Aug 06
Update on Kauai’s real estate market.
General No Comments »Update on Kauai’s real estate market.
Link to Quote in the Honolulu Star Bulletin
http://starbulletin.com/2008/08/06/business/story03.html#full
May 21
Open Houses Don’t Sell Houses
General 1 Comment »Over the last 20+ years I’ve held my share of “open houses,” although relatively few in the last several years…and those only at the seller’s request. It has always been my experience that “Open Houses” don’t sell houses. I’ve never sold the house or condo that I’ve held an “Open House” in. Today, I came across an article in the Chicago Tribune that supports my long held belief. I don’t normally read the Chicago Tribune, but I found the article while using a search engine researching certain “key-words.” I’ve included that article below as it might be good information for those of you that have certain expectations of your real estate agent.
Door is closing on open houses
LEW SICHELMAN
May 18, 2008
WASHINGTON—Home sellers shouldn’t be upset if their agents don’t want to hold weekend open houses. After all, they usually don’t work.
Some sellers view “opens” as a right. If their agents balk at sitting in the living room for four or five hours on a Sunday afternoon waiting for prospects, they feel cheated.
Others see it as a necessary evil. Though they’ll have to make the beds, clean the kitchen and get out, lock, stock and family pet, many sellers believe it is imperative that agents allow anyone and everyone to traipse through.
But according to the latest profile by the National Association of Realtors, only 7 percent of buyers visited open houses as a first step in their hunt. Most now start on the Internet.
That’s not to say opens don’t work. They do help turn up new clients for your agent in the form of potential sellers. They also produce potential buyers of other houses.
But as a selling tool? Not hardly, according to NAR.
Of course, that’s not always the case. In the last two years, Carrie Georgitsis of RE/MAX Signature in Chicago, has sold maybe eight homes to buyers who saw it at an open house.
The third house that Kris Coutant of Balfour Realty in Glens Falls, N.Y., sold was at an open. “I had never met the buyer previously,” she recalls. “She walked in, decided it was exactly what she wanted, and we wrote the contract right there.”
For the most part, though, agents, especially experienced ones, prefer not to hold opens unless their clients insist. And even then, they’re more likely to persuade the rookies in their offices to baby-sit the house.
Robert King of Charles Rutenberg Realtors in St. Petersburg, Fla., is one of the handful of realty pros who sees open houses as a good way to stand out, if only because they are so out of favor.
Of the hundreds of open houses Mitzi Romiti of Jobin Realty has held over the years, the Centreville, Va., agent says she’s never sold one that way. And Jim Cummings of Avalar Real Estate in Austin, Texas, recalls selling only one place to someone who came to the open house—a long, long time ago.
“My time is better spent developing and implementing [a] marketing [plan],” says Cummings, a 20-year real-estate veteran who hasn’t held an open the last dozen years or so.
Even in this slow market, opens just don’t seem to work very well.
When houses were selling fast, the routine was to list a home Thursday, hold it open Sunday and collect multiple offers by Tuesday. Buyers had to spend their weekends visiting open houses so they didn’t miss new listings. And they knew the house wouldn’t be around the next weekend.
Now, though, there is no sense of urgency, says Don Fabrizio-Garcia of Keller William CT Realty in Danbury, Conn. “There is no need for buyers to see a home on our timetable,” he says. “They can view homes with their agent on their own schedule.”
If an open house draws any visitors, they are far more likely to be tire-kickers as opposed to serious buyers. Mary Suseland of Cressy & Everett Real Estate in Three Rivers, Mich., says folks in her area have better things to do than visit houses.
When open houses do draw people, says Debra Cochran of 1st Choice Better Homes & Land in Fredericksburg, Va., it is more likely to be someone looking for decorating tips. And Sandra Newman of Keller Williams Golden Star Realty in Paw Paw, Mich., considers an open house a success if someone shows up.
“Even if they don’t care for it, they will tell someone else,” she says. “It is free advertising.”
Then there’s the feedback aspect. Lookers will tell your agent what they don’t like about the place. If you get similar reactions from other buyers, you’ll know what needs to be addressed.
Still, if you are going to insist that your agent hold an open house, you might be better served by persuading him to schedule it during the week so other agents can preview it. Then, if your house fits what one of their clients is looking for, the agent can bring that shopper back for a private showing.
Write to Lew Sichelman c/o Chicago Tribune, Real Estate, 435 N. Michigan Ave., 4th floor, Chicago IL 60611. Or e-mail him at realestate@tribune.com. Answers will be supplied only through the newspaper.
Copyright © 2008, Chicago Tribune
www.chicagotribune.com/business/chi-re-sichel-open-house-0518may18,0,7845023.story
chicagotribune.com
United Feature Syndicate
________________________________________
________________________________________
Phil Fudge
Principal Broker, ABR, e-PRO
President – Kauai Board of Realtors 2008
Kauai Landmark Realty
landmark@hisemail.net
(808) 822-3100
(800) 480-0922
www.soldonkauai.com
www.kauailandmark.com
www.kauai-realestate.net
www.kauaihomesearcher.com
http://landmark.point2agent.com
Apr 23
Update on Kauai’s real estate market
General No Comments »Update on Kauai’s real estate market.
Link to Quote in the Honolulu Star Bulletin
http://starbulletin.com/2008/04/08/business/story03.html
Feb 01
Inquiring minds want to know about the real estate market on Kauai.
General 1 Comment »The first thing I do each morning is review the “Listings Update” on our MLS database to see what’s new on the market, price changes and what’s going into escrow. Over a period of time this gives me an indication as to where the real estate market is trending. Based on these MLS factors and other indicators, I expect our market to continue to trend downwards until prices point back to the 2004 levels. Hawaii is more sensitive to some factors such as price of oil and tourism, yet somewhat isolated from others because we are becoming more of a global market. Also, our foreclosure rates will probably be less than the mainland because we had fewer of those sub-prime mortgages loans. However, for every forecaster with a pessimistic outlook there are equal numbers with a positive spin.
In general, because our real estate investor market is driven by west coast buyers and sellers, so if you are living in California you may be able to gauge the trends here before they happen.
Oct 31
Coconut Coast Condos – Waipouli Beach Resort
General No Comments »
Waipouli Beach Resort
Indulge your senses at this sanctuary of relaxation on the scenic eastern shore of Kauai’s Coconut Coast. Outrigger Waipouli Beach Resort & Spa is an all-new resort condominium designed with refinement and distinction with a fantasy pool of lava rock and cascading waterfalls, a pristine beachfront to gaze upon a glowing sunrise.
One-bedroom and two-bedroom accommodations are exquisitely accented with warm Indonesian woods and cool Peruvian tile. Each offers a superbly appointed kitchen with a Sub-Zero refrigerator, Wolf convection oven, and sleek granite counters.
The resort’s heated salt-water river pool meanders over two acres with flumed water slides and three sand-bottom whirlpool spas. Landscaped with walking paths invite casual strolls to the sandy shore. The Aveda Lifestyle Salon & Spa will pamper guests with nurturing body care and restorative massage.
The surrounding community of Kapaa offers small-town charm and expected conveniences, including Kauai Village and Coconut MarketPlace. Nearby Wailua Golf Course, the area’s popular public links, is a traditional favorite of visitors and residents. Experience the beauty of Outrigger Waipouli Beach Resort & Spa amidst the splendor of the lovely Garden Isle.
Phil Fudge
Principal Broker
Kauai Landmark Realty
(800) 480-0922
(808) 822-3100
pfudge@hisemail.net
www.kauai-realestate.net
Oct 29
Coconut Coast Condos – Pono Kai
General No Comments »
Pono Kai Resort is located on the island of Kauai in the quaint town of Kapaa, with over 13 tropical acres, this Kauai oceanfront favorite is spacious and provides ample room for everyone. It has a great family atmosphere with many daily activities and complimentary equipment for all.
Perfect sunsets, unspoiled tropical beaches cascading mountains are some of the highlights that make Kauai unique. Surrounded by swaying palms, you will find your own Hawaiian Paradise at the Pono Kai Resort.
Facing a mile-long beach and readily accessible to numerous shopping and dining opportunities along East Kauai’s Royal Coconut Coast, Pono Kai Resort offers a variety of recreational opportunities in addition to the beach.
Exceptionally well-maintained with thoughtful nuances and amenities like lighted tennis and shuffleboard courts, a lighted croquet lawn, and lighted barbecue areas, Pono Kai accommodates both active guests and those seeking rest and relaxation.
Pono Kai offers one, two and three bedroom condos for sale in an affordable price range.
For more information on sales possibilities contact:
Phil Fudge, R
Kauai Landmark Realty
(800) 480-0922
(808) 822-3100
pfudge@hisemail.net
www.KauaiLandmark.com
www.SoldOnKauai.com
www.Kauai-RealEstate.net
Sep 19
Buyers and travelers are becoming more amenity crazy than ever
General No Comments »Buyers and travelers are becoming more amenity crazy than ever.
Here is a quick list of amenities buyers and travelers are currently cuckoo over:
WiFi Access- Vacation property owners should invest in an inexpensive wireless router that will provide guests with wireless Internet access. This is #1 on modern traveler’s list of must haves.
If you are trying to attract visitors to a neighborhood, make a list of local restaurants, cafes, coffee shops, and bookstores that have free WiFi.
Plenty of Power! – Let’s face it, we’re a country of gadget crazed Americans. If you are serious about making an upgrade that is sure to please buyers, I recommend that you spend a few hundred dollars to have an electrician come in and add additional electrical outlets in key areas of the house.
Same goes for vacation rental owers. Make sure your visitors have enough juice to plug in their cell phone, laptop, Blackberry, portable DVD player, hot rollers, and MP3 player.
Shopping! – Don’t forget nearby shopping, grocery stores, and unique boutiques. If your property is a condo or a resort and has onsite shopping, mention it!
Health Services- With Baby Boomers making up a large segment of travelers and buyers in Hawaii, health services are of interest. Be sure to mention hospitals, gyms, and other fitness related amenities on the property or close by.
Parks, Gardens, Beaches- Not every property is oceanfront or has an ocean view, but don’t discount the value of quality parks and gardens as a major selling factor.
Aloha for now,
Phil Fudge
Principal Broker, ABR, e-PRO
Kauai Landmark Realty
landmark@hisemail.net
(808) 822-3100
(800) 480-0922
www.kauai-realestate.net
www.kauailandmark.com
www.soldonkauai.com
http://landmark.point2agent.com
http://realtytimes.com/c/PhilFudge
Aug 20
Marketing and the MLS
General No Comments »If your property is listed on the MLS you are already getting the best exposure available.
Even if another agent says they will market the unit to a broader audience, it won’t sell any faster. Price is the main motivating factor. If listed on the MLS every agent is aware of the property as well as all other properties that are listed. A property will sell if priced appropriately for the market. All agents representing buyers have a fiduciary responsibility to make them aware of all properties available within their range.
No one buys in a vacuume. All buyers want to know all propeties that are available within their range and the only source with this complete information is the MLS.
Jul 24
Real Estate Reality TV
General 1 Comment »Tired of true crime? Sick of American Idol? Try on one of these Real Estate Reality TV shows from HGTV. You might turn your TV time into cold hard cash when it comes down to knowing how to buy and sell when the time is right for you.
Secrets That Sell
Sundays at 11:00 a.m. ET/PT, beginning May 6
Real estate experts and mother/daughter duo Donna and Shannon Freeman offer a no-holds-barred, insiders’ view on homes that need some help to sell. The pair tours the house with the homeowner to identify why it hasn’t sold. After the assessment, they offer practical solutions to problems such as structural issues, design flaws and marketing mistakes.
Get It Sold
Sundays at 11:30 a.m. ET/PT, beginning May 6
In this timely series, designer and home staging expert Sabrina Soto shows frustrated and financially- stressed sellers that with a little elbow grease, a few clever, yet inexpensive, ideas, and simple do-it-yourself fixes, they can turn a home into a showplace. A real estate agent also offers strategic pricing advice, while viewers get a first-hand look at other homes for sale at the same price in the same neighborhood. Once the makeover is complete, an open house is the perfect way to showcase the dramatic “before and after.”
Bought and Sold
Sundays at 10:00 pm ET/PT
In this weekly series, viewers meet a competitive, calculating and colorful cast of real estate brokers who know how to buy and sell homes. The weekly half-hour docusoap focuses on a mid-size office of real estate agents and reveals the drama behind the sales, the inter-office politics and the lengths the brokers will go to seal a deal.
SPECIALS
20 Ways to Add Value to Your Home
Sunday, May 6 at 9 p.m. ET/PT
It’s a countdown show with a mission: entertain viewers while giving the hottest advice on how to maximize the biggest investment a homeowner can make. This compelling special highlights common remodeling projects; a few surprising trends and debunks myths about home improvement.
You Should Live Here
Sunday, May 13 at 9 p.m. ET/PT
If you could live anywhere in the country, where would it be? This highly entertaining and informative new special can help viewers find their ideal place to live in America by highlighting where the most attractive people live (San Diego); which place in America is the most friendly (Nashville); and even which city is the most entrepreneurial (Phoenix). You Should Live Here! also highlights the interesting “hooks” of America’s favorite cities, including the most dog-friendly (Chicago); best place to be vegetarian (San Francisco); best city to be single (Denver-Boulder); the most livable city (Nashville) and much more.
Designed to Sell’s Top 35 Selling Secrets (wt)
Sunday, May 20 at 9 p.m. ET/PT
This one-hour countdown special gives viewers 35 great ideas to help boost their bottom line and help them get the most out of selling their home. The Designed to Sell experts provide their picks for the top secrets and tell viewers how to get top dollar from the sale of a home. Viewers also will benefit from tips that cover topics such as real estate savvy, design know-how and handyman secrets.
What’s With That Really Expensive House?
Sunday, May 27 at 9 p.m. ET/PT
What’s With That Really Expensive House? (wt) is a voyeuristic special with a humorous edge. As in the series What’s With That House?, Host George Gray takes the viewers behind the closed doors of the most talked about houses in the neighborhood. Not only do viewers get to tour the unique interiors, but they also get to meet the interesting characters who live there. In addition, Gray takes this special one step further by checking out $10-$40 million homes and asking the tough questions like “Does anyone really need 14 bathrooms?”
About HGTV
HGTV, America’s leader in home and lifestyle programming, is distributed to more than 91 million U.S. households and is one of cable’s top-rated networks. HGTV’s website, http://www.HGTV.com http://www.hgtv.com/> , is the nation’s leading online home-and-garden destination that attracts an average of 5.5 million unique visitors per month. HGTV owns 33 percent of HGTV Canada and provides much of the Canadian network’s daily programming. The network’s branded programming also can be seen in 127 territories across all seven continents and its selected programming is available to service men and women on board Navy ships and through American Forces Radio Television Service (AFRTS) which services more than 1,000 outlets in over 175 countries. Headquartered in Knoxville, Tenn., with offices in Atlanta, Chicago, Dallas, Detroit, Los Angeles, Nashville and New York, HGTV is wholly owned by The E.W. Scripps Company (NYSE:SSP), which also operates Food Network ( http://www.foodnetwork.com), DIY Network (http://www.diynetwork.com), Fine Living TV Network (http://www.fineliving.com), and Great American Country (http://www.gactv.com).
Jul 18
Buying Hawaii Property Sight Unseen
General No Comments »The pros and cons of buying Hawaii real estate sight unseen. With the Internet now playing a large roll in how investors purchase property, the process of buying sight unseen, and what questions buyers should ask before they sign on the dotted line have never been more important.
Are there certain contingencies that you would recommend for sight unseen buyers?
Here are links to a few articles to psyche your interest:
Buying a Second Home Without a First Look
https://www.azcentral.com/my/zage.php?referer=http://www.azcentral.com/home/hb101/articles/0806buyingunseen0806.html
Fast Worker- Owner Purchases Property Sight Unseen
http://www.news.com.au/couriermail/story/0,,21275004-5003418,00.html
The Blind Date of Real Estate
http://www.iht.com/articles/2005/10/27/news/reblind.php