All Categories

In May 2010, Oahu's median single family home prices increased to $606,000, up 11.8% from $542,000 in May 2009. Median condo and townhome prices increased 4.2%, to $312,500 versus $300,000 one year earlier. Oahu Home Sales Volume and Prices Rise Oahu had 284 single family home sales in May 2010, UP 31.5% from 216 homes sold in May 2009 . Condo and townhome sales on Oahu rose to 355 sales in May 2010 versus 262 a year earlier - a 35.5% increase. Here's how Oahu's home sales and median prices i... Read Full Post

Mortgage rates have dipped again and they are now matching the lows of the last 12 months. Buyers wishing they had bought when rates were lower have a second chance. Thinking about buying a home in Hawaii? Let's get started, feel free to contact me. Sellers - lower interest rates will spark interest. Inventory of Oahu properties remains low, particularly in Honolulu. Neighborhoods such as Kaimuki, Manoa and Palolo are bustling with activity. Contact Mike Bates for more information by phone (8... Read Full Post

Is your Hawaiian Electric Bill too high? I got a call from a customer last night and he was asking me what he should do about his electric bill. He had just moved into a two-bedroom townhome in Pearl City, Hawaii in June. The first electric bill was not bad because they didn't have many appliances connected during the first couple of weeks (about $80 for half a month). The second bill climbed to $200 and the third was $300! He asked me about my monthly bill. We moved into my house in Palolo (... Read Full Post

Sales on the rise in many Oahu neighborhoods The Real Estate market continues to sizzle. During the month of April, home sales were up 53% and condo sales were up by 48% Will it continue? That may depend on the neighborhood. I look for neighborhoods where the number of sales is increasing and the number of homes for sale is decreasing. In other words, there aren’t enough homes for sale to satisfy the buyer’s appetite in that neighborhood. When this exists, there are multiple offers on the... Read Full Post

The last few months have been rather busy - which is great! The first quarter of last year was so slow as we watched the U.S. economy meltdown. Some interesting things have happened in Palolo Valley (where I live) and today we can catch up on events in Palolo! Larry and Razor in the newspaper Going all the way back to September 2009, a neighborhood friend Larry was featured on the cover of the Honolulu Advertiser's TGIF section. There was a picture of his dog Razor with Larry in the backgroun... Read Full Post

Home Sales have been increasing at a fierce pace. According to the Honolulu Board of Realtors Statistical Report, Home sales were up 40% in the last six months as compared to the prior year and Condominium sales enjoyed a 27% increase. Does that mean we have turned the corner and on are on our way to the next housing boom? Critics will say this is a temporary phenomenon brought on by the stimulus plan, the tax credit and low interest rates and the depressed economy will eventually bring us ba... Read Full Post

Yesterday an earthquake in Chile 8.8 richter caused major damage and deaths. The earthquake triggered waves which are heading towards Hawaii. The predicted time of arrival on Oahu's shores is 11:35 a.m. The waves are expected to wrap all the way around the islands, so even though they are coming from the east, all shores could be affected. The waves are nearly undetectable until they hit land. The swell moves at about the same speed as a jet airliner. The State of Hawaii takes this very serio... Read Full Post

Buying a Home on Oahu NOTE: We have rescheduled this seminar to March 16th to accommodate certain buyers, while keeping the homebuyers credit deadline in mind. Is this a good time to buy a home? For many of us it's the best opportunity in years. Why? - Interest rates remain low - below 5% on 30 year fixed rate mortgages. - Oahu's home prices have declined from their highs in 2007 (three years ago). - Foreclosures/REO's are becoming more common in Oahu's real estate market. - The homebuyers ta... Read Full Post

In December 2009, Oahu's median single family home prices declined to $550,000, down 12.2% from $626,500 in December 2008. Median condo and townhome prices decreased 1.6%, to $300,000 versus $305,000 one year earlier. Oahu Home Sales Volume Continues to Rise Oahu had 265 single family home sales in December 2009, UP 36.6% from 194 homes sold in December 2008 . Condo and townhome sales on Oahu rose to 407 sales in December 2009 versus 243 a year earlier - a 43.6% increase. Here's how Oahu's ho... Read Full Post

Was 2009 a rough year for you? It sure was for me! One transaction closed from January to July. And it was a small one. After that, things picked up. Six more transactions, the final one closed today, December 31st. After a tough first half of the year it was a relief to see business pickup. Let's hope for a great 2010! Aloha, Mike Bates Hawaii Realtor Read Full Post