Honolulu Condos

Home Affordabiltiy Cycles in Oahu, Hawaii

Home Affordabiltiy Cycles in Oahu, Hawaii

hawaiian flowerRecent low mortgage rates and lower median home prices have made homes in Oahu more affordable than they've been in 5 years since sales peaked in 2004.  The home affordability is the percentage of median family income required to purchase a median-priced home.  Let's take a look at the Oahu Home Affordability.

The best years of home affordability were in 1977, 1998 through 2003, when the affordability rate was between 28% and 30%.  2009 was considered a good year based on affordability that is 37.17%, the best affordability since 2005.  This year, some economists predict the affordability level may increase mainly due to increasing mortgage rates.  The interest rate has gone up a little already, and if it rises to 6%, the affordability level could increase to 41%. 

If you are looking for a property and if you plan to finance, take advantage of this market while the mortgage rate is still low.  If you are a first home buyer, you should consider taking advantage of the federal tax credit for the first home buyers.

Please feel free to contact me for more information on Oahu real estate market!

Please see current Honolulu Condo Listings on our website, www.HNLCondos.com, as well as detailed information and floor plans on Featured Honolulu Condos.

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • March 01 2010 02:50PM

Honolulu Condos and Homes - Listing Alerts 2/24/10

Honolulu Condos and Homes - Listing Alerts 2/24/10

Aloha!

Please view the links below for this week's Listing Alerts.

Don't miss the HOT LINKS at the bottom of this newsletter for such distressed property listings as:  Lender Owned Condo Listings

  • Lender Owned Single Family Home Listings*
  • Lender Owned Condo Listings
  • Foreclosure Condo Listings
  • Short Sale Condo Listings 

*NEWLY ADDED

Also, please feel free to visit our website, one of the most complete Honolulu Condominium Directories available online at www.HNLCondos.com.

NEW CONDO LISTINGS

These condo listings are new listings that have come on the market for sale, since last week's newsletter.hawaiian shirt

MLS Search page on our Website or set up your own Listing Manager Account.

ALA MOANA NEW CONDO LISTINGS

DIAMOND HEAD NEW CONDO LISTINGS - No New Listings This Week

DOWNTOWN/CHINATOWN NEW CONDO LISTINGS

KAKAAKO NEW CONDO LISTINGS

KAPIOLANI NEW CONDO LISTINGS

MAKIKI NEW CONDO LISTINGS

WAIKIKI NEW CONDO LISTINGS

To view all Honolulu condo listings please visit the MLS Search page on our Website or set up your own Listing Manager Account.

DISTRESSED CONDO AND HOME LISTINGS - HOT LINKS

Distressed Bargain Properties for February 24th, 2010
Hawaiian flower

These distressed Condo and Single Family Home listings include REO, or lender owned properties, foreclosures and short sales. All the distressed Condo listings are for Metro Honolulu only, while the Lender Owned Single Family Home Listings are for Metro Honolulu as well as the entire island of Oahu. New Listings are new this week, since last week's newsletter.

Please click here to read a complete definition or description of Lender Owned, Foreclosure and Short Sale Properties .

Properties .

LENDER OWNED CONDO LISTINGS - ALL

LE NDER OWNED CONDO LISTINGS - NEW

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (METRO HONOLULU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (METRO HONOLULU)- No New Listings This Week

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (ENTIRE ISLAND OF OAHU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (ENTIRE ISLAND OF OAHU

FORECLOSURE CONDO LISTINGS - ALL

FORECLOSURE CONDO LISTINGS - NEW - No New Listings This Week

SHORT SALE CONDO LISTINGS - ALL

SHORT SALE CONDOS $0 - 200,000

SHORT SALE CONDOS $200,000 - 400,000

SHORT SALE CONDOS $400,000 AND OVER

SHORT SALE CONDO LISTINGS - NEW

 

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • February 24 2010 02:52PM

Honolulu Condos - Real Estate News & Trends 2/17/10

Honolulu Condos - Real Estate News & Trends 2/17/10

Aloha!

Welcome to this month's issue of "Honolulu Condos - Real Estate News & Trends", provided by Douglas / Christopher Realtor Associates with RE/MAX Honolulu. This newsletter is published monthly and contains time sensitive information about the Honolulu Real Estate Market. It also combines the weekly newsletter, "Honolulu Condos - Listing Alerts" which includes current new condo listings and distressed property listings.

Don't miss the HOT LINKS at the bottom of this newsletter for such distressed property listings as:

  • Lender Owned Property Listings
  • Lender Owned Single Family Home Listings*
  • Foreclosure Property Listings
  • Short Sale Property Listings

 *NEWLY ADDED

Also, please feel free to visit our website, one of the most complete Honolulu Condominium Directories available online at www.HNLCondos.com.

Honolulu Market Update for 2/17/10

orchid

Hawaiian orchid flowerLast month, we looked back. This month, let's take a look forward..........

OUTLOOK 2010: Oahu, Hawaii Real Estate Hawaii real estate experts expect stable prices, higher sales:

After riding high during the boom, Hawaiis residential real estate market slowed to a trickle at the start of 2009, while activity on the commercial side just about ground to a halt.

By the end of the year, residential sales were enjoying a resurgence, spurred in part by low interest rates and an $8,000 federal tax credit for first-time homebuyers.

And commercial brokers started seeing business pick up as those businesses that could get financing ventured back into the market to find good deals.

Experts expect those trends to continue into 2010, with stability in prices and increased sales activity.

Click Here to read the rest of the story..........

New Condo Listings

Hawaiian shirt

These condo listings are new listings that have come on the market for sale, since  last week's newsletter.

ALA MOANA NEW CONDO LISTINGS

DIAMOND HEAD NEW CONDO LISTINGS

DOWNTOWN/CHINATOWN NEW CONDO LISTINGS

KAKAAKO NEW CONDO LISTINGS

KAPIOLANI NEW CONDO LISTINGS

MAKIKI NEW CONDO LISTINGS

WAIKIKI NEW CONDO LISTINGS

To view all Honolulu condo listings please visit the MLS Search page on our Website or set up your own Listing Manager Account.

Distressed Condo Listings - Hot Links!!!

Hawaiian flower

These distressed Honolulu condo listings include REO, or lender owned properties, foreclosures and short sales. New Listings are new this week, since our last week's newsletter.

Please click here to read a complete definition or description of Lender Owned, Foreclosure and Short Sale Properties.

LENDER OWNED CONDO LISTINGS - ALL

LENDER OWNED CONDO LISTINGS - NEW - No New Listings This Week

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (METRO HONOLULU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (METRO HONOLULU) - No New Listings This Month

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (ENTIRE ISLAND OF OAHU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (ENTIRE ISLAND OF OAHU)

FORECLOSURE CONDO LISTINGS - ALL

FORECLOSURE CONDO LISTINGS - NEW - No New Listings This Week

SHORT SALE PROPERTY LISTINGS - ALL

SHORT SALES $0 - 200,000

SHORT SALES $200,000 - 400,000

SHORT SALES $400,000 AND OVER

SHORT SALE PROPERTY LISTINGS - NEW

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be our pleasure to help.

Team Douglas/Christopher

For a webpage view of this newsletter, Click here

 Access the Newsletter Archive for back issues.

 

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

1 commentDouglas Fischer • February 17 2010 02:50PM

Oahu, Hawaii Real Estate Outlook 2010

Oahu, Hawaii Real Estate Outlook 2010:

Hawaii real estate experts expect stable prices, higher sales

hawaiian flowerAfter riding high during the boom, Hawaii's residential real estate market slowed to a trickle at the start of 2009, while activity on the commercial side just about ground to a halt.

By the end of the year, residential sales were enjoying a resurgence, spurred in part by low interest rates and an $8,000 federal tax credit for first-time homebuyers.

And commercial brokers started seeing business pick up as those businesses that could get financing ventured back into the market to find good deals.

Experts expect those trends to continue into 2010, with stability in prices and increased sales activity.

Lawmakers voted in early November to extend the credit to April 30, which could keep sales going through next spring. Interest rates also have continued to stay at record lows, making purchases more affordable.

In contrast to the Mainland, property values in Hawaii have fallen but not steeply. The recent Oahu tax assessments reported that residential property values fell about 8 percent, hotel/resort properties were down 13 percent, commercial was off about 2 percent and industrial fell just under 4 percent in the past year.

That relatively gentle decline has put some property closer to being affordable, especially on the Neighbor Islands.

Still, the shadow of unemployment hangs over many families, so it's not at all certain that lower prices will generate stronger sales. Once the homebuyer credit expires, "it is still too early to tell if these [positive] trends will be self-sustaining," University of Hawaii economists wrote in their recent 2010 forecast.

First Hawaiian Bank consulting economist Leroy Laney said in his recent forecast for Oahu real estate that prices will drop in the low- to middle single digits in 2010, stabilizing in 2011.

"The total decline this time won't be as great as the average nationally, and it will likely be less than that of the mid-1990s here if inventory levels and days on market remain more favorable than they were then," Laney said in the forecast. "At least affordability will be improving in this high-cost market, even if mortgage rates rise some."

Lenders have returned to the old days of underwriting, requiring higher credit scores and full documentation of income and assets, which thinned out the pool of potential buyers but is not presenting troubles to qualified buyers.

The market may also see more foreclosed properties in 2010 as lenders put bank-owned properties up for sale at competitive prices, which could bring down prices in certain neighborhoods. Foreclosed vacation condominiums bought at the height of the boom in 2006 and 2007 are also likely to flood the market, depressing prices for people trying to sell units in older buildings.

An interest rate reset next year for the adjustable rate mortgages known as Option ARMs for their optional payment plans could also throw more homeowners into foreclosure.

hawaiian slippers2010 positives:

• Lower prices will translate into higher sales.

• Potential for bargains for commercial buyers and tenants.

• Historically low interest rates.

• First-time homebuyer credit extended to April.

• Consumer and business confidence improving.

2010 negatives:

• More foreclosures and short sales will drive down prices in some neighborhoods, leaving the remaining homeowners "under water."

• Continued unemployment, public employee job cuts.

• Tight credit for all but the best risks.

 

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • February 16 2010 02:20PM

Let's Talk About Short Sales

Let's Talk About Short Sales

hwaiian orchidShort sales. They're becoming more and more plentiful in Honolulu County and a recent article in NuWire Investor reported that they are projected to increase during 2010. In 2009 we were able to complete many short sale transactions but that's not common in the industry. In reality, a lot of buyers have trouble getting short sales approved. Why? There are several reasons but some of the big ones are that short sales typically mean that the banks take a loss on the property and also short sales cost the banks major time. According to the website Housing Predictor, only 1% of all the homes that face foreclosure will be approved by banks as a short sale. Of that small percentage, only 8-12% of those homes actually make it through the process and get sold as a short sale. So what does this mean for our housing market?

In 2010 the number of short sales is expected to increase. However, if homes are sold at a loss, does that mean home values will stay steady or even sink?  Starting in April, the US Treasury Program is enacting a program that will prompt banks to move homes through the short sale process faster, so many of the big banks are increasing their staffs as a result. The hope is that the banks will do more short sales than foreclosures. Even though the homes may sell for less money they will help the housing market gain momentum, which is projected to offset the lower sales price.

Although short sales are known as being time consuming, and are sure to remain time consuming even once this program goes into effect, we've been successful at handling these transactions by putting in the time. No matter how long the banks put us on hold, we've hung on waiting.  The bottom line - short sales are a reality of 2010 but they are not expected to affect the housing market - and we're standing by to make sure deals get made.

See Current Listings of Honolulu and Oahu Short Sales, Foreclosures and Bank Owned Properties here.

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • February 12 2010 01:33PM

Honolulu Condos and Homes - Listing Alerts 2/10/10

Listing Alerts - Honolulu Condos and Single Family Homes

Aloha!

Please view the links below for this week's Listing Alerts.

Don't miss the HOT LINKS at the bottom of this newsletter for such distressed property listings as:  Lender Owned Condo Listings

  • Lender Owned Single Family Home Listings*
  • Lender Owned Condo Listings
  • Foreclosure Condo Listings
  • Short Sale Condo Listings 

*NEWLY ADDED

Also, please feel free to visit our website, one of the most complete Honolulu Condominium Directories available online at www.HNLCondos.com.

NEW CONDO LISTINGS

These condo listings are new listings that have come on the market for sale, since last week's newsletter.hawaiian shirt

MLS Search page on our Website or set up your own Listing Manager Account.

DIAMOND HEAD NEW CONDO LISTINGS

DOWNTOWN/CHINATO WN NEW CONDO LISTINGS

KAKAAKO NEW CONDO LISTINGS

KAPIOLANI NEW CONDO LISTINGS

MAKIKI NEW CONDO LISTINGS

WAIKIKI NEW CONDO LISTINGS

To view all Honolulu condo listings please visit the MLS Search page on our Website or set up your own Listing Manager Account.

DISTRESSED CONDO AND HOME LISTINGS - HOT LINKS

Distressed Bargain Properties for February 10th, 2010
Hawaiian flower

These distressed Condo and Single Family Home listings include REO, or lender owned properties, foreclosures and short sales. All the distressed Condo listings are for Metro Honolulu only, while the Lender Owned Single Family Home Listings are for Metro Honolulu as well as the entire island of Oahu. New Listings are new this week, since last week's newsletter.

Please click here to read a complete definition or description of Lender Owned, Foreclosure and Short Sale Properties .

LENDER OWNED CONDO LISTINGS - ALL

LE NDER OWNED CONDO LISTINGS - NEW

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (METRO HONOLULU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (METRO HONOLULU)- No New Listings This Week

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (ENTIRE ISLAND OF OAHU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (ENTIRE ISLAND OF OAHU

FORECLOSURE CONDO LISTINGS - ALL

F ORECLOSURE CONDO LISTINGS - NEW

SHORT SALE CONDO LISTINGS - ALL

SHORT SALE CONDOS $0 - 200,000

SHORT SALE CONDOS $200,000 - 400,000

SHORT SALE CONDOS $400,000 AND OVER

SHORT SALE CONDO LISTINGS - NEW

 

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • February 10 2010 01:37PM

The Oahu, Hawaii Real Estate Market - Looking Back

The Oahu, Hawaii Real Estate Market - Looking Back

hawaiian flowerIt's been a long bumpy road for most of us, especially the real estate market.  However, it's not all bad news for the Oahu, Hawaii housing market.  Let's take a look how the market did over the past 20 years.

The median price of a single-family home on Oahu has increased from $290,000 in 1999 to $575,000 today.  That is about 98% appreciation.  Just to give you something to compare with, the Dow Jones Industrial Average performed around 11,000 in 1999, and it is about the same at of the end of 2009.

As you can see from the figures above, the overall, long term cycle always appears to improve and increase.  It you are thinking about purchasing properties, this is a great time. 

diamond head, honoluluQuick Market Stats:

Number of Sales

Condominium:   349 (14.2% DOWN from last month)
Single Family:   265 (6.4% UP from last month)

Median Sales Price

Condominium:   $300,000 (6.2% DOWN from last month)
Single Family:   $550,000 (6.7% DOWN from last month)

Days on market

Condominium:   36 days (4 days MORE than last month)
Single Family:   34 days (8 days LESS than last month)

Inventory

Condominium:   1,588 (9.2% DECREASE from last month)
Single Family:   1,100 (8.2% DECREASE from last month)

It's always interesting......when trying to look forward, it is helpful to take a look back.

 

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • February 05 2010 01:36PM

Honolulu Condos and Homes - Listing Alerts 2/3/10

Listing Alerts - Honolulu Condos and Single Family Homes

Aloha!

Please view the links below for this week's Listing Alerts.

Don't miss the HOT LINKS at the bottom of this newsletter for such distressed property listings as:  Lender Owned Condo Listings

  • Lender Owned Single Family Home Listings*
  • Lender Owned Condo Listings
  • Foreclosure Condo Listings
  • Short Sale Condo Listings 

*NEW LAST WEEK

Also, please feel free to visit our website, one of the most complete Honolulu Condominium Directories available online at www.HNLCondos.com.

NEW CONDO LISTINGS

These condo listings are new listings that have come on the market for sale, since last week's newsletter.hawaiian shirt

MLS Search page on our Website or set up your own Listing Manager Account.

ALA MOANA NEW CONDO LISTINGS

DIAMOND HEAD NEW CONDO LISTINGS

DOWNTOWN/CHINATO WN NEW CONDO LISTINGS

KAKAAKO NEW CONDO LISTINGS

KA PIOLANI NEW CONDO LISTINGS

MAKIKI NEW CONDO LISTINGS

WAIKIKI NEW CONDO LISTINGS

To view all Honolulu condo listings please visit the MLS Search page on our Website or set up your own Listing Manager Account.

DISTRESSED CONDO AND HOME LISTINGS - HOT LINKS

Distressed Bargain Properties for February 3rd, 2010
Hawaiian flower

These distressed Condo and Single Family Home listings include REO, or lender owned properties, foreclosures and short sales. All the distressed Condo listings are for Metro Honolulu only, while the Lender Owned Single Family Home Listings are for Metro Honolulu as well as the entire island of Oahu. New Listings are new this week, since last week's newsletter.

Please click here to read a complete definition or description of Lender Owned, Foreclosure and Short Sale Properties .

LENDER OWNED CONDO LISTINGS - ALL

LENDER OWNED CONDO LISTINGS - NEW - No New Listings This Week

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (METRO HONOLULU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (METRO HONOLULU)- No New Listings This Week

LENDER OWNED SINGLE FAMILY HOME LISTINGS - ALL (ENTIRE ISLAND OF OAHU)

LENDER OWNED SINGLE FAMILY HOME LISTINGS - NEW (ENTIRE ISLAND OF OAHU)- No New Listings This Week

FORECLOSURE CONDO LISTINGS - ALL

FORECLOSURE CONDO LISTINGS - NEW - No New Listings This Week

SHORT SALE CONDO LISTINGS - ALL

SHORT SALE CONDOS $0 - 200,000

SHORT SALE CONDOS $200,000 - 400,000

SHORT SALE CONDOS $400,000 AND OVER

SHORT SALE CONDO LISTINGS - NEW

 

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • February 03 2010 03:46PM

2010 Oahu home sales off to fast start

2010 Oahu home sales off to fast start

hawaiian shirtHome sales on Oahu soared in January when compared to the dismal start of 2009.

There were 162 single-family homes sold in January, a 33 percent increase over the 122 homes sold in January 2009, according to statistics from the Honolulu Board of Realtors.

The 227 condominium sales last month represented a 43 percent boost over the 159 units that sold during January 2009.

January 2009 had the lowest number of sales for the whole year and appears to have been the trough of the current cycle; sales have risen every month since.

Meanwhile, the median price of a single-family home rose 11 percent to $597,000, compared to $539,500 in January 2009, while the median price of a condo dipped 2 percent to $299,000, from $305,000 in January 2009.

hawaiian slippers"January's sales numbers for both single-family homes and condominiums are very encouraging for the Oahu real estate market," said board President Brian Benton. "Competitive pricing, current inventory levels, and the extension of the federal tax credit seem to be turning house hunters into first-time home buyers."

 

 

View Honolulu Condos Foreclosures and Bank Owned Properties

View Honolulu Condos "Early Bird" New Lisitng Alerts

View Honolulu Condos Videos

View Honolulu Current Listings

 

 

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

1 commentDouglas Fischer • February 02 2010 07:17PM

Foreclosures in Honolulu, Oahu Bring Opportunities for Real Estate Buyers

Foreclosures in Honolulu, Oahu Bring Opportunities for Real Estate Buyers

orchidAccording to Lucy Clark, who recently wrote in the "Hawaii Reporter":

President Obama asked the banks to put a stay on foreclosures during the holiday season. The holidays are over and the expectations are that the market place will be flooded with foreclosure sales for the next two years, our island home included.

Buyers, this is a great time to buy. Interest rates are very, very low. The $8,000 tax credit for first time homebuyers and the $6,500 tax credit for existing home owners has been extended until May 2010.

Foreclosures most likely represent the best buy for your money. The banks don't want the property, they want money - so they are typically willing to sell for much less than the market value of non-foreclosed competitive listings.

hawaiian leiYes, there will almost certainly be repairs - but who doesn't buy a resale house without the expectation of repairs, renovations and upgrades? If your offer is structured properly, you can likely get the bank to pay for your closing costs - the money saved can go directly into upgrading your purchase.

With the government offering loans that require 0 - 3.5% down payment (vs conventional financing that requires 20% downpayment) more cash stays in your pocket.

With a growing foreclosure market, it makes sense to jump in and acquire your own piece of Paradise.

Mahalo For Reading.

If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help. 

Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu

www.HNLCondos.com

808-497-3810

Douglas@HNLCondos.com

Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.

We love Agent Referrals.

 

0 commentsDouglas Fischer • January 29 2010 04:52PM