Showing posts from March, 2015

Home Too Big Now?

Once the kids are grown, have careers, relationships and get a place of their own, parents find that they may not need their “big” home like they did before. Their lifestyle may have changed and the house just doesn’t “fit” anymore. Benefits of a smaller home: Easier to maintain Lower utilities Lower property taxes Lower insurance More convenient location Convenience of a single level Possibly more energy efficientPossibly lower maintenance Moving from a larger home frees equity from the previous home that can be invested for retirement income, purchase a second home, travel, education or just to have a nest egg for unexpected expenses.  The profit on the home, in most cases, will be tax-free up to the exclusion limits set by IRS. There will be expenses involved in selling a home as well as the purchase of a new home.  These will lower the amount of net proceeds available to invest in the new home. Like any other big change in life, it is recommended…

Upcoming Events for Easter Weekend

Ancient Hawaii Exhibition at the Honolulu Museum of Art School Apr 1, 2015 to Apr 30, 2015

Opening night ceremony this week on Thursday, April 2nd at the Honolulu Museum of Art School  Ancient is a collection of 15 beautiful photographic works based on some of the most popular Hawaiian Legends. These final 15 works of art are comprised of hundreds of photographic images.
Honolulu Art Museum School- Linekona Building  1111 Victoria Street Honolulu, HI
Cost: Exhibit is free, Museum Entrance Fee $10 for Adults Click for Hours of Operation
Friday April 3, 2015 7pm Saturday April 4, 2015 6pm Sunday April 5, 2015 8am and 11am

New Hope Oahu will be offering Easter Services this weekend at the Neal S. Blaisdell Arena
Neal S. Blaisdell Arena
777 Ward Avenue Honolulu, HI96814
Cost: Daily/Event Rate up to 5 p.m. = $6.00
Daily/Event Rate after 5 p.m. = $7.00
In/Out Parking Privileges (Single Day) = $8.00
VIP Parking available for select events - $20.00

Building Wealth in Honolulu Property--Rapid and High Appreciation

Home Equity in the Honolulu Real Estate Market  Than Merrill highlights in Fortune ( very reason that investors continue to seek property in Honolulu:  Rate of Appreciation.  While our home prices are outrageously high, home equity builds at an astounding rate, and investment in housing has been outpacing what is being realized in the U.S. financial markets.  Consider the following statistics, cited by Merrill, that compares Honolulu to the U.S. national average:

Homes purchased in the Honolulu housing market one year ago have appreciated, on average, by $7,931. The national average was $12,783 over the same period.Homes purchased in the Honolulu housing market three years ago have appreciated, on average, by $106,505. The national average was $55,406 over the same period.Homes purchased in the Honolulu housing market five years ago have appreciated, on average, by $119,414. The national average was $…

Home, Garden & New Products Show is coming this weekend - March 27 - 29

Come see the latest in home improvements, landscaping design and newest building products hitting the market this weekend. 

Home, Garden & New Products Show
 Friday March 27 @ 5pm - 9pm Saturday March 28 @ 10am - 9pm Sunday March 29 @ 10am - 5pm

Neal S. Blaisdell Exhibition Hall 777 Ward Avenue Honolulu, HI 96814 United States
Cost: $4 G.A / $3 Child, Seniors, Students, Military

FHA or Conventional?

Buyers with a minimum down payment are generally faced with the decision of whether to get a FHA or a conventional loan.  With the new 3% down payment program on conventional loans, it may become more confusing which loan to pursue. The two loan programs have mortgage fees that can differ greatly.  FHA has a 1.75% up-front mortgage insurance charge in addition to the monthly mortgage insurance charge which was recently lowered by .5%. FHA’s mortgage insurance is a fixed amount where conventional mortgage insurance providers’ fees are determined by individual companies and according to the credit score of the borrowers.  A borrower with a good credit score will be charged less than a borrower with a marginal credit score. Mortgage insurance on conventional loans can be cancelled when the equity in the property reaches 20%.  FHA mortgage insurance in most cases, is paid for the life of the mortgage.  Once a borrower has a 20% equity in their home, to eliminate the monthly FHA mort…
Coldwell Banker Pacific Properties Oahu Market Update: March 17, 2015 President Mike James shares the state of the housing market: 
Homes and condos selling like hotcakes, despite February price dip Homes and condos are selling as quickly as they go on the market. According to the current Days on Market (DOM) indicator and stats released by the Honolulu Board of REALTORS®, single-family homes were on the market for an average of 25 days, while condominiums were on the market for an average of 29 days, before getting an accepted contract and opening escrow. And while lack of inventory has been a headline for months, the latest report show that inventory of single-family homes and condominiums was up in February — new listings were up 6.4% in the single-family homes category, and up 14% in the condo segment — which may account for a slight decrease in the median price paid for a single-family homes and condos last month. The increase in inventory, along with continued record low mortgages…

Selecting a Lender

Finding a mortgage lender is not a problem. Selecting someone who will help you find the best loan product for your situation even if it means sending you to another lender is paramount. There is a huge advantage to be able to sit across the table from someone you’re doing business with and look them straight in the eye. It’s difficult to make an informed decision based on a website and a phone call. Doing business with a full-time professional who specializes in residential loans like you’re trying to get is important. You want the loan officer to be familiar with local conditions, values and practices. It’s to your benefit to have a loan officer who has the experience to put the unusual transaction together even if yours is not. Here are a few questions that will be helpful in selecting the right loan officer. What percentage of your business are FHA & VA compared to conventional mortgages and how long have you been doing them? What percentage of your loans close on tim…

Spring Break Events for March 20-22

More Honolulu Spring Break Activities for March 20-22

March 20, 2015 @ 7:30 pm

Cirque de la Symphonie is a new production formed to bring the magic of cirque to the music hall. It is an exciting adaptation of artistic performances widely seen in theaters and arenas everywhere.
Neal S. Blaisdell Arena Concert Hall 777 Ward Avenue Honolulu, HI96814

$27, $40, $53, $66, $79
Get Tickets

Saturday, March 21, 2015 10:00 AM - 09:00 PM

Heiva i Honolulu, a great family friendly event at the Waikiki Shell. Hawaii's largest Tahitian dance competition with local, mainland and international competitors. Also featuring Polynesian handicrafts and food. 

Waikiki Shell

2805 Monsarrat Ave.

Honolulu, HI96815

St. Patrick's Day Block Party - March 17th

  Putting on my Irish tomorrow!  Don't forget to wear GREEN!  
Get out and celebrate St. Patrick's Day with a Block Party.

2 Merchant St Honolulu,HI96813 (808) 531-0422
This year will be Murphy's 28th annual St. Patrick's Day celebration. Everything starts at 11:30 a.m. on Tuesday, March 17, 2015 with great food and drink.
Brewers of Guinness have said "the single biggest St. Patrick's Day party any one bar throws in the United States."
At 5:00 p.m. Murphy's closes down Merchant Street from Nu'uanu Avenue to Bethel Street; Nu'uanu Avenue from King Street to the Nimitz Highway; and Marin Lane from Smith Street to Nu'uanu Avenue. Then they bring out the kegs of beer, other spirits and traditional Irish food, and the block party begins. 
Entertainment will be provided by the local Irish band Doolin' Rakes and the local band Elephant.

Invisible, Odor-free and Potentially Hazardous

Most people’s first introduction to Radon is during the inspections of a home. It can be as much a surprise to a seller as it is a buyer. Radon is an invisible and odor-free, cancer-causing radioactive gas. Radon can get into a home through cracks in solid floors, construction joints, cracks in walls, gaps in suspended floors, gaps around service pipes, cavities inside walls and even the water supply. It is estimated that one out of every fifteen homes in the United States has elevated radon levels. The EPA recommends that you test your home which is the only way to find out if you and your family are at risk. If the level found is 4 picocuries per liter or higher, the EPA suggests that you make repairs or install a radon reduction system. Even lower levels can have health risks. The EPA’s interactive map is available to find state and county information but still recommends that all homes should test for radon. More information can be found from the EPA in A Citizen’s Guide …

Oahu Housing Stats February 2015

For February 2015, Median Sales Prices of Homes on Oahu have dropped a bit, but our supply of housing is still a challenge. "Days on Market" for condos is 29, and for single family homes is just 26. That means it takes less than a month to get an accepted offer! It's competitive, but if you have a good REALTOR, you will find success!

8th Annual DVAC Golf Tournament at Malama Bay!

Chipping Away at Domestic Violence ...Get out your golf clubs and come join us for a fun-filled event that helps a fantastic cause! This year, the Domestic Violence Action Center (DVAC) is celebrating 25 years of supporting victims of abuse.  Please support this worthy cause and consider a sponsorship, donating a prize, or playing a round with us.  All golfers welcome!  This is a fun "scramble" format, and there are lots of great prizes to win!

April 24, 2015 Mamala Bay Golf Course at Hickam Air Force Base

Honolulu Spring Break 2015 Events

Spring Break is upon us and here are a few upcoming events!  This weekend, March 13th- 15th, check out: 

The "Honolulu Music, Arts,and Food Festival" at the Aloha Stadium;
The "First Hawaiian International Auto Show" at the Convention Center; and 
The "Hawaii Kai Carnival 2015"!  See details below for additional information.

Honolulu Music, Arts & Food Festival
MUSIC – featuring 17+ Bands (Reggae, rock, country, jazz & blues), 6+ DJs LOCAL + NATIONALLY KNOWN ARTISTS ARTS Arts & Craft Vendors, Fine art & Sculpting, Local school art display FOOD Taste some of Honolulu’s finest restaurants & different varieties of food FAMILY FUN Petting zoo & pony rides, circus acts​,games, bounce houses, face painting, obstacle courses, giant slide, archery, popcorn, cotton candy, & snow Cones BEER, WINE, & SPIRITS 21+ can enjoy the taste of beer, Wine & Spirits from around the world…A special area for the adults to play BULLY DOG SHOW Featuring …

Fast and Easy But is it Accurate?

There are sites all over the web that offer to tell you what your home is worth.  Simply plug in your address and email and you’ll get a value.  It’s fast; it’s easy but is it accurate? The value is determined by what is called an Automated Valuation Model (AVM) that analyzes public record data with computer decision logic.  Square footage, age, number of bedrooms and location are easily definable objective data.  The challenge is identifying, measuring and comparing the subjective data. An AVM cannot identify how unique features might add or detract from the value, if the market is declining or why the comparable sales apply or don’t apply to the subject property.  Is a home worth more because it is near shopping or less because it is across the street from a high-traffic commercially zoned property? Experienced professionals are more likely to make proper adjustments for condition, market appeal and positive and negative influences. Imagine that you’re going out for dinner …