Hawaii Foreclosure Rates Rise and Buyers Benefit
Quick market update: The amount of Hawaii foreclosures rose 340 percent compared to last September. Hawaii is now in the top 20 of all states for amount of foreclosure filings. Prices have steadily been dropping the past two years and this is going to create some great buying opportunities in the months to come.
Both the banks that have to sell these foreclosures and the sellers that actually have to sell their home are going to be competing for the smaller buyer pool we have. This will give buyers more power and leverage when negotiating the price for their new home purchase. Mortgage rates are still at an all time low creating a great time to get a loan as well.
Feel free to contact us to help you find a great property that fits your needs.
American Dream Realty Launches New Site
Well we finally launched our site’s new web design. The old one was online for close to five years. Not all the functions are up and working yet. We would love to get some feed back as to how you like it and what it is lacking. We are really interested in making it a great site for the user.
Our old provider Cybersunshine made it really easy for us not to use them any longer. Their customer service kept getting worse and worse every year plus they got caught not totally integrating something we paid them to do. The old site was very slow and dated as well. We did not think they were a company that was capable of integrating something that was fast and was going to be good for our users.
Website ReDesign Update
Well I have found a couple young guys that run a real estate web design company here in Honolulu. I have had several meetings and it looks like they are going to do the re-design of the site (look and feel). We are trying to decide whether we have our existing website company that does the IDX and programming push the new design or try somebody new. I am going to be deciding over the next several months what is better long term. They have created what I needed up until now and it has worked fine. I think we need to explore our options and see what else is out there. Technology has changed over the past 5 years and we want to make sure we have an up to date site. We also need to make sure that our users are experiencing the best possible experience they can. It is all about keeping it simple for the user and giving them the tools they need to help them see what Hawaii real estate has to offer.
We have been working closely with National Relocation and Real Geeks development team because they are creating an IDX solution to help real estate agents with their online marketing. We will have to see what they come up with and if it is better than what we have now.
We know one thing from our 5 plus years of online experience. Need to keep it simple and easy to use for the home buyers.
We will keep you updated.
American Dream Realty Update
We are currently exploring the possibility of re-designing our site. It was create over 5 years ago and is pretty dated and needs to be brought up to this century. We are looking for any advise or comments as to what they think users are looking for in a real estate site.
What is the most important thing about a search? Is a map search a priority of a normal search results page? Should the search results page be displayed first for easy glancing and then a interactive map search as a secondary tool. Should the user be able to pick the frequency of the email alerts? What other features are users looking for when searching on a real estate site?
Oahu Real Estate March Market Update
During March, sales of 282 single family homes and 392 condos were reported sold by the Honolulu’s MLS, decreases of 14.5% for single family homes and 27.5% for condos, compared the same month last year. There were a total of 673 home sales on Oahu for the first three months of 2008, a decrease of 22% over the same period one year ago. Total condo sales the first three months were 1037, a 23% decrease from last year.
The median prices paid for single family homes and condos on Oahu were $628,000 and $329,500. Single family home prices saw a decrease of 2.4%, while condos saw an increase of 2.6%. The housing market as a whole saw a price decrease in total volume of 18%.
Silly Real Estate Agent Contest
We were told that a bunch of real estate agents were having a contest to see who can get ranked for the phrase ” greatest real estate agents in the world “. From what we hear PropertyTown.org is claiming they are the home of the greatest real estate agent in the world. The owner of Real Estate Webmasters Morgan Carey is putting this whole contest on and is going to give the winner a free website. Sounds like a pretty good deal to the lucky real estate agent.
We think agents should be taking care of their clients and not trying to show off they can get found on a search engine for a phrase. I guess it shows where these agents priorites are. Tooting their own horns for their own selfish reasons. No wonder why real estate agents get a bad rap!
Thank You and Happy Holidays
We at American Dream Realty would like to thank everyone we have helped in the past year. We wish you a happy Holiday Season and a safe new year!! We really appreciate all your business and trust you have put in our company in helping you locate and buy Hawaii real estate.
Oh Yea, we also just got featured in this Real Estate Blog Directory that is full of great real estate related blogs.
Aloha American Dream Realty
Hawaii School & Neighborhood Information
When purchasing real estate, renting and researching an area to move to. One of the most important things if you have children is the school they will be attending. Schools effect children and who they become. One of the most import things a parent can do is, send their child to a good school. When purchasing, you are buying into a school district and a neighborhood. Even if you don’t have children, schools affect property values and future resale of your investment.
So does the neighborhood you buy in. It is very important that you research both of these before investing in Hawaii real estate. For one the most most comprehensive sites of Hawaii School Information and city profiles on the internet you can check out National Relocation and it’s school and neighborhood profile sections. Whether you atre looking at purchasing a home or looking for an apartment for rent. It is very important to do your research before you make a move. You can use it to research schools or neighborhoods on your own. Or, if you would like even more information, call us today at 808-792-7000.
Is Denver Colorado a Good Investment
Yesterday, I spoke with Larry Hotz who has been selling Denver Real Estate on the south side since 1978. He is a broker with The Kentwood Company which is Denver’s largest independently owned and operated real estate company. I wanted to know how that city is weathering the downturn in home sales and if it is a good prospect for real estate investment.
Larry says home prices have held about even since the first of the year in the better neighborhoods. But, rents for houses for rent have increased over 10% in the last year. Evidently, Denver is experiencing a net gain in population because the economy is healthy and major companies are transferring employees into the market. Still, sales are down about 8% from the year ago period. So, not everyone who moves there is buying a home. Many are going into rentals.
Now, investors can actually expect positive cash flow with 10-20% down payment on single family homes in good neighborhoods. Most investment homes are rented as soon as a sign is posted in the yard. So, vacancy is not a cash flow issue there.
The bottom line is that Denver might be an attractive market for real estate investment so long as Denver relocation by major companies continues.
Relocation Portal
National Relocation is a relocation portal that offers great real estate related services for people on the move. You can search for a foreclosure or homes for rent in many cities across the United States. They even let landlords and property managers list their rentals for free. When you find a dream house they even have home inspection companies listed on the site as well. You can even compare mortgage rates for your new home purchase. You can find Realtors in different parts of the country to help you as well.
If you are relocating and need a moving quote from a mover you can get that as well. You can even get home insurance, life insurance and car insurance quotes too. They have area information on the real estate area pages about what the communities has to offer as well. What a great resource for some one on the move!