March 5, 2015

CONFUSION IN HAWAII KAI....Is it Mariners Valley, or Kamilo Iki valley???

    Many people get confused when Realtor's talk about Mariners Valley in Hawaii Kai. They say, "Do you mean Mariners Ridge????" Nope. Im talking about the valley that's nestled between Mariners Ridge and Kamehame Ridge, Mariners Valley. It goes by a few different names, depending on what area of the valley you're talking about....Mariners Valley or Kamilo Iki Valley are the 2 that are widely used. They're based on the legal descriptive names of the area and the subdivisions used in the property tax records for Honolulu County. 

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An aeriel  view of Mariners Valley from the ridge above

    There are single family residences and also townhomes in Mariners valley. The valley is in a really great area of Hawaii Kai, right in the middle. But it's tucked back so that you get a nice suburban and quiet feel here. Koko Head crater looms overhead so most of the residences get a nice view of it, at least from the streets. And in the back (top) of the valley, some homes even get Hawaii Kai town views and some partial ocean/marina/canal views. 
    At the beginning of the valley there are numerous soccer fields, a skate park, basketball courts and playgrounds.  Up from there is Kamilo Iki Elementary School.  There is also a park (Kamilo Iki Neighborhood Park) about halfway into the valley with a playground, basketball court and a soccer field space. And if you want to catch the bus, there are a few stops on Lunalilo Home Rd. 

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Mariners Valley 3 Townhomes 

     The townhome subdivision is called Mariners Village 3. Prices range from  $448K-$607K  (in the last year) and they have units with 2-4 bedrooms and range between 850-1356 sq ft. The lower priced one's may possibly need some renovations, but the reduced price and being in Hawaii Kai are 2 great reasons to check these out! I've seen these units after they've been fully renovated and they're awesome! The neighborhood has a pool and clubhouse available to the owners and floorplans are spacious and buildings and grounds  have been well planned and maintained. 

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Kalapaki St single family home in Mariners Valley 

     There are also many single family homes in the valley that range from $750K-$1,078,000 (in the last year), and land sq ft range between 5,200-13,700 sq ft. If you know your rules of real estate in Hawaii, then you know that the more land you have, the more you'll pay for the home. It's a commodity that we, unfortunately, cannot produce any more of on this island, especially on this side as most of the usable land has been developed already. 

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View from the lanai of a single family home in the back of Kamilo iki Valley 


    Hawaii Kai is such a desirable area to live in with the close proximity to great beaches, town, shopping and restaurants. On top of that, the highly rated public schools put Hawaii Kai home values up on the top.  Mariners Valley/Kamilo Iki Valley are a wonderful option for buyers to consider here. Log onto alohatony.com to get customized information on Hawaii Kai and other neighborhood's on Oahu. -Mahalo

By: Chelsea Pferschy RS# 76072 (808) 754-6000

Posted in General
Jan. 22, 2015

Lakefront Kailua, MLS: 201500233

Check out our lakefront listing in Kailua!

Experience island living at its finest in this beautiful corner-lot Kailua home on the water. Over 2700 sqft total, 4 bed 2 bath. Features a brand new kitchen, heated tile pool, dock on the lake, boat parking and mountain and sunset views. Wide open layout, newly remodeled in 2014. Includes PV panels for water, electricity and pool. See 68 hi-res pics at http://www.alohatony.com/kahili/

 

Enchanted Lake (also known as Ka‘elepulu Pond) covers about 95 acres in Kailua, Hawaii. It connects to the ocean at Kailua Beach Park via Ka‘elepulu Canal. Access to the lake is exclusive to residents and members of the Enchanted Lake Residents Association (ELRA). Last year, to the delight of pond fishermen, the population of local fish species ama ama and papio increased. In addition to fishing on the lake, residents organize Holiday Boat Parades. More information on Enchanted Lake and ELRA can be found at the association website: http://www.kaelepulupond.org/

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 Here's the view of Ka'elepulu Pond from behind the house.

 

 

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This home features a private dock on the lake. 

 

 

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Beautifully renovated kitchen 

 

 

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Spacious Master Bedroom

 

 

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 Newly grassed front yard on a corner lot 

Posted in General
Jan. 21, 2015

Real Estate in Hawaii 2015....Climb aboard, or jump ship?

   You may have noticed that home prices are increasingly rising in Hawaii. Sellers are receiving multiple offers and backup offers due to low inventory. This has resulted in above asking price offers. Lets talk about how real estate is expected to be affected in 2015. Or rather, how it will affect you as a homeowner and/or a buyer. 

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Photo: Hoakalei master planned community 

   The median home price (on this rock, Oahu) has steadily risen in the last 5 years, since the bubble burst. (which I might add, only affected home prices minimally in comparison to our mainland comrades) It is currently at $690K and economists believe that by 2020, the median home price on Oahu will be $1M. Some even believe that it could double by then. 

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Photo: Sunrise in Kailua/Lanikai

   During the last surge in home values back in 2005-2006, local lenders stayed conservative, that helped Hawaii homeowners hold onto their homes, and protected our home values as well.  We only saw a 3% drop in 2008, 7.9% drop in 2009 and then in 2010, prices started to slowly rise again. This shows the true strength of the Hawaii housing market.  

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 The housing market went up 3.8% for single family homes, and 5.4% for condominiums this last year alone. Supply and demand play a big part in our market, that along side with living in a beautiful place with a perfect climate. This makes it increasingly more difficult for non-homeowners, but specifically younger people, to become homeowners, which then drives up rental rates as well. But despite new home development on the Ewa plain and in Kakaako, the inventory is still low. Average time on the market has also gone down each year.

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Photo: Hawaii Kai to Diamond Head from the summit of Koko Head Crater


   You may think that as a buyer, your going to experience the downside of the Hawaii market, well not so much. Experts at the Honolulu Board of Realtors say that if you jump in, and take advantage of low interest rates now, you will profit in the end.  Interest rates still remain low, which helps buyers attain higher loan amounts. There are also many options for buyers here, like USDA 100% loans, VA loans and even seller financing. 


    But many Realtor's agree: Buyers, be prepared to meet or exceed asking prices. Be completely pre-approved with a lender before making any offers.  Your agent may want you  to send a letter about yourself/your family to get the sellers attention on your offer. And most importantly, be prepared to move fast! 


   If you're starting to build your real estate portfolio or expanding it, purchasing in Hawaii can be a safe move for you....
Where do you want to be in the year 2020?    

By: Chelsea Pferschy RS# 76072

Posted in General
Dec. 23, 2014

What Honolulu's Record High Median Means For You

The median home price in Honolulu reached a record high of $719,500 in November. This exceeds the summer high ($700K in June '14) and reflects a 5% increase over last year. This year-end peak follows a $50,000 drop in median home price between June and August.

Three months ago, I wrote an article in which I highlighted a notable trend in Honolulu real estate, making two main observations:

1. That median prices tend to take a dip in the autumn, between highs in the summer and winter
2. That the end-of-year peak will likely surpass the summer peak.

Here's an excerpt from that September post:

"In two out of the last three years, the median price in the winter exceeded the previous summer high. While we can't say with certainty that the median price this December will be higher than $700k, it's a safe bet to say that it will be higher than August's $650K."

And so the trend holds. I created the chart below so you can see the ebb and flow from 2011 to 2014.

Median Sales Prices on Single Family Homes (Oahu)

Midyear Peak

 Autumn Low

Winter Peak

2014     

$700,000 (Jun.)

$650,000 (Aug.)

$719,500 (Nov.)

2013

$677,250 (Jun.)

$647,000 (Jul.)

$685,000 (Dec.)

2012

$664,000 (May)

$609,000 (Aug.)

$640,000 (Dec.)

2011

$595,000 (May)

$557,500 (Aug.)

$605,000 (Dec.)

Confidence for sellers and buyers

This is encouraging news for both sellers and buyers.

Sellers can take confidence in the fact that Hawaii's real estate market is still going strong. "The demand for homes continues to outpace current inventory levels." said Honolulu Board of Realtors President, Julie Meier. More demand than supply means higher prices and therefore, more money for the seller.

Buyers can also take confidence in the strength of our market. When the cost of a commodity rises, so does its value. For instance, the higher the price of gold or oil, the more valuable it is. Similarly, as home prices have been on the rise in Hawaii, we have seen a corresponding rise in home values. The trend of a healthy annual increase in Hawaii home value is good news for future home owners, as owning Hawaii real estate remains a solid opportunity to build wealth.

Importance of finding a good realtor

But how important is it really to track trends? Not nearly as important as finding a knowledgable realtor -- especially in a unique market like Hawaii. Good realtors are able understand trends and act accordingly. For example, on a recent sale, our buyer's offer beat out three higher priced offers on the same home.

What made our lower-priced offer stronger than the others? We included an appraisal clause in our offer (which none of the other agents did for their clients). Upon hearing that all offers were over asking price (as would be ours), we asked our buyer if they would be willing and able to furnish cash to cover the difference if the appraised value came in under their offer price. If so, the seller wouldn't have to worry about the deal falling apart because of the loan.

In the end, the appraised value matched our client's offer price! And because there was no difference, the loan was funded with no hiccups and our client never had to bring in the extra cash we referenced in the contract.

What does this have to do with the rise in median home prices?

We didn't just get lucky. We saw the trends and anticipated that the home was worth more than what the seller was asking. In light of this, we let our client know his options and the associated risks, equipping him with the information he needed to make a confident decision -- a decision that paid off in the end.

But it all starts with one decision: which real estate professional will you choose?

 

Posted in General
Dec. 3, 2014

Kuapapa at Hoakalei

 

Kuapapa at Hoakalei is comprised of 4 collections (price ranges)  that all have customizable floor plans in variable price ranges.

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Loulu-  the Loulu collection of charming seaside-style cottages have 4 plans that start in the $600's. Residence 25.10, 25.20, 25.30 and 25.40 range from 1628-1864 sq ft. They  include three or four bedrooms, and an available main floor master suite.

 

 

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Naio- The Naio collection is in the same vein as the Loulu collection, with a bit more space and more refined interior finishes. There are 4 plans that start in the mid $700's. Residences 45.10, 45.20, 45.30 and 45.40 range from 1,997 to 2,381 and have four to five bedrooms and up to three full baths.

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Koa Lifestyle series- The Koa collection features 2 floor plans, both with attached 2-car garages. This collection starts in the mid $900's and has between 2545 sq ft (65.10 plan) and 2612 sq ft (65.20plan), and both have 4 bedrooms and 3 baths. These 2 home plans have a free flowing, open 'great room' layout. 

 

Koa Premier Series- This is the top of the line series in Kuapapa-Hoakalei. It consists of 5 plans that start in the mid $900's and go up to $1.1M+.  Residences 60.10, 60.20, 60.30, 60.40 and 60.50 are between 2123 sq ft and 3552 sq ft, with 3, 4 and 5 bedrooms, and 2.5, 3.5 and 4.5 bathrooms. They tout large open, great room layouts, with opulent master retreat and bathrooms. They also, all have attached 2 and 3 car garages. 

 

 

With home ownership in Hoakalei, you get privileged access to the new Wai Kai Hale Club and the planned neighborhood pool and spa. The Wai Kai lagoon, when finished, will be the largest manmade body of water in Hawai'i. The Wai Kai Lagoon is envisioned to be the centerpiece of the resort district and they hope to make this neighborhood a one stop shop for finicky "2nd home" and "resort home" buyers on the west side of Oahu. 
There will be a neighborhood pool/spa and playgrounds. The Wai Kai Hale Club will be on the shore of the lagoon, there you can gather with friends, BBQ or launch your kayaks, paddle boards, and surf boards. The Hoakalei Resort, designed by Haseko Development, Inc., is a 726 acre master planned destination community and currently includes an 18-hole Ernie Els designed champion golf course.

 

 

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Call Team Aloha Tony, for independent and personal representation and assistance in finding the new home of your dreams at Kuapapa, Ka Makana, and Kipuka at Hoakalei, today.

 

-Chelsea Pferschy RS# 76072

(808) 754-6000

Posted in General
Oct. 19, 2014

91-1032 Kaimoana St. Ocean Pointe MLS: 201419203

Check out our new Ocean Pointe listing in Ewa Beach! This immaculate 5 bed, 3 bath shows like a model home and has over 2700 sf interior living space. Upgrades include plantation-style shutters and built-in desks and closets. 

Built in 2006, this Ocean Pointe home is located just a mile away from the brand new Laulani Village Shopping Center, where you'll find Safeway, Ross, Petco, Walgreen's, Panda Express, Starbucks and other great shops.

The kitchen has a wide open feel with stainless steel appliances. The master bedroom is spacious and features two walk-in closets. 

The house is not located on a busy, main road (like some homes in Ewa Beach), so no need to worry about heavy traffic passing by your home. It takes less than a minute to get from the house onto Kapolei Parkway, which provides convenient transit between Ewa Beach and Kapolei. 

And this is a huge plus: directly across the street is a grassy neighborhood park, so the view from this home will not be obstructed by future construction close-by. The house also comes with a gas BBQ range out back. 2-car garage with a covered, gated carport for a 3rd vehicle. 

 
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This beautiful exterior welcomes you home!
 
 
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Living and dining area on the first floor
 
 
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High ceilings and attention to detail throughout
 
 
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Stainless steel appliances in the kitchen
 
 
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Master bedroom
 
 
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Just one of 5 bedrooms in this spacious home
 
 
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Upgrades includ built-in shelves and desks
 
 
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Here's a shot from the front porch
 
 
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Plenty of space in this two-car garage and covered car port
 
 
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Gas range included. Great for entertaining!
 
 
74_copy_800_800This is the park located directly across the street from the house.
Posted in General
Oct. 17, 2014

Kaneohe real estate....where town meets country.

Sometimes when you think of real estate on Oahu, you may think....Honolulu, big city, traffic, high rise buildings galore, etc. (Or maybe you're thinking grass huts and splitting open coconuts for breakfast. By the way, if this is you, then you REALLY need to visit Oahu!) But there is a special place that is sometimes overlooked by many people when thinking about real estate ....Kaneohe!

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 Its close proximity to the H-3, the Likelike highway, and the Pali highway make it super convenient for anyone to commute into town, the west side, Pearl Harbor or the east side. And the best part about Kaneohe real estate is that you can get away from it all, have a home that has amazing views of the jagged peaks of the Ko'Olau mountains, even ocean views, be close to some of the most beautiful beaches on earth, and at the same time get that "country" feel right here on Oahu. Kaneohe real estate is vast and varied as well. You can find condominiums, town homes and single family residences.
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The Marine Corps Base Hawaii, formerly Marine Corps Air Station Kaneohe Bay and originally Naval Air Station Kaneohe Bay, is a U.S. Marine Corps facility and air station located on the Mokapu Peninsula of Kaneohe, is also here. Many military familes find their homes here for this reason and this adds to the family friendliness of this area. 
 
 Geographically, Kaneohe is only 7 miles northeast of Honolulu on the windward side of the island (this is where our weather systems usually meet our island first, hence the name windward.) The population of Kaneohe is approximately 35,000 people.
 
  There is a lot to do in Kaneohe. There are a few nice malls to shop in, (Windward Mall and Kaneohe Bay Shopping Center are the 2 main ones.) the Ho'omaluhia Botanical Gardens, the Byodo-In temple, many golf courses, many restaurants and its not far from attractions in town like the Honolulu Zoo, the Honolulu Museum of Art, the Bishop Museum and beaches in Waikiki.
 
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   Kaneohe has every stage of lifestyle to offer as well. There are starter condo's , luxury condo's, townhouses and single family residences. There are also many retirement communities and nursing homes.
   Many people who were born and raised here say "I've lived in Kaneohe my entire life. I went to elementary, Jr. high and high school here, and this is the BEST place to grow up and I am so happy to call Kaneohe my home!"

  Maybe you're ready to call Kaneohe YOUR home?

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-Chelsea Pferschy RS#76072

Posted in General
Sept. 15, 2014

Summer Peaks and Autumn Dips

The median sales price for single family homes started off this year just under 630k in January. It hit a year high this summer at 700k in June. Last month it, dipped again to 650k. 

2014 Median Sales Prices on Oahu SFH

Year Low: January ($629,500)
Year High: June ($700,000)
Last Month: August ($650,000)  


What accounts for the dip? A slight drop in real estate activity after the busy summer months is to be expected. Buyers with families typically aim to get settled into a new home before the school year starts. In the last three years, median prices on single family homes took a dip in autumn before rising again in the winter. This trend can be seen in the chart below:


Median Sales Prices on Single Family Homes (Oahu)

 

Midyear Peak

 Autumn Low

Winter Peak

2014     

$700,000 (Jun.)

$650,000 (Aug.)

          ?

2013

$677,250 (Jun.) 

$647,000 (Jul.)

$685,000 (Dec.)

2012

$664,000 (May)

$609,000 (Aug.)

$640,000 (Dec.)

2011

$595,000 (May)

$557,500 (Aug.)

$605,000 (Dec.)


In two out of the last three years, the median price in the winter exceeded the previous summer high. While we can't say with certainty that the median prices this December will be higher than $700k, it's a safe bet to say that it will be higher than last August's $650k. 

In spite of the slight drop last month, median year-to-date sales (January-August) are up 4.1% from last year.   

“August was an interesting month for the Oahu housing market,” said Julie Meier, president of the Honolulu Board of REALTORS®. “This remains a very healthy market, as evidenced by the fact that the average single-family home was on the block for only 15 days before being sold. Also noteworthy is the fact that inventory of both single-family homes and condos is climbing, which will help the market meet demand.”

Although Oahu home prices are still on the rise, the savvy buyer may find an advantage during the autumn dip. 

Posted in General
July 23, 2014

JUST LISTED: 5366 Manauwea St. MLS: 201413580

We are excited to list this beautifully remodeled, ocean-view home in Aina Haina, East Honolulu. Aina Haina is one of the most coveted areas on the island for its proximity to both downtown Honolulu and South Shore beach living. This 4 bedroom, 3 bath corner lot offers 2,414 sf living space and was completely renovated this year. Some newly renovated houses can feel too fancy to be lived in comfortably, but that's not the case with this gorgeous Aina Haina property. The sophistication of this house is impossible to miss, while the choices in aesthetics make it warm enough to feel like home.

The wood tones of the cabinets compliment the flooring help to create an open and inviting kitchen. Other new features include granite countertops and brand new stainless steel appliances.manauwea3_640.

 Spectacular ocean view from main living space!

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New roof, new windows and doors, and new landscaping all around this corner lot. 

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Grassy, flat backyard is great for kids and pets. 

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See 44 more pics: http://www.alohatony.com/manauwea/

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Posted in General
July 4, 2014

Sold for $799,000 in Coconut Grove, Kailua.

A newer home in Coconut Grove is a rare find. Remodeled in 2007, this 2100+ sf Kailua property is just a short bike ride to the beach (a huge selling point for the buyer). Duplexes can share a lot of wall space with the neighboring unit, but this home is only minimally attached at a storage shed between garages. 

This was a great deal for our clients considering the amount of interior living space in Kailua's Coconut Grove. The property also has a covered two-car garage and a lush, spacious backyard with tropical foliage. We're happy to have helped our clients find and purchase their new Kailua home.

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A variety of tropical palms on both sides of the property greet you upon arrival. The common wall is on the storage shed to the right of the garage (no shared walls in living space).  

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Beautifully maintained backyard, a perfect setting for a Sunday morning brunch or entertaining dinner guests.  

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The unit's interior space is displayed in this shot of the comfy family room.

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Newer homes are a rare find in Kailua's Coconut Grove! The paint job and flooring give this bedroom a warm, clean feel. 

Posted in General