David Buck, R, BIC

David was born and raised in Hawaii, growing up on both Oahu and Maui. He is a 2nd generation real estate professional and 3rd gereration businessman in Hawaii. He graduated from Punahou School and went on to earn his degree in Environmental Analysis and Design from the University of California at Irvine. His hard work didn't stop there. He went on to become a Honolulu Firefighter. After 7 years of two careers "putting out fires" figuratively and literally, David made the decision in 2007 to sell real estate full time. However, he still carries on the Honolulu Fire Department's motto of Pride, Service and Dedication to servicing his clients' needs.

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RealtyTrac’s latest numbers are out for February of 2010

As foreclosures continue to rise on Oahu, there will be more and more REO’s or lender owned properties coming back on market. Once properties are listed as an REO, they are typically priced well and sell fast.

Oahu REO Galleries

Oahu single family home REOs →
Oahu Condo REOs →

Top 5 zip codes for Oahu Foreclosures

Ewa Beach and Kapolei have consistently been at the top, as they were in January and in 2009. More »

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The Honolulu Board of Realtors has released statistics for February and we continue to outpace our 2009 sales figures.

January was a fabulous month as we led the nation in rebounding sales. February turned out to be another strong month as there were 157 single family home sales for an increase of 21.7% over last year. Meanwhile, there were 231 condos that sold for an increase of 44.3%! More »

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I had a feeling our numbers were strong in January when I wrote a post about Oahu’s home sales recently. However, I didn’t realize how strong they were.

A recent Associated Press article in the Star Bulletin titled Isle home sale surge leads nation said that Honolulu had the highest precentage change in number of transactions in the nation!
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Oahu’s 2 Newspapers Consolidate

Posted by David Buck, R, BIC on February 26th, 2010 | Tags: ,

Is Newspaper a dying medium

I just saw on the evening news that the Star Bulletin will be purchasing the Honolulu Advertiser. This is a pretty big event!

The Honolulu Advertiser is owned by Gannet, which is owned by Rupert Murdoch’s Newscorp and has been the largest paper in circulation on Oahu. The Star Bulletin has been our smaller paper owned by David Black out of Canada. I’ve actually preferred the Star Bulletin over the Advertiser the last few years as it’s been more appealing to Realtors offering better pricing for ads. It also has had a much better business section in my opinion.

Although this is a monumental acquisition, it doesn’t come as a surprise to me. There’s been a trend now for years of newspapers going bust. More »

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There was a great article in yesterday’s Sunday paper titled Diamond Head Architectural Classics on the Market. The article featured two listings:

1) 4315 Panini Loop which was designed by Claude Albon Stiehl in 1930

4315 Panini Loop

2) 2911 Makalei Place which was designed by Charles William Dickey in 1932

2911 Makalei, Diamond Head Home for sale

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Honolulu Prices Coming Down, Just Not Too Fast...

According to an article in the Star Bulletin titled Real Estate in Honolulu sees fewer and smaller price drops, Honolulu is now ranked 41st out of 50 major cities for price reductions.

19% of Honolulu listings on the market over the last year have dropped their price at least once. Why so little? Listings that are priced well don’t require reductions. Two of my last three listings I sold were previously listed by another brokerage firm. When they relisted with Hawaii Life’s Smart Marketing and Solid Representation at the right price, we sold them fast. More »

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David enjoying ride

Hawaii Reporter recently announced there’s a New Phone System for Recorded Weather and Surf Updates on Oahu. This will be much more convenient as several phone numbers were required for the old system. The new 808-973-4380 number can also accommodate multiple callers!

I’ve saved this number to auto-dial on my phone. It’s perfect for all those living their Hawaii Life. Whether you’re looking to paddle from Hawaii Kai to Waikiki, Surf the North Shore or hike in Manoa, you can know what the weather, wind and surf will be from one phone number!

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Yesterday’s front page of the Star Bulletin read Foreclosures Up 286%. Hawaii dropped from our worst ever ranking of 10th nationally to 11th in January. In December, Ewa Beach led Oahu in foreclosures. However this month, Kapolei surpassed Ewa Beach (now 3rd in the state) and Kailua-Kona (ranked 2nd) on the Big Island. More »

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There was a recent article in the Pacific Business News titled 2010 Oahu home sales off to fast start that talked about how we’ve been on a roll here on Oahu with home sales up every month since January 0f 2009! Year over year home sales were up 33% with 166 sales and condo sales up 43% with 227 sales! This momentum has definitely carried on from November and December of 2009. What was interesting to see was the median price of a single family home was up 11% from last year, while the median sales price Oahu condos was down 2%. While the numbers were great, real estate is always local…

Where  was up?

Where was down?

  • Wahiawa experienced the highest depreciation with prices down 32.8% year over year
  • Makaha/Nanakuli had the largest drop in number of sales down 61.5% year over year

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3939 Kahala Ave.

There are two homes that recently sold on the boarder of Diamond Head and Kahala that have had tremendous appreciation compared to the rest of Oahu and the nation for that matter.

  1. 3939 Kahala Ave. just closed today at $3,150,000.  It last sold January 23, 2008 for $2,340,000 for an appreciation of 34.6% over 2 years or 17.3% annualized return.
  2. 4322 Kahala Ave.  also just sold on 1/26/2010 for $3,500,000. It last sold for $2,600,000 on July 25, 2008 for an appreciation of 42.3% over 1.5 years or 28.2% annualized return.

These aren’t bad returns considering the economy and other investment vehicles. The stock market is still volatile, everyone is running to gold and how soon we forget how real estate can be a great asset class to invest in :)

If you’re looking for some well price homes near these, here’s a few:

4322 Kahala Ave.

One wild guess why these have gone up while other areas of the island have gone down? Location, location, location….

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