October 2010

There are 23 blog entries for October 2010.

Recent Sales Activity for Waikiki Landmark Condos

Here are the latest statistics for sales in the last six months at the Waikiki Landmark.

Number of Units Sold:  4 (all Fee Simple)

Price Range:  $670,000 to $1,925,000

Average List Price:  $1,086,250

Average Selling Price:  $1,043,750

Percent of Asking Price:  96%

Average Cost per Square Foot:  $493.73

Average Days on the Market Before Sold:  41

Mahalo For Reading.

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This is news! most new construction condos in Cleveland have been a bit in denial over the market and kept prices relatively the same throughout the overall decline.  The developers at Stonebridge Plaza on the West Bank of the Flats have recently made MAJOR price reductions up to $100,000 off, in an effort to be viewed as more of a bargain and to get some would be buyers off the fence.  I think it is a great move and puts them in a very competitive place.  You should see other developers follow suit if they know whats good for them.
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According to Honolulu "Star Bulletin" Newspaper, Honolulu is Ranking in Top 100 for Foreclosures

If you've been thinking about getting a good deal and purchasing a bank owned, foreclosed property on Oahu, perhaps this is a great time.  We've been seeing a slow increase in the number of foreclosures for both homes and condos.  Bank owned condos for sale in Honolulu have almost tripled in the last several weeks.

We send our clients a weekly email newsletter called "Honolulu Condos Listing Alerts", where we identify all foreclosed homes and condos on Oahu and in Honolulu, as well as all short sale properties currently for sale.  To subscribe to the "Honolulu Condos Listing Alerts", click on the link.

Click here to read the Honolulu "Star Advertiser"

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US Bank took over a little bank called Pacific National Bank back in 2009. In doing so they were able to scoop-up the debt to a little downtown San Jose building called 360 Residences. As most Realtors might already know from reading their marketing material from The Mark Company this development has been Half Sold Out since before they started construction.

The 360 Residence has been having financial problems? - "what is that you say how could they with half the units already sold?" I think that the Mark Company has been caught in a little fib that in our industry can cause some big issues. Now I know why they keep saying it, trying to build some sense of urgency for potential buyers but as a Realtor it is against rules and ethics to not tell the truth.…
2,641 Views, 0 Comments.

Upcoming listings:

(View from 1372 Union during Fleet Week)

$3,295,000 // Russian Hill //1372 Union Street BR/BA: 4/3.5 PKG: 2 Brief Description: Stunning views, sophistication and exceptional craftsmanship define this exquisite two-level flat in the heart of Russian Hill. Its thorough, ground up architectural remodel was completed in 2010 and included the creation of an open floor plan, unique design elements and unparalleled craftsmanship. Spanning over 3,200 square feet this flat offers the best of modern living

$1,598,000 // Noe Valley // 156 Vicksburg St. BR/BA: 3/2.5 PKG: 1 Brief Description: Renovated from studs up – Walk into large open living/dining room with fireplace – that open to large kitchen/den. 3 bedrooms downstairs – master

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Home Sales with and without Parking: note that many condo developments offer parking by lease instead of by title, which is a very different situation than a condo or house that does not have onsite parking and leases it nearby. Appraisers have estimated that the first parking space is worth about 10% of the price.

TIC Sales by Quarter over the Past 3 Years: huge decline due to financing conditions.

Average Days on Market for SFDs & Condos by Quarter over Past 3 Years: lowest in 2 years.

SF SFD (House) Median Sales Price by Quarter over Past 3 Years: overall stability since 2nd Quarter 2009

SF Condo Median Sales Price by Quarter over Past 3 Years: overall stability since 2nd Quarter 2009

Stay up-to-date, on-demand!

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One Ecker – With the public release now behind us, One Ecker has been very well received by the community. Thus far, 13 homes have already gone into contract and we strongly encourage our clients to schedule an appointment with us if they wish to take a look.

The project is a converted ice house. This brick and timber structure has been turned into beautiful loft-like condos in the heart of the financial district. However, given the proximity of this building to the surrounding high rises, the natural light in each home varies greatly. We believe that the most premium homes will sell very quickly and we want to provide our clients with the opportunity to take a first look.

Please keep checking back for further updates!

1,974 Views, 0 Comments.

Sales Activity for Hawaiki Tower, Luxury Condos in Kakaako, Honolulu

Here are the latest statistics for sales in the last six months at Hawaiki Tower Condos in Ala Moana-Kakaako

Number of Units Sold:  10

Price Range:  $545,000 to $1,360,000

Average List Price:  $867,150

Average Selling Price:  $846,400

Percent of Asking Price:  98%

Average Cost per Square Foot:  $715.47

Average Days on the Market Before Sold:  53

Mahalo For Reading.

2,110 Views, 0 Comments.

High-Rise Condo Planned for Nordstrom Garage at Ala Moana Shopping Center?

According to an article in the Honolulu daily newspaper, the "Honolulu Star Advertiser", a possible high-rise condominium to be built on top of the Nordstrom parking garage at Ala Moana Center  just outside Waikiki, as well as the development of 60 acres in the Ward Center area, may become projects considered by a relatively new developer in the area, as part of the bankruptcy reorganization of the Ala Moana Shopping Center owner General Growth Properties.

Read the rest of the article, "New Deal" on the "Honolulu Star Advertiser" website.

Mahalo For Reading.

2,781 Views, 0 Comments.

Upcoming listings:
$2,000,000 // Sea Cliff // 134 32nd Ave BR/BA: 4/3 PKG: 2 Brief Description: 3,000 sq. ft., 4 level detached home.Great floor plan. Grand family room with walk-out decks to the west and east on the top floor. 180 degree views of the GG Bridge, Presidio, downtown, and much of the city. Gorgeous woodwork and period details. One block from the Lands End trailhead and the famous 17th hole of the Lincoln Park Golf Course. Short walk to China Beach and the Legion of Honor. FIRST OPEN: In the next week or two.

$1,999,000 // Cole Valley // 718 Cole Street BR/BA: 3/ 3.5 PKG: 3Brief Description: Grand Victorian painted lady. LR, FDR, Remodeled Kitchen & Family room on main floor. Deck and landscaped backyard off family room. 3 bedrooms and

1,819 Views, 0 Comments.
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