If you haven't been paying attention, the Oahu real estate market continues to climb higher and higher. While most even passive observers may not be surprised at the trend, some feel that an inevitable flattening out or even market downturn may be coming in the not too distant future. Nevertheless, December's monthly report from the Honolulu Board of Realtors showed median sales prices of … [Read more...]
Case Study – Foreclosure Rescue in Kaneohe
This week we finished another project in Kaneohe, Hawaii where we rescued a homeowner from foreclosure. This single family home acquisition was particularly rewarding because we built such a strong rapport and friendship with the seller. It was a true joy from the first meeting last spring through a few days ago when we confirmed that the seller got a big check and was able to put the entire … [Read more...]
Preparing for Hawaii Real Estate in 2014
We're only 2 days away from ringing in 2014. Can you believe an entire year has once again passed us by? Tempest fugit, indeed. How did the year shape up for you? As we get ready to watch the fireworks light up the Hawaiian skies in just over 48 hours, let's take a look back over the past 12 months and where we may be going from here. Improving Your Home Value Many residents in Hawaii have taken … [Read more...]
Keeping Up with Mortgage Payments
Keeping up with mortgage payments can be one of the biggest financial responsibilities you take on, aside from keeping food on the table. In the up, down and rebound of the real estate industry over the past 10 years or so, many people have bought homes in Hawaii. And a portion of those are actually happy they did. Those homeowners who unfortunately bought when the market was high (pre-crash) … [Read more...]
Can You Help a Homeowner Friend in Need?
You know what can be the hardest thing to do? Ask someone for help. It's human nature that we rarely actually ask people for help, no matter how much we may need it. I think we all feel, at some level, that asking for help means admitting weakness. The truth is that we ALL need help at some point. Every single one of us, even here in beautiful sunny Hawaii. And if we all need help, doesn't that … [Read more...]
How to Avoid Mortgage Scams in Hawaii
It's a sad fact that of life that the more people find themselves in difficult situations, like foreclosure, the more people will inevitably try to scam or take advantage of them even further. This may be true more for real estate, housing and mortgages than for any other industry. There are plenty of stories of homeowners here in Hawaii who have been the subject of mortgage scams or other … [Read more...]
Should You Wait to Buy a Short Sale?
It's a frequently asked question in today's hot Hawaii real estate market. Most people, especially today's actively shopping homebuyers, are aware of the massive amounts of foreclosed homes in Hawaii and every other state that have been the bane of the housing market for a few years now. But should today's homebuyers be looking at short sales for their next home or should they be running for … [Read more...]
What is a BPO in a Short Sale?
If you're like many homeowners in Hawaii the past few years, you may have explored the idea of selling your house as a short sale. For the sake of discussion, a short sale is where your lender allows you sell your house for less than what you owe them (the bank takes a 'short' position on your debt). It allows you to get out from under a difficult mortgage and start fresh, while the bank avoids … [Read more...]
What Is A Short Sale? Part 2
In the previous post "What is a short sale? Part 1", we discussed some basics of short sales, like why someone would pursue one and whether it's an option for everyone (it's not). Let's continue that train of thought and address some other questions here: What's Involved in a Short Sale? One unfortunate joke about short sales is that they almost always take a LOOOOONG time to complete, … [Read more...]
What Is A Short Sale? Part 1
With the prevalence of real estate news hitting the headlines about everyday for the past five years, many people have asked "What is a short sale?" Some of you might be very familiar with term (maybe too familiar), but there are plenty of people who don't understand the concept or phrase. After all, while it may seem like short sales have been a frequent topic of real estate discussions for some … [Read more...]
