Click on the link below to open for HBR January 2012 Honolulu Real Estate Statistical Report.
HBR Satistics January 2012.pdf
FEBRUARY 2012 MARKET UPDATE
HONOLULU BOARD OF REALTORS MLS LISTED MULTIPLE UNIT BUILDINGS SOLD SINCE 7/3/11
ADDRESS
UNITS
PKNG
BLDG
SQ. FT.
LAND
SQ.FT.
CONSTRUCTION
NOI
SALES
PRICE
SALES DATE
1711 Citron St
4
2,828
3,800
Concrete ,HollowTile
$49,534
$1,052,500
9/22/2011
1875 Kapiolani
8
2,640
4,800
Masonry/Stucco
$36,281
$1,100,000
11/4/2011
1558 Kalakaua
5
2,288
7,360
HollowTile, SingleWall
$44,574
$1,230,000
10/7/2011
1764 Malanai
7
3,684
Concrete ,Masonry/Stucco
$60,600
$1,253,000
8/15/2011
1302 Kinau St
1
1,572
4,500
DoubleWall ,Wood Frame
NA
$742,550
12/14/2011
1511 Thurston
6
3,243
5,309
HollowTile ,SingleWall
$875,000
12/5/2011
1206 Matlock
2,895
9,660
HollowTile ,Wood Frame
$1,000,000
10/5/2011
1085 Karratti
3,520
7,033
$49,100
$995,000
9/8/2011
1469 Makiki
3,182
6,000
$1,250,000
7/7/2011
1348 Kinau St
3,634
5,850
HollowTile
$74,456
$1,400,000
10/14/2011
1551 Thurston
18
8,242
8,700
HollowTile , Wood Frame
$74,055
$1,788,000
8/18/2011
1707 Poki St
23
13,897
16,123
Concrete
$4,300,000
9/23/2011
2419 Cleghorn
14
5,870
8,177
$77,999
$2,000,000
7/1/2011
444 Ena Rd
13
9
5,780
5,881
$130,890
$2,250,000
12/29/2011
2420 Kuhio A
16
11,520
6,064
HollowTile ,Slab
$104,482
$2,600,000
311 Saratoga
21
7,980
5,816
DoubleWall ,HollowTile
$3,900,000
9/26/2011
2202 Waiola
2
2,435
4,029
$21,107
$635,000
2104 Algaroba
5,789
7,114
$39,411
11/30/2011
731 Hausten
10
4,628
6,932
$2,100,000
12/20/2011
611 University
11
5,904
10,555
$197,160
$2,850,000
9/14/2011
1725 Young
3
1,280
2,891
$28,590
$600,000
8/25/2011
2956 Varsity
3,879
5,795
$36,477
7/15/2011
1574 Piikoi St
3,136
5,153
Wood frame
$1,150,000
1/31/2012
1634 kewalo St
15,532
15,899
$4,100,000
All information provided was gathered from sources deemed reliable but is not guaranteed and is subject to change without notice.
Prepared on February 4, 2012
Step - 1 Make the Decision to Buy
Step 2 - Seek Professional Guidance
At this time, I will also help you get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal.
Step 3 - Begin the Hunt
As we tour houses, I'll point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour houses, some things will become more important and others less important. With this new information, I'll refine our search criteria to narrow in on the house of your dreams.
Step 4 - Know the Market
As we tour houses, I'll let you know when the asking price has negotiating room and when the house is "priced to sell". My unique market knowledge will keep you a step ahead of the "house hunting competition".
In a "seller's market". It is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.
Step 5 - Find Your Dream House
The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).
Step 6 - Negotiate the Deal
Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.
Step 7 - Get a Loan
Step 8 - Close the Deal
Step 9 - Move In
The link below will open the December 2007 Residential Resale Monthly Statistical Report for Oahu. (provided by the Honolulu Board of Realtors)
Saturday, January 05, 2008MSR Dec 2007.pdf You need Adobe Reader to open the this file. If you do not have Adobe Reader you can download it by clicking on the Adobe icon on the lower left of the home page.
If you would like to know what your property may sell for now please contact me for a free market anaylysis.
The median sales price for a condominium set a new record for Oahu in the third quarter, at $330,000, while median prices for single family homes dropped since the second quarter to $649,000. Compared to the same time last year, however, prices have had single-digit percentage increases of 2.3% and 4.8% for single family homes and condominiums. At the same time last year, prices stood at $635,000 and $315,000, respectively.
For the single family home market segment, the strongest gain by far was in the Diamond Head area, up 27.2%. This increase was followed by Central Oahu, up 11.8%, Leeward Coast, up 7.3%, Pearl City, up 5.3%, and Waipahu, up 3.1%. In the condominium category, the areas with the largest expansions were Pearl City, up 8.6%, Kaneohe, up 8.1%, Metro Oahu, up 6.5%, and Makakilo, up 6.1%.
The information above provided by the Honolulu Board of Realtors.
Despite all of the negative news related to real estate values being broadcast by the national news networks, Ohau prices have not only remained stable, but have in fact, increase overall since last year.
Many prospective buyers have been waiting for the prices to come down. But so far sales prices have not dropped to any significant degree in most Oahu neighborhoods. Give the more stringent criteria required by mortgage lenders now, the longer time on market and the drop in the number of sales, this firmness in pricing is surprising to some.
In order for sellers to attract offers, properties must be priced competitively or the buyers will ignore them. In this market, most serious buyers will not even go to look at overpriced properties. However, if a property is priced right, prepared so that it shows well and it is presented properly, there are still sales to be had at good prices. There are still plenty of buyers out there.
How much longer this sideways to slightly upward tend in pricing will continue is anyone's guess.
The word I am getting from a number of foreign buyers is that they are becoming more attracted to U.S. properties, especially Hawaii, because of the falling value of the U.S. Dollar. In fact, some very astute foreign buyers are now positioning themselves to take advantage of the Japanese Yen and the Euro's growing strength against the dollar by targeting in on some high end Honolulu properties.
Some foreign buyers are anticipating scooping up bargains as prices in the U.S. as real estate market softens because of the sub-prime situation as well as taking advantage of the attractive currency exchange rates as the dollar weakens against their currencies. This activity may help stabilize depreciation in real estate values in some areas and may help raise prices in other more desirable markets.
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