Oahu Home Sales

For only $23,700,000 this beautiful estate in Kailua can be yours….……Located on the ‘best of the best’ in Kailua beachfront locations, Kaikea estate encompasses over 2 acres of magnificent property w/ 200 linear feet of prime beach frontage….…… Offered for the first time in 28 yrs, this spectacular estate of 2+ acres rests on beautiful Kailua Bch. A stunning main residence w/soaring ceilings, timeless architecture & a true feeling of the islands indoor/outdoor lifestyle is sprawled across rolling lawns where space, privacy & unsurpassed views abound. Tracy Allen of Coldwell Banker Pacific Properties is the listing agent, but I will gladly assist anyone as their Buyers Agent should they desire to buy this spectaular estate….;). (and promptly retire shortly thereafter…..ha)

How can you know if a particular house is the right one for you? Other than pricing considerations, there are three questions that you must ask yourself:

QUESTION NUMBER ONE:
Is it in the location that best suits your needs? In other words, does this area offer the schools, shopping, transportation and lifestyle you want? Also, will an investment in this area be profitable for you when the time comes to sell?

QUESTION NUMBER TWO:
Does the house have the features you need? The two most important items are bedrooms and bathrooms, followed by kitchen, living area, and floor plan. Although the house must have certain basic items that are essential to you, it is not unusual for buyers to make some compromises. Some shortcomings may be overlooked if the location is ideal and if the buyer really likes the house and neighborhood.

QUESTION NUMBER THREE:
Does the house feel like it is the right one for you? Does it, or the possibility of what it may become, excite you? Don’t buy a house that doesn’t appeal to you from an emotional point of view. You should be able to take pride in your home and look forward to living there. It will require a large portion of your earnings to make the monthly payments and pay for needed repairs and maintenance. These financial obligations become an extra burden if the house does not appeal to you emotionally. The role of emotions is one of the major factors that distinguish home buying from making other types of investments. You should not, however, let your emotions sway your decision making when purchasing other real estate investment properties. They will have to make sense based on their financial merits. But, when buying your own home, feelings count.

ADVICE:
The easiest way to find out about homes for sale in your price range is to use the services of a Realtor® who belongs to the multiple listing service that covers the area you want. After seeing a list of all the homes available, you can choose which homes you want to visit. You will know when you have found the right house for you. You will feel it. I promise.

North Shore Area

Please contact me if you would like information on a specific neighborhood. In general, however, prices for North Shore properties were down again through September 2007.

North Shore Single Family Homes For The Year 2007
………………………………..North Shore
Number of Sales………….. 74
Median Sales……………… $800,000
Average Sales Price…….. $1,136,764

North Shore Area Condominiums For The Year 2007
…………………………………North Shore
Nummber of Sales………….. 41
Median Sales……………… $356,500
Average Sales Price…….. $632,950

According to the Honolulu Board of Realtors, the year to date median price for single family homes on Oahu was $648,000 and the median price for condominiums and townhomes was $325,000. So prices in North Shore remained generally higher than in other parts of the island. My guess is that prices will likely continue to decline during the year, and end with an overall 10% or 15% or so price decrease for 2007 for the North Shore Area….We shall see…

Honolulu Area

The city of Honolulu has over 200 separate and distinct neighborhoods, each with their own character and home pricing trends. Please contact me if you would like information on a specific neighborhood. In general, however, prices for Honolulu properties were mixed through September 2007.

Honolulu Area Single Family Homes For The Year 2007
………………………………..Metro…………..East Oahu
Number of Sales………….. 344……………. 523
Median Sales……………… $715,000………$940,000
Average Sales Price…….. $770,453……….$1,275,651

Honolulu Area Condominiums For The Year 2007
…………………………………Metro……………East Oahu
Number of Sales………….. 2,254……………..308
Median Sales……………… $325,000………..$518,400
Average Sales Price…….. $390,683………..$587,300

According to the Honolulu Board of Realtors, the year to date median price for single family homes on Oahu was $648,000 and the median price for condominiums and townhomes was $325,000. So prices in Honolulu continued to remain generally higher than in other parts of the island.

In general, prices for Oahu properties were up slightly through September 2007.

Oahu – Single Family Homes For The Year 2007
Number of Sales………….. 2,877
Median Sales……………… $648,000
Average Sales Price…….. $798,247

Oahu – Condominiums For The Year 2007
Number of Sales………….. 4,344
Median Sales……………… $325,000
Average Sales Price…….. $381,241

According to the Honolulu Board of Realtors, the month of September median price for single family homes on Oahu was $650,000 and the median price for condominiums and townhomes was $335,000. My guess is that prices will likely ebb and flow during the remainder of th year, but end with an overall 3% to 5% price decrease for 2007…..with some specific neighborhoods and types of property being impacted more heavily than others…..We shall see…

The next time you are shopping for a home to buy, don’t ignore the properties that surround the subject house on all four sides. They can have an enormous impact on the value of your future home when you decide to sell. Here are some things to remember:

EQUAL OR GREATER VALUE:
It is always wise to buy a house surrounded by homes that are of equal or greater value. They will help pull the value of your house up in the years to come. If, on the other hand, you had more money invested than your neighbors, you would have a tougher time maximizing your potential profit. You don’t ever want to own the most expensive home on the block.

STRICTLY RESIDENTIAL:
It is not a good idea to buy a house adjacent to any property other than single family residential. Don’t purchase a house that backs up to a school yard, apartment building, store or office building. You don’t know what use or misuse will be made of those properties. If you have similar homes all around you, your investment is more secure and desirable to potential buyers in the future.

VACANT LOTS:
Don’t buy a house next to a vacant lot. You never know what kind of structure will be built on the lot and how it will affect the value and enjoyment of your property.

CONDITION:
If an adjacent house is in poor condition, don’t assume that it will be fixed before you decide to sell.

ADVICE:
As you can see, there are many things to consider when buying a home. Use the services of a professional, your Realtor®, like me;).

Here are some important tips to consider when showing your home to prospective buyers:

CLEANLINESS:
A personal inspection of every room is a must. Cooperation from all family members is important during the entire time that your home is for sale. Even though your Realtor® tries to give you adequate advance notice, it isn’t always possible. Consequently, only last-minute cleanup may be possible. The two areas needing closest attention are the kitchen and bathrooms.

LIGHTING:
Your home should have a bright and cheery appearance. Lighting plays an important role in displaying your home to its best advantage. Whether it is a sunny day or after dark, turn on many lights throughout the house.

ODORS:
While your home is for sale, it may be necessary to temporarily avoid cooking certain foods. Strong smelling foods may be offensive to a prospective buyer. Check the entire house for any musty or distasteful odors.

NOISE:
All stereos, television sets, radios, and CD players should be turned off while the home is being shown. Many homeowners feel that soft background music enhances the sale. Not so, in my opinion. Any noises may tend to distract the potential buyers from
concentrating on the features of your home.

HOMEOWNER:
Many homeowners feel that they should personally conduct a tour of their home for both the Realtor and his or her customers. Do not do this! This will make them feel uncomfortable and anxious to escape as soon as they can. Although Realtors don’t know all the features of your home as well as you do, they do know the personality and needs of their customers. Excuse yourself and be available for questions. Let the Realtors do the selling.