Matt started his real estate career in 1998, and became a Broker in 2003. His 10 years of real estate sales have given him the opportunity with wide range of clientele, from celebrities to foreign nationals, to families who have lived in Hawaii for generations. Matt has sold over $90 million in real estate in Hawaii, and served as a Broker-In-Charge for some of Kauai's top firms. In addition to real estate sales, Matt has also been the developer of several condominium projects (CPRs) and has bought and restored several homes on Kauai. In May of 2008, Matt stepped into his current role of President and Principal Broker of Hawaii Life Real Estate Services.
Posted by Matt Beall, PB on March 5th, 2010 |
Tags: Big Island, Hawaii, Life, Video
I came across this incredible time-lapse photography piece of the Milky Way and stars as seen from the summit of Mauna Kea on the Big Island.
It’s stunningly beautiful, and we’re able to see it because of the lack of light-pollution on the Big Island…which for me is such a powerful reminder of all the other types of pollution that Hawaii is so blessed to be without More »
Posted by Matt Beall, PB on March 1st, 2010 |
Tags: Life, technology
Hawaii had quite the weekend, with the eyes of the world watching to see what the tsunami would bring. We’re grateful that there was no loss of life, or even damage to property… and it was great to see the coordination of the State and local officials to effect such a successful and efficient evacuation.
My wife and I were in Los Angeles for a wedding… and despite the fact that we didn’t have television where we were staying, I was able to stream all of the local news stations online and, perhaps even more impressive, watch information and links to resources pour into Twitter. The conversation around the tsunami emerged as the leading topic of conversation on Twitter. People sent in photographs, links to buoy readings in the Pacific, videos of the ocean as the series of waves came ashore. It was an incredible testament of the power of the information age.
Here’s a recent video that illustrates the growing number of internet use and social networking. The numbers referenced are astounding.
JESS3 / The State of The Internet from Jesse Thomas on Vimeo.
Even as I type this blog post, I’m sitting on a jet airliner 30,000 in the air, using a wi-fi connection. Incredible.
Posted by Matt Beall, PB on February 26th, 2010 |
Tags: Anini, Architect, Building, Hawaii, Kalihiwai, Kauai, Luxury
We’ve recently listed what we believe to be two of the finest homes on all of Kauai. Although they’re adjacent to each other, they’re definitely distinct from one another.
Situated on a ridge overlooking Kalihiwai Bay, the valley, and the river on one side, and the surf and reef at Anini on the other… these two homes make a powerful statement: If you’re going to have a luxury ocean view home on a bluff top on Kauai, be sure your architect and builder know what they’re doing. Location, Vistas, Privacy… these are all things we know to think of…
Kalihiwai Bay from the Living Room
But structure, maintenance, long-term care, durability… these are “intangibles”, that only come with experience. On Kauai, a house has to be built to handle sun, wind, rain, and… if you’re close to the ocean, salt. Concrete, stone, hardwoods, copper… and an intense focus on how to design these elements all combine to provide the substantial quality of these homes. More »
Posted by Matt Beall, PB on February 5th, 2010 |
Tags: Agents, Sales Stats
Super Mega Ultra REALTOR
Realtors are an extremely narcissistic group of people. They love to give themselves awards:
“Million Dollar Producer”
“President’s Circle”
“Grand Centurion”
“Top Producer”
The list goes on… but let me ask this: Does anybody care? Do our customers and clients care about awards that we give to ourselves, or are they more concerned with our standard of service? Does that average consumer have any idea what the innumerable acronyms that follow a Realtors’ name even mean? Here are some, you tell me: AHWD? RFS? RSPS? TRC?
Don’t get me wrong, we extremely value the commitment and hard work that’s required to succeed in this industry and we’re absolutely committed to education:
Hawaii Life is an extremely well-educated group of brokers and agents. We have very high percentage of licensed real estate brokers (as opposed to licensed salespeople). We have an exceptionally high number of Realtor designations: Graduates of the Realtors’ Institute, Certified Residential Specialists, Accredited Buyer Representatives, and so many more.
Part of the reason we have so many brokers with professional designations is because we pay for our Realtors to be educated. This year alone, we’ve been responsible for converting 5 new salespeople to become licensed real estate brokers! I don’t know of any other company in the State that offers this service for their brokers and agents. We do it because we take our commitment to our clients and customers very seriously.
There’s a very serious danger to “Awards”. It’s one thing to acknowledge each other for our hard work and commitment… it’s an entirely different thing if a Realtors’ focus is distracted from the clients best interest because of some “Award” status. It can happen quickly when Realtors are awarded for the number of houses sold in a certain time period, or sales volume, etc.
Our clients are PEOPLE. Just like our brokers and agents. They’re not UNITS, or VOLUME.
Posted by Matt Beall, PB on January 16th, 2010 |
Tags: Maui
Theatrical performances aren’t exactly abound in Hawaii… and certainly not on the “neighbor” islands. Maui’s Ulalena at the the Maui Theatre is a cultural and theatrical spectacle that’s a refreshing and enlightening option for theater lovers, locals, and visitors alike.
The Stage at Ulalena
The Maui Theatre was apparently built especially for the show… and wide variety of scenes, props, and lighting are worth the price of admission on their own. The show weaves an artistic rendition of Hawaii’s history into a blend of modern dance and hula, with excellent acrobatic displays as well.
All of the music is performed live, everything from a quartet of drummers to solo slack-key guitar. They definitely fuel the dancers, the story, and the audience. The performers and choreography are incredible, and its obvious that the dancers take a lot of pride in the performance.
Front Street in Lahaina is a great setting for the Maui Theatre. It’s almost a show in and of itself. Shops, galleries, restaurants, all along the ocean in West Maui… it’s definitely a ’scene’ (everything’s a scene when you live on Kauai). I got inspired to look at Lahaina real estate, just to see what all the buzz is about… it’s an interesting market, clearly a sought-after part of Hawaii. There’s a saying on Maui: “Maui no ka oi”.
Posted by Matt Beall, PB on January 9th, 2010 |
Tags: Maui, News, Sales Stats
Maui’s real estate market saw a relatively significant boost in December… compared to the December before. More than twice as many homes and condos sold on Maui this past December as did in December of 2008. And, since Maui is the largest “neighbor” island market, the numbers aren’t quite as simplistic as the same stats might be on other islands. (The Island of Lanai, for example, had only one sale in December. So, if two sell next December, that will a 100% increase!). Ninety single family homes and 89 condos sold in all of Maui County this past December, compared to 55 homes and 38 condos in December of 2008.
Of course, Maui’s real estate market isn’t the only thing that’s changing on the Valley Isle. Maui Land & Pineapple announced in November that it was getting out of the pineapple business, and though some jobs were lost, many of their former employees were hired by the company who has taken over the pineapple operation and assets, Haliimaile Pineapple.
And, a longtime Maui icon, the Hotel Hana Maui, is apparently being purchased by a mainland firm.
Of course, there’s more… Hawaii Life is currently in negotiations for an office space on Maui, and we’re organizing a team of Realtors who are among the most successful and influential professionals on Maui, and in Hawaii. We’re thrilled, and we’ll keep you posted. Change is definitely in the air for Maui real estate.
Posted by Matt Beall, PB on December 30th, 2009 |
Tags: Agents, Beachfront, Big Island, For Sale, Hawaii, Honolulu, Kauai, Lanai, Life, Maui, Molokai, Oahu, Puako, REO
Another Hawaii Life Core Value
Let’s face it…. this is really Number One, and it always will be. At the end of the day (or year), we’re extremely grateful for the incredible quality of life that Hawaii provides.
2. Buyer and Sellers “Get It”
We knew the real estate industry was changing, and that real estate marketing had to change as well… The brand promises of the past aren’t delivering. Fortunately, our clients and customers agree with us. In 2009, over 250 people trusted us with their real estate business. Thousands of people have Hawaii Life accounts, and thousands of people visit www.hawaiilife.com everyday. We closed our first calendar year with over $50 million in real estate sales, a feat that would have been impressive in the hottest of markets for a brand-new company.
3. Our Agency Policy Works
Our commitment to agency has yielded powerful results. Over 150 sellers have trusted us to list their Hawaii properties for sale, and in 2009, Hawaii Life sellers netted (a median of) 93% of their List Price, while Buyers who hire Hawaii Life as their Exclusive Agent enjoy a significantly higher margin, and immediate access to the market’s new inventory (and often, even a ‘heads-up’ of what’s coming).
We went through two website launches this year… with multiple revisions, innovations and new features that have won us awards, and garnered the attention of some of the real estate industry’s thought-leaders. We couldn’t have done it without the hard work and commitment of our ‘chefs’ in the kitchen: Yacine Merzouk, our lead programmer; Justin Britt, our Head Web Head; Winston Welborn, our Creative Director; and Brad Haeger, our Marketing Researcher.
Our Big Island team has taken Hawaii Life’s business model and injected it with “Solid Representation” rocket-fuel. We can’t say enough about how proud we are of Katie Minkus, BIC and her team of superstars. They are Hawaii Life’s top selling and top listing agents, and they’ve accomplished incredible success all since closing their first transaction in April of 2009. Incredible.
6. Hanalei North Shore Properties
In the fall of 2009, Hawaii Life was honored to be chosen by Roberta Haas and her team of Realtors from Hanalei North Shore Properties to organize a merger that immediately made Hawaii Life on Kauai’s top listing brokerages. The power and influence of having Roberta Haas and her team working with Hawaii Life is incredible, and only just begun.
7. Unified, Statewide
Also in the fall, Hawaii Life officially became a Statewide brokerage, with Realtors in every County in Hawaii. With Tobi Fisher as the Director of Sales on Maui, and David Buck as our Broker for the island of Oahu… Hawaii Life is poised to express our business model in the largest markets in the State. We held our first Annual Brokers’ Summit at the Outrigger Canoe Club in Waikiki… where we discussed and created Hawaii Life’s Core Values.
8. More Brokers (than Salespeople)
Earning a Hawaii Real Estate Broker’s license is no easy feat. It requires a minimum of 3 years of full time real estate experience as a salesperson, and rigorous licensing course and State exam. At Hawaii Life, we have a unique policy where we pay for our agents education towards Realtor designations, including their courses and exam to become a licensed Real Estate Broker in the State of Hawaii. We believe that brokers make better agents, plain and simple. While we grew to 43 Realtors in 2009, we’re honored to announce that 4 of our agents have earned their Brokers license under our guidance: Lucy Clark, RB; Kelly Condon, RB, David Buck, RB, and Miriam Perlmutter, RB. As a result of their hard work… Hawaii Life now has a higher Broker to Agent ratio than any comparable firm in Hawaii (17 Brokers & 26 Salespeople).
9. Bank-Owned Inventory, Hawaii REO Listings
As a company, we’re honored to have caught the attention of local and national asset managers who recognize the power and scope of our marketing, and have hired us to sell their bank-owned real estate. We’re not particularly thrilled about rampant foreclosures in Hawaii, but we do recognize that REO listings are often well-priced, and represent excellent opportunities for buyers who are entering the market, and who are prepared and qualified to give these homes and neighborhoods the love and care that they deserve.
10. Luxury Hawaii Real Estate Listings
We’ve moved into the Luxury Listing market. And we’re thrilled about it. Hidden Place, Anini Vista, 180 degrees, Pueo Place are some examples… and there are more to come. Roberta Haas and her team have just listed a home in Ha’ena on Kauai for $8.7m, and Bobby Galchutt and I have to two homes on Kalihiwai Road on Kauai’s north shore starting at $6.9m.
So…. here’s to 2009!
Posted by Matt Beall, PB on December 9th, 2009 |
Tags: Big Island, First Time Buyers, For Sale, Hawaii, Honolulu, Kauai, Lanai, Maui, Molokai, News, Oahu
Biz Week ran an interesting article yesterday:
The points the author makes have to do with historically low interest rates and the already crippled home prices. These are accurate and worthwhile considerations, but it’s also worth noting that the real estate markets will eventually adjust as interest rates rise. On the neighbor islands, we’re seeing markets where nearly 50% or more of the transactions are cash sales. We know there a lot of buyers with access to cash who are cleverly waiting for the right price points.
The relationship between property values and interest rates often receives too little attention. In fact, we could probably draw a fairly convincing thesis that too much attention on property values (and the assumption that they’ll always increase) and not enough attention on interest rates (and terms) was the recipe for the financial disaster that we’re experiencing today.
The See Saw of Interest Rates and Property Values
The simple reality is that if interest rates go up, property values will go down. For the great majority of the real estate market, home-buying power is essentially the ability to qualify for a mortgage. The credit market is constricting, and qualifying for a mortgage has only become more challenging over the last few years. The lack of available credit has already put pressure on the market (if you don’t believe that, try to sell vacant land in Hawaii right now).
If interest rates rise, then the monthly payments on the mortgage will rise, and the buyers simply won’t be able to purchase the property unless the price is lowered. Inevitably, this will create extreme downward pressure on real estate values nationwide. The only way to ease that pressure would be to open up the credit markets… but in light of recent events, that’s not too likely. So, for now, maybe we are Stupid or Broke (or both).
Posted by Matt Beall, PB on December 3rd, 2009 |
Tags: For Sale, Foreclosures, REO, Sales Stats, Selling
Waves Come in Sets
Hawaii’s real estate market is currently in the middle of a big swell: Foreclosures and REOs. Surfers know that swells send waves in sets. We may have punched through the first two big waves of Hawaii’s real estate market woes (speculators have left the market, and the barrage of subprime mortgage defaults), but there are more waves to come:
Hawaii foreclosures were up 134% in October. We’re still seeing a large number of homeowner’s whose mortgages are higher than their properties current market value. Negative Equity, as its often called, leads to mortgage default and then the inevitable listing of that property for sale as an REO (‘Real Estate Owned) by the foreclosing lender.
Moody’s Economy has been quoted as saying that currently 15 million U.S. homeowners have negative equity, and that number is forecast to reach as high as 25 million by 2011. Mark Zandi, Moody’s Chief Economist, was quoted yesterday saying that “Foreclosure Sales will increase, and home values will resume their decline by early 2010…”
The next wave is the resetting of the Pay Option ARM loans that largely were originated between 2004 and 2007 and were for a 5-year term. The chart to the right shows the dollar volume of the loans that are set to reset in the coming years. Compared to the Subprime meltdown (the first wave of the set), these Option ARM and Alt-A loans that are scheduled to reset through 2011 are occurring in a real estate market that has already been subjected to declining values. A large number of these mortgages are expected to default, thus adding to the growing number of foreclosures and REO inventory.
Surfers will often whistle loudly or yell “Outside!” to alert other surfers of a set coming. We’re providing this information in that context. We want our clients to be aware of the impact that these events are causing in Hawaii’s real estate market. We don’t want our sellers to get “caught inside”, and we want buyers to be aware of the opportunities that Bank REOs represent. As Hawaii REO Agents, we’re prepared for the waves of inventory.
Posted by Matt Beall, PB on November 30th, 2009 |
Tags: Agents, Big Island, Puako
Hawaii Life is announcing its recent partnership with Pattie Freeman and Hawaii Vacation Rentals at Puako Beach on the Big Island’s Kohala Coast. Pattie Freeman (aka “Puako Pattie”) has been in vacation rental management for decades on the Big Island, and manages some of the island’s finest vacation rental inventory. She has built a client-base over the years who have become extended ohana. Judging just by the sheer number of visitors stopping by the office in Puako to ‘talk-story’ with Puako Pattie (not to mention the lavish gifts), it’s obvious that her clients and homeowners absolutely adore her. More »
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