Hawaii real estate news

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

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

During November 2009, Oahu's median home prices declined slightly to $590,000, down .7% from $594,500 in November 2008. Median condo and townhome prices INCREASED 1.2%, to $320,000 versus $316,200 in November 2008. Oahu Home Sales Volume Oahu had 249 single family home sales in November 2009, UP 46.5% from November 2008's 170 homes sold. The increase was more dramatic for Oahu's condos and townhomes. There were 407 sales in November 2009 versus 201 a year earlier - a 102.5% increase! Here's h... Read Full Post

Note the title to this blog is not "First Time Homebuyers Tax Credit." That's because the new credit allows for current homeowners to get in on this deal too. Current homeowners can get up to a $6,500 tax credit. Current homeowners must have lived in their current or former home for five out of the last eight years. The five years must have been consecutive (all in a row, not two years, move somewhere else for a year and then move back for three years). Basics and Details of the Homebuyer Tax... Read Full Post

During October 2009, Oahu's median home prices declined to $605,000, down 3.2% from October 2008's median of $632,000. Median condo and townhome prices fell 9.2%, to $295,000 versus $325,000 in October 2008. Oahu Home Sales Volume In October 2009 Oahu had 281 single family home sales, UP 15.6% from October 2008's 243 homes sold. For condos and townhomes, there were 381 sales in October 2009 versus 316 a year earlier. That's a healthy 20.5% increase in condos and townhomes sold. Here's how Oah... Read Full Post

Oahu's median home prices declined to $566,000, down 10.9% from August 2008's median of $635,000. Median condo and townhome prices fell too. The August 2009 median sale price was $290,000 versus $328,000 in August 2008, an 11.6% decline . Home Sales Volume on Oahu August 2009 had 247 single family home sales, down 3.1% from August 2008's 255 homes sold. For condos and townhomes, there were 351 sales in August 2009 versus 345 in August 2008. That's a 1.7% increase in properties sold. Here's ho... Read Full Post

We've been wondering what will happen to that partially finished condo in Honolulu. On July 3rd the developer made its announcement. KC Rainbow Development plans to sell the tower to an affiliate of San Diego-based OliverMcMillan, a California Development company. If everything goes well, construction on the 46-story building should resume by the end of 2009 and the project will be completed in 2011. KC Rainbow Development stopped work on the building at the end of 2008 as problems with obtai... Read Full Post