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November 19th, 2009 John Riggins Posted in Oahu real estate |
Listing prices for Oahu real estate are approximately 10% lower than they were 6 months ago
Sales volume may be improving but home prices are down on Oahu. Data from the last 6 months, available to see on Trulia.com, shows that home prices in Honolulu have been reduced 10%. Great news for buyers, sobering news for sellers. A recent article in the Star Bulletin quotes John Riggins as stating “It’s imperative in this market that sellers price their homes competitively.” According to John Riggins, “There weren’t any Oahu neighborhoods that saw price increases last year and only a very few have begun to show increases in the last few months. Most sellers are still going to have to list their homes below the last comparable sales in their neighborhood.”
For a house to sell on Oahu, it not only has to look better than the next house for sale but it also has to be priced better. The tax credit extension and expansion may have more people looking but those that want to sell their Oahu real estate and trade up are going to have to price their homes competitively if they want to sell.
For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.
November 13th, 2009 John Riggins Posted in KO OLINA RESORT, Ko Olina real estate, oahu |
Golf enthusiasts will enjoy the Ko'Olina Golf Club on the island of Oahu
As the northern states start preparing for winter golf enthusiasts may be mourning the end of a season. The good news is that there are many places where the golf season never ends one favorite being the Ko’Olina Golf Club on Oahu. The Ko’Olina Golf Club offers a wonderful golf course which has hosted a variety of golf tournaments, including the LPGA. Playing golf is always more enjoyable in a beautiful setting and this Oahu location offers a stunning landscape filled with lush gardens and ocean views.
For families who like to vacation together but not necessarily all play golf together the Ko’Olina Resort has many amenities to enjoy. From stunning beaches to shopping this Oahu resort has something for everyone.
November 11th, 2009 John Riggins Posted in HAWAII NEWS, oahu |
The rail project on Oahu is supported by Hawaiian businesses
The Oahu rail project is supported by businesses across the state of Hawaii. The rail project is expected to reduce congestion and therefore create more traffic for businesses. The most congested traffic in the state of Hawaii is on the stretch of roadway between Kapolei and Honolulu. The rail project on Oahu will allow people to avoid driving, therefore reducing traffic and making their own commute much more tolerable. Easing congestion is seen as a way to boost commerce on the island of Oahu.
Another benefit of the Oahu rail project is job creation. This project could not come at a better time, when unemployment levels are rising. The rail project will help boost the overall economy on Oahu.
For more information on the rail project click here.
November 9th, 2009 John Riggins Posted in Oahu real estate, oahu |
The newly expanded tax credit is great for Oahu real estate
The newly extended and expanded tax credit is sure to benefit real estate on Oahu. There is no doubt that the First Time Home Buyer Tax Credit helped to boost real estate sales on Oahu. The expanded version of the tax credit now includes current home owners that have owned their home for at least five years. What does this mean for Oahu real estate owners? If someone has owned in a home on Oahu for at least 5 years and they want to trade up and buy a bigger home they can get up to a $6,500 credit at closing.
The tax credit has been extended into 2010. Any properties need to be a primary residence and have to be under contract by April 30, 2010 and closed by June 30 2010. The credit is available for real estate valued at up to $800,000 and the income restrictions are $125,000 for an individual and $225,000 for a couple.
If you would like to purchase a home for the first time on Oahu or trade up, contact John Riggins today.
November 7th, 2009 John Riggins Posted in Oahu foreclosures, Oahu real estate, oahu |
Using a CDPE can help make purchasing foreclosure property on Oahu successful
Short sale and foreclosure properties, prevalent on Oahu, are also known as distressed properties. While unfortunate for the home owner, distressed properties can off great opportunities for the Oahu real estate investor, sometimes that is. A potential buyer is much better served buying distressed property with and experienced broker, a broker who has a knowledge of distressed property sales. CDPE (Certified Distressed Property Expert) is a classification for such brokers. NAR (National Association of Realtors) has also come up with a new classification, SFR (Short Sale & Foreclosure Certification Program). In either classification the real estate broker is trained to handle short sale, foreclosure and REO transactions, which are much more complex and time consuming than traditional real estate transactions.
If you are looking to purchase distressed property on Oahu contact John Riggins today. John Riggins is an experienced CDPE who can help make your real estate
November 3rd, 2009 John Riggins Posted in Oahu real estate, oahu |
Oahu real estate sales increased in October
Good news for anyone interested in Oahu real estate, reports show that sales were up in October. Both single family home sales and condo sales improved on Oahu. According to the Honolulu Board of Realtors 281 single family homes and 381 condos closed in October. This is not only a significant increase from September but also a significant increase from October 2008.
The rise in home sales is a positive sign. While property values are lower than last year, seeing the sales volume pick up is a sign of Oahu real estate getting healthier. The First Time Home Buyer Tax Credit expires at the end of the month and the anticipation of it coming to an end has probably contributed to many of October’s sales.
