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Kapolei Today
Prostate cancer and other transactions
At some point, early in my surprise diagnosis with Prostate cancer, I remember realizing that I had managed to transactionalize the process and how that had taken the entire experience from one of an unknown, to my home court advantage. I was the buyer, the doctors were the lenders, the treatments were the programs available and the tests were the inspections. I just wasn't clear on who the seller was. God, life, karma, the universal source... but I was pretty clear that it was a higher power of one form or another and I had to understand their needs in the transaction also. This is the file.
Like many men I'm sure, I resist non emergency doctor visits and while I would never let my car go without it's recommended service, I seem to ignore my primary vehicle's service records without either thought or regret. I felt great and if it wasn't for my wife's insistence, I am sure I would have still avoided that one hour inconvenience. So I went to the doctor and he did the things doctors do, and ordered some blood work including a PSA (Prostate Specific Antigen) test and I was to see him in a week.
The test was just barely on the elevated stage. If I spend too much time on this, I hope you will forgive me, but I do so because I hope to generate a few tests of those who read this. It was a 4.4. At my age of 50+ they prefer less than 3.0, but a 4.4 is way short of being dramatically high, that would be closer to a 10. Being the good doctor he is, remember at the beginning I said the lenders in this transaction were the doctors, he referred me to a specialist (underwriting) . My primary physician is Dr. Bradley Lee of the Kapolei Family Medical Center, and I have since gone back and thanked him for saving my life. See... this is not a story of gloom and doom, but one of celebration and thanks.
My referred doctor, Dr. David C. Wei of Hawaii Prostate Center, Dr. Wei's website, reviewed my charts and asked the right questions. He explained that the elevated PSA could be from other things or could be from an early stage of cancer. We could "wait and watch" (which surprisingly is a recognized protocol for Prostate abnormalities) or we could do a Biopsy. I have a LOT of family history and am one of those who has always known that Prostate cancer for me was not a matter of if, but when. I chose the Biopsy. In my mind, it was precautionary and solely intended to put my mind back to rest, and a week later it was done and I was to check back in a week for the results.
If you haven't been in a Doctor's office hearing the word cancer as it applies to you, it's a little hard to describe. I kept wanting to change the channel. It was August 7th when the magnitude of the situation arrived. Again, the biopsy was very encouraging indicating a small, non aggressive and early stage cancer. 20 years ago, when my father was diagnosed I would have been hearing a death sentence. In todays world, most of the options are age determinate. If I'd been 80 or in poor health hormone and radiation would have been very likely. The preferred technique for my circumstances was the removal of the prostate. I remember listening as his conversation covered the details and hearing the word "remove" like a splash of ice cold water on my face. If I hadn't been paying attention up to that point, I was now. As little as five years ago and certainly 10, this procedure would have almost certainly created continence and potency issues. Today, it isn't like that at all. It is still a game of percentages and you can improve your percentages by having an experienced doctor, but no doctor can guarantee you that their won't be some losses. I think incontinence is less than 5% and impotency is between 30% to 50% depending on the study. It is not a procedure that I would want someone to learn on me. These are good questions to ask.
Dr. Wei described the Laproscopic Robotic surgery known as the DaVinci procedure, and I left to meet with him in a week after I'd had a chance to digest all of this. I got a 2nd opinion, spoke with a good friend who'd had prostate cancer in 2001, spoke with a Dr. friend and called my old Doctor in Topeka. There was no disagreement between all of them that removal was the choice. For me the good news was that once removed, I would have a 98% chance to eliminate future prostate cancer for the rest of my life. Can't get it if you ain't got it. I tell people that I am now faced with trying to decide what will be my most likely cause of demise, since I just eliminated the most likely one.
Prostate cancer is tricky and PSA is only a predictor. The prostate is right in the thick of things of all those things we hold dear and the organ itself is hard to reach. Digital exams are helpful but not perfect. You can collect data from ultrasounds, biopsy scores, PSA level and digital exams but at some point, it requires a best guess approach. Our guess was that it was small, early and a 6 on a scale known as The Gleason scale. 6 is the lowest and 10 the highest. When it was all said and done, the pathology after the surgery was that it was not small, it was 20% of the prostate. It was not a 6 but a 7. It should not have generated a mere 4.4 PSA, but it did. In Dr. Wei, I found a Dr. who respected cancer. He approaches cancer as something that has a predictable but not certain behavior. He is proactive and aggressive in his treatment. I highly recommend this approach. Had someone been treating me based on the data and the associated percentages, I may not have had a biopsy yet and I almost certainly would not have had surgery. Had I had surgery, my lymph nodes would probably not have been removed, because of the PSA and Gleason, but instead they were which is what the pathology after the fact would have dictated.
Remember August 7th? It's September 21st today and I've had the surgery, gone to Minnesota for a wedding, had my best month EVER in real estate, and appear to have no side effects from the surgery. (exactly) In fact, the surgery was one month ago today and I often don't remember that I had it unless someone asks how I'm doing.
It was another good closing.
Time for the sermon.
Gentlemen. If you have been putting off a certain examination, make the appointment. I know it is the last thing on your mind, but perhaps it isn't right now. I know it will not be the most fun you had that day. Humor is helpful and I remember in the midst of one examination, the Dr. said, "Now, you only have to worry if you feel both of my hands on your shoulders." When you are having your PSA tested, ask them to explain "Free PSA and PSA" and ask the doctor if it would be good to have a Free PSA done also for a baseline. Get it done and whatever schedule your doctor recommends for periodic checks, get those done too. The only fear of Prostate Cancer is for it to go undetected. The best thing that has happened to me was the detection and removal of what has always been my family's weakest link. Remember this, I was completely symptom free and there was nothing to indicate any presence whatsoever.
Ladies. It is probably safe to assume that as logical as the above paragraph is, the men in your life will ignore it completely. I can identify the doctors who did marvelous doctoring to take me to where I am today, but they never would have had the chance if my wife hadn't made me go in the first place. Use your powers of persuasion and insist. Be non negotiable!
Being presented with the exit sign is an interesting gift. I can actually say that this whole experience has been one of joy and expectation. I always liked this expression, "The best attitude is gratitude."
Like many men I'm sure, I resist non emergency doctor visits and while I would never let my car go without it's recommended service, I seem to ignore my primary vehicle's service records without either thought or regret. I felt great and if it wasn't for my wife's insistence, I am sure I would have still avoided that one hour inconvenience. So I went to the doctor and he did the things doctors do, and ordered some blood work including a PSA (Prostate Specific Antigen) test and I was to see him in a week.
The test was just barely on the elevated stage. If I spend too much time on this, I hope you will forgive me, but I do so because I hope to generate a few tests of those who read this. It was a 4.4. At my age of 50+ they prefer less than 3.0, but a 4.4 is way short of being dramatically high, that would be closer to a 10. Being the good doctor he is, remember at the beginning I said the lenders in this transaction were the doctors, he referred me to a specialist (underwriting) . My primary physician is Dr. Bradley Lee of the Kapolei Family Medical Center, and I have since gone back and thanked him for saving my life. See... this is not a story of gloom and doom, but one of celebration and thanks.
My referred doctor, Dr. David C. Wei of Hawaii Prostate Center, Dr. Wei's website, reviewed my charts and asked the right questions. He explained that the elevated PSA could be from other things or could be from an early stage of cancer. We could "wait and watch" (which surprisingly is a recognized protocol for Prostate abnormalities) or we could do a Biopsy. I have a LOT of family history and am one of those who has always known that Prostate cancer for me was not a matter of if, but when. I chose the Biopsy. In my mind, it was precautionary and solely intended to put my mind back to rest, and a week later it was done and I was to check back in a week for the results.
If you haven't been in a Doctor's office hearing the word cancer as it applies to you, it's a little hard to describe. I kept wanting to change the channel. It was August 7th when the magnitude of the situation arrived. Again, the biopsy was very encouraging indicating a small, non aggressive and early stage cancer. 20 years ago, when my father was diagnosed I would have been hearing a death sentence. In todays world, most of the options are age determinate. If I'd been 80 or in poor health hormone and radiation would have been very likely. The preferred technique for my circumstances was the removal of the prostate. I remember listening as his conversation covered the details and hearing the word "remove" like a splash of ice cold water on my face. If I hadn't been paying attention up to that point, I was now. As little as five years ago and certainly 10, this procedure would have almost certainly created continence and potency issues. Today, it isn't like that at all. It is still a game of percentages and you can improve your percentages by having an experienced doctor, but no doctor can guarantee you that their won't be some losses. I think incontinence is less than 5% and impotency is between 30% to 50% depending on the study. It is not a procedure that I would want someone to learn on me. These are good questions to ask.
Dr. Wei described the Laproscopic Robotic surgery known as the DaVinci procedure, and I left to meet with him in a week after I'd had a chance to digest all of this. I got a 2nd opinion, spoke with a good friend who'd had prostate cancer in 2001, spoke with a Dr. friend and called my old Doctor in Topeka. There was no disagreement between all of them that removal was the choice. For me the good news was that once removed, I would have a 98% chance to eliminate future prostate cancer for the rest of my life. Can't get it if you ain't got it. I tell people that I am now faced with trying to decide what will be my most likely cause of demise, since I just eliminated the most likely one.
Prostate cancer is tricky and PSA is only a predictor. The prostate is right in the thick of things of all those things we hold dear and the organ itself is hard to reach. Digital exams are helpful but not perfect. You can collect data from ultrasounds, biopsy scores, PSA level and digital exams but at some point, it requires a best guess approach. Our guess was that it was small, early and a 6 on a scale known as The Gleason scale. 6 is the lowest and 10 the highest. When it was all said and done, the pathology after the surgery was that it was not small, it was 20% of the prostate. It was not a 6 but a 7. It should not have generated a mere 4.4 PSA, but it did. In Dr. Wei, I found a Dr. who respected cancer. He approaches cancer as something that has a predictable but not certain behavior. He is proactive and aggressive in his treatment. I highly recommend this approach. Had someone been treating me based on the data and the associated percentages, I may not have had a biopsy yet and I almost certainly would not have had surgery. Had I had surgery, my lymph nodes would probably not have been removed, because of the PSA and Gleason, but instead they were which is what the pathology after the fact would have dictated.
Remember August 7th? It's September 21st today and I've had the surgery, gone to Minnesota for a wedding, had my best month EVER in real estate, and appear to have no side effects from the surgery. (exactly) In fact, the surgery was one month ago today and I often don't remember that I had it unless someone asks how I'm doing.
It was another good closing.
Time for the sermon.
Gentlemen. If you have been putting off a certain examination, make the appointment. I know it is the last thing on your mind, but perhaps it isn't right now. I know it will not be the most fun you had that day. Humor is helpful and I remember in the midst of one examination, the Dr. said, "Now, you only have to worry if you feel both of my hands on your shoulders." When you are having your PSA tested, ask them to explain "Free PSA and PSA" and ask the doctor if it would be good to have a Free PSA done also for a baseline. Get it done and whatever schedule your doctor recommends for periodic checks, get those done too. The only fear of Prostate Cancer is for it to go undetected. The best thing that has happened to me was the detection and removal of what has always been my family's weakest link. Remember this, I was completely symptom free and there was nothing to indicate any presence whatsoever.
Ladies. It is probably safe to assume that as logical as the above paragraph is, the men in your life will ignore it completely. I can identify the doctors who did marvelous doctoring to take me to where I am today, but they never would have had the chance if my wife hadn't made me go in the first place. Use your powers of persuasion and insist. Be non negotiable!
Being presented with the exit sign is an interesting gift. I can actually say that this whole experience has been one of joy and expectation. I always liked this expression, "The best attitude is gratitude."
July 2008's Monthly Statistics Report
Welcome!! If this is your first visit here make yourself at home and for those of you who have been following these over the past months, we continue to see our monthly inventory rising. For Single family, it is a monthly increase from 8.3 months to 9.0 months and for Condominiums a similar increase from 7 months to 7.8 (page 16). When you look at the graph, you'll see a "V" shaped trough and we have now reached the 2000 levels of monthly inventory.
As to prices, they remain flat to slightly down, but when considering the inventory increase and the slowdown of sales, in my opinion, that is a major accomplishment. The median price of new listings dipped about 2% from June to July on Single Family and 6-7% on Condos for the same period. Single Family remains higher than the the first of the year, while Condos have dipped to a 2008 low. (Page 10)
Median Number of Days on the market for single family rose from 39 days in June to 52 days in July which is quite a jump percentage wise and it will be interesting to see August's number. Condos remained in the low 40's where they've been for a few months with July at 42 days compared to June at 40 days. (Page 5)
As to the big picture, Oahu overall YTD for single family as compared to 2007 is down on number of homes sold by 25.7% while the median price is only down by 2.8%. Overall YTD for Condos for the same period is down by 26.6% and yet the median price is up by 1.5%. All things considered and as compared to so many areas in the country where I talk to friends and agents, our market is doing remarkably well. (Page 6)
As is the usual custom, I thank the Honolulu Board of REALTORs for making such great data available to us and I hope you find it as interesting as I do : ). Here is the link for the full report which also has regional and neighborhood breakdowns.
July 2008 Statistical report
As to prices, they remain flat to slightly down, but when considering the inventory increase and the slowdown of sales, in my opinion, that is a major accomplishment. The median price of new listings dipped about 2% from June to July on Single Family and 6-7% on Condos for the same period. Single Family remains higher than the the first of the year, while Condos have dipped to a 2008 low. (Page 10)
Median Number of Days on the market for single family rose from 39 days in June to 52 days in July which is quite a jump percentage wise and it will be interesting to see August's number. Condos remained in the low 40's where they've been for a few months with July at 42 days compared to June at 40 days. (Page 5)
As to the big picture, Oahu overall YTD for single family as compared to 2007 is down on number of homes sold by 25.7% while the median price is only down by 2.8%. Overall YTD for Condos for the same period is down by 26.6% and yet the median price is up by 1.5%. All things considered and as compared to so many areas in the country where I talk to friends and agents, our market is doing remarkably well. (Page 6)
As is the usual custom, I thank the Honolulu Board of REALTORs for making such great data available to us and I hope you find it as interesting as I do : ). Here is the link for the full report which also has regional and neighborhood breakdowns.
July 2008 Statistical report
How to buy 83-644 Farrington Hwy with a 100% VA Loan
REDUCED $10,000.00 ! August 14th, 2008
About the only Zero down payment loans out there right now are VA Loans. I've always thought them to be one of best loan products available, but in today's market, they have become even better. In Hawaii, we are lucky enough to have a Loan limit of $620,000 which is high enough to buy some really great houses and not be required to have any down payment. With some structure and planning, the costs of the loan are also able to be paid through the transaction through buyer credits which means it is very easy to purchase a home and have no cash requirement at all.
The property at 83-644 Farrington Hwy is located north of Makaha and is situated on a very nice 2 acres directly across the street from the ocean with lovely views and a sense of unique privacy. The home is a 3 bedroom / 2 bath plantation style home that was built in 2002 and has everything people are looking for these days, including granite counters, an open floor plan, wrap around lanai with ocean and mountain views, concrete drive with tons of parking, coconut trees, plumerias, workshop and a huge master bedroom. The home itself has over 1,400 sq. feet and is a bank owned property and really priced to sell. REDUCED $10,000 to $584,900!
If you'd like to explore this property with me, give me a call or send me a note. Here are some links to give you a good idea of what the property offers and I'd love to show it to you and help you find a way to own this property.
Visual Tour of the home and 2 acres
Listing details
If you have any questions, feel free to give me a call at 808-225-3660 or email me at mhhege@aol.com .
Wailana at Waikiki
The first time you come into Honolulu, I don't think you can help being taken by the towering high rise buildings. Like so many chess pieces on an urban board, they each have their signature look and prestigious addresses in bold on the faces of the buildings. Names like Moana Pacific, Hawaiki Tower and Wailana at Waikiki are passed on the streets but the real pleasure is when you have the chance to enter them.
The views from these architectural marvels are fabulous and present urban living at it's finest. Once inside the buildings, it is easily understood why so many people call them home. With various levels of security and walking access to some of the most popular areas of town they are communities within themselves.
As I was preparing the listing at Wailana, I easily met several residents who chatted a bit with me about how they loved the building. I'm sure there is a certain amount of pride with each buildings inhabitants, but I was struck by the common theme of the conversations I had with them as to their delight to live there. I think the great feature of the Wailana is her location. Straddling one of the most vibrant intersections in Waikiki, there are dozens of restaurants and shops within a short walking distance from your door. The amazing Hilton Hawaiian Village and the impressive Hale Koa Hotels are across the street with the large open spaces of Fort DeRussy park also on the other side of the street.
The building is a long single lode building with open hallways, which allows for good cross ventilation. There is central air conditioning for warmer days. There is a popular 24 hour restaurant at the street level, the Wailana coffee shop, which can be accessed through the lobby. There are several other commercial units on the 4th level, above the parking structure. Security includes passkey, elevator passkey and security guard.
With 24 stories and 186 units it is large enough to make several friends but not too large to be lost in the crowds. There are leasehold and fee simple units available with the lease expiration date in 2039.
As for OUR FEATURED PROPERTY, it is a fee simple property on the 18th floor and has been tastefully remodeled with granite counters throughout, stainless steel appliances and maple cabinets in the kitchen with a mix of ceramic tiles and carpeting. To take a virtual tour of the property, click here: Wailana at Waikiki virtual tour
The property is extremely easy to show to qualified buyers and if you are interested in learning more or would like to schedule a private showing, give me a call at (808) 225-3660 or visit my website at HomesOahuHawaii if you'd like more information.
For a quick search of other available Condos in the Waikiki area here are some links to follow:
Waikiki Condos $300K to $650K
Waikiki Condos $650K to $1MM
Waikiki Condos $1MM to $2.5MM
Waikiki Condos $2.5 MM and up
If you would be interested in having some searches customized for you, let me know and I can set up about anything you'd like.
For July 2008's Statistical Market Report Click Here
I look forward to hearing from you!
Aloha
Michael
The views from these architectural marvels are fabulous and present urban living at it's finest. Once inside the buildings, it is easily understood why so many people call them home. With various levels of security and walking access to some of the most popular areas of town they are communities within themselves.
As I was preparing the listing at Wailana, I easily met several residents who chatted a bit with me about how they loved the building. I'm sure there is a certain amount of pride with each buildings inhabitants, but I was struck by the common theme of the conversations I had with them as to their delight to live there. I think the great feature of the Wailana is her location. Straddling one of the most vibrant intersections in Waikiki, there are dozens of restaurants and shops within a short walking distance from your door. The amazing Hilton Hawaiian Village and the impressive Hale Koa Hotels are across the street with the large open spaces of Fort DeRussy park also on the other side of the street.
The building is a long single lode building with open hallways, which allows for good cross ventilation. There is central air conditioning for warmer days. There is a popular 24 hour restaurant at the street level, the Wailana coffee shop, which can be accessed through the lobby. There are several other commercial units on the 4th level, above the parking structure. Security includes passkey, elevator passkey and security guard.
With 24 stories and 186 units it is large enough to make several friends but not too large to be lost in the crowds. There are leasehold and fee simple units available with the lease expiration date in 2039.
As for OUR FEATURED PROPERTY, it is a fee simple property on the 18th floor and has been tastefully remodeled with granite counters throughout, stainless steel appliances and maple cabinets in the kitchen with a mix of ceramic tiles and carpeting. To take a virtual tour of the property, click here: Wailana at Waikiki virtual tour
The property is extremely easy to show to qualified buyers and if you are interested in learning more or would like to schedule a private showing, give me a call at (808) 225-3660 or visit my website at HomesOahuHawaii if you'd like more information.
For a quick search of other available Condos in the Waikiki area here are some links to follow:
Waikiki Condos $300K to $650K
Waikiki Condos $650K to $1MM
Waikiki Condos $1MM to $2.5MM
Waikiki Condos $2.5 MM and up
If you would be interested in having some searches customized for you, let me know and I can set up about anything you'd like.
For July 2008's Statistical Market Report Click Here
I look forward to hearing from you!
Aloha
Michael
Working with lenders
My view of being a REALTOR has always been that the easy part of the job was finding a house my clients liked. The real task was to find the best way for them to buy the house they selected. Many of those details were within the role of the REALTOR and many were placed into the care of others. I used the word "care" purposely, because 9 out of 10 times I have been involved in the selection of the lender and the "lender experience" is often the way the entire transaction is viewed by the home buyer.
I work with lenders I know personally, lenders who I meet through the transaction and lenders who have been recommended to me. There are some that I am able to vouch for personally from other transactions and some are a yet to be determined quantity. What I don't have is a lender who will "count" on my transactions as much as one's who appreciate the opportunity to be able to compete for them. I wanted to talk about one of those today.
I think my first assignment when working with a buyer is to introduce them to the options available to them and help them decide what the best type of financing will be for their particular situation. VA, FHA or conventional and if conventional, which of those products will be the best fit for them. I do my best to explain the pros and cons of each approach and when I have a good understanding of their goals we'll talk about the choices available to them. If they have a lender they have selected as someone they would like to work with, I ask that we get a Good Faith Estimate (GFE) from that lender as well as 2 others at a rate, price, prepaid interest date and program that is identical so we can see how everyone compares in the market.
The GFE's give me the ability to analyze the overall costs and approach that each lender is bidding for this clients loan. FICO scores are necessary for this to be a valid exercise and the purchasers will already have been preapproved before we start the viewing process by one of these lenders so that we have those scores and a purchase power guideline.
The final selection is up to the buyers. It may be about money, it may be about a relationship they have with the lender, it may be many things. What is most important to me is that they would be able to say what that reason was and that it wouldn't be "because I told them to use them". There is just too much money and longterm expense at stake for me to be making that decision. I want to give them the best choices I can and help them to fully understand their choices, but I want the buyers to be the "deciders".
In a transaction that is closing this week, one of the lenders that I had brought into the decision process was the selected lender. He won their business on several levels and is one who I enjoy working with immensely. Rates had risen since their lock and when the underwriters changed their guidelines for the approval he went to bat for the purchasers exhausting all avenues of relief through the supervisory channels. When he was unable to have them stand by their earlier commitment, he pulled the loan from them and placed it with another lender to satisfactorily obtain loan approval.
His income will be reduced by over 50% due to the changes in rates between the application and new loan application. The purchasers will have the same costs he had promised them. In my conversation with him, he explained to me that it was the right thing for him to do and he had no regrets in doing so. He had chosen the underwriter, he had made the commitment to the purchasers and that his reputation and his word were the most important part of the transaction to him. Income from the loan was much lower on his list of priorities.
It may seem like a lot of work to be involved as much as I am in the lender process, but I've personally found that if you approach each transaction unbiasedly and find the lender that fits the needs of your buyer the best, that it can make all the difference in the world.
I will recommend Tony again as one who has my respect and admiration to future buyers. I'll also get 2 other GFE's when I do and let the buyers decide. But if all other things are comparable, I will share this story of integrity that Tony exhibited and see if he doesn't receive some additional value beyond the dollars and cents.
If you'd like to contact Tony Dias for a pre-approval or Good Faith Estimate he can be reached through his website at:
Tony's website
If you are a veteran or if you are working with one, Tony's specialty are VA loans and I've found him to be simply marvelous.
I work with lenders I know personally, lenders who I meet through the transaction and lenders who have been recommended to me. There are some that I am able to vouch for personally from other transactions and some are a yet to be determined quantity. What I don't have is a lender who will "count" on my transactions as much as one's who appreciate the opportunity to be able to compete for them. I wanted to talk about one of those today.
I think my first assignment when working with a buyer is to introduce them to the options available to them and help them decide what the best type of financing will be for their particular situation. VA, FHA or conventional and if conventional, which of those products will be the best fit for them. I do my best to explain the pros and cons of each approach and when I have a good understanding of their goals we'll talk about the choices available to them. If they have a lender they have selected as someone they would like to work with, I ask that we get a Good Faith Estimate (GFE) from that lender as well as 2 others at a rate, price, prepaid interest date and program that is identical so we can see how everyone compares in the market.
The GFE's give me the ability to analyze the overall costs and approach that each lender is bidding for this clients loan. FICO scores are necessary for this to be a valid exercise and the purchasers will already have been preapproved before we start the viewing process by one of these lenders so that we have those scores and a purchase power guideline.
The final selection is up to the buyers. It may be about money, it may be about a relationship they have with the lender, it may be many things. What is most important to me is that they would be able to say what that reason was and that it wouldn't be "because I told them to use them". There is just too much money and longterm expense at stake for me to be making that decision. I want to give them the best choices I can and help them to fully understand their choices, but I want the buyers to be the "deciders".
In a transaction that is closing this week, one of the lenders that I had brought into the decision process was the selected lender. He won their business on several levels and is one who I enjoy working with immensely. Rates had risen since their lock and when the underwriters changed their guidelines for the approval he went to bat for the purchasers exhausting all avenues of relief through the supervisory channels. When he was unable to have them stand by their earlier commitment, he pulled the loan from them and placed it with another lender to satisfactorily obtain loan approval.
His income will be reduced by over 50% due to the changes in rates between the application and new loan application. The purchasers will have the same costs he had promised them. In my conversation with him, he explained to me that it was the right thing for him to do and he had no regrets in doing so. He had chosen the underwriter, he had made the commitment to the purchasers and that his reputation and his word were the most important part of the transaction to him. Income from the loan was much lower on his list of priorities.
It may seem like a lot of work to be involved as much as I am in the lender process, but I've personally found that if you approach each transaction unbiasedly and find the lender that fits the needs of your buyer the best, that it can make all the difference in the world.
I will recommend Tony again as one who has my respect and admiration to future buyers. I'll also get 2 other GFE's when I do and let the buyers decide. But if all other things are comparable, I will share this story of integrity that Tony exhibited and see if he doesn't receive some additional value beyond the dollars and cents.
If you'd like to contact Tony Dias for a pre-approval or Good Faith Estimate he can be reached through his website at:
Tony's website
If you are a veteran or if you are working with one, Tony's specialty are VA loans and I've found him to be simply marvelous.
Market Stats through first 6 months of 2008
The first 6 months of statistics for Oahu, HI are now available through the link below. There is truly a wealth of information in them and probably something for everybody whether you are a buyer, investor, seller or homeowner wondering about a move.
The most significant stats in my opinion is the reduction of units sold which is compounded by the increasing numbers of units available for sale. We will normally refer to this as the "Monthly Inventory" and as the numbers of months required to sell the existing inventory increases, it becomes more and more of a buyers market. The number is reached by dividing the listing inventory by the number of units sold, or in Oahu's Single family for instance:
2,080 (currently listed homes) / 252 ( homes closed in June '08) = 8.3 months
This number in a vacuum means very little and is more helpful when compared to a different time period. For instance as compared to a year ago, the same data was:
1,806 (# of homes listed June '07) / (357 (#number of homes closed June '07) = 5.1 months
This represents an increase in the monthly inventory of 3.2 months which is a very significant increase. It has been trending up all year and is one of the key numbers to watch when looking at the "health" of a market place. This information is on page 17 of the linked report and is also broken down by specific areas and price ranges. For Ewa Beach, Kapolei and Ko Olina refer to the Ewa Plain area and Makakilo has her own area's listing.
Another very interesting statistic is that in June 2008 the average Days on Market (DOM) was actually the lowest it has been since 2005. This would indicate that some properties are selling very quickly while others are languishing. In other words, there are good values and they are being bought quickly and there are others which are simply not selling. As REALTORS, we always try to explain to our listing clients that your initial entrance to the marketplace is the most important move you make. Pricing, condition, advertising presence, documentation and ability to show the property should all be in place on Day one of your listings availability.
Testing the market price or prematurely making your property available can damage your longterm results by losing the buyers with the highest level of interest while you take care of the loose ends. A new listing will often have more showings in the first 2 weeks of it's marketing period than during the next 30 to 60 days, and those first 14 days were the people who for a number of different reasons were possibly the most interested in your property.
Long story short, homes that are priced right, staged well and marketed with a high impact entry to the marketplace are still selling and selling fast. If you choose to be one of those properties, the market is there.
I hope you are able to take sometime to peruse the report and that it helps you to analyze your position. If you'd like to spend some time to learn what all those statistics mean to you, I'm always available to get together with you and listen to your goals and give you an honest opinion of how you might consider getting there.
In the meantime... Happy 4th of July and I am reminded as I write of how fortunate we all are to have the possibility of Home Ownership available to us in the first place.
June 2008 HBR housing statistics
Mahalo for your interest. If you would like to visit my real estate website or would like my contact information, here is the link.
HomesOahuHawaii
The most significant stats in my opinion is the reduction of units sold which is compounded by the increasing numbers of units available for sale. We will normally refer to this as the "Monthly Inventory" and as the numbers of months required to sell the existing inventory increases, it becomes more and more of a buyers market. The number is reached by dividing the listing inventory by the number of units sold, or in Oahu's Single family for instance:
2,080 (currently listed homes) / 252 ( homes closed in June '08) = 8.3 months
This number in a vacuum means very little and is more helpful when compared to a different time period. For instance as compared to a year ago, the same data was:
1,806 (# of homes listed June '07) / (357 (#number of homes closed June '07) = 5.1 months
This represents an increase in the monthly inventory of 3.2 months which is a very significant increase. It has been trending up all year and is one of the key numbers to watch when looking at the "health" of a market place. This information is on page 17 of the linked report and is also broken down by specific areas and price ranges. For Ewa Beach, Kapolei and Ko Olina refer to the Ewa Plain area and Makakilo has her own area's listing.
Another very interesting statistic is that in June 2008 the average Days on Market (DOM) was actually the lowest it has been since 2005. This would indicate that some properties are selling very quickly while others are languishing. In other words, there are good values and they are being bought quickly and there are others which are simply not selling. As REALTORS, we always try to explain to our listing clients that your initial entrance to the marketplace is the most important move you make. Pricing, condition, advertising presence, documentation and ability to show the property should all be in place on Day one of your listings availability.
Testing the market price or prematurely making your property available can damage your longterm results by losing the buyers with the highest level of interest while you take care of the loose ends. A new listing will often have more showings in the first 2 weeks of it's marketing period than during the next 30 to 60 days, and those first 14 days were the people who for a number of different reasons were possibly the most interested in your property.
Long story short, homes that are priced right, staged well and marketed with a high impact entry to the marketplace are still selling and selling fast. If you choose to be one of those properties, the market is there.
I hope you are able to take sometime to peruse the report and that it helps you to analyze your position. If you'd like to spend some time to learn what all those statistics mean to you, I'm always available to get together with you and listen to your goals and give you an honest opinion of how you might consider getting there.
In the meantime... Happy 4th of July and I am reminded as I write of how fortunate we all are to have the possibility of Home Ownership available to us in the first place.
June 2008 HBR housing statistics
Mahalo for your interest. If you would like to visit my real estate website or would like my contact information, here is the link.
HomesOahuHawaii
May 2008 Oahu real estate statistics
As numbers for another month become available, there is good information for Buyers and Sellers to take note of. The numbers of unit sales is down considerably but prices are remaining fairly stable.
For sellers, this means that homes are selling and for those that are priced well, days on market and list price to sale price ratios are favorable. Pricing and market exposure are more important than ever and the best of the best listings are selling but coming in 2nd or 3rd on a buyers choice is not good enough. The good news is that if you have a home to sell, the market is there and if you want to sell you probably can. As always, professional advice, a solid marketing plan and competitive pricing based on the competition in your area will dictate your success.
For buyers, the reduction in units sold has made you Very Important People. You have the ability in this market to make your desires known and use your wide variety of choices to negotiate assertively. When you present yourselves to a seller as someone who is fully capable of performing if you are able to come to terms with the seller, you bring the most powerful argument to that seller. "We'd be interested in purchasing your home, but if we can't reach an agreement, there are others who may."
Here is a link to the most recent stats from the Honolulu Board of REALTORS.
May 2008 Statistics
If you are interested in finding out more about the Kapolei and Ko Olina real estate market, I would enjoy having a conversation with you. If you'd like to learn more about my proactive approach, please be sure to visit me at :
Michael's website
In the meantime... Know your market!
For sellers, this means that homes are selling and for those that are priced well, days on market and list price to sale price ratios are favorable. Pricing and market exposure are more important than ever and the best of the best listings are selling but coming in 2nd or 3rd on a buyers choice is not good enough. The good news is that if you have a home to sell, the market is there and if you want to sell you probably can. As always, professional advice, a solid marketing plan and competitive pricing based on the competition in your area will dictate your success.
For buyers, the reduction in units sold has made you Very Important People. You have the ability in this market to make your desires known and use your wide variety of choices to negotiate assertively. When you present yourselves to a seller as someone who is fully capable of performing if you are able to come to terms with the seller, you bring the most powerful argument to that seller. "We'd be interested in purchasing your home, but if we can't reach an agreement, there are others who may."
Here is a link to the most recent stats from the Honolulu Board of REALTORS.
May 2008 Statistics
If you are interested in finding out more about the Kapolei and Ko Olina real estate market, I would enjoy having a conversation with you. If you'd like to learn more about my proactive approach, please be sure to visit me at :
Michael's website
In the meantime... Know your market!
Ko Olina residential neighborhoods, pictures and information
Ko Olina is sometimes overlooked as a place to not only vacation, but to live year round. There are currently 5 different neighborhoods sprinkled throughout the resort and each of them have a different look and feel to them. Settings, architecture, amenities and price range all create different choices depending on what a person is looking for. What they all share in common is being located in the beautiful Ko Olina resort and all 5 communities will allow you to be members of the Ocean Club with access to the pools, tennis courts, gym and to receive discounts within the area.
Located within 3 miles of Kapolei, Ko Olina offers convenient access to shopping but the relaxed atmosphere of living within walking distance to 4 gorgeous lagoons and miles of walking trails. As you drive in, you know you've arrived to a special place, and it is easy to understand why Disney has selected Ko Olina to build their first offsite Hotel property.
Here is a picture of the entrance to the Ko Olina area with the 24 hour Aloha team check in on the roadway in the right of the picture.
As you enter the area, the first of the housing areas will be on your right. It is called Kai Lani, and is about 30 individual 4 unit buildings some of which have unobstructed ocean and coastline views, many of which are only separated from the coast by a small ribbon of Conservation property. Each unit has a single car garage and there are 1st floor and 2nd floor units. Of all the communities, Kai Lani is the smallest and offers the best of the best in terms of privacy and views. The link will show you available properties in Kai Lani. The picture below shows the gated entrance into the homes. Prices on Kai Lani listings are currently between $700K to $1.295MM
Kai Lani Units for sale
The entrance to the Kai Lani residences
As you continue on into the Resort, you'll pass the Marriotts Ihilani 5 star Hotel and then adjacent to this fantastic property, you'll come to the future site of the Disney Hotel. Located on 23 + acres and fronting the second half of the largest of the 4 Lagoons, this should be quite a transformation to the area.
Future site of the Disney Hotel property
Across the street from the site is the entrance to another community in Ko Olina, Coconut Plantation. These units are located on some beautiful grounds and the landscaping is truly remarkable. Coconut Plantation is the closest of all the 5 communities to the Disney site and has the Ko Olina Golf Course on it's other boundary. Currently, the lowest priced property in Coconut Plantation is just under $600K.
Entrance to Coconut Plantation
Coconut Plantation properties for sale
As you continue on Aliinui Drive, the Ko Olina main artery, you'll go past the newest of the residential choices in Ko Olina and the first beach front property offering year round residency, the Ko Olina Beach Villas. This luxurious high rise style complex has 2 buildings between 7 and 11 stories high and offers one of the most prestigious packages on Oahu. Designed with no details unattended to, the grounds are modeled after the finest 5 star resorts and the designer designed suites units are exquisite. Prices begin in the $900's and for penthouse ocean view estates the prices are in the area of $2.5MM depending on model, view and ammenities. If you'd like more information on this property, drop me a line and I'll send you a brochure with available units and prices.
On pass the Marriott Beach Club and the Marina, you will either turn left to head toward the Ko Olina Kai Golf Estates or go straight to the Ko Olina Hillside Villas and The Fairways at Ko Olina.
At Ko Olina Kai Golf Estates, you'll find the only 60 single family residences in the entire Ko Olina Resort. These single family residences are located on the perimeter of the golf course and are all fairway lots. Once inside Ko Olina Kai the remainder of the community is comprised of 6 unit buildings with floor plans ranging between 2 bedroom/2 bath units to 3 bedroom/3 bath units. The pool/community area is lovely and special attention was given to creating a very open feel through the use of green space. A walking trail leads from the community to the pro shop and 1st tee box of the golf course for those who share that affliction.
Entrance to Ko Olina Kai Golf Estates
Ko Olina Kai Golf Estates Townhomes
Ko Olina Kai Golf Estates Single family homes
At the end of the resort are the Ko Olina Hillside Villas and The Fairways at Ko Olina. As you drive down to the end of Aliinui Drive, you'll have the Hillside on your left and The Fairways on your right. As the name would imply, The Fairways at Ko Olina are built along the golf course and the perimeter units offer expansive views of the Championship course with various sized units and floor plans. Currently priced as low as $425K, these units provide a remarkable value and very affordable entry into the resort.
Entrance to The Fairways at Ko Olina
The Fairways at Ko Olina listings
The Hillside Villas are similarly priced and again, provide a great way to live in a little bit of paradise. Overall, the prices in Ko Olina have softened over the past year and there are some excellent values to be had.
The Ko Olina Hillside Villas
Ko Olina Hillside Villas listings
I hope you will find this to be a good introduction to the many choices that are available in Ko Olina Resort and Marina. I also hope that you will feel free to contact me if you have any questions about this magical place known as Ko Olina... or as it would be translated from her Hawaiian name, Place of Joy... and it truly is.
Michael's Real Estate website
Located within 3 miles of Kapolei, Ko Olina offers convenient access to shopping but the relaxed atmosphere of living within walking distance to 4 gorgeous lagoons and miles of walking trails. As you drive in, you know you've arrived to a special place, and it is easy to understand why Disney has selected Ko Olina to build their first offsite Hotel property.
Here is a picture of the entrance to the Ko Olina area with the 24 hour Aloha team check in on the roadway in the right of the picture.
As you enter the area, the first of the housing areas will be on your right. It is called Kai Lani, and is about 30 individual 4 unit buildings some of which have unobstructed ocean and coastline views, many of which are only separated from the coast by a small ribbon of Conservation property. Each unit has a single car garage and there are 1st floor and 2nd floor units. Of all the communities, Kai Lani is the smallest and offers the best of the best in terms of privacy and views. The link will show you available properties in Kai Lani. The picture below shows the gated entrance into the homes. Prices on Kai Lani listings are currently between $700K to $1.295MM
Kai Lani Units for sale
The entrance to the Kai Lani residences
As you continue on into the Resort, you'll pass the Marriotts Ihilani 5 star Hotel and then adjacent to this fantastic property, you'll come to the future site of the Disney Hotel. Located on 23 + acres and fronting the second half of the largest of the 4 Lagoons, this should be quite a transformation to the area.
Future site of the Disney Hotel property
Across the street from the site is the entrance to another community in Ko Olina, Coconut Plantation. These units are located on some beautiful grounds and the landscaping is truly remarkable. Coconut Plantation is the closest of all the 5 communities to the Disney site and has the Ko Olina Golf Course on it's other boundary. Currently, the lowest priced property in Coconut Plantation is just under $600K.
Entrance to Coconut Plantation
Coconut Plantation properties for sale
As you continue on Aliinui Drive, the Ko Olina main artery, you'll go past the newest of the residential choices in Ko Olina and the first beach front property offering year round residency, the Ko Olina Beach Villas. This luxurious high rise style complex has 2 buildings between 7 and 11 stories high and offers one of the most prestigious packages on Oahu. Designed with no details unattended to, the grounds are modeled after the finest 5 star resorts and the designer designed suites units are exquisite. Prices begin in the $900's and for penthouse ocean view estates the prices are in the area of $2.5MM depending on model, view and ammenities. If you'd like more information on this property, drop me a line and I'll send you a brochure with available units and prices.
On pass the Marriott Beach Club and the Marina, you will either turn left to head toward the Ko Olina Kai Golf Estates or go straight to the Ko Olina Hillside Villas and The Fairways at Ko Olina.
At Ko Olina Kai Golf Estates, you'll find the only 60 single family residences in the entire Ko Olina Resort. These single family residences are located on the perimeter of the golf course and are all fairway lots. Once inside Ko Olina Kai the remainder of the community is comprised of 6 unit buildings with floor plans ranging between 2 bedroom/2 bath units to 3 bedroom/3 bath units. The pool/community area is lovely and special attention was given to creating a very open feel through the use of green space. A walking trail leads from the community to the pro shop and 1st tee box of the golf course for those who share that affliction.
Entrance to Ko Olina Kai Golf Estates
Ko Olina Kai Golf Estates Townhomes
Ko Olina Kai Golf Estates Single family homes
At the end of the resort are the Ko Olina Hillside Villas and The Fairways at Ko Olina. As you drive down to the end of Aliinui Drive, you'll have the Hillside on your left and The Fairways on your right. As the name would imply, The Fairways at Ko Olina are built along the golf course and the perimeter units offer expansive views of the Championship course with various sized units and floor plans. Currently priced as low as $425K, these units provide a remarkable value and very affordable entry into the resort.
Entrance to The Fairways at Ko Olina
The Fairways at Ko Olina listings
The Hillside Villas are similarly priced and again, provide a great way to live in a little bit of paradise. Overall, the prices in Ko Olina have softened over the past year and there are some excellent values to be had.
The Ko Olina Hillside Villas
Ko Olina Hillside Villas listings
I hope you will find this to be a good introduction to the many choices that are available in Ko Olina Resort and Marina. I also hope that you will feel free to contact me if you have any questions about this magical place known as Ko Olina... or as it would be translated from her Hawaiian name, Place of Joy... and it truly is.
Michael's Real Estate website
Ko Olina & the Disney resort
As the pages of the calendar fall to the floor, what seemed a distant event begins to appear closer. From the first time I heard the rumor, it was easy to believe and easy to imagine. Disney was going to build a hotel in Ko Olina.
The Disney family is a pretty good family to have moving into our neighborhood! Not only for the investment and jobs that will be brought, but for the quality of the corporation and the people who are part of it.
Ihilani Hotel - Marriott Disney site Beach Villas Marriott Beach
Club timeshares
I had the pleasure of working with a large company move when the Santa Fe Railroad moved their Locomotive repair shop and other support services from San Bernardino, Albuquerque and Euless, Texas to Topeka, Kansas. It was over several years and being a REALTOR was redefined to me during that experience. I personally visited each of the locations that was being effected by the move and met with workers and their families to answer a multitude of questions that came up. We actually rented conference rooms in the hotels and invited transferees to come with their families and ask about Topeka. During those trips, I spoke to hundreds of people.
What I learned was that in each family, a move to a far away place was way beyond the house they would be living in. Schools for the children, jobs and unemployment benefits for the trailing spouses, the community in general, tax events, cost of living, doctors and health concerns were often more of what we talked about than Real Estate. In many cases, we were the first person they knew in the town they were learning they were going to be calling home. I was involved in a lot of transactions, but more enjoyably, I was involved in a lot of lives and think I was able to provide a valuable service throughout the experience.
The internet was not was it is then. I suppose that many answers will be able to be answered with Google and websites. It will be interesting to watch the process as it unfolds and people begin to come to town. I hope I'm able to make that transition more comfortable and easy as they do. In the meantime, I will start to add references and things that someone moving here might find interesting.
As I have said before in this forum, Ko Olina is a beautiful place and since this will be the first time Disney will build a Hotel without an accompanying park, I think that speaks volumes of how beautiful the area is on her own merits. The planned hotel site is located on a crescent shaped lagoon and will be built between the Ihilani Hotel, a 5 star Marriott property and the Beach Villas which are brand new residence villas which are the first year round residence opportunities on any of the 4 Ko Olina Lagoons.
A wonderful beach trail connects the 4 lagoons on a mile and a half coastline trail. There are 5 other communities within the gates of Ko Olina which are Kai Lani, Coconut Plantation, Ko Olina Kai, Ko Olina Hillside and Ko Olina Fairways. Several of them are built along the perimeter of the Ko Olina Golf Course which is world class and currently Michelle Wie's home course. Lastly, there is a beautiful marina with nearly 300 slips in what is one of if not the best marinas in the State of Hawaii.
Ko Olina is officially within the city limits of Kapolei and is a neighborhood more than an independent city. I would guess that the 5 communities have over 1,500 residences between them within walking distance to the new hotel site. The school district is Kapolei and it has several new schools and bus service to them from Ko Olina. Ko Olina is about 3 miles away from the center of Ko Olina and I think you'll find the area a good place to live as well as a great place to raise a family.
More to come!
The Disney family is a pretty good family to have moving into our neighborhood! Not only for the investment and jobs that will be brought, but for the quality of the corporation and the people who are part of it.
Ihilani Hotel - Marriott Disney site Beach Villas Marriott Beach
Club timeshares
I had the pleasure of working with a large company move when the Santa Fe Railroad moved their Locomotive repair shop and other support services from San Bernardino, Albuquerque and Euless, Texas to Topeka, Kansas. It was over several years and being a REALTOR was redefined to me during that experience. I personally visited each of the locations that was being effected by the move and met with workers and their families to answer a multitude of questions that came up. We actually rented conference rooms in the hotels and invited transferees to come with their families and ask about Topeka. During those trips, I spoke to hundreds of people.
What I learned was that in each family, a move to a far away place was way beyond the house they would be living in. Schools for the children, jobs and unemployment benefits for the trailing spouses, the community in general, tax events, cost of living, doctors and health concerns were often more of what we talked about than Real Estate. In many cases, we were the first person they knew in the town they were learning they were going to be calling home. I was involved in a lot of transactions, but more enjoyably, I was involved in a lot of lives and think I was able to provide a valuable service throughout the experience.
The internet was not was it is then. I suppose that many answers will be able to be answered with Google and websites. It will be interesting to watch the process as it unfolds and people begin to come to town. I hope I'm able to make that transition more comfortable and easy as they do. In the meantime, I will start to add references and things that someone moving here might find interesting.
As I have said before in this forum, Ko Olina is a beautiful place and since this will be the first time Disney will build a Hotel without an accompanying park, I think that speaks volumes of how beautiful the area is on her own merits. The planned hotel site is located on a crescent shaped lagoon and will be built between the Ihilani Hotel, a 5 star Marriott property and the Beach Villas which are brand new residence villas which are the first year round residence opportunities on any of the 4 Ko Olina Lagoons.
A wonderful beach trail connects the 4 lagoons on a mile and a half coastline trail. There are 5 other communities within the gates of Ko Olina which are Kai Lani, Coconut Plantation, Ko Olina Kai, Ko Olina Hillside and Ko Olina Fairways. Several of them are built along the perimeter of the Ko Olina Golf Course which is world class and currently Michelle Wie's home course. Lastly, there is a beautiful marina with nearly 300 slips in what is one of if not the best marinas in the State of Hawaii.
Ko Olina is officially within the city limits of Kapolei and is a neighborhood more than an independent city. I would guess that the 5 communities have over 1,500 residences between them within walking distance to the new hotel site. The school district is Kapolei and it has several new schools and bus service to them from Ko Olina. Ko Olina is about 3 miles away from the center of Ko Olina and I think you'll find the area a good place to live as well as a great place to raise a family.
More to come!
WolfgangsVault.com
I was thinking the other day about our move to Oahu and I thought how much easier the move had been with the advent of all the modern miracles that surround us. When we told our friends of our intent, we were warned of "Island Fever", that claustrophobic feeling of being trapped on an Island, as well as countless other reasons to not move here, all of which I'm glad to say have yet to manifest themselves. In fact, after a little more than a year, I am only now starting to feel as though I am beginning to understand how vast Oahu is, let alone her sister Islands that we have yet to really explore at all.
There was also the thought of isolation from all that we had known... friends, family, familiar places, all of which we have been able to stay in touch with and even had the pleasure of hosting in our new surroundings. That is the magic of the aforementioned modern miracles. I think the move would have been harder without email, without cable and cell phones and without mapquest and google I'm not sure if we would have survived. Throw in jet planes, overnight delivery, Costco and cable news and I don't feel as though I've given up a thing. And what we've gotten in return has been a life we only imagined.
I am of the age that the internet and all it has to offer constantly amazes me. While talking to my longest friend the other day, he told me of one more wonder of the internet. The site is called WolfgangsVault.com, and it is an amazing place. They have a library of concerts that I can't wait to explore. There are concerts that we actually went to in the '60s and 70's and it is truly a blast to click on a favorite performer and remember when. Now, not only can I go San Francisco, LA or anywhere else with a click of the mouse... but I can even find myself at the doors of the Fillmore with tickets in my hands.
I hope you enjoy the site as much as I do and if you find a good show, let me know. "As long as there is music..."
Kapolei to have Hawaii's largest solar farm
Tentative agreements have been reached for a 12 acre Solar farm to be
built on 12 acres of James Campbell Co. land next to the
Campbell Industrial Park. The energy production farm is to
be built by a subsidiary of Hoku Scientific Inc., a Kapolei
Company.
built on 12 acres of James Campbell Co. land next to the
Campbell Industrial Park. The energy production farm is to
be built by a subsidiary of Hoku Scientific Inc., a Kapolei
Company.
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I hope this becomes a harbringer of the future! If we have one resource with unlimited supply in Kapolei, it is sunshine. According to reports, the farm would be capable of generating 1.5 megawatts of photovoltaic power. It is estimated that over the 25 year life of the system, it would produce enough electricity for approximately 6,700 homes for one year.
Hoku Solar would be responsible for designing, engineering, financing, procuring, installing and operating the solar facility. The company would lease the property from Campbell, which has also promised to help market the energy.
Hoku Solar provides turnkey photovoltaic system installations in Hawai'i for commercial and residential applications. This would be the company's first development of a photovoltaic energy farm and it would rank among the largest in the country. Hoku Solar officials believe only one such photovoltaic farm exists in Hawai'i — a 1.75-kilowatt system at Waimea's Parker Ranch on the Big Island that was installed in 2001.
Scott Paul, Hoku Scientific vice president and general counsel, estimated the cost of the new development at $10 million to $15 million.
These are the types of steps I am happy to see and will hopefully become more common in the next few years.
Hawaiian Slack Key
In case you haven't noticed yet, I find it hard to list the ways that I love Hawaii and her people and culture. One of the experiences I've had the opportunity to be exposed to on a very personal level is Hawaiian Music.
Robert, remember Robert... originally our boat broker, has also helped to expose
us to the vast world of Hawaiian Music. For me, it is beautiful and so are the people who perform it. We've had the opportunity to meet musicians, and talk story with
them as well as hear and watch as they perform. The one common thread seems to
be the love they have for the music and it's heritage.
Slack-key guitar is a fingerstyle genre of guitar music that originated in Hawaiʻi.
Its name refers to its characteristic tuning: the English term is a translation of the Hawaiian kī hōʻalu, which means "loosen the [tuning] key". Most slack-key tunings
can be achieved by starting with a classically-tuned guitar and detuning or "slacking" one or more of the strings until the six strings form a single chord, frequently G major.
For a history of Slack key and much more information... http://en.wikipedia.org/wiki/Slack-key
From performances in libraries, to small clubs and intimate performances to more formal settings, we have had a chance to meet and enjoy several musicians and I
hope you have a chance to do the same. It is exciting and soothing at the same
time. Here is a site where you can see coming performances in your area, whether
you are on the mainland or one of the islands here.
http://edit.cisdata.net/bin/web/real_estate?acnt=AR243140&ZKEY=e09afd720c0b67eeb1730764954e4c36&action=
ACTIVATE_FRAMES&button=&linkout_sourcepage=LOCAL_INFO&tm=&linkout=
http%3A%2F%2Fwww.dancingcat.com%2Findex.php
I bring it up today, because we went to the Hawaiian Public Radio Atherton Winter series and saw Cindy Combs play her music. It was wonderful. An accoustical evening of local music with stories as well as songs. I hope you have a chance to spend an evening listening to this wonderful style of music.
http://www.hawaiipublicradio.org/hpr/index.php?option=com_content&task=view&id=29&Itemid=51
And lastly, if you enjoy youtube, there are several offerings there. Search "hawaiian slack key" and you'll find quite a variety. www.youtube.com
Robert, remember Robert... originally our boat broker, has also helped to expose
us to the vast world of Hawaiian Music. For me, it is beautiful and so are the people who perform it. We've had the opportunity to meet musicians, and talk story with
them as well as hear and watch as they perform. The one common thread seems to
be the love they have for the music and it's heritage.
Slack-key guitar is a fingerstyle genre of guitar music that originated in Hawaiʻi.
Its name refers to its characteristic tuning: the English term is a translation of the Hawaiian kī hōʻalu, which means "loosen the [tuning] key". Most slack-key tunings
can be achieved by starting with a classically-tuned guitar and detuning or "slacking" one or more of the strings until the six strings form a single chord, frequently G major.
For a history of Slack key and much more information... http://en.wikipedia.org/wiki/Slack-key
From performances in libraries, to small clubs and intimate performances to more formal settings, we have had a chance to meet and enjoy several musicians and I
hope you have a chance to do the same. It is exciting and soothing at the same
time. Here is a site where you can see coming performances in your area, whether
you are on the mainland or one of the islands here.
http://edit.cisdata.net/bin/web/real_estate?acnt=AR243140&ZKEY=e09afd720c0b67eeb1730764954e4c36&action=
ACTIVATE_FRAMES&button=&linkout_sourcepage=LOCAL_INFO&tm=&linkout=
http%3A%2F%2Fwww.dancingcat.com%2Findex.php
I bring it up today, because we went to the Hawaiian Public Radio Atherton Winter series and saw Cindy Combs play her music. It was wonderful. An accoustical evening of local music with stories as well as songs. I hope you have a chance to spend an evening listening to this wonderful style of music.
http://www.hawaiipublicradio.org/hpr/index.php?option=com_content&task=view&id=29&Itemid=51
And lastly, if you enjoy youtube, there are several offerings there. Search "hawaiian slack key" and you'll find quite a variety. www.youtube.com
Oahu and Kapolei Gasoline prices
For those of you without the advantage of being able to drive by the local service station to see the prices of gasoline here, I thought the latest information on costs
per gallon would be informative. As you can tell, while higher than the national average, the rate of increase is significantly less than the national average. A good news/bad news type of report. The average price of a gallon of regular gasoline in Hawaii costs about one-fifth more than it was a year ago, according to data from the American Automobile Association.
per gallon would be informative. As you can tell, while higher than the national average, the rate of increase is significantly less than the national average. A good news/bad news type of report. The average price of a gallon of regular gasoline in Hawaii costs about one-fifth more than it was a year ago, according to data from the American Automobile Association.
The AAA's Fuel Gauge Report Web site shows Hawaii's statewide average rose to $3.481 from $2.909 a year earlier, a gain of about 20 percent. The national average increased at a faster pace during the year, rising to $3.033 from $2.209. That was 37 percent higher than a year earlier.
For those of you moving to Oahu, our island's average is less than Hawaii, and for reference purposes, I purchased gasoline in Kapolei for $3.37 in Kapolei last night. Had I not been on empty, with a trip to town (Honolulu) in the near future, I'd have waited like I usually do to go to the Costco on the way where there is usually about a 5 cents saving. The site also showed Honolulu's average price rose also. The average price for a gallon rose to $3.361 from $2.823 a year ago.
The exciting aspect of this for us Kapolei residents is that those trips to Honolulu should begin to be less necessary as the Commercial expansion will explode in the next year to two in Kapolei with names like Costco, Best Buy, Target, Walmart all scheduled to open in our marketplace. Those names, along with the largest Mall in
the state and our own University will make an amazing transformation of the job opportunities as well as our true coming into our own as "Oahu's second city".
As talk of recession, depressed housing starts and a declining middle class are reported across the country, Kapolei/Ko Olina seemed to be bucking the trend.
From transportation contracts (roads, highways, light rail system) to commercial expansion to resort investment (Disney Hotel in Ko Olina) we are truly alive and
well here.
Here are two links that are relevant to the article that you might find interesting.
Here is gasoline costs on Oahu:
http://gas prices.mapquest.com/searchresults.jsp?search=true&city=KAPOLEI&stateProvince=HI&postalCode=
96707&gasPriceType=3,4,5&radius=10
Here is the website to the University of Hawaii, West Oahu. I find the addition of
this campus to be a tremendously exciting development in our town.
http://westoahu.hawaii.edu/
Using Multiple Listing Service (MLS) to your full ability
Looking back over the last 20 years in the real estate industry, I was remembering the "Old days". The excitement as the new book came out every two weeks with the "new" listings that ranged from 4 weeks old to 1 week old. Fax machines and overnight express which allowed us to be within days of our out of state clients versus a week or two depending on the mail. Land lines went to car phones and then to cell phones, until today we can carry our contracts, listing inventory, computers and phones in our top pocket.
2,800 baud modems which morphed to 28.8K, 56K and then DSL and cable. I actually attended the NAR meeting in Boston in the mid 90's as a representative from our Board in Topeka, Kansas when NAR rolled out REALTOR.com and spoke of the future of Real Estate on the internet. Webstreaming, virtual tours, IDX and so many other technological advancements, bring us to where we are today.
The one thing that is as important, if not even more so now, is knowing about listings as they become available, what has sold and for how much, who has reduced their asking price and what is currently available. As REALTORS, we continue to be the stewards of this data, and I believe we have worked exceptionally well together to make the information accessible and embrace the proposition that an informed public is better for our overall business than to try and restrict access to the information. For those of us who were in those conversations over the years of all the changes that were going to destroy the business, everything seems to have worked out pretty well.
I have come to categorize Real Estate websites into 2 broad categories. Those with MLS access (IDX) and those without. The ability for a consumer to come to my website and search the broad Oahu real estate market or to fine tune their search to individual neighborhoods and price ranges is a great service and is just the beginning of all that the MLS is capable of.
Buyers can not only see what is available, but over time, understand the rhythm of new listings as they come on to the market and then sell. They can see how the prices reflect the competitive marketplace and what sells and what doesn't. Customized searches of specific requirements they have beyond price and bedrooms are possible, so that when a hard to find property does become available, they will be alerted to it by email immediately. All these things have made us better as REALTORS and able to honestly provide the best services possible to our clients and to our listings.
Not only are sellers able to utilize the historical data to make informed decisions as to their market values, but they are also able to receive so much more than that with a little effort by themselves or their agents. Email notifications of new listings that are competitive to theirs as they come onto the market keep them informed of their competition in real time. Notification of new pending properties that were competing with theirs let them evaluate why the consumer chose that property over theirs. Potential sellers can use the same notifications to ensure themselves that the market is there and give them confidence to place their homes on the market.
Renters canperch on the doorway of the market, watching and waiting until that home they never thought they'd find miraculously becomes available. Ongoing professional counseling from their REALTOR during the "watch" period can provide them with the guidance to obtain pre approvals from reputable lenders in hand, to enter into month to month leases while they are waiting and help them develop a solid confidence of their understanding of the market. What could be better for everyone than a buyer who is emotionally and technically prepared to initiate a purchase agreement when the perfect opportunity presents itself to them. How many times has the opportunity been lost when by the time preliminary details were taken care of, the home was already under contract by someone else? That is hard on everyone and more often than not, avoidable with quality customer care.
It's not only what is available today, but it is what is going to be on the market tomorrow, next week or next month. I have my own personal dream searches that occasionally send myself an email! Ocean front with a minimum # of bedrooms, fee simple with condition unimportant. Until then, I am content on the boat... but I'm always just an email away from my favorite REALTOR (moi) to tell me that there is a new house on the market I should really take a look at... TODAY, file in hand!
If you'd like to visit my website and explore my MLS access, please visit www.HomesOahuHawaii.com .
If you are interested in the Oahu real estate market, ask me to send you the free report through the form on the side bar and see the trends and activity of our market for yourself.
The Real Estate market in Oahu, Hawaii is a great place to be right now. The Kapolei / Ko Olina area is booming with thousands of homes scheduled to be built and growth is everywhere you look. It is different that it was 2 years ago and 2 years from now it will be a different market again, but informed buyers and sellers will find opportunities in every market and todays is no exception.
"May you live in interesting times" is a quote I've always enjoyed. Indeed we do!
2,800 baud modems which morphed to 28.8K, 56K and then DSL and cable. I actually attended the NAR meeting in Boston in the mid 90's as a representative from our Board in Topeka, Kansas when NAR rolled out REALTOR.com and spoke of the future of Real Estate on the internet. Webstreaming, virtual tours, IDX and so many other technological advancements, bring us to where we are today.
The one thing that is as important, if not even more so now, is knowing about listings as they become available, what has sold and for how much, who has reduced their asking price and what is currently available. As REALTORS, we continue to be the stewards of this data, and I believe we have worked exceptionally well together to make the information accessible and embrace the proposition that an informed public is better for our overall business than to try and restrict access to the information. For those of us who were in those conversations over the years of all the changes that were going to destroy the business, everything seems to have worked out pretty well.
I have come to categorize Real Estate websites into 2 broad categories. Those with MLS access (IDX) and those without. The ability for a consumer to come to my website and search the broad Oahu real estate market or to fine tune their search to individual neighborhoods and price ranges is a great service and is just the beginning of all that the MLS is capable of.
Buyers can not only see what is available, but over time, understand the rhythm of new listings as they come on to the market and then sell. They can see how the prices reflect the competitive marketplace and what sells and what doesn't. Customized searches of specific requirements they have beyond price and bedrooms are possible, so that when a hard to find property does become available, they will be alerted to it by email immediately. All these things have made us better as REALTORS and able to honestly provide the best services possible to our clients and to our listings.
Not only are sellers able to utilize the historical data to make informed decisions as to their market values, but they are also able to receive so much more than that with a little effort by themselves or their agents. Email notifications of new listings that are competitive to theirs as they come onto the market keep them informed of their competition in real time. Notification of new pending properties that were competing with theirs let them evaluate why the consumer chose that property over theirs. Potential sellers can use the same notifications to ensure themselves that the market is there and give them confidence to place their homes on the market.
Renters canperch on the doorway of the market, watching and waiting until that home they never thought they'd find miraculously becomes available. Ongoing professional counseling from their REALTOR during the "watch" period can provide them with the guidance to obtain pre approvals from reputable lenders in hand, to enter into month to month leases while they are waiting and help them develop a solid confidence of their understanding of the market. What could be better for everyone than a buyer who is emotionally and technically prepared to initiate a purchase agreement when the perfect opportunity presents itself to them. How many times has the opportunity been lost when by the time preliminary details were taken care of, the home was already under contract by someone else? That is hard on everyone and more often than not, avoidable with quality customer care.
It's not only what is available today, but it is what is going to be on the market tomorrow, next week or next month. I have my own personal dream searches that occasionally send myself an email! Ocean front with a minimum # of bedrooms, fee simple with condition unimportant. Until then, I am content on the boat... but I'm always just an email away from my favorite REALTOR (moi) to tell me that there is a new house on the market I should really take a look at... TODAY, file in hand!
If you'd like to visit my website and explore my MLS access, please visit www.HomesOahuHawaii.com .
If you are interested in the Oahu real estate market, ask me to send you the free report through the form on the side bar and see the trends and activity of our market for yourself.
The Real Estate market in Oahu, Hawaii is a great place to be right now. The Kapolei / Ko Olina area is booming with thousands of homes scheduled to be built and growth is everywhere you look. It is different that it was 2 years ago and 2 years from now it will be a different market again, but informed buyers and sellers will find opportunities in every market and todays is no exception.
"May you live in interesting times" is a quote I've always enjoyed. Indeed we do!
YTD Real Estate Market Report Oahu-Hawaii
The end of the year numbers are in and I give my thanks to Board of REALTORS for
the outstanding job they do of compiling the data and giving us members such a
great tool to view the market and the trends.
Here is a portion of the report that highlights three key components of the
Market. Median sale price, Unit sales based on a rolling 12 month average and
Months of inventory based on current sales, DOM and current listing inventory.
To be honest, the broad market is comparatively good analytically compared to how
it seems to "feel" sometimes. The most dramatic change in the last 12 months in
my opinion is the unit drop, but that is offset by the nearly static sale price over
the same time period.
The inventory report shows a lengthening of time required to deplete the
inventory. Overall, most markets and price ranges reflect an increase of 1
month +/- which is significant increase as a percentage.
Most of all what the chart tells me is that the homes that are priced competitively
in their ranges will sell and that the listings that are overpriced will languish. A
great market to be a qualified buyer with nothing to sell. For owners of real estate
who have held property since 2000, their gain may not be as much as they thought,
but they should be significant and for those who purchased their homes as recently
as 2004, their appreciation could be expected to still average 20%+ as compared
to their purchase. The sobering side of the chart is that nearly all of that
appreciation occurred during 2005, with 2006 and 2007 being nearly flat from a
broad market view.
If anyone would like to have the complete report emailed to them, visit my
website at www.HomesOahuHawaii.com and register for the free report and I'll
email you a copy post haste.
Personally I am very excited about 2008 and think that between the potential
of Federal intervention in the lending industry, election year politics and the
phenomenal growth of my primary market in the Kapolei / Ko Olina area that
we will see a healthy and robust albeit steadier than the past market
Pricing on the sellers point and premium financial condition on the buyers
point will be the largest factors in their respective categories.
Hope you find the data interesting.
Michael
'
the outstanding job they do of compiling the data and giving us members such a
great tool to view the market and the trends.
Here is a portion of the report that highlights three key components of the
Market. Median sale price, Unit sales based on a rolling 12 month average and
Months of inventory based on current sales, DOM and current listing inventory.
To be honest, the broad market is comparatively good analytically compared to how
it seems to "feel" sometimes. The most dramatic change in the last 12 months in
my opinion is the unit drop, but that is offset by the nearly static sale price over
the same time period.
The inventory report shows a lengthening of time required to deplete the
inventory. Overall, most markets and price ranges reflect an increase of 1
month +/- which is significant increase as a percentage.
Most of all what the chart tells me is that the homes that are priced competitively
in their ranges will sell and that the listings that are overpriced will languish. A
great market to be a qualified buyer with nothing to sell. For owners of real estate
who have held property since 2000, their gain may not be as much as they thought,
but they should be significant and for those who purchased their homes as recently
as 2004, their appreciation could be expected to still average 20%+ as compared
to their purchase. The sobering side of the chart is that nearly all of that
appreciation occurred during 2005, with 2006 and 2007 being nearly flat from a
broad market view.
If anyone would like to have the complete report emailed to them, visit my
website at www.HomesOahuHawaii.com and register for the free report and I'll
email you a copy post haste.
Personally I am very excited about 2008 and think that between the potential
of Federal intervention in the lending industry, election year politics and the
phenomenal growth of my primary market in the Kapolei / Ko Olina area that
we will see a healthy and robust albeit steadier than the past market
Pricing on the sellers point and premium financial condition on the buyers
point will be the largest factors in their respective categories.
Hope you find the data interesting.
Michael
'
Those pesky termites
I am in awe of the insect world. In my past life in Kansas, termites, termite inspections and the occasional termite repair were transactional inconveniences which were most commonly a call to the seller with the bad news. A mud run on the foundation or an infested fence post near the house. Occasionally there might be damage to a porch stoop, but I can't remember ever having repairs that couldn't be completed for $500.
Meanwhile, back in Hawaii...
I will be marketing a REO property which recently came under my tutelage. I had the opportunity to spend some time at the property today with the Pest Control company, and while we surveyed the damage, he told me tales of the Formosa Subterranean Termite. Again... we're not in Kansas anymore!
As the bids are being prepared, the portion of the bids directly attributable to the damage by this wily Queen and her average 3 million loyal subjects looks to be in the area of $25,000 to $30,000. That will be to repair the best guess of damage. The bid will also have a time and material clause for damage which could only be discovered after the siding and door jams are removed and the wall studs can be inspected. The cost could go way up from there.
Add to that the additional expense of removing and repairing porch overhangs, window and trim boards as well as interior sheet rock and repainting the complete interior and exterior... and I'm sure you can see how expensive the overall repairs will be. The cost to treat a home on precautionary note would be less than a thousand dollars and the cost of an inspection would be free in some cases, or minimal in the diligence stage of purchase agreement.
When I asked the pest control company how this house would rate on a scale of 1 to 10 on infestations they have had experience with he thought it about a 5. That was when I was really a believer! My broker told me that under the proper circumstances, a home can be essentially consumed by a colony in a years time. Granted, there would be signs during that year, but in a rental situation or a part time 2nd home, you might make the discovery much later than you wished you had.
So today will be the day and the story I tell when I'm working with the purchaser who is debating whether or not they should get a termite inspection. When a tenant calls to say they noticed some mud in the corner of the room of one of my rentals, I will remember the paper thin shell of the siding on this home and immediately call a pest company to come and make an inspection. This will be the experience I recall when I am listing a home and recommend to the seller that we get the termite inspection at the time of listing, instead of waiting for escrow only to discover it later.
I like to think this might save someone from an unanticipated expense of termites. Maybe an inspection before they purchase or a call to an inspector in the home they live in at an early stage versus a late stage. I always knew that termites were voracious and once they appeared they needed to be eradicated, but I learned today the exponential nature of this species. The colonies can be as much greater than the average colonies and the Queen can be 50 feet below the surface and quite a distance laterally from the affected property. The loyal subjects do not sleep... they just fill their stomachs with wood,take it to the nest like a little wheelbarrow with legs, empty their wheelbarrow to provide food for the nest and then repeat the process 24 hours a day, 7 days a week.
The good news is that I don't have any excuse now to underestimate them and it is one of my few free lessons that I've learned in Real Estate. So that is a good thing!
Meanwhile, back in Hawaii...
I will be marketing a REO property which recently came under my tutelage. I had the opportunity to spend some time at the property today with the Pest Control company, and while we surveyed the damage, he told me tales of the Formosa Subterranean Termite. Again... we're not in Kansas anymore!
As the bids are being prepared, the portion of the bids directly attributable to the damage by this wily Queen and her average 3 million loyal subjects looks to be in the area of $25,000 to $30,000. That will be to repair the best guess of damage. The bid will also have a time and material clause for damage which could only be discovered after the siding and door jams are removed and the wall studs can be inspected. The cost could go way up from there.
Add to that the additional expense of removing and repairing porch overhangs, window and trim boards as well as interior sheet rock and repainting the complete interior and exterior... and I'm sure you can see how expensive the overall repairs will be. The cost to treat a home on precautionary note would be less than a thousand dollars and the cost of an inspection would be free in some cases, or minimal in the diligence stage of purchase agreement.
When I asked the pest control company how this house would rate on a scale of 1 to 10 on infestations they have had experience with he thought it about a 5. That was when I was really a believer! My broker told me that under the proper circumstances, a home can be essentially consumed by a colony in a years time. Granted, there would be signs during that year, but in a rental situation or a part time 2nd home, you might make the discovery much later than you wished you had.
So today will be the day and the story I tell when I'm working with the purchaser who is debating whether or not they should get a termite inspection. When a tenant calls to say they noticed some mud in the corner of the room of one of my rentals, I will remember the paper thin shell of the siding on this home and immediately call a pest company to come and make an inspection. This will be the experience I recall when I am listing a home and recommend to the seller that we get the termite inspection at the time of listing, instead of waiting for escrow only to discover it later.
I like to think this might save someone from an unanticipated expense of termites. Maybe an inspection before they purchase or a call to an inspector in the home they live in at an early stage versus a late stage. I always knew that termites were voracious and once they appeared they needed to be eradicated, but I learned today the exponential nature of this species. The colonies can be as much greater than the average colonies and the Queen can be 50 feet below the surface and quite a distance laterally from the affected property. The loyal subjects do not sleep... they just fill their stomachs with wood,take it to the nest like a little wheelbarrow with legs, empty their wheelbarrow to provide food for the nest and then repeat the process 24 hours a day, 7 days a week.
The good news is that I don't have any excuse now to underestimate them and it is one of my few free lessons that I've learned in Real Estate. So that is a good thing!
The Leeward side
I'm a child of the 60's and have always felt fortunate to have spent my formative years in Southern California. I remember going to Newport, Huntington and Laguna beach as a child in the early 60's and as a teen in the late 60's. When I go back there now, they have changed so much.
The Leeward coast of Oahu from Kapolei to the end of 93 north of Makaha reminds me so much of the Pacific Coast Highway way back then. For me, it is like going back in time to a simpler time and place. Beautiful coastlines, sprawling beaches that are uncrowded in the busiest of times and almost deserted most times, it is a special place for me. The community along the highway is a wonderfully diverse blend of native, local and tourist and Aloha can be found waiting for you behind every door.
Surfers share their beache
The Leeward coast of Oahu from Kapolei to the end of 93 north of Makaha reminds me so much of the Pacific Coast Highway way back then. For me, it is like going back in time to a simpler time and place. Beautiful coastlines, sprawling beaches that are uncrowded in the busiest of times and almost deserted most times, it is a special place for me. The community along the highway is a wonderfully diverse blend of native, local and tourist and Aloha can be found waiting for you behind every door.
Surfers share their beache