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...]
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...]
Working With Real Estate Agents and Brokers
There's a misguided idea out there that investors and realtors/brokers can't work together, that they're at the opposing ends of some kind of real estate spectrum. One has to profit at the expense of the other. It couldn't be further from the truth. It takes a lot of muscle to make a real estate market move, whether it's here in Hawaii or anywhere else. Investors, realtors, brokers, escrow … [Read more...]
Why You Need to Start Your Short Sale NOW
Why NOW is the Time to MOVE on Your Short Sale Is the mortgage on your Hawaii property upside down or "underwater"? If you owe more than your property is worth and you can't keep up with the payments, a short sale may be your best way out. If you haven't qualified for a loan modification and can't reinstate the loan (make up the back payments or arrears), you don't have many options if you want … [Read more...]
“I Sold My House!”
The four greatest words you sometimes hear in this business are "I sold my house." For many people affected by the crash and doldrums of the Hawaii housing market (and nationally as well, of course), selling your house isn't nearly as easy or painless as it used to be. Let's look at some of the most obvious reasons why: 1. Loss of Home Equity. Probably the most common reason today for not being … [Read more...]
Invest in Hawaii Short Sale Deals
If you're thinking of investing in Hawaii real estate, you may not find a better time than NOW to get some cheap high-equity deals out there. It's no secret that the real estate world has been turned on its head the past 5 years or so. While this has, unfortunately, caused some serious distresses for homeowners who found themselves in troublesome mortgages or facing a foreclosure, there's no … [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...]
