Honolulu, Hawaii Real Estate MLS Hotsheet 8/21-8/22/12 8a & new development potential?

Wednesday's hotsheet.

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http://instagram.com/p/Oo62-CFxvS/
Manoa lot blog 8/21/12

Yesterday, I posted about a friend's vacant lot in Manoa that may be available for purchase. I drove by this morning to take a closer look at it. If you drive up and down Manoa Road, you have probably noticed an area in the middle of the valley that had some large trees trimmed recently. That looks like the area that the lot is near. I have not seen the survey of the lot so I don't know what part of that hill is part of the lot. It does look like the elevation of the lot could give it a nice view out of Manoa Valley, possibly a nice Honolulu City skyline view or maybe even some ocean? To the left is a photo that I took of the driveway leading up the the area where the existing structure is.

Do you know someone that may want to build a new home in Manoa? This could be a nice spot for it.

Honolulu Magazine Blog
"Book em Danno..."

While reading the news today, I stumbled upon Honolulu Magazine Real Estate Blog's post by Melissa Chang. It looks like an interested potential buyer of the property that the current Hawaii 5-0 film crew uses as a filming studio, Marshall Hung, may plan to re-purpose the iconic building/area into condominium units. The blog says that Hung would be planning to build condos on the South Street side of the lot while preserving the iconic building. I wonder if the condominium units in mind will be affordable residential developments like some of Hung's past projects and I wonder if any of the iconic building would become residential? Would it be cool to live in this iconic building? Even if it remains commercial or a mixed use type of building, I think it would be an interesting place to have your business also. I am looking forward to learning more about this potential development!

Submit a request for a customized report with the specifications you would like to see at http://fb.me/RickNakamaR/. The MLS links in this email or blog post expire 30 days from the date of report.

Summaries of Residential Resale Statistics and Local Market Update Reports: http://nakama-mlshotsheets.blogspot.com/search/label/statistics/.

The Honolulu Board of Realtors Sunday Open House Guide: http://www.hicentral.com/images/Documents/HBROpenHouseReport.pdf (Updates every Friday by 3pm).

Rick Nakama (R GRI) 808-382-6761 East Oahu Realty, Inc.

Information is believed reliable, but is not guaranteed.

Approximately 13,000 sq ft of Vacant Land in Manoa may be available

A friend has asked me to keep an eye and ear out for any buyers that may have interest in purchasing vacant land in Manoa. The tax records say it has approximately 13,353 square feet and the area is zoned R-7.5 Residential. Do you know anyone interested in developing this lot?

3338 Pinao Street Tax Record Description on 8/21/12
Presented by: Rick Nakama, Realtor

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Honolulu, Hawaii Real Estate MLS Hotsheet 6/1-6/2/12 830a; New Activity in St Louis Heights

http://nakama-mlshotsheets.blogspot.com/2012/04/honolulu-hawaii-real-estate-mls_21.html
A previous post about Saint Louis Heights.

Here is Saturday's hotsheet.

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On this morning's hotsheet, there is a new listing on Saint Louis Drive. 1538 St Louis Drive (ML #1206062) is listed by CBPP and is having a special "preview open house for neighbors" today between 11a-2p. I am an neighbor and I plan to check it out. I have happy this is being done today so I don't have to make special arrangements to see it or schedule to look at it during a busy Sunday open house day.

On a side note, I am rather disappointed that I was not able to look at 1741 Bertram Street (ML #1205949) listed by Island, Realtors. I requested to see it, but it requires the listing agent to be present and a showing was not able to be accommodated. Anyway, as I suspected, it was a good listing because they had enough offers to work with yesterday and the property is now in "Active Continue to Show" status or in escrow. This house was especially interesting to me because it is right up the street from my house (I could walk there in 2 minutes), but yet I could not even get permission to walk on the property to see it. In this case, an offer probably should have been prepared without bothering to see it because it is listed as "needs major repair". The funny thing about this is that the house we currently live in was listed as a "tear down" and purchased in 1979. I admit it is a bit tilted, but we are still happily living in the home rather comfortably, a few decades later.

Submit a request for a customized report with the specifications you would like to see at http://fb.me/RickNakamaR/. The MLS links in this email or blog post expire 30 days from the date of report.

Summaries of Residential Resale Statistics and Local Market Update Reports: http://nakama-mlshotsheets.blogspot.com/search/label/statistics/.

The Honolulu Board of Realtors Sunday Open House Guide: http://www.hicentral.com/images/Documents/HBROpenHouseReport.pdf (Updates every Friday by 3pm)

Rick Nakama (R GRI) 808-382-6761 East Oahu Realty, Inc.

Information is believed reliable, but is not guaranteed.

Honolulu, Hawaii Real Estate MLS Hotsheet 1/20-1/21/12 10a

Here is Saturday morning's hotsheet.

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On the Single Family Home closings, you will see a Pauoa Valley "fixer-upper" home has sold. I was able to preview and show this home to a couple of different clients before it went publicly on the market, but they both passed on it. I have been waiting to see what it would sell for because I knew this would go quickly even though it needed quite a bit of work to make it a comfortable home. It closed for $460,000 and was listed for $448,000 by CBPP.


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Request a customized report with the specifications you would like to see. http://fb.me/RickNakamaR
Rick Nakama (R GRI) 808-382-6761 East Oahu Realty, Inc.



Information is believed reliable, but is not guaranteed.

Honolulu, Hawaii Real Estate MLS Hotsheet 8/3-8/5/11 1p

Here is the Aloha Friday hotsheet.  It looks like I also forgot to publish yesterday's hotsheet at my Facebook Page and on @RickNakamaNews so I've included a link to that post below todays hotsheet link.

On this hotsheet, I see a single family home listed that needs repair.  It could be a possiblity for the FHA 203(k) financing. 

Also down on the condo sales is another Ala Moana Hotel unit that I closed on. 

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       Customer Short Page 8/3-8/4 Hotsheet Blog Post

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Don't forget, if you are a Realtor that has an open house this Sunday and would like me to try to bring the writer for the Japanese publication by, let me know about it.  If you are a consumer, what do you think are important things the writer should point out in his coverage of "Open Houses".

Have a nice weekend!


For a customized report similar to this, e-mail me a request with the specifications you would like to see.
www.RickNakama.com Rick Nakama(R GRI) 808-382-6761 East Oahu Realty, Inc.

**Disclaimer** This communication is provided to you for informational purposes only and should not be relied upon by you. East Oahu Realty, Inc. is not a mortgage lender and so you should contact a reputable mortgage lender directly to learn more about its mortgage products and your eligibility for such products.


Information is believed reliable, but is not guaranteed.

A few FHA 203(k) Rehabilitation Financing Possibilities. (Fair/Needs Repair Condition)

Yesterday I attended a workshop that helped me understand a little more about how the FHA 203(k) financing option that is offered by HUD works.  You can read more about that in yesterday's posts about FHA 203(k).  Basically, it is a HUD loan program that would provide the capability of financing purchase and the repairs or improvements that you need to do to consider living in a home.  It certainly isn't for everyone, but I know there are a lot of good fixer upper listings out there and a lot of people that are interested in purchasing fixer uppers.

I ran a search for homes that were described as "Fair" or "Needs Major Repair".  I picked out a few in the 96816 area.  Maybe a buyer would consider purchasing one of these listings if they are able to use the FHA 203(k) program.  Click the link below for a few examples of possible listings.

A few Fair/Needs Major Repair Listings. (Link expires in 30 days from post.)

**Disclaimer** This communication is provided to you for informational purposes only and should not be relied upon by you. East Oahu Realty, Inc. is not a mortgage lender and so you should contact a reputable mortgage lender directly to learn more about its mortgage products and your eligibility for such products.

FHA 203(k) - Financing Option Workshop for Homes Requiring Rehabilitation.

This morning I attended a workshop that had an overflow waiting list. It was about FHA 203(k) financing. I have not heard of this financing option until I saw the invitation to the event a few weeks ago so I immediately registered for it. I am glad I did because it was filled by the next morning and a 2nd session was even opened up and filled right after that.

The workshop was sponsored by First American Title and presented by Patrick Garcia of Homestreet Bank. Patrick announced during the workshop that he will be holding an FHA 203(k) workshop for people interested in buying property using this type of financing.

What type of financing is FHA 203(k)? Briefly stated, it is a loan program offered by HUD (U.S. Department of Housing and Urban Development) that would work for qualifying purchases of "fixer-upper" homes. We all know there are a lot of those around here in Honolulu.

Rehab a Home w/HUD's 203(k) [HUD Information Page]

The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer's credit approved. These lenders fund the mortgage loans which the Department insures. HUD does not make direct loans to help people buy homes. [See all.]

A few basic requirements for this type of rehabilitation financing from HUD are:

• It is for owner occupied homes.
• It can be used for Single Family Homes and certain types of Town-homes.  Cannot be used with High Rise Condominiums.
• It can be used for rebuilds as long as 25% of the existing foundation is used.
• $5,000 is the minimum loan amount and 110% of the value of the home after the rehabilitation is complete is the maximum loan amount.

There are a lot of details that go along with this loan program and I am not an expert at it.  You should consult your lender if you are interested in this type of loan.  The lender needs to be an FHA approved lender to be qualified to do this type of loan.  The specific lender should also be experienced in this program so that the process can be as smooth as possible.

If you are considering the FHA 203(k) financing or some type of rehabilitation loan financing, I recommend you attend Patrick's workshop that he is planning on holding in the near future.  If you would like me to try to get you a spot in this workshop with limited seating, let me know.

Honolulu, Hawaii Real Estate MLS Hotsheet 7/13-7/14/11 830a

Here is Thursday's hotsheet. 

I'll be in a workshop this morning.  The workshop will be covering the FHA 203K program.  It is a loan program offer by HUD that can be used to rehabilitate a home.

Here is the link to more information about the FHA 203K program from the HUD.gov website.

     http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou

If you would like to know more about what the workshop covered, let me know.


Please click on the link(s) below to view property information.

       Customer Short Page


The link(s) sent with this email will expire in 30 days on 8/13/2011.

For a customized report similar to this, e-mail me a request with the specifications you would like to see.
www.RickNakama.com Rick Nakama(R GRI) 808-382-6761 East Oahu Realty, Inc.



Information is believed reliable, but is not guaranteed.

**Disclaimer** This communication is provided to you for informational purposes only and should not be relied upon by you. East Oahu Realty, Inc. is not a mortgage lender and so you should contact a reputable mortgage lender directly to learn more about its mortgage products and your eligibility for such products.