There were 3,985 Oahu properties in foreclosure in 2009, a 142 percent increase over the number of foreclosure filings in 2008, and a 672 percent increase over 2007. But Hawaii foreclosures ranked well below other metropolitan areas (128th out of 203). Las Vegas ranked number one.
I believe there is reason to be optimistic. There was a surge in home sales in December 2009, and Paul Brewbaker, principal of TZ Economics is calling January 2009 “the bottom of this cycle.” People rushed to cash in on a federal $8,000 first-time homebuyers’ tax credit, and the November 30 deadline has been pushed back to April 30.
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.
According to the Hawaii Board of Realtors residential resale statistics for Oahu, median home prices dropped in the month of May.
The median home price dropped from $585,000 in April, to $550,00 in May (compared to $649,000 May 2008).
Condo prices fell from $310,000 in April to $305,000 in May (compared to $337,000 in May 2008).
According to Honolulu Board of Realtors president Sandra “Sam” Bangerter, our housing market may be showing signs of bottoming out “Single-family home sales rebounded a bit in May and the sales speed of 49 days was faster than at the same time last year. While prices were lower for single-family dwellings, the condominium median price has been holding quite steady at just over $300,000. These are just some of the signals that our housing market may be starting to return to normalcy.”
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
Woke up early Saturday morning to walk for another good cause, The Hawaii Visitor Industry Charity Walk. This year’s walk raised $925,000 for local charities. Some of those local charities includes: Habitat for Humanity, Boys and Girls Club, Mental Health Kokua, Public Schools of Hawaii Foundation, Big Brothers Big Sisters, Ronald McDonald Charities and more totaling 190 different charities.
ビジターインダストリー チャリティーワァーク
土曜日に早起きをしてちょっと社会に貢献していきました The Hawaii Visitor Industry Charity Walk. 毎年恒例のこのイベントは今年は$925,000もローカルチャリティーグループに貢献しました。 例としてHabitat for Humanity, Boys and Girls Club, Mental Health Kokua, Public Schools of Hawaii Foundation, Big Brothers Big Sisters, Ronald McDonald Charities など合計で190以上のチャリティーグループがこの恩恵を受けました。
I spotted a Google Street View Camera Car (with California plates) in downtown today. Hawaii is the only state without any street view coverage on Google Maps and Google Earth, but it looks like that’s about to change very soon. Street View allows users to see 360 degree horizontal and 290 degree vertical views anywhere along the street. The camera cars have caught people in some compromising positions prompting privacy fears, but I think Google Street View will become a valuable tool for prospective buyers who want to “visit” neighborhoods online.
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.
According to MainStreet.com’s happiness index, Nebraska is the “happiest” state in the nation. The top ranking is a result of the following rankings… Nebraska ranked #2 overall in lowest number of foreclosures, #2 overall in lowest unemployment rates, and #5 in lowest percentage of non-mortgage debt by income.
By comparison, Hawaii ranked the 4th happiest state. Hawaii ranked #21 overall in lowest number of foreclosures, #14 overall in lowest unemployment rates, and and #1 in lowest percentage of non-mortgage debt by income.
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.