Honolulu, Hawaii Real Estate MLS Hotsheet 5/6-5/7/12 9a & Link to HBR Statistics

Here is the hotsheet for Monday.

       Customer Short Page

Summary of Statistics

Earlier this morning, the Honolulu Board of Realtors released the April, 2012 Residential Resale Statistics. Here is the link to my post summarizing the statistics: Summary of Statistics.


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

Information is believed reliable, but is not guaranteed.

Honolulu Board of Realtors November 2011 Residential Resale Statistics

The Honolulu Board of Realtors released the residential resale statistics for the month of November 2011.

The median price for Single Family Homes, $580,000, is up slightly from the same time last year. The number of sales is also slightly higher at 251 sales during the month of November. The average number of days on market is down to 35 days compared to 40 days during November 2010. The inventory is also lower with 5.6 months of inventory remaining compared to 6.5 months last year.

The median price for Condominiums and Town Houses, $295,000, is slightly lower than last year. The number of sales are up to 333 units and the number of days on market is down to 42 compared to 45 days during November 2010. There are 5.5 months of remaining inventory left compared to 6.8 months in 2010.

New listings in both Single Family Homes and Condominium markets are down quite a bit. This is causing the tightening of inventory and could possibly lead to higher median sales prices in near future.

If you are curious to see how your local neighborhood's statistics are in comparison to the rest of the island, take a look at the Local Neighborhood Statistics [PDF].

Source: Honolulu Board of Realtors
November 2011 Monthly Indicators Report [PDF].
November 2011 Housing Supply Overview [PDF].

Honolulu, Hawaii Real Estate MLS Hotsheet 11/14-11/15/11 9a

Maragogype @ Beach Bum Cafe

Here is the Tuesday morning hotsheet.

       Customer Short Page

The link(s) sent with this email will expire in 30 days on 12/15/2011.

I'm working out of Downtown, Honolulu today at Beach Bum Cafe because this morning's meeting in my office is a presentation by the people who do the "Simplifying Condo Financing" seminar and I already attended the actual seminar.  The Hawaii Home Ownership Center is a very beneficial non-profit organization that can help people who want to prepare to own a home or already own a home and would like advice on how to maintain financial stability.

Simplify Condo Financing

If you would like to know more about this, I can help you get acquainted with the Hawaii Home Ownership Center or you may contact them directly.

http://www.hihomeownership.org/

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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 9/14-9/15/11 10a & a big Coffice Group.

Here is the Thursday morning hotsheet.

         Customer Short Page

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

I'm working from a coffice this morning while eating.  Check out my West Hollywood Waffle [Photo] from Yogurstory.  Quite a bunch of us are working here today... @LenaHanson, @LandsbergLaw, @TitusOfAllTime, @Melissa808, @WorldWideEd and @JKuroiwa arrived after I took this photo.

I also had a brief discussion about the recent FEDERAL TRADE COMMISSION 16 CFR Part 321 Mortgage Acts and Practices—Advertising Rule [PDF] with @LandsbergLaw.  He found it very interesting and is reading into it. You can check out his Facebook Page here: https://www.facebook.com/HawaiiLawyer.  If you are wondering why it's a problem, here is the National Association of Realtor's letter to the FTC [PDF].

Information is believed reliable, but is not guaranteed.

The Hotsheet, Open House Activity & Mortgage Rates under 4%?!

Honolulu, Hawaii Real Estate MLS Hotsheet 8/8-8/9/11 945a & Mortgage Rate under 4%?!

Here is the Tuesday morning hotsheet.


     Customer Short Page

The link(s) sent with this email will expire in 30 days on 9/8/2011.

In our office meeting this morning, I hear the feedback of the open house activity from the prior Sunday.  There seems to be amazing interest in homes that would be considered "starter homes" in town.

Also, a mortgage broker announced the mortgage rate today is around 3.8% with 2 points!

Will these rates get those starter homes and other inventory into contract this week?


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.

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. 

       Customer Short Page
       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.