Hawaii real estate news

For regular visitors of Realestatewebmasters blogs the title of this post may seem familiar. That's because Hawaii had a tsunami warning in February 2010, just over a year ago. We hope tsunami warnings will not become an annual event here. Last night I received a text around 9 p.m. from a relative, asking if a Tsunami warning had been issued. We turned the TV on and saw the devastation in Japan from the 8.9 magnitude earthquake. The videos were amazing. The looked like something out of a disa... Read Full Post

Hawaii remains a popular place, not just to visit but for residency too. The 2010 census reported 1,360,301 people living in Hawaii. Okay, not quite 1.4 million, however if we consider the amount of visitors here on any given day, military etc. there are more than 1.4 million people in the islands. In the last decade Hawaii's population increased by 8.8 percent. The county with the largest increase was the Big Island, with 24.5 percent more people, bringing its population to 185,079. Maui Cou... Read Full Post

VA loan limits for Hawaii are increased to $741,250 for 2011. This is for 100% financing with no cash down on a home purchase. The VA funding fee can be financed as part of the $741,250. No Private Mortgage Insurance (PMI) required, the VA guarantees 25% of the home's appraised value, thus eliminating PMI. In some instances disabled veterans are exempt from the VA funding fee. If a service member is overseas, his/her spouse can satisfy the occupancy requirements. VA loans can sometimes be str... Read Full Post

The City and County of Honolulu has been sending out the new tax assessments for about a week now. Oahu property owners, did you get your assessment yet? If you haven't, a quick way to check is to visit the Honolulu Property Tax site here. Next, click the "Property Search" tab and then input your street address and street name. A list will appear - if you own a single family detached home, your property may be the only one that appears on the list. If you own an attached home, townhome or con... Read Full Post

This time of year, real estate activity tends to slow down a bit. People get busy with Thanksgiving, then Christmas shopping, vacations and New Year's. Surprisingly, agents are reporting increased activity from buyers. Some agents are getting several calls a day on their luxury property listings, when a few weeks ago they were getting a few calls per week! What's happening? The news still has plenty of doom and gloom on a daily basis. Several factors might separate Hawaii from other markets. ... Read Full Post

Palolo Valley is seeing increased activity as it is the most affordable neighborhood from Diamond Head to Kalama Valley. Homes in the $400,000 - $600,000 price range tend to move quickly if they are in move-in condition. Here's a Comparative Market Analysis report for Palolo Valley, reflecting properties currently in escrow and sales since July 1, 2010. That's six properties currently in escrow and ten closings in the last three months and two weeks. Pretty good activity! Current escrows are ... Read Full Post

Who would want a great deal on a foreclosure in Hawaii? There are deals to be found out there. Coldwell Banker Pacific Properties has a department that works solely on REO 's and bank sales in Hawaii. We've put together a webpage with all of the Coldwell Banker foreclosure listings for easy viewing. The webpage is refreshed daily. Check periodically and get info about the newest listings. Foreclosures take awhile to prepare for sale. Here are some upcoming deals - they're not listed yet, stay... Read Full Post

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