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.

According to the Pacific Business News Home sales on Oahu were up in January 2010, compared to January 2009. There were 162 single-family homes sold, compared to 122 homes sold last January… a 33 percent increase. Great news, but then again, everything is relative… according to a Star Bulletin article published a year ago, experts called January 2009 “very weak” for single-family home sales.

Here’s how the numbers stack up over a 3-year span:

For the first time in almost a decade, Hawaii home prices are the highest in the nation.  According to experts, this is a sign that Hawaii’s real estate market is stable, compared to those on the mainland. In California’s Bay Area, the median price of single family homes dropped more than 40% compared to 1st quarter 2008 (Hawaii’s median price dropped 8% in the same period).

Luckily, we didn’t see the huge swings in our market, but economists warn that increasing interest rates may lower demand.

オアフ島不動産価格全米最高値　（今のところ．．．）
１０年ぶりくらいに ハワイの住宅価格が全米で一番の最高値になった。 専門家によると、これはハワイの不動産市場がアメリカ本土に比べて安定していると見ている。　カルフォルニアのベイエリアは、一軒家の中央価格が去年の第四半期に比べると４０%以上にも下落 している（ハワイの同時期の中央価格下落率は８％）

幸運にも、私たちの市場は大きな反動は見られなかったものの、専門家はローン利率上昇で不動産需要が下がるだろう懸念している。