Posted by Annie Mendoza, RS on June 10th, 2010 |
Tags: Big Island, Hawaii, News, Sellers
Why list your property with Hawaii Life?
What seller doesn’t want to receive two offers within 4 days of releasing their home to market?
Waikoloa Village – great values flying off the shelves!
This Waikoloa Village home is a great example of Hawaii Life’s Smart Marketing and Solid Representation. Even in this “distressed” market, if your property is priced right and offers good value, it’s possible to sell in a much shorter time frame than might be expected. Read entire post →
Posted by Sagar Hallal, RA on April 22nd, 2010 |
Tags: Homes, Kauai, Luxury, News, Princeville, Sales Stats, Sellers, Sold
For the first time since 2008, a single family home in Princeville has closed for over 1 million dollars.
The sales price was 85% of the listed County assessed value.
This is significant, as there are 35 ( ! ) homes in Princeville currently listed for over 1 million dollars. We hope that the advent of this comparable sale leads some sellers to reassess their listing prices.
Posted by Matt Beall, PB on April 14th, 2010 |
Tags: Big Island, Buyers, First Time Buyers, Hawaii, Honolulu, Kauai, Lanai, Maui, Molokai, Oahu, Sales Stats, Sellers
Mark Twain used to say, “There are three kinds of lies: lies, damned lies, and statistics.”
Real Estate agents are an incredibly narcissistic bunch. We love to be “#1,” “top-producing,” etc. We’re experts at padding sales figures to support our cause.
Unfortunately, the favorite measure of #1 is money (sale volume). After all, that’s what matters most, right? But…if I sell a billion dollar house, does that make me the best real estate agent in my market? What about the most “productive”?
If I “represent” both the buyer and the seller in that transaction, don’t I get “credit” for $2 billion of sales? If I sell a billion dollar house, and then 10 houses for $1 million each… my “average” home sale is $100m! Boo-yah!
Don’t believe the hype.
Sales volume isn’t what matters most. For us, the standard of service is everything. We’re not organized around the money, we’re organized around the people we represent. People hire us not because we’re “top-producing,” but because we provide a higher level of service.
We’re not #1, YOU are (and that’s no lie).
Posted by David Buck, R, BIC on April 12th, 2010 |
Tags: Big Island, Diamond Head, Hawaii, Honolulu, Kauai, Lanai, Marketing, Maui, Molokai, Oahu, Sellers
Diamond Head Lookout within walking distance of Oahu home…
I just saw a new listing pop up today in Diamond Head and the main photo in MLS was a picture of the coastline. The description of the photo said it was within “walking distance”. Well, what do you define as walking distance? Read entire post →
Posted by Pam Deery, R(B) on March 30th, 2010 |
Tags: Big Island, Education, Hawaii, Honolulu, Kauai, Lanai, Maui, Molokai, Oahu, Sellers, Short Sales
Short sales are not for the inexperienced!
Unbeknownst to many listing agents and sellers, each time an “additional” offer is submitted to the bank (the seller’s lien holder), the process starts over, adding up to two months to the transaction, during which a foreclosure can actually occur! Read entire post →
Posted by Justin - Head Web Head on February 23rd, 2010 |
Tags: Agents, Big Island, Honolulu, Kauai, Maui, News, Oahu, Sellers
Source = The Notorious R.O.B., read their article on Dual Agency by clicking on the image above.
Avoiding Dual Agency
For those of you who have worked with Hawaii Life Real Estate Services before, you are probably aware of our stance on dual agency. If not, here is what we have to say on the matter (taken from our Sellers Services page):
“You’re our client, and we take that very seriously. We actively avoid representing both buyer and seller in the same transaction. We’re committed to our fiduciary responsibilities of loyalty and obedience to you, so we avoid what’s called a “Dual Agency” transaction in which we “represent” both parties. Read entire post →
Posted by Kelly Condon, R on February 14th, 2010 |
Tags: Auction, Beachfront, Deals, Estates, For Sale, Foreclosures, Hawaii, Kauai, Luxury, Ocean View, Sellers
On Monday, March 8th, a gorgeous 6,015 square foot Estate Home and Guest Home perched on 5.79 acres along Kauai’s Ocean Bluff (MLS 231773), will sell at Auction.
Even the most affluent sellers and buyers are not immune to the characteristics of today’s challenging market. Many sellers have been caught in a down market with limited liquidity, high carrying costs and may even be at risk of foreclosure. At the same time, buyers with plenty of cash in the bank are still looking for a deal, looking to take advantage of the distress in Hawaii’s luxury market. So is an auction the best way to facilitate a quick sale of a luxury ocean bluff estate home on the island of Kauai? What are the advantages and disadvantages to the Seller and the Buyer?
Kauai Ocean Bluff Luxury Estate Overlooking Paliku Point and Donkey’s Beach.
Let’s consider a current luxury estate on Kauai being sold using the auction technique. On Monday, March 8th a gorgeous 6,015 square foot Estate Home and Guest Home perched on 5.79 acres along Kauai’s Ocean Bluff (MLS 231773) will sell at Auction. This privately gated estate has stunning, panoramic Ocean Views and as well as Mountain Views and was meticulously designed by one of Hawaii’s finest architects. With high-end finishes, three bedroom suites, an office, fitness room, and an impressive kitchen not to mention its own elevator, it is easy to fall in love with the main residence, only to be further smitten upon inspection of the ocean view pool and guest home. The estate is perched above Paliku Point in the up-and-coming Kealia Kai subdivision, where a leisurely stroll brings you to secluded Donkey Beach, or a beach cruiser bicycle ride along the Kauai Coastal Path allows you to enjoy any number of beautiful beaches. It is obvious how simple it is to become wrapped up in the estate – but let’s get back to the question at hand: Is an Auction the answer? Read entire post →
Posted by Katie Minkus, R(BIC) on January 1st, 2010 |
Tags: Big Island, For Sale, Kohala Coast, Puako, Sales Stats, Sellers
2009 – what an incredible honor and privilege to lead such an amazing team of Brokers and Agents to success during a “down market…” to be one of the top ten offices in our market!! Mahalo nui loa, Lucy, Jan, Pam, Beth, Deb, Erik, Heidi, Pat. And welcome, Pattie Freeman!
Some Big Island Hawaii Life statistics for 2009: (or – why you should list your property for sale with Hawaii Life)…
Kohala "Gold" Coast Sunset
Hawaii Life has brought the buyer 50% of the time for company listings that have sold on the Big Island.
Hawaii Life Listings sell for (a median of) 91% of their List Price.
Hawaii Life Listings sell on average at 116 Days on Market, or just under four months.
173 real estate offices have listings on the West side of the Big Island (TMKs 3-5, 3-6, and 3-7)… only 8 brokerages have more listings than Hawaii Life.
For overall sales in our target market (Kailua-Kona north through Waimea and North Kohala), Hawaii Life Big Island ended the year at #9 out of 168 offices, and we only started in April. Wow!
A hui hou, 2009 and aloha, 2010!
Hau’oli makahiki hou!
Posted by Matt Beall, PB on December 3rd, 2009 |
Tags: For Sale, Foreclosures, REO, Sales Stats, Sellers
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 October 13th, 2009 |
Tags: Sellers
We study Hawaii’s real estate markets very closely. And, if we see a property that was on the market previously and didn’t sell, we’re likely to inquire with the sellers. Sometimes, we inquire because our buyer-clients may be interested in the property. And sometimes, we’d like to interview with the sellers to discuss our marketing strategy.
Hawaii’s real estate market is in a constant state of flux, with its micro-markets all around the State, and the wide variety of influences: the national economy, the local tourism industry, the influx of REO (bank-owned) foreclosures and short-sales. Most of these influences are relatively new to the real estate market, and Realtors have been forced to adapt to the new market and its new influences.
We’ve been screaming this from the hilltops of our little blog here, but it’s not just the market that’s changing, it’s the entire industry.
National Study Conducted by NAR in 2008
As real estate buyers gravitate to the internet for information, sellers and their Realtors must position their listings to be seen. The traditional methods of print ads, yard signs, networking, and direct mail are still part of the equation… but they’re no longer the most important piece of the puzzle of finding a buyer for your home.
With www.hawaiilife.com, we’ve created tools that provide our clients an incredible amount of online exposure, and let them track the number of times a prospect has viewed their listing, looked at their photos, or made an inquiry.
Granted, there a number of national real estate web sites that provide similar services, and we use them as well… but the exposure these sites provide pales in comparison to www.hawaiilife.com. We know, because we track their results on behalf of our clients.
So, a marketing strategy that relies heavily on print magazines, yard signs, and networking simply won’t yield the results that were once possible (even only a few years ago).
Our marketing is integrated, and powerful. We’re committed to sharing the success we’ve had with anyone who’s interested in selling their property in Hawaii. We’re well aware that (some) other real estate companies don’t appreciate our interviewing with their previous clients, and we’re certainly not out to upset anyone… we’re just committed to sharing what works with people who want to sell their real estate in Hawaii.
We’ve had success by quickly selling properties that were previously on the market for years.
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