Koolani Honolulu Luxury Condominium
PortLock Hawaii Kai
Ocean Front Property
Listed Price $15,000,000
Moana Pacific Brand New Luxury Condominium
Elegant new Kahala home
Listed Price $3,595,000
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Oahu Creative investment trends for 2007 By Lisa Scontras Custom Publishing Group, 12/31/2006 Honolulu Advertiser
Investors are not the only people buying rental properties anymore. Close to historically low interest rates, creative financing options and sheer desire have motivated many to figure out a way to not only buy their first home, but become landlords — sometimes all at the same time. Duplexes, or any property with two or more separate units, give regular-joe buyers a way to purchase a home while offsetting the mortgage payment with rental income. Living in one side and renting out the other has plenty of financial advantages and, according to Prudential Locations agent Helgi Thorhallsson, it is a unique buying strategy that appeals to first-time buyers, as well as investors. click here
Home buyers enticed by sweet deals By LISA SCONTRAS
Custom Publishing Group, Sunday, September 24, 2006
Timing is everything. Rather than waiting, intuitive buyers are customizing offers to take advantage of both low interest rates and the seller's competitive interest to sell.
It's part of a national trend. Why? Two reasons.
First, frustrated that it is taking longer to sell a listing, sellers are more open to negotiating — price, terms, ... pretty much everything is on the table.
And secondly, buyers know that with the possibility of interest rates rising, any savings realized by waiting for prices to dip slightly could be ultimately offset or negated altogether by the significant increase in monthly payments that comes with as little as a half-percent rate increase.
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Interest rate lock-ins offer peace of mind A new loan product — which allows borrowers to lock in their interest rate for up to 24 months — will take the pressure off home buyers who may be worried that a rising-rate environment could jeopardize their ability to qualify for a mortgage. Thirty-year fixed rate mortgage rates remain at historically low levels, making it a good time to consider locking in an interest rate — especially if rates continue to rise.
Oahu Home market stabilizes As expected, Oahu Real Estate home prices are leveling off as sales activity returns to more moderate levels. Sales statistics for the month of August are right in line with what experts predicted as the eight-year long period of expansion takes a breather.
According to data compiled by the research department at Prudential Locations LLC, prices in some of the neighborhoods on the Island went up slightly, some dropped, and some essentially stayed the same in contrast to the records set in previous periods.
Housing market to stabilize in time By LISA SCONTRAS Custom Publishing Group
As the local Real Estate market transitions from a selling frenzy to more stable territory, the landscape has changed significantly. Analysis of home sale statistics reported last week reveal some less obvious facts that may help buyers and sellers navigate the future.
One such fact is the Months of Inventory Remaining figures — which in August were at 5.1 months for single family homes and 5.4 months for condos. Months of remaining inventory is a market indicator that combines supply and demand into a single statistic by projecting how long the current listings (supply) will last at the current sales rate (demand).
While the August numbers are slightly higher than the July figures, and more than double the all-time low figures in May 2005 of 2.0 and 1.2, respectively, inventory levels are still relatively low when compared to the 15 to 20 months of inventory remaining throughout most of the 1990s.
Home market stabilizes By LISA SCONTRAS Custom Publishing Group
As expected, Oahu home prices are leveling off as sales activity returns to more moderate levels. Sales statistics for the month of August are right in line with what experts predicted as the eight-year long period of expansion takes a breather.
“But just because we aren’t continuing to see double-digit price increases, doesn’t mean bubble,” says Scott Higashi, Prudential’s executive vice president of sales. “Comparisons to the all-time-high prices set recently will likely level off or even dip slightly — they just can’t continue to appreciate indefinitely — it’s all part of the natural cycle.”
Still, there are some areas that have appreciated. In comparison with a year ago, condo prices are up in Salt Lake, Ala Moana, Makiki, Kapiolani-University, Waialae-Kahala, Hawaii Kai, Kailua, Ewa, Makakilo, Central Oahu, and Pearlridge-Aiea. Of these, the top three areas with the largest price growth were Kapiolani-University which was up 26.5 percent, Pearlridge-Aiea which was up 22.3 percent, and the Waialae-Kahala area which was up 22.1 percent in August.
In other words, the median sales price for condos in Kahala — where half the buyers paid more and half the buyers paid less — was up to $532,500 from $436,050 the same time last year, according to Prudential Location figures.
Appreciation of single-family homes on the Island are essentially flat in comparison with prices a year ago, with a couple of exceptions.
Property defects may turn buyers away By LISA SCONTRAS Custom Publishing Group
More and more sellers are one-upping their competition by hiring a professional home inspector.
A home inspection report can guide sellers to identify and remedy defects making the property more attractive to buyers.
Traditionally, professional home inspection services have been a way for home buyers to make themselves aware of maintenance and repair issues before closing on a new home. Home inspections — which always make good buyer-beware sense — are commonly conducted during the escrow period and in accordance with standard purchase contracts.
The interest among sellers has to do more with being able to show perspective buyers a clean bill of health on their property — a smart move in this recent shift to a buyer's market.
Avoid capital gains by trading properties By LISA SCONTRAS Custom Publishing Group
The downside to the unprecedented appreciation of real estate investments in Hawaii is when the IRS knocks on your door to collect a hefty chunk of your cashed-out equity in the form of capital gains tax.
No one likes writing checks to Uncle Sam, and there is a simple way to avoid it, or at least to defer it. It's called a 1031 exchange.
The 1031 exchange is named after section 1031 of the IRS tax code. According to Julie Tumbaga, vice president and regional manager of OREXCO 1031 Exchange — a leading exchange facilitator and consultant — this tax code allows a property owner to defer payment of capital gains tax arising from the sale of property, if the proceeds are reinvested in a property of like kind.
The definition of "like kind" is any property held for investment, including rental houses, raw land, business property commercial real estate, condos and apartments.
60,000 new homes planned for O'ahu By Andrew Gomes Advertiser Staff Writer, Tuesday, September 19, 2006
Developers, encouraged by strong housing prices, plan to build roughly 60,000 new homes on O'ahu over the next two decades, according to a city survey and Advertiser estimates.
The expansion — adding the equivalent of a new Mililani, Hawai'i Kai, Wahiawa, Kailua and Kane'ohe combined — comes with benefits and drawbacks. It's good for the economy, jobs and families pursuing the American Dream of homeownership. But it's often bad for open spaces, commuters frustrated by increasingly congested traffic and children attending overcrowded schools.
The projects could mean significant impacts on O'ahu residents already facing congested freeways, crowded schools and rising fees for infrastructure such as sewer lines. Whether developers will be able to follow through on their plans depends on market conditions, but the prospect of so many new homes is jarring to many.
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