bedroom caretaker’s cottage, and offers an incredible view of the Mokulua islands.

 

 

This home is the highest priced listing in Lanikai and one of the highest listings on O’ahu, Pacific Business News reported.

 

If you are interested in learning more about the current listings in Kailua or throughout O’ahu, give Team Aloha Tony a call today!

 

 

 

Posted in Kailua real estate