Think twice before you say REJECT!

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Your first offer is many times your best offer and shouldn’t be overlooked because it came too quickly. Sellers must remember their intention straight from the get-go, which is to SELL! Keep in mind that if an offer comes very early in the game it’s not necessarily because you’ve under priced it but because those Buyers have probably been watching the market like hawks waiting for fresh bait.

A while back we listed a super cute home in Waimea at a very good price (at that time) and within 2 days received a workable offer. Sure it was a little below my client’s bottom line (what Buyers are offering full price these days?) but it was definitely a start ~ something I encouraged them to work with instead of flat out REJECTING. The proposed Buyers had been looking for months and had finally found “the one”!

Against my advice the Sellers flat out REJECTED it in hopes that another Buyer would be knocking down their door with a better offer. Almost 3 months later to the date I am sad to report that they have had no other offers and the current market may be softer now than when we listed it. With very little activity and a slower market, they’ve done a price reduction and are now right about at the same price they earlier rejected.

A bird in hand is better than the time lost and a lower sales price later if you are too quick to say REJECTED in the beginning.

Until next time, dream BIG and set goals.

Aloha,

RE/MAX Pacific
Heidi K. Perreira ;o)
In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-987-8299

Nanny’s Coffee Cake

A few months ago it hit me like a ton of bricks – I need to do something besides real estate once in awhile. (Okay, some of us are slower on the uptake than others). I guess if you are a Buyer or Seller you’re quite happy to have me eat, sleep and drink real estate, but if you’re a husband for example, you may appreciate a change of pace occasionally (right hon?). Anyway, so I got this brainstorm and called a Realtor friend:

    “Hey Sharon, how’d you like to get together once a month with a few other lady friends and have breakfast together?” “That sounds great!”

And that’s how the Breakfast Club got started.

Only 2 of us are Realtors, we don’t talk business and we rotate to each other’s homes. We take turns hosting it as well as cooking. I really intended it to be very casual. Some of us work full-time, so I pushed the potluck thing a time or two and even threatened to just have coffee and pastries when it was my turn, but somehow, for some reason everyone else likes to do the whole sha-bang. And we all love pigging out on the delectables that turn up every month. Anyway, my turn came around this week and I got to try out an old family recipe I haven’t used in many years –Nanny’s Coffee Cake.

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Sorry, this is all that’s left!

I’m not sure if my grandmother devined the recipe herself or just found it somewhere and passed it along, but it’s a great one and very easy to make (or I wouldn’t be involved, trust me on this).

Nanny’s Coffee Cake

Ingredients:

2 Cups brown sugar
¾ Cup Crisco (you can use a no trans-fat substitute)
2 Cups flour
1½ teaspoon salt

Mix above and reserve ½ cup for topping

1 Cup sour milk (make reg. milk sour by adding 1 tsp vinegar)
1 egg
1 teaspoon vanilla
1 teaspoon baking soda

Directions:

Mix 4 items above and add to above mixture (except reserved portion).
Pour into two-nine inch cake pans (greased + floured)
Top with ½ cup chopped nuts and reserved topping from above
Bake for 30 minutes at 350 degrees

Everyone loves it, so give it a try!
Aloha, Mike

RE/MAX Pacific
In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

Mandatory Sellers Disclosure

Mandatory Seller’s Disclosure has been required by state law in Hawaii since July 1995. All sellers must disclose in writing as a part of all residential real estate transactions, any fact, defect or condition, past or present, which materially affects the value of the property. “Materially” in this case means any fact, defect or condition that if known by the Buyers may affect their decision to purchase.
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As a Buyer, be sure you receive and have an opportunity to review and approve the Seller’s Real Property Disclosure Statement as a normal contingency in the purchase contract before you are obligated to complete the transaction or risk any non-refundable monies.

That's my Tip of the Day and I'm sticking to it!
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Aloha, Mike

RE/MAX Pacific
In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

Look Before You Leap!

Don’t be afraid to take a 2nd or 3rd look. You can never be too sure. Before you commit to buying a home take the time to make sure it’s what you want. Visit the neighborhood at different times of the day so you can see what the traffic is like say on a Monday morning or Friday after work.

What goes on in the neighborhood Saturday mornings? What about barking dogs or kids in the street to all hours? These are all things which may become apparent at times other than the 15 or 20 minutes when you viewed the property with your Realtor looking for your perfect home.

What’s the saying that applies to carpentry? Measure twice, cut once. The same thing goes for the most important investment of your life. Look before you leap!

That’s my Tip of the Day and I’m sticking to it!
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Aloha, Mike

In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com

Get Out!

Get out of the kitchen if you can’t stand the heat?
Get out of the stock market, before it goes bust?
Get out of the hottub before you turn into a prune?

No, it’s none of these!
It’s GET OUT FOR ALL SHOWINGS!

Buyers will stay longer and feel more comfortable and are able to personally place themselves in the setting only if you are not there. Sellers, I cannot emphasize this enough. I know it’s hard, I’ve been a Seller too. I know the urge to hang around “in case they have any questions” (wink-wink), but don’t do it. And for gosh sakes, if you have pets, take them with you!

That’s my Tip of the Day and I’m sticking to it!
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Aloha, Mike

RE/MAX Pacific
In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

Yin & Yang of Prices -Monthly Update

What we’re talking about here is the least expensive and most expensive home on the market today. Okay you may remember I promised last month to update you each month on the 3 primary areas where I do business; Waimea, Waikoloa and Kohala (the North & South Kohala Districts of the Big Island). Loyal readers will be able to spot a trend or at least see where things are going. Today I am highlighting the least expensive home in Waikoloa contrasted with the most expensive home in Waikoloa.
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Above, the least expensive home in Waikoloa is a 3 bedroom, 2 bath home of 1,372 sf located in the Pheasant Ridge Subdivision with ocean and Kohala Mountain views priced at $425,000 new on the market just today.

And below at $865,000, is the most expensive home listed today in Waikoloa Village along with the sunset you will enjoy from this 4 bedroom, 3 bath home of almost 2,700 sf located on a hill on Pakanu Street.
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The rest of the data looks like this:

Waimea:

75 homes on the market
23 are less than or equal to $500,000
The least expensive = $400,000
The most expensive = $35,000,000

In Waikoloa:
84 homes on the market
18 are less than or equal to $500,000
The least expensive = $425,000
The most expensive = $865,000

In Kohala:
52 homes on the market
7 are less than or equal to $500,000
The least expensive = $334,000
The most expensive = $25,000,000

For more information on any of these areas or to fill in the blanks in between the least expensive and the most expensive, just call or email me!

Aloha, Mike

RE/MAX Pacific
In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

File this under – Well-Duh!

Guess what? The most frequently used standard form -for all of us, Realtors and Johnny-Q Public alike, the one used by anyone who has ever bought real estate in the State of Hawaii in modern times, has been changed! I hope you are sitting down; it’s now called the PURCHASE CONTRACT! Is that revolutionary or what?? purchase-contract-07.pdf

But kidding aside, our local real estate market has become global and the acronym DROA, (Deposit Receipt Offer & Acceptance) was confusing to nearly everyone, but especially to people outside Hawaii. The name PURCHASE CONTRACT is simple and concise.

The Standard Forms Committee of the Hawaii Association of Realtors, http://www.hawaiirealtors.com, released the form June 15, 2007. It incorporates numerous changes not just the name change, so be sure to contact your Realtor (or me in the absence of that ;o-) to make sure you understand all the ramifications of it before you jump into your next purchase.

That’s my Tip of the Day and I’m sticking to it!
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Aloha, Mike

In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

Hello Summer!

It’s official ~ summer’s here and the kids are out!
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This week winds down the last days of school for many public, private & charter schools. Be careful and extra cautious as you’re zooming around on your lunch break or just out and about taking care of business.

Our family proceeded with our end of the year “Teacher’s Mahalo” gift preparation last night ~ preparing special little gestures of thanks for my children’s teachers. No matter how old my kids get we continue to thank each of their teachers at years end. Sometimes it’s as simple as a homemade card or a bag of cookies and other times a purchased gift. Even my youngest, who ends his first year in preschool participated in prepping his teacher’s gifts and you should’ve seen the joy in his face as he passed them out and topped them off with a great big hug!

My oldest suggested that we not do it this year since she has entered middle school and now has six teachers as opposed to just one. I stopped what I was doing and saw the perfect opportunity to remind her that no matter if it’s one teacher or six, it’s the proper thing for us to do and most of all, it’s a small gesture to show our thanks and gratitude for their continued patience and guidance during each trying school year.

If you think about it our kids spend more “awake time” at school then they do at home and we as parents, grandparents and friends all know that a teacher’s job doesn’t get easier by the year, nor are they fairly compensated for the GREAT task of contributing and helping to prepare the next generation ~ our kids!

It’s always bitter sweet seeing another school year end and I’m sad to see my children leave the nest of another great teacher but we look forward to forming new relationships with their upcoming teachers and are forever grateful for the footprints left by the past ones.

Congratulations to the Class of 2007!

Until next time, dream BIG and set goals!

Aloha,
Heidi K. Perreira ;o)

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In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-987-8299
http://www.MikeSells.com

Get Yourself Pre-qualified!

I know the market is not that brisk these days (how’s that for an understatement kids?) but if you are a serious buyer, having a letter from a lender stating that you appear to have the financial ability to actually close on the property will make your offer stronger in the eyes of the Seller. And if you want to go to the absolute front of the line, take it one step further and get Pre-Approved.

That’s my Tip of the Day and I’m sticking to it!
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Aloha, Mike

In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

So Much for Good Intentions!

You may have noticed the Brokers Caravan category on this blog. Yep, I was all excited to share the best deal or the most awesome property or something exciting about last Friday’s Brokers Caravan in Hamakua, but as someone once said, “The best laid plans of mice and men oft go awry”, and that they did!

But whoa, let’s back up and explain the Brokers Caravan. It’s when all the agents go out and view new listings. Well, I said all agents, but it’s really the better agents. Those not too lazy or bored with a slow market, those willing to tour some properties they may have already seen and those willing to get off their behinds and drive around most of the morning cramming in as many properties as time allows.

I once described it to a Seller client when preparing them for the caravan on which I’d planned to showcase their home, as a herd of locust sweeping down out of the sky.

locust-in-air.jpg They don’t decimate a house the way locust may denude a field of wheat by any means, but they do move fast and they come all at once. You see, Realtors have a knack for quickly sizing up a property for its attributes and detractors. Most can sum it up very quickly as Over-priced, A great buy, Bow-Wow, or Deal of the century! We also put real meaning to the worn out “motivated seller” phrase. There’s no fooling us, we know motivated when we see it -even if it is so seldom these days. When it happens though, I’ve been known to secret myself in a closet or bathroom in the midst of the caravan and call a client right then and there. “You’d better get down here right now. This one won’t last”. And if I like a property I’ve seen on caravan I can usually sell it.

Anyway, I digress. Fate befell me that Friday and I only got to see the first 3 properties because my car died – deader than a doornail. It refused to start and left us stranded (me and my sidekick Heidi –and a defenseless passenger who joined up with us to save gas). Bob, the owner of the property where my car expired, bless his heart, had all the tools and actually knew what he was doing under the hood and finally got me started again, but too late to finish the caravan :o (

My best pick of properties before my car died is worth sharing! (and it’s the least I can do for Bob, the owner & Dennis Dacus of Realty Executives who got me back on the road).

It’s a fabulous home of almost 3,700 sf in immaculate condition on 5 gorgeous acres in Paauilo, priced at $895,000.

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I liked it, now, let’s see if I can SELL it!
Aloha, Mike

In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

Grand Prize- Tako!

I liked Heidi’s fishing story so much (Fishing ~ Local Style, see Archives, May 2007) I wanted to follow up on the Ulua Tournament. As I talked to some of the fishermen & women that fish this tournament every year I learned a lot. First of all the Ulua has many names: Jacks, Trevally, Giant Trevally, Butaguchi, Kagami, and Omilu. There is also great debate as to what size really qualifies it as an ulua. General consensus is that over 10 pounds makes it an ulua, but to some it’s got to be 15 pounds. Anything less than that makes it an Omilu and before that in the weight category it’s a Papi’o.

In Hawaii ulua is one of the most prized fish to catch because it is such a fighter. They can go to about 100 lbs, but have been found as big as 190 lbs.
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This buggah is almost bigger than the kid!

Another very cool thing about this tournament is everyone who enters walks away with a prize; fishing poles (ulua poles can cost between $700-$1000), tackle, coolers, hotels stays, fishing charters and on and on. Our office secretary’s family won the grand prize last year in the lucky draw. Her father, brother and boyfriend all entered!

Now, this grand prize takes some explaining. It was a Gyotaku print framed in Koa. Gyotaku (gyo meaning “fish” and taku meaning “rubbing” or “impression”) was discovered over a century ago by fishers in Japan. Gyotaku is a simple art created by pressing rice paper onto a fish. This particular print was of a tako, or octopus for the uninitiated.
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The print was donated by local Big Island artist and avid fisherman and diver, Naoki Hayashi who has been perfecting his technique since he was 11 years old.
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Naoki has a wide selection of original pieces and reproductions available and also creates custom Gyotaku art, http://www.gyotaku.com. He also creates custom furnishings including original artwork, lamps, and shoji screens for wide variety of interior and exterior designs, but you can see why for a fisherman or woman receiving a Naoki original fish print, this is so special!

If you are a fisherman anywhere else in the world, you are sure to get hooked (no pun intended) on Big Island fishing due to the wide variety of fish and the most beautiful setting in the world. Any maybe one day you’ll enter this tournament too!

Aloha, Mike

In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-896-1943
http://www.MikeSells.com
http://www.WaimeaPropertyBlog.com

It Fit and $o Did The Price!

The Parker Ranch Shopping Center in the heart of Waimea housing shops such as Starbucks, Foodland, Blockbuster Video, Healthway’s and specialty stores like It’s All Good, and Journey Boutique recently added an up beat and trendy girls clothing outlet called Jeans Warehouse to their variety of shops.
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Yes, many of you are probably familiar with the Jeans Warehouse outlet as they are found throughout the Hawaiian Islands (Oahu, Maui, Hawaii & Kauai) but anyone who knows Waimea knows how difficult it can be to find inexpensive clothing stores that don’t carry heavy price tags such as $200 for a pair of pants or a $100 shirt.

The first Jeans Warehouse (www.jeanswarehousehawaii.com) was opened in 1978 by founder Linda Holt who recognized a need for affordable junior clothing and has grown to be a 100% employee-owned business carrying everyday girl’s wear such as jeans, tops, shorts, skirts, lingerie and a wide variety of shoes and accessories.

I remember this being my favorite store growing up as much as it was my parents’ because of the sweet price tags. Now right on target, it has become my teenage daughters “hot pick” for her everyday wear. I’m always hesitant to browse the racks let alone enter the door without her, simply feeling way too old for their fashion, but low and behold I took a shot at it yesterday and to my surprise ~ found two outfits that I love, are trendy and most of all comfortable. Yes, I’ll admit that my eyes widened as I strolled past some of the racks adorned with itty bitty little tops, shorts and skirts that I would be afraid to wear out of the house, mostly because of my age and not being the same size I was as a teenager, but soon enough I found my comfort zone around the endless number of stylish cotton shirts in every hue you could imagine. It was like a rainbow stretching across the wall. Best thing about it is 4 tops and two bottoms cost me a nifty $68.00 (YEE-HAW)! My daughter and I enjoy shopping there and you will too.

Until next time, dream BIG and set goals.

Aloha,

Heidi K. Perreira ;o)

In Hawaii: 885-5557
Toll Free: 800-500-4895
My “Sell” Phone: 808-987-8299

http://www.MikeSells.com

http://www.WaimeaPropertyBlog.com