The Japanese yen (¥) to U.S. dollar ($) conversion has been the lowest ever as far as I remember. At ¥76 to a dollar range, the yen is at it’s highest level since WWII. When I first came to U.S. 16 years ago, the exchange rate was ¥125 to the dollar. The ¥125 range had been considered the norm for a long time. When the yen dropped below ¥125, Japanese buyers felt like they were getting discounts in U.S. stores. If you apply this same concept to a much larger purchase like real estate, your savings can be pretty considerable. Instead of keeping your yen in a low-interest yielding bank account in Japan, it may be worth investigating investing your yen in Hawaii real estate instead. Not only will you enjoy your Hawaii visit more, the value of your investment will increase as the dollar increases in strength. Or if you choose to purchase a rental property, your net rental income might be better than the interest that you get from your bank in Japan.
Talk to your accountant to see if this opportunity is right for you. Then talk to me.
Buying a new home can be a stressful time in your life, especially when finding the perfect home that fits your budget seems next to impossible. If you’re like most first time home buyers, you probably think you need to purchase a condominium because houses here are too expensive.
Well there’s a very charming single family house in Honolulu that’s available at a condo price. It’s not a CPR so there are no condo maintenance fees. In addition, the entire house has been recently renovated and includes a new kitchen and bathroom. All kitchen appliances and washer are brand new. And there’s also yard space for gardening.
If you’re interested in learning more about this little gem near downtown Honolulu, please contact me.
Have you ever considered renovating your home? There are dozens of home improvement television shows that will inspire you to turn your home into your dream home… yourself.
But in reality, there’s a lot more detail involved than what you see on TV. And it’s not uncommon for the novice do-it-yourselfer to run into problems, go over budget and take much longer finish the project than they initially planned (if they finish at all). Sometimes it may just make sense to find the perfect home, instead of building it (or renovating it) yourself, where someone else already dealt with the headaches of the renovation.
I know of such a home.
There’s great listing with an unobstructed ocean view that has been fully renovated this year. A total of $115,000 was put into renovations to convert this spacious one-bedroom unit into a dream home. The listing is being offered at $579,000 and is in perfect move-in condition.
Some great advice in US News & World Report… the top 10 mistakes of first-time home buyers.
1. Not checking your credit report and score
2. Not getting preapproved
3. Not creating a long-term budget
4. Forgetting about the hidden costs
5. Not using professional help
6. Picking your real estate agent and lender blindly
7. Thinking you’ll get everything on your “wish list”
8. Not keeping your feelings in check before hiring a home inspector
9. Not researching your neighborhood
10. Not considering the resale value of your home
If you avoid all these mistakes, you will be in much better shape. Your transaction will be smoother, your stress level will be lower, and your expectation level will be more in alignment with your results.
Just posted a virtual tour of 616 Kumukahi Pl on Spinnaker Isle in Hawaii Kai.
This single level Spinnaker Isle home on the marina waterfront offers a large study room, living room and dining area. The house has a large open lanai, boat dock and boat ramp (under the wooden deck) for your boat. We just hosted our first open house today, please contact me if you would like to schedule a showing.
For more virtual tours of this property, please visit my YouTube Channel.
I’ll be posting virtual tours of my listings here, so you can preview them before deciding whether you want to visit them in person.
My first virtual tour is “The Continental” at 933 Kaheka St. Come and take a look at this great condo. Located on Kaheka Street near Don Quijote. This condo is 750 sq ft with 2 bedrooms/1 bath/1 parking and includes a washer dryer in the unit! Great location close to Waikiki, downtown Honolulu, University of Hawaii, Hawaii Pacific University, parks and beaches. This home is spacious and very clean. MLS# 2905970
Back in 2006, people were lining up to purchase units at the Moana Vista condominium project. As the economy took a turn for the worse, people started backing out for fear that interest rates will climb before the project can be completed.
Today, the building stands half-finished as construction has been stalled since December. The developer is stuck without cash and reducing prices, but people are waiting for completion. And now, to make matters worse, the the contractor is suing the developer for $30 million.
Check out the KITV story here. Stay tuned for more on this development.
Examining a nest of bees that moved into a foreclosed home
Interesting story on Nightline the other night about a realtor who is brutally honest when warning potential buyers about houses on the market, including his own listings.
“I don’t know if this is a flophouse, brothel, retirement home, prison, fraternity…” he announced on a recent visit to a bank-owned property in northern San Diego County, his home turf.
And this was a property he was trying to sell.
I’m not sure how focusing on the negative aspects of a property makes a person more “honest.” Perhaps because he appears to have nothing to hide? But isn’t that what disclosure statements are for?
I think when you represent the seller, you need to focus on the positive aspects of the property and properly disclose the negative. Even if it’s a foreclosed property, you’re still selling it, you’re not giving it away.
Check out the Nightline story here and let me know what you think.
Based on the information from the Multiple Listing Service of the Honolulu Board of REALTORS® active listings last updated on .
Information is deemed reliable but not guaranteed.