November 2010

There are 22 blog entries for November 2010.

Private Equity Firms Buying Allure Waikiki, Honolulu Highrise Condos

According to "peHUB" and a Press Release from "Tomson Reuters", "A group of private equity investors have teamed up to buy Allure Waikiki, a 35-story condo tower in Honolulu. ST Residential, which is managed by Greenwich, Conn.-based Starwood Capital Group; Fort Worth, Texas-based TPG Capital; WLR LeFrak and Perry Capital partnered on the deal, though no financial terms were released."

"Allure Waikiki is a 35-story condo tower in the heart of Honolulu's Waikiki beach that was completed earlier this year. Allure was completed at a time when there was a tremendous amount of uncertainty in the economy, especially with high-rise residential real estate."

"Allure Waikiki is a

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Honolulu Luxury Condos: Recent Sales Activity in Keola Lai

Here are the latest statistics for sales in the last six months for the Keola Lai, Honolulu Luxury Condominiums.

Number of Units Sold:  14

Price Range:  $460,000 to $1,950,000

Average List Price:  $651,827

Average Selling Price:  $643,000

Percent of Asking Price:  99%

Average Cost per Square Foot:  $671019

Average Days on the Market Before Sold:  65

Mahalo For Reading.

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Honolulu Distressed Properties: Some Definitions Part 3

Today, many buyers are interested in bargains and some focus on distressed properties that may be a short sale, in foreclosure or is bank owned.  Many are confused by these different terms and situations so I thought I would define three common situations and terms.

Today, let's take a look at lender owned properties:

Lender Owned Properties - These are properties that have been foreclosed on by the lender.  At public auction, there were no buyers, so as a result, the property is now owned by the lender.  Typically the lender's asset managers will list these properties with real estate agents.  When they come on the market, they are identified in our MLS as "Lender Owned.

Also referred to as

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Honolulu Distressed Properties: Some Definitions Part 2

Today, many buyers are interested in bargains and some focus on distressed properties that may be a short sale, in foreclosure or is bank owned.  Many are confused by these different terms and situations so I thought I would define three common situations and terms.

Today, let's take a look at foreclosure properties:

Foreclosure Properties - These are properties that are in the process of being foreclosed on by the property owner's lender.  In the State of Hawaii, all foreclosures are a judicial process.  When a property owner falls behind in their mortgage payments, at some point, foreclosure proceedings begin and the process to place the property for public auction begins.  If the property is

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By Janna Herron, AP Real Estate Writer

NEW YORK — Rates on fixed mortgages jumped from their lowest levels in decades this week.

Mortgage buyer Freddie Mac said Thursday the average rate for 30-year fixed loans rose to 4.39% from 4.17%, the lowest level on records dating back to 1971. The 15-year loan also climbed to 3.76% from 3.57%, the lowest since that survey began in 1991.

Rates rose because Treasury yields climbed to their highest level since July. Mortgage rates tend to track those yields.

The yields rose mostly because traders dumped Treasurys they bought up before the Federal Reserve announced its $600 billion bond-buying program to spur the economy. Republican economists and lawmakers have criticized the Fed program, saying it could lead

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Honolulu Condos and Distressed Properties

Today, many buyers are interested in bargains and some focus on distressed properties that may be a short sale, in foreclosure or is bank owned.  Many are confused by these different terms and situations so I thought I would take a moment and define three common situations and terms.

Today, let's take a look at short sale properties:

Short Sale Properties - Short sale is the process a homeowner attempts to go through to prevent foreclosure.  They ask the lender to forgive the debt since they are selling the property for less than what is owed.  This is also known as a short pay. The sale is contingent upon approval by the lender. There is no guarantee that the bank will accept a short sale even if the buyer

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By NICK TIMIRAOS

The Federal Housing Administration won't need a taxpayer bailout—at least for now.

The agency's cash reserves have stabilized after dropping sharply over the past two years, according to its annual audit, to be released Tuesday.

The FHA, which guarantees home loans, has seen its business jump in recent years as the government relied on the agency to back more loans—with down payments as low as 3.5%—to shore up the housing market.

The agency guaranteed $931 billion in loans at the end of September, up 36% from a year ago. Three years ago, it guaranteed $332 billion in loans.

The FHA's rapid growth, and a jump in loan defaults, had critics warning it would need government funding for the first time in its 76-year history.

But

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Waikiki's Planet Hollywood Now Teddy Bear World?

According to an article posted on www.MSNBC.com, "The company behind the world's largest teddy bear theme park and museum in South Korea has expanded to Hawaii. The company spent $5 million to turn the former Planet Hollywood Waikiki into 17,000 square feet of teddy bears."

To read more about Teddy Bear World in Waikiki, visit the www.MSNBC.com website.

Mahalo For Reading.

2,183 Views, 0 Comments.

Exciting Prospects for Ilikai Condo Properties in Waikiki with Marriott Spending $40 Million to Renovate New Edition Hotel

For those of you who have been watching the condo sales in the two adjacent buildings, the Ilikai Apartments and the Ilika Marina, take note that this major renovation and new luxury boutique hotel has greatly improved the overall feel and image of this significant harbor-front property located at the gateway to Waikiki Beach.

We recently walked through the hotel lobby and outdoor bar and were stunned to see such a major change.  It was modern, clean, chic, hip and active with people onjoying themselves.  Not only does this add one more unique, boutique style hotel to the ara, but also includes a new Japanese restaurant,

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Upcoming listings:
$2,995,000 // Noe Valley //465 Hoffman BR/BA: 4/4.5 PKG: 2 Brief Description: Stunning architecturally significant home with dramatic views and an au-pair unit down.

$1,695,000 // Cole Valley // 8 Carmel Street BR/BA: 3/3 PKG: 1 Brief Description: Historic building, once Firehouse # 40, now a 3 level townhouse condo remodeled with exquisite details. About 2800 square feet with views of GG Bridge and headlands from the master suite. Open and elegant loft-like living room with original fire pole. Gourmet kitchen. Bonus Darkroom. Avail to show in a couple of weeks.

$699,000 // Miraloma Park // 715 Myra Way BR/BA: 3/2 PKG: 2 Brief Description: Charming single family home with great floorplan – 3 bedrooms on main level and bonus

1,717 Views, 0 Comments.
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