Safe to Say, The Market is Back!

There is no doubt in my mind that the Market is back!  With O’ahu median home price in the single family homes category up $742,000 and the median condo price is pushing $400K at $392,000.  Super low interest rates are still the norm and we still continue to have a tight inventory.  There are plenty of Buyers and not enough Sellers!  The new home market also can’t keep up with demand where developers are still running lotteries for potential Buyers.  We need more Sellers in our market!  If you have been thinking about selling your home, now is the time.

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WOW! Highest Median Price Ever!

hbr-june-2016-housing-stats

An 8.6% increase from May 2016.  The summer months are heating up activity as PCS season in full swing!  If you have been thinking about selling your home, our real estate market needs you!  There are still plenty of Buyers and these numbers prove it.  Call me today to learn about your options.

Friend or Family Members as Your Realtor

A lot of the time, I speak with people who are seeking real estate advice and they end up working with a family member or a friend because they feel obligated to work with them because of their relationship.  I don’t mind, usually.  I strongly believe the better informed people are, the better decisions they make when it comes to their real estate transactions.  I do however, become concerned for the folks who decide to work with their family member or friend and that agent is lacking in areas I believe are necessary in order to protect their client.

Here’s a quick list of items I believe an agent, besides their license, should have in their repertoire at the minimum:

Membership to the National Association of Realtors and their local board.  Ours on O’ahu is called the Honolulu Board of Realtors.  They should carry a title, Realtor or Realtor-Associate.  They should be a full-time Realtor.  Wouldn’t it be disappointing if you missed a home just because they were not available due to their full-time job outside of real estate?

At the minimum, at least one designation, either a Graduate Realtor’s Institute (GRI), or Accredited Buyer’s Representative (ABR). These designations help build an agent’s knowledge in Residential Real Estate and it strengthens their skill set.

A computer and knowledge in using applications that are provided through our membership with the local board.  Some don’t know how to use our forms program, smart card and electronic lockbox features.

At the minimum, a cell phone with texting abilities.  NOT a smartphone.  I personally believe my smartphone is the best and by far my favorite tool in my practice.  I couldn’t function properly without it!

Knowledge and understanding of our standard forms.  THIS IS A MUST!   Once I understood our standard forms, I knew then I would be able to better protect my clientele.

This is just a quick list of bare minimum items that your appointed agent should have.  So if your family member or friend don’t have any of these items on this list and it’s your first purchase or your first time putting your home on the market, interview other agents before you decide to work with them.

 

 

Just Sold!

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91-1217 Kauiki Street, Ewa Beach    $355,000 fee simple

A home is where your heart is.  This home had the biggest hearts lovingly caring for it for more than 40 years.  Although the Seller was emotional in saying goodbye, I know that a new adventure and a new “home” awaits him at his next destination!  Good luck, Choogie!

 

 

Interest Rates are Unreal

I have lenders send me daily rates.  I can’t believe how low some of these rates are!  Back in 2007, rates were considered GREAT at 6.25%, then in 2009, 5% was unheard of, then in the end of 2010, 4% was phenomenal.  Now, I see interest rates at 3.625% with 1.875 points for a 30 year fixed, and a 3.625% with .875 points for a FHA/VA loan.  Wow!  It is a great time to buy!  Homes on O’ahu are available!