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.
Prospective home buyers are finding that the two-point drop in interest rates over the past few months equates to more buying power, meaning it’s a good time to buy.
The median price of a single-family home in Hawaii fell to $539,500 in January, the lowest price since 2005 according to the Honolulu Board of Realtors.“The current economic conditions are causing buyers to take a ‘wait-and-see’ attitude, as evidenced by the slow sales in Oahu’s residential housing marketing during January,” said Sandra “Sam” Bangerter, the board’s 2009 president.
Hawaii Realtors weigh in on Economy.com’s prediction. In this story by KGMB, realtors agree that a 30% drop is too drastic. It’s predictions like these that destroys consumer confidence and creates unrealistic expectations for potential buyers.
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.