June 2011

There are 20 blog entries for June 2011.

Buying a Vacation Rental Property on Oahu, Hawaii - Part 4

Ok, now that we've answered some FAQ's,let's return to the topic of using a Property Manager vs. Renting Your Vacation Home By Owner

Using a Property Manager vs. Renting Your Vacation Home by Owner

According to an article written by a community editor at "Community from HomeAway" an online organization that deals with optimizing your vacation rental business, the following points were made:   When you are thinking about how you will manage the rental of your vacation home, you have to choose which management style will work best for you.

Using a Property Manager   Should you choose to worth with a property manager, you should start by researching management companies online.  Analyze the

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Honolulu Board of REALTORS® Market Information: Oahu May 2011

The May 2011 Residential Resales Statistics Press Release* can be downloaded HERE.

The May 2011 Monthly Statistical Report* (MSR) is comprised of three types of reports:

1. Monthly Indicators ~ Reports will include number of closed sales, median sales prices, new listings, pending sales, days on market.
> Download the May 2011 Month Indicators HERE.

2. Housing Supply Outlook ~ A detailed analysis by property type and price range demonstrating current trends.
> Download the May 2011 Housing Supply Outlook HERE.

3. Local Market Updates ~ Individual reports for the various neighborhoods which display both single-family and condominium sales activity.
> Download the May 2011 Local Market Updates HERE.

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Honolulu Condos - Quick Market Statistics

(All data is compared to the same month last year.)

Number of Sales

Condominium:             330 (10.3% DOWN)

Median Sales Price

Condominium:             $290,000 (4.9% DOWN)

Days on market

Condominium:             36 days (8 days INCREASE)

Inventory

Condominium:             1,919 (8.7% DECREASE)

Mahalo For Reading.

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Great rates are here - for a little while anyway!

Investors focused on the Fed meeting and Greece this week. A reduced growth forecast from the Fed and continued concerns about the situation in Greece helped mortgage rates move a little lower.

As widely expected, the Fed made no change in the fed funds rate, and Fed policy appears unlikely to change in the near-term. The Fed lowered its forecast for 2011 GDP growth to 2.8%. This is down from 3.2% at the last meeting, but it does assume faster growth during the second half of the year. Inflation is expected to remain low. The Fed gave no indication that it will provide additional monetary stimulus any time soon. In short, it will likely take a major improvement or deterioration in the economic outlook for

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It's Aloha Friday Again:  Waikiki Steel Guitar Festival

According to Travel Video News, "Waikiki Beach Walk and Outrigger Enterprises Group are pleased to present the 2nd Annual Hawaiian Steel Guitar Festival this July as part of Outrigger's ongoing Na Mele No Na Pua Music Heritage Program. The month-long celebration will feature some of the islands best steel guitarists, as well as artists new to the instrument, on stage at Waikiki Beach Walk every Sunday evening during the month, with performances on July 3, 10, 17, 24, and 31."

"Waikiki Beach Walk and Outrigger Enterprises Group are pleased to present the 2nd Annual Hawaiian Steel Guitar Festival this July as part of Outrigger's ongoing Na Mele No Na Pua Music Heritage Program. The month-long

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Hawaii Sees Fewer Foreclosures in May 2011

According to Pacific Business News and RealtyTrac, "Foreclosures in Hawaii fell nearly 15 percent in May compared to the same month last year."

There were a total of 900 homes with foreclosure filings last month, including 87 notices of default, 438 trustee sales and 375 bank repossessions, according to Irvine, Calif.-based RealtyTrac. One in every 573 housing units in the Islands received a foreclosure filing. That placed Hawaii 12th in the nation, meaning that only 11 states had worse foreclosure percentages.

Mahalo For Reading.

 

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Mortgage Applications Surge Amid Falling Rates

According to "RealtorMag", found online at www.Realtor.org, "More people are applying for mortgages: Applications for home mortgages had their largest increase in three months due to falling record-low interest rates, the Mortgage Bankers Association reports.

MBA's seasonally adjusted index of mortgage application activity increased 13 percent for the week ended June 10. That marks the index's biggest gain since March. The index measures applications for refinancing and purchase demand."

Read, the rest of the article, "Mortgage Applications Surge Amid Falling Rates".

Mahalo For Reading.

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Oahu Local Market Updates out for May 2011

Contents of the Local Market Updates Report include:

  • SINGLE FAMILY HOMES AND CONDOMINIUMS - FOR 21 AREAS
  • New Listings
  • Closed Sales
  • Median Sales Price
  • Pct. of Original List Price Received
  • Days on Market Until Sold
  • Current Inventory

 View the Oahu Local Market Updates Report for May 2011 Now.

Mahalo For Reading.

2,116 Views, 0 Comments.

Hawaiian idyll: Canadians finding bargains in the Aloha State

According to an article written by Grania Litwin, PostMedia News and seen online at www.Canada.com, "Snorkelling, swimming, surfing and suntanning aren't the only reasons Canadians visit Hawaii these days.

They're saying aloha to condos and homes that have plummeted in price as much as 60 per cent since January 2008, while the Canuck buck soars. Why buy a cottage on a lake in Canada when you can be on a beach with gardenia-scented breezes?

``What's really driving the market is foreclosures,'' says Re/Max Resort Realty's Howard Dinits, who lives on Maui.

``Many island properties here were bought as second homes by speculators in the States. In the economic downturn, people used revenue

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May 2011 Oahu Housing Supply Outlook

Contents of the Housing SupplyOutlook Report include:

  • PROPERTY TYPE ANALYSIS
  • Inventory
  • Months Supply
  • Home Sales
  • Pct. of Original List Price Received
  • Median Sales Price
  • Days on Market Until Sale
  • PRICE RANGE ANALYSIS
  • Inventory
  • Months Supply
  • Home Sales
  • Pct. of oroginal List Price Received
  • Days on Market Until Sale

View the Oahu Housing Supply Outlook Report for May 2011 Now.

Mahalo For Reading.

2,080 Views, 0 Comments.
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