Oahu Life and Elena's Real Estate updates

Lowest priced Unit in Luana Waikiki Condotel # 703 

Priced $173,000 

Located in the beginning of the Waikiki Strip, next to Waikiki beach . Unit overlooking Fort DeRussey. Fully furnished turnkey unit, currently in the Outrigger Hotel Program. Perfect for vacation, usage and income property.

Remodeled Hotel Condo in Honolulu in 2004 with travertine floors, hardwood cabinets, granite counter tops and island decor.  

 Income paid to the seller since 2007 available per your request ($35,571.36 was paid to the seller in 2010. )

Luana Waikiki gets great reviews on websites:  Traveler Reviews

What's a Condotel?

If you're not familiar with the term, condotel refers to a hotel which has been converted to condominiums.

Financing for Condotels

Financing is pretty much non-existent.  Lenders generally are only interested in financing residential properties with full sized appliances (refrigerator and stove).  Condotels such as Luana Waikiki Studio Units have mini fridges and microwaves.   Condotels are basically for cash buyers.

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Недвижимость на Гавайях

Благодарю вас за посещение моего сайта . Вы найдете на его страницах полезную нформацию о рынке недвижимости на всех Гавайских Островах

В настоящее время я работаю в одной из крупнейших местных агентств  по продаже едвижимости Prudential Locations, LLC .  

Я имею многолетний опыт по продаже элитной недвижимости на Гавайях и cудовольствием поделюсь знаниями, опытом и идеями

На Гавайях существует два вида владения собственностью: безусловное право собственности Фии Симпл  (FS - Fee Simple) и Лисхолд  (LH -Lease Hold ), покупка недвижимости на правах аренды… или другими словами  ..цена недвижимости не включает стоимость земли.

Гавайи как курорт международного назначения может похвастаться что цены на недвижимость на Гаваях и особенно острове Оаху cтабилизировались.

В ряд причин по которым Все больше и больше людей выбирают Гавайи для вкладывания денег в недвижимость входят :

Гавайи имеют наивысшую арендную плату в Америке. Стоимость рента (стоимость съёма крартир ) очень высока, но конечно, как и стоимость жилья,  целиком зависит от района.

Средние арендные платы в Гавайях удваиваются каждые 20 лет. Срединная цена отдельного дома - на Оаху сегодня - $643,500 . Десять лет назад это былo $ 307,000  и за десять лет до этого, который это былo $ 190,200

Гавайи популярны на рынке недвижимости второго дома (second home)  курорта из за географического расположения и климата

Гавайи вторые в списке Америких штатов по числу людей, кто удовлетворен их качеством жизни (82.4 процента)

Здесь очень регулируемое новое строительство и нехватка доступной земли , что способствует что бы рост строительства не превышал спрос , а спрос очень велик несмотря на высокие цены

Основной фактор, определяющий стоимость недвижимости на Гавайях, – это район жилья. Eсли у вас есть вопросы обращайтесь непостедственно ко мне , буду рада поделиться опытом жизни на Гаваях.  Предоставлю  данные по Местным Рыночным ценам в зависимости от района Оаху

Если Вы решили купить или продать недвижимость на Оаху, я буду рада иметь возможность представлять Вас и Ваши интересы.

По законам штата Гавайи агент не имеет права рекламитовать или обсуждать условия продажи и цены если у него нет активной лицензии агента по недвижимости на Гавайских островах.

Елена Рудь русско-говорящий реэлтор с многолетним стажем по покупке/ продаже недвижимости на острове Оаху, Член следующих организаций:

Member of Hawaii Association of Realtors.

Member of Honolulu Board of Realtors.

Member of National Association of Realtors.

Cпециализация : Жилая недвижимость на Гавайях , Продажа новостроек, элитных домов и квартир в на Гавайях

 Звоните : 808-224-7274

Oahu HomePath Financing - Why HomePath maybe a good Option for you

 If anyone is looking to buy Oahu foreclosed home, any home with the HomePath logo means that it is available for HomePath financing.

 HomePath financing is great for investors or 2nd home buyers to get 90% financing with no MIP

 The lack of MIP will wash the difference in rate in some cases, plus no appraisal

ONLY 3% DOWN IF OWNER OCCUPIED
ONLY 10% DOWN IF INVESTOR PROPERTY (the usual down payment is 20% down)

 However, the more you can put down the lower the loan cost/interest rate.  The less you put down the higher the rate.

 Down Payment may be gifted - A relative can help you get into a home

No Appraisal Required - Appraisal issues can disrupt or even kill a purchase.  Save money and potentially even your transaction by not having to complete an appraisal.

No Mortgage Insurance Required - saves you money by not having the cost of mortgage insurance added to your monthly mortgage payment.

 HomePath Interest Rates are determined by 3 factors:

Credit Score:  While the minimum credit score required is 660, the higher the credit score the lower the loan costs (or lower the interest rate).

Type of property purchased:  Condominiums have additional loan costs.  Single Family homes do not have price add ons.

If there is a bidding war over foreclosure - HomePath financing may win over FHA or even Conventional.

Ask me for a list of homes that qualifies for Oahu HomePath Financing

VA Approved Condos in Hawaii, Oahu, Honolulu

 Are you currently looking for a condo in Honolulu , Oahu, Hawaii and will be using a VA loan?

Are you having a difficult time finding VA approved complexes?

By now you must realized already that the tricky part is to actually find VA approved condo's in Honolulu, Hawaii.

Not all condo's are approved, or even "approvable".

Before making an offer you will definitely want to know if VA financing is even possible. Assuming the Hawaii Veteran has already been PreApproved for a VA loan, they will want to narrow their condo search to properties on the VA approved list.

Did you know that The Department of Veterans Affairs has a searchable database of VA-registered builders across the United States, including Hawaii

Here is the link to the section of the VA website that allows you as a homeowner to search for VA approved condo projects:   Veterans Affairs VA Registered Condominiums and or PUDS 

Keep in mind some projects may have never been submitted for approval, so not all condo projects are shown.

 Getting into close communication with a realtor who understand VA financing is good place to start the home search.

I'm an experienced realtor who had many successfully closed  transactions with VA financing and I'm happy to respond to your questions.

Issues with short sale in Hawaii buyer need to know

The risks of looking to buy a short sale in Hawaii are substantial, but if you have the Time, Persistence, Flexibility in price and cash reserve.., and determination to see short sale go through, a short sale can be a win-win situation  for Buyer and the Sellers, but could end up with less commission for both agents

Short sales are no fun for anyone involved, but they'll be around for quite some time that is why we need to better understand the Pitfalls and the Rewards of Short sale

To make the process less painful, make sure you are using an experienced short sale agent, whether you're on the buying or selling side. A special designation is not necessary, but make sure you inquire how many short sale transactions the agent has successfully closed.

 At Prudential Locations we have a Short Sale team of agents who specialize in Short sale and my web site will show you which property is a short sale or REO - banked owned real estate.

Before the lender will agree to a short sale, the seller has to prove to his lender that they are unable to keep the property. There must be a hardship, typically things like divorce, unemployment, or overwhelming medical bills. Wanting to sell your house because you're underwater is typically not a hardship. The buyer may wait for 2-3 months for an answer only to have the lender deny the short sale because they determine the seller should be able to make payments and keep the home.

 Unfortunately, you don't have much control over these things happening but you can prepare yourself. If you're considering purchasing a short sale, ask your agent to gather as much information as possible from the listing agent about the seller's situation.

Have the sellers truly suffered a hardship?

How many lenders are involved?

Is the seller committed to a short sale?

Some of the other risks faced by buyers of short-sale properties include:

 Potential for rejection. Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you'll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.

Terms of a counter offer. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you've already negotiated, which may not be agreeable to you.

No repairs or repair credits. You will most likely be asked to take the property "as is." Lenders are already taking a loss on the property and may not agree to requests for repair credits. If the home is in need of serious repair, one option for those needing financing is to obtain an approval for an FHA 203k "rehab" loan, which allows for repairs to be financed with the loan.

Seller can change their mind ...The sellers can decide to pursue a loan modification rather than do a short sale...

Buyers should keep looking at www.ElenaRoud.com for properties since they don't know if the one they made an offer on, will be approved by the bank.

My site will show you history of sale and price change on the property , and has a list for foreclosed homes on every Hawaii Island ..

Oahu Real Estate Report 2010

Prudential Locations Research Department has been following Hawaii's real estate patterns for over 40 years and has found the market follows a cyclical pattern, with a 3 to 4-year period of strong sales and rapidly increasing prices, followed by a 5 to 7-year period with steady but slower sales and relatively flat prices.

In this most recent cycle, sales peaked in 2004-2005, and appear to have bottomed out in 2009. Median prices peaked in 2007, and since have dropped a little lower before leveling off in 2009-2010. As such, 2010 will most likely finish with the number of sales up 10% from 2009, and median prices relatively flat at $600,000 for single family and $305,000 for condominiums.

 Top 5 Oahu Performing Areas in November
Median Price

Nine single-family areas and nine condominium areas saw an increase in median price from September through November as compared to the same time period last year. Here are the top 5 performing areas that experienced the highest median price growth.

Carl Worthy , director of training  Prudential Locations believes that sales are strong, days on the market are low, which shows that the Oahu Market has a lot of energy and starting from early 2009, prices started to go for an upward trend particularly on Oahu.  We have a market that Favors Buyers and Sellers pretty equally when it comes to a statistical point of view . Five and a half months of remaining inventory for both October and November  2010. That is  how long it would take if there will be no more new listings coming on the market at current speed of sales... This is a good number compared to the  mainland, where it is measured by month not by days like on Oahu.

Days on the Market  (DOM) one more indicator of the market dynamics. It measures when new property comes on the market and when someone buys it . The shorter the time frame the more dynamic the markets is. For Oahu we need to go back to 2005 too see numbers as low as we see today . Anything that compares favorably to 2005 is good news, because back in 2005 was when we had the  hottest market on Oahu in both single family homes and condos..

Out of 236 recorded sales in November for Single Family Homes  I counted 24 Short Sales, with majority zip cods  in Leeward Oahu, and 8 Lender's Sale, and 300 recorded sales in November for Condo 26 a Short Sale, and 10 Lender's Sale.

In the Oahu Condo Market in November we recorded 101 sales paid in cash  out of 300 Recorded sales in November 2010.  

I would like to present this Hawaii Kai Home for sale near a golf course. Elegantly Remodeled back in 2007  home  include granite floors with golden glass tiles, mosaic tiled walls, granite counter tops, French doors & windows, stainless steel appliances.  This is 4bedroom and 2 bathroom home with a Solar heated pool .  Location OF THIS HOME is UNIQUE, because it sits near the golf course. You can Relax in Solar Heated tiled pool & spa.. ML#: 1014349. Listed by Prudential Locations, LLC

Kalama Valley Neighborhood of Hawaii Kai is a very quiet and peaceful suburbia

It is well suited for someone who wants to be centrally located, but not too far from Honolulu.   This neighborhood is attractive to people looking for a slice of Hawaii Kai but want a little less congestion.

The Kalama Valley is nestled near the foot of Koko Head Crater and is just five minutes from Sandy Beach and Makapuu Beach... You will see a lot of people take advantage of safe, reasonable walking distance to Sandy Beach and practicing their exercise daily! 

I know because I live in Kalama Valley for 15 years and enjoy it very much.   For my time living here I have done a lot of walking, biking and swimming near by Beaches..

Kalama Village Center is a small mall with a convenience store and a single Thai restaurant within the valley. Residents do have the option of making the quick drive further into Hawaii Kai where the Hawaii Kai Towne Center and Koko Marina have a large variety of supermarkets, multiplex theatres, ample food venues, and a wholesale distributor, Costco. 

Kalama Valley has its own community park that is equipped with basketball courts, but a wide variety of outdoor recreation is available nearby. Sandy Beach is a popular body boarding sport because of the big waves and lack of tourists, Makapu'u Beach is a quiet spot, and the Makapu'u Lighthouse hiking trail is a leisurely walk frequented by whale watchers. Additionally, Queen's Gate Golf Course is available for gold aficionados looking to work on their swing.

The valley has approximately 1,100 single-family homes, most of which were built in the 1970s and 1980s on lots between 5,000 and 6,000 square feet. Most come with open floor plans and high, open-beam ceilings.

Condominium townhomes, newer developments such as the Koko Villas and the gated golf-course communities of Queens Gate and Laulima help to attract residents ranging from first-time home buyers and families with young children to empty nesters and retirees.  

In 2010 average price for Single Family Home sold in Kalama Valley was $721,614 , with lot size of 6,159 sq ft and  living area 1,700sq ft  

Kalama Valley falls into the Kaiser Complex school district. There are three elementary schools of Hawaii Kai  which feed into Niu Valley Middle School and Kaiser High School.

In his latest video podcast, I present ocean front property, Short Sale Home for Sale near Makaha Beach , listed by Prudential Locations, LLC ,

ML#: 1014765, Remod in 2003, 4 bedrooms 4 bathroom, Roofd Liv Ar: 3,378 sq foot, Land SF: 13,825 sq foot
Live the Dream: Hawai'i's tropical beauty on display in and out: 3378 s.f. of architectural elegance on 13,825 s.f. of oceanfront land.. Updates Inside: luxurious marble floors, granite counters, designer kitchen & baths, elevator, winding staircase. Early occupy possible..

For the pass 5 years 2005 - 2010 Oahu Oceanfront Waianae Coast had 16 Sales From $1,1 mil - $2,1 mil.