EXIT Real Estate Associates Realtors Receive Nominations for the 2016 Honolulu Board of REALTOR® Aloha ‘Aina Award Program

REALTORS® are members of the Nation Association of REALTORS® and represent a group of real estate professionals who are bound by a strict Code of Ethics and pledge to protect and promote the interests of their Client and treat all parties honestly. In 2016, the National Association of REALTORS® had 1,233,704 members. According to a Department of Commerce and Consumer Affairs Real Estate Commission Annual Report, in 2016 Hawaii had 13,924 active real estate brokers and salespersons but only 9,063 of those brokers and salespersons were association members that adhere to the strict Code of Ethics. Of those active real estate brokers and salespersons who are association members, the majority are part of the Honolulu Board of REALTORS®, one of the largest trade organizations in the State of Hawaii with approximately 6,000 members and the largest Board of REALTORS® in the United States which is surprising when you consider the relatively small percentage of Hawaii active real estate brokers and salespersons that comprise the National Association of REALTORS® membership.

Since 1998, the Honolulu Board of REALTORS® has recognized Oahu real estate brokers and salespersons that excel in their profession and provide superb service in accordance with their strict code of ethics with the Honolulu Board of REALTORS® Aloha ‘Aina Award Program. The Honolulu Board of REALTORS® accepts nominations from the public at large which are based on service provided directly to the client involved in a transaction during that given year. Additionally, nominees are required to be in good standing with the Honolulu Board of REALTORS® and the real estate commission.

For the 2016 Aloha ‘Aina Awards Program received over 1400 submissions for 556 Oahu REALTORS® who were nominated for this prestigious award. Of this elite group of nominees ten were recognized as the “Best of the Best” at the Honolulu Board of REALTORS® Holiday General Members Meeting on December 5, 2016.

Since 2007, EXIT Real Estate Associates, formerly EXIT Hawaii Dream Realty, has consistently received nominations for Aloha ‘Aina Awards program including one winner in 2012. Nani Nikcevich (S) received the award in 2012 for showing respect of the ‘aina (land) and for her commitment and dedication to her clients with the sale of their Hawaiiana estate. In 2016, EXIT Real Estate Associations received seven nominees including Sue Connelly (R), Rebecca Fagassa (RA), Theresa Harden (R), Michael La (RA), Diana Lindsey (RA), Luise Sefika (RA), and Lien Tyler (RA).

EXIT Real Estate Associates provides the tools, training, knowledge, resources, and recognition needed to succeed as a Real Estate professional in today’s market. The unique business structure of EXIT Realty means that EXIT Associates are able to focus on the best interest of their Clients with the full support of our corporate and local office no matter the circumstance of a transaction. Our Associates are proud to be in the Real Estate profession. We believe that our responsibility is to maximize our Clients bottom line while maintaining the strict Code of Ethics. We are also proud to be members of EXIT Realty Corp. International and to be recognized by this well-regarded nomination.

Congratulations to all Aloha ‘Aina Award nominees and the award winners. You worked hard to achieve your nomination and your recognition is justly deserved.

Kuhio Village Blessing

EXIT Real Estate Associates is committed to preserving the ‘aina and Hawaiian values as well as the importance of spirituality in our everyday lives. Our company has worked hard with the Kuhio Village and neighboring communities to spread the spirit of aloha and provide for a positive and rewarding experience for all our guest, customers and clients.

The blessing of Kuhio Village by Kumu Karen Leialoha Carroll and her father was greatly appreciated by Theresa Harden, Principal Broker, and her Staff, as well as the residents of Kuhio Village. Kumu Carroll provides inner peace and guidance through her words of wisdom, her spiritual chants and prayer. Mahalo nui loa to Kumu Karen Leialoha Carroll and her father for creating an unforgettable moment and connecting us with our community.

Click on the photo to open the flickr album of pictures taken during the blessing of Kuhio Village on April 21, 2017. The blessing begins with the EXIT Real Estate Associates office and progresses through the lobby area and grounds of Kuhio Village. Kuhio Village Blessing

Oahu February 2017 Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting and if you are already in the market exciting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot  February 25, 2017
Average List Price Median List Price Average DOM: active listings Number of Listings
Honolulu County, HI
Single Family under $1M $706,870 $720,000 74 415
Single Family over $1M $3,292,468 $1,950,000 119 474
Condo/Townhome under $500K $288,644 $295,000 83 604
Condo/Townhome over $500K $1,647,139 $975,000 108 641
If you know someone who is considering buying or selling a home, please give me a call. I will provide professional and courteous service along with knowledgeable guidance through the process.

Mortgage Bankers Association March 2016 Rate Forecast

Click Here to View the Mortgage Bankers Association March 2016 Rate Forecast
MBA Mortgage Finance Forecast for March 2016

The forecast for the 30-year fixed rate mortgage remains unchanged from February’s forecast. What does that mean? The Mortgage Bankers Association forecast closed out 2015 three tenths of a point below 2014 annual average. Mortgage Bankers Association is staying consistent and closed out the first quarter of 2016 with an upward lift for the quarterly average rate that is forecasted to continue an upward trend for the remaining quarters of 2016. In past forecasts, the quarterly rate was on par with the forecasted 2014 annual rate and remains so with this current forecast reaching the 2014 annual rate in the later part of 2016. At present the quarterly average rate for the current quarter is forecasted to remain below the final quarter of 2015.

Overall this forecast, like past forecasts, continues to support that the 30-year fixed rate mortgages have increased at a slow and almost predictable rate that is likely to persist. We can expect fluctuations in the rate as they will not remain stagnant but will slightly deviate around the quarterly average. The rates appear to remain favorable in the outlook and support continued economic growth in the housing sector.

So what do these rates mean if you are seeking a Veteran’s Assistance or VA home loan? The rates one actually qualifies is based on several factors including the loan program, credit score and credit worthiness. The forecasted rates are only intended to provide you with insight into what the market considers as the overall average rate for the given period. You must check with your financial institution to find out what rate you qualify and in some cases that rate may be lower than what you see forecasted by Mortgage Bankers Association. VA home loan is a home loan guaranty program offered to Veterans, military service members and eligible surviving spouses.

CLICK HERE for more information on VA Home Loans.

It’s here! New Vacation Rental Marketplace Website Announcement

What we do and where we are going

TimetoVacationWe are pleased to reveal our newly designed vacation rental marketplace website for Hawaii Dream Realty LLC, feel free to Take a Peek! We have worked hard to grow Hawaii Dream Realty LLC from a single dimension real estate brokerage operation to a franchised company more robustly able to provide for our Client’s real estate needs. The company utilizes enterprise systems for each of its business lines with the goal to maximize returns, increase property value, reduce risk and stress, save time and money, and ultimately to provide piece of mind to our Clients.

The company already employed proprietary systems for marketing and managing real estate transactions through our affiliation with EXIT Realty Corp International. Hawaii Dream Realty LLC, doing business as EXIT Real Estate Services, specializes in the procurement and exchange of investment properties.

Today, Hawaii Dream Realty LLC is comprised of a number of business lines that have been developed in direct response to the needs of our Clients. Together they provide our Clients with a total real estate investment solution. For the first time we have dedicated websites and back office support systems that reflects each service line.

The vacation rental marketplace is the consumer end of an enterprise system that expands the ability for Hawaii Dream Realty LLC to manage and market our Client’s investment properties zoned for short term accommodations. Our new website, aside from being aesthetically pleasing, provides an agile and easy to scan, read, and navigate interface for its users enabling visitors to find their accommodation wants quickly.

One of our primary objectives we wanted to achieve when designing the new site was to help visitors get to know us better and get a feel for who we are as a company and vacation services host. We employed a responsive, security-conscience design, which means that you’ll see essentially the same design and secure interface optimized for your smart phone, tablet or desktop.

We hope you will visit the new website at our new address, www.waikikistay.com and acquaint yourself with the many options we offer when it comes to vacation rental properties for Waikiki. The company has its office located in the heart of Waikiki on the beautiful Hawaiian Island of Oahu. The vacation rental accommodations are within a three block radius of the office and have immediate access to everything that is Waikiki from its dining, street entertainment, to its beautiful beaches and parks, and even a zoo and an aquarium.

We are quite proud of the site, but we know there is still work to do. In the coming months, we plan to continue to expand our online marketing to additional third party vendor sites increasing the online exposure of our Client’s properties.

Economists’ Outlook

How Do Homeowners Accumulate Wealth?

Posted: 19 Oct 2015 10:19 AM PDT

Lawrence Yun for Forbes

The differences between buying and renting are massive.  According to the Federal Reserve, a typical homeowner’s net worth was $195,400, while that of renter’s was $5,400.  The data reflects 2013 and the next survey of household finances, which is conducted every three years, will be out in 2016.  Based on what has happened since 2013 and projecting a conservative assumption of what could happen next year to home prices if we see only 3% price growth, the wealth gap between homeowners and renters will widen even further. The Fed is likely to show a figure of $225,000 to $230,000 in median net worth for homeowners in 2016 and around $5,000 for renters. That is, a typical homeowner will be ahead of a typical renter by a multiple of 45 on a lifetime financial achievement scale.

Read the rest of the article at Forbes > 

Booming Rental Market

Click Here to Download the Booming Rental Income Newsletter

Invest Newsletter 122014
The December 2014 Booming Rental Income Newsletter includes articles on “How to Set the Right Rent” and “Booming Rental Income” by  Dr. Lawrence Yun, the Chief Economist for the National Association of Realtors. Click on image to download your copy of the newsletter.

We are an independently owned and operated EXIT Realty Corp. International real estate company serving the greater Oahu area. Our office is located on the ground floor of the Kuhio Village condo-hotel complex. We are in a unique position to advise you on Honolulu’s short term vacation rental market as well as its long term rental market. We use investment case study calculators to project investment cash flow, cap rate, and rate of return on perspective investment properties. The Booming Rental Income Newsletter shares techniques and resources to consider when assessing a fair market rent for your investment. In this newsletter also read about why Dr. Lawrence Yun, the National Association of Realtors Chief Economist expects rents to continue to increase and even double in the next 20 years.

For more information on our real estate investment services visit www.WaikikiWalkingTours.com.

 

EXIT Real Estate Associates Realtors Receive Nominations for the 2014 Honolulu Board of REALTOR® Aloha ‘Aina Award Program

EXIT Real Estate Associates Realtors Receive Nominations for the 2014 Honolulu Board of REALTOR® Aloha ‘Aina Award ProgramREALTORS® are members of the Nation Association of REALTORS® and represent a group of real estate professionals who are bound by a strict Code of Ethics and pledge to protect and promote the interests of their Client and treat all parties honestly. According to the Wall Street Journal, as of June 2014, the National Association of REALTORS® had 963,000 licensed members. According to a Department of Commerce and Consumer Affairs Real Estate Commission Annual Report, in 2013 Hawaii had 12,327 active real estate brokers and salespersons. Of those active real estate brokers and salespersons, the majority are part of the Honolulu Board of REALTORS®, one of the largest trade organization in the State of Hawaii with approximately 8,000 members and the largest Board of REALTORS® in the United States which is surprising when you consider the relatively small percentage of Hawaii active real estate brokers and salespersons that comprise the National Association of REALTORS® membership.

Since 1998, the Honolulu Board of REALTORS® has recognized Oahu real estate brokers and salespersons who excel in their profession and provide superb service in accordance with their strict code of ethics with the Honolulu Board of REALTORS® Aloha ‘Aina Award Program. The Honolulu Board of REALTORS® accepts nominations from the public at large and are based on service provided directly to the client involved in a transaction or management agreement between September 1, 2013, and August 31, 2014. Additionally, nominees are required to be in good standing with the Honolulu Board of REALTORS® and the real estate commission.

For the 2014 Aloha ‘Aina Awards Program only 600 Oahu REALTORS® were nominated for this prestigious award. Of this elite group of nominees only ten are recognized as the “Best of the Best” at the Honolulu Board of REALTORS® Holiday General Members Meeting on December 5, 2014.

Since 2007, EXIT Real Estate Associates, formerly EXIT Hawaii Dream Realty, has consistently received nominations for Aloha ‘Aina Awards program including one winner in 2012. Nani Nikcevich (S) received the award in 2012 for showing respect of the ‘aina and for her commitment and dedication to her clients with the sale of their Hawaiiana estate.

As EXIT Real Estate Associates has grown over the past 7 years so has the number of nominees with seven amazing REALTORS® receiving nominations in 2014 including Sue Connelly (R), Rebecca Fagassa (RA), Theresa Harden (R), Diana Lindsey (RA), Keoki Osorio (RA), Luise Palaita (RA), and Lien Tyler (RA).

EXIT Real Estate Associates provides the tools, training, knowledge, resources, and recognition needed to succeed as a Real Estate professional in today’s market. The unique business structure of EXIT Realty means that EXIT Associates are able to focus on the best interest of their Clients without concern of compensation and with the full support of our corporate and local office no matter the circumstance of a transaction. Our Associates are proud to be in the Real Estate profession, proud to be members of EXIT Realty Corp. International, and proud to be recognized by this well-regarded nomination.

Congratulations to all Aloha ‘Aina Award nominees and award winners. You worked hard to achieve your nomination and your recognition is justly deserved.

Appraisers 101

An appraiser is a professional person who provides an objective report on the estimate of value of real estate. An appraisers opinion of value is very important as the appraiser must prove to the bank that a property is with equal or more than the loan the buyer is trying to obtain.

Click Here for Real Estate Advisor Appraisals Newsletter

Real Estate Advisor is an informative newsletter offered to Clients and Customers covering all aspects and facets of the real estate industry. This edition of the newsletter discusses the importance of an appraisal. Click on image to download your copy of Real Estate Advisor.

With that said, below is a MarketWatch article by Daniel Goldstein that dispels some myths associated with real estate appraisers and is appropriately titled “10 things real estate appraisers won’t tell you” published on November 22, 2014.

 1. We’re working under a cloud

There are about 80,000 real estate appraisers in the U.S. and they play a key role in most home sales: Until they weigh in with a determination of a property’s value, the buyer typically can’t finalize a mortgage. (Appraisers also play roles in property-tax appeals and home-equity lending, among other transactions.)

The profession got a reputational black eye, however, during the housing boom and bust. In numerous instances, including federal lawsuits against real estate data companies, appraisers were accused of fudging their numbers so that unscrupulous lenders could approve loans for unqualified buyers. “Appraisers were no more innocent than lenders or their CEOs,” said Phil Huff, CEO of Platinum Data Solutions, a real estate appraisal data company in Aliso Viejo, Calif. “They share the blame, too.”

As a reaction to such allegations, the Dodd-Frank Wall Street Reform and Protection Act of 2010 required more state and federal supervision of appraisers, and put more pressure on lenders to work through appraisal management companies, or AMCs. These independent firms are designed to keep appraisers and lenders from getting too cozy, explains Sam Heskel, manager of appraisal firm Nadlan Valuation in Brooklyn, N.Y.

But appraisers say that new rules have made the process slower and more complicated for consumers—and that they haven’t stopped some appraisers from yielding to pressure from banks.

2. We don’t know your neighborhood

One unintended consequence of the Dodd-Frank reforms: AMCs are increasingly sending out-of-county or out-of-state appraisers to calculate property values. This happens because AMCs in some cases assign homes to appraisers essentially at random, says Huff: “They may not know the area all that well, and not use the right [comparisons],” says Huff.

This matters because inaccurate appraisals can hurt consumers. An appraisal that undervalues a property may keep a seller from getting a fair price; one that’s too high could put a mortgage out of reach for a buyer.

3. We work for the bank, not for you…

The typical appraisal costs between $350 and $500, according to Zillow, and it’s paid for by the consumer (usually the buyer). But while home inspectors, real-estate agents and contractors technically work for the consumer, the appraiser’s work is owned by the bank. And in some cases, homeowners and buyers are adversely affected by appraisals they never personally see.

Consumers do have recourse: Federal law requires that a copy of any appraisal be given to consumers who request it in writing. And unlike inspectors or agents, home appraisers have to answer to Uncle Sam, which means dissatisfied customers can complain to the feds. Complaints about appraisers and their practices can be filed with the Appraisal Subcommittee, which is part of the Federal Financial Institutions Examination Council.

4.…but banks still don’t trust us

During the housing bust, many banks tried to resell homes they’d foreclosed on—only to find that their real value was far lower than the appraiser’s report had suggested. “The home wasn’t in the condition the appraiser said it was, and sometimes the home wasn’t even there,” says Greg Schroeder, president of Comergence Compliance Monitoring, a Mission Viejo, Calif., appraisal-technology company.

In part to satisfy the banks, regulations now require appraisers to fill out more paperwork, with the size of the typical appraisal record having doubled to about 30 pages. “Most of this work is defensive in nature,” says Lora Helt, director and appraiser with Bradford Technologies, an appraisal software company in San Jose. “If the deal goes bad, the first person that gets blamed is the appraiser.”

5. Get a second opinion (maybe in advance)

When an appraiser’s decision jeopardizes a deal, consumers are likely to feel aggrieved. Since the housing bubble, appraisers have typically gotten the most heat is over their work in neighborhoods with many distressed properties—since distressed sales and foreclosures create a baseline of comparable home sales (or “comps”) that tends to drive down prices. The Appraisal Institute, an industry trade group based in Chicago, says that such situations aren’t uncommon, and it encourages consumers to get a second opinion.

But some real estate pros advise consumers to get a valuation estimate of their own, even before the appraiser shows up. Buyers and sellers can ask their real-estate agents to provide a broker’s price opinion: Those estimates themselves may not always be accepted by lenders, but they can give the borrower a baseline from which to judge an official appraisal’s accuracy.

Heskel advises that buyers get at least two opinions, even if they’re paying cash. Differences in estimates can knock $10,000 to $20,000 off the final sale price of a home, he says.

6. It’s too hard to get this job

In many states, it takes relatively little training to qualify as a home inspector or real-estate agent. But for appraisers, the requirements can be very high—in large part because would-be appraisers have to be in compliance with both state and federal guidelines.

Simply becoming a trainee requires 75 hours of classroom time, according to the Appraisal Institute. To become a licensed residential appraiser (which only allows the appraiser to examine homes that have a value of $1 million or less) is another 150 hours of classroom time involving finance topics, valuation and market analysis. Qualifying as a certified residential appraiser, one of the highest levels, takes another 210 hours. Moreover, any appraiser that works with a federal agency must be certified on what’s known as a National Registry, which has more requirements. And typically, appraisers have four-year college degrees, or even postgraduate education.

The licensing and upkeep of an appraiser’s certifications is also getting tougher. Appraisers typically work with multiple AMCs, and each requires its own background checks, which appraisers must pay for out of pocket, says Schroeder, whose company is building a web portal designed to simplify the process. Given that some residential appraisers can earn only about $150 per job after the AMCs take their cut, many would-be trainees are put off by the educational and financial hurdles, says Schroeder: “There’s too much work for too little money.”

7. Our ranks are shrinking (and aging)

In 2010, there were 90,000 appraisers in the U.S. By last June, that figure had shrunk more than 10%, according to the Appraisal Institute, which says its ranks are thinning due to retirements and fewer people entering the profession. Today, more than half of appraisers are between 51 and 65 years old. And less than a third of all appraisers work in the residential sector, the institute says.

One issue is that hiring in the field has generally slowed down. In a 2013 Appraisal Institute survey, just 9% of residential appraiser firms and 21% of commercial real estate appraisal companies said they planned to hire more trainees.

When they do hire, some hope they’ll keep diversity in mind. About 90% of the 80,000 appraisers in the business are white and just over a quarter are female. The institute has formed a diversity committee to provide scholarships and training for minority appraisers.

8. We’ve got some bad news about your home makeover

Some homeowners assume that spending $50,000 on, say, a fancy new kitchen will raise the value of their house by $50,000. But that’s seldom the case: Ambitious home-improvement projects “are often not worth the price in a resale situation,” says Lance Coyle, incoming president of the Appraisal Institute.

Which renovations are more likely to raise a home’s value? A fresh coat of paint in neutral colors, or new fixtures or trim boards, can add value the fastest, Coyle says, as can Energy Star-compliant “green” renovations that pay the homeowner back in lower utility bills.

9. Don’t follow us around

Some homeowners confuse the roles of home inspectors (who assess the physical condition of a home) and appraisers (who estimate its sale value). One key way in which they differ: While many inspectors want consumers to follow them around—so they aren’t shocked when they’re presented with a multi-page fix-it list—experts say there’s no benefit for the owner or buyer in tagging along with the appraiser.

“(Following them) is a distraction,” said Platinum Data’s Huff. “Let them come in and do their jobs. If you want them to know about something, give them a list beforehand.”

10. Someday, drones could do our jobs

A typical appraisal takes about eight hours to complete, even if only an hour is spent at the property itself, says Helt, the San Jose appraiser. Behind the scenes, appraisers gather property records and data on land values and check features of the home against “comps.”

But technology is speeding up the process. “Big Data” software has eased the gathering of real estate information, while tools like Google Earth are figuring in more appraisers’ research. Even drones could soon come into play, if regulators allow their commercial use. “I don’t think there’s a replacement for boots on the ground, but the precise way a piece of collateral information is collected will change,” Huff says.

Join Us to Get Your Piece of $250 MILLION

Mahalo to Susan for making time to meet with us this morning, sharing her experiences with the real estate industry, and providing insight into the different brokerage models that are available to Hawaii’s real estate professionals. Associates and guests from both EXIT Real Estate Associates and EXIT The Masters Plan Realty truly enjoyed this 60 minute experience. We look forward to seeing everyone again and even more guest at our next event in 2015!

Visit our Flickr Photo Album to view pictures from this event.

You're invited to an exclusive executive real estate event, "60 Minutes with EXIT", with guest speaker, Susan Ebert, President Pacific West US Division for EXIT Realty Corp International, on Tuesday, 28 October, from 10:00 AM to 11:00 AM. RSVP to Theresa Harden at (808) 223-0429.Meet your local EXIT Ohana and talk story with Susan Ebert, President Pacific West US Division for EXIT Realty Corp International, at this exclusive executive real estate event. Join us for “60 Minutes with EXIT”, on Tuesday, 28 October, from 10:00 AM to 11:00 AM, at the Ala Moana Hotel, Plumeria Room. RSVP to Theresa Harden at (808) 223-0429.

Greater Than 5% Increase in Hawaii Median Price Forecasted

In late August, the National Association of Realtors (NAR) released median home price information that showed gains of 4.9 percent in July 2014 home prices compared to July 2013. This gain was slightly higher than the 3.7 percent seen in June and notably slower than double-digit price growth in summer/fall 2013. Overall, the NAR is forecasting an increase in the median sales price at a sustainable single digit rate. Locally, Hawaii is one of three states where the median sales price change is expected to grow greater than 5 percent in the next 12 months.

Median Expected Price Change of REALTORS in Next 12 Months, By State Based on May-July 2014 RCI Survey

Below is a hypothetical example, using an OwnAmerica.com investor decision aid, of what a 5 percent average growth rate equates to after 20 years.

BY THE NUMBERS…Waikiki Home Purchase Price of $425,000.

The home is purchased with a 5 percent down payment of $21,250 and a closing costs of 1 percent or $4,250 which results in a mortgage amount of $403,750.  With a 4 percent mortgage rate and a 5 percent appreciation rate after 20 years the principal on the mortgage would be reduced to $319,938 while the properties value would rise to $692,280 leaving you with $372,342 in equity.

Use the investor decision aid to experiment with different scenarios and talk to your local Realtor to learn more about real estate investment opportunities in your area.

 

 

 

Hawaii Shows Consistent Quarterly Median Sales Price Growth

Median Sales Price Growth of Existing Single Family Homes for Metropolitan Areas (2013Q2 to 2014Q2)
Hawaii Shows Consistent Quarterly Median Sales Price Growth
The Federal Housing Finance Agency (FHFA) releases quarterly state and metro area data including data for Hawaii and Honolulu. At the regional level the most robust home price gains from a year ago were still in the West. The National Association of Realtors reported price change of 6.4% and 6.5% from a year earlier in both June and July in the West.

According to FHFA year over year prices in June 2014 rose 9.4 percent in the Pacific division which includes Hawaii, Alaska, Washington, Oregon, and California which was above the national 5.2 percent price change. Despite the impressive gains regionally and modest gains nationally, Hawaii experienced a more conservative 2.79 percent price increase.

2014 Q2 $678.5K
2014 Q1 $672.3K
2013 Q4 $670.8K
2013 Q3 $679.8K
2013 Q2 $660.1K

NAR Forecasts Modest Price Growth for Hawaii

REALTORS® Expect Modest Price Growth in Next 12 Months Based on June 2014 REALTOR® Survey

The following content was provided by Did You Know, by Scholastica (Gay) Cororaton, Research Economist, on July 31, 2014.

REALTORS® generally expect home prices to increase in all states and the District of Columbia over the next 12 months, according to the June 2014 REALTORS® Confidence Index. The median expected price increase is 3.6 percent [1].

Expected price movements depend on local conditions relating to housing demand and supply, demographics, and job growth. For more information on Hawaii’s real estate market contact a local REALTOR®.

[1] The median expected price change is the value such that 50 percent of respondents expect prices to change above this value and 50 percent of respondents expect prices to change below this value. A median expected price change is computed for each state based on the respondents for that state. The graph shows the range of these state median expected price changes. To increase sample size, the data is averaged from the last three survey months.

Real Estate Professionals Showing Support for Rugby League International Test Match

Typically when you think of rugby, you don’t also think of real estate but when it comes international rugby league test match played in Hawaii’s Aloha Stadium, a crew from First American Title and EXIT Real Estate Associates knew that this special event would bring people from all over the Pacific and Oahu to watch this historic match. With international home buying up, this event was an opportunity to provide information on Hawaii’s  real estate and rental market to an international crowd.

For the second straight year, the United States National League Rugby team was back in the 50th state, as the Tomahawks played host to Tao Samoa in an International test match as a part of the Lavalava Festival at Aloha Stadium on Saturday, July 19.

USA Tomahawks versus Toa Samoa

The Rugby game was very exciting with the first half score ending 6 to 0 (USA to Samoa) and the second half left spectators on the edge of their seats with Samoa scoring, then USA scoring twice and Samoa fighting to the very end to score again. The final score was 18 to 12 (USA to Samoa). The crowd cheered for both sides and despite the rain drizzles and 4 injuries on the field, the crowd really was electrifying….. or maybe that was the lighting at the end of the game…or maybe a little bit of both. Needless to say, it was a thrilling game, the highlight of the day, and an overall good time. In the end, we were all thankful the heavy rain held off and really appreciated the support from Jessica Maea-Faamai of First American Title, and Luise Palaita (S) and Keoki Osorio (S) of EXIT Real Estate Associates.

Lavalava Festival – Aloha Stadium 2014

Thank you to Jessica Maea-Faamai of First American Title, for organizing and coordinating the event and thank you for the support provided by Luise Palaita (S) and Keoki Osorio (S) who together with Theresa Harden (B) took turns answering questions about Hawaii’s real estate market and handing out prizes during the all-day event. The event took place inside Aloha Stadium where thousands of spectators and visitors stopped by vendor booths to talk story between the matches.

Luise Palaita (S) and Keoki Osorio (S) of EXIT real Estate Associates together with Jessica Maea-Faamai of First American Title

Depicted from left to right are Luise Palaita (S), Keoki Osorio (S) and Jessica Maea-Faamai.

Theresa Harden (B) with Luise Palaita (S) together with Keoki Osorio(S) at Aloha Stadium

Depicted from left to right are Theresa Harden (B), Luise Palaita (S), and Keoki Osorio (S).

About EXIT Realty
EXIT is a proven real estate business model that has to-date, paid out more than a quarter billion dollars in single-level residual income – for agents, this means security, stability and direction; for agents’ families, security in the form of beneficiary and retirement residuals. State-of-the-art technology including TORC, EXIT’s Total Office Resource Center, provides an integrated, end-to-end solution for today’s busy real estate professional. A portion of every transaction fee collected by EXIT International is applied to its charitable fund. To-date, more than $2 Million has been pledged to Habitat for Humanity. For more information, please visit www.exitrealty.com.

About First American Title
First American is an industry leader, it is the philosophy of First American to provide customers the respect they deserve and the innovative products and services they need. First American adheres to the highest standards of financial stability and professional responsibility. For more information, please visit www.firstam.com.

EXIT Realty Execs Rank Well Among the 200 Most Powerful People in Residential Real Estate

EXIT Realty Corp. International proudly congratulates Steve Morris, Tami Bonnell and Jeff Lobb for their inclusion among Stefan Swanepoel’s list of the 200 Most Powerful People in Residential Real Estate.


Congratulations to EXIT Realty’s Chairman and CEO Both Named Among the 200 Most Powerful People in Residential Real Estate

Leading researcher on real estate trends, Stefan Swanepoel announced the Swanepoel Power 200: The Most Powerful People in Residential Real Estate in 2013 (http://www.swanepoel.com/power200/) naming EXIT Realty Corp. International’s Chairman and Founder, Steve Morris, and CEO, Tami Bonnell among them.

In describing how the list was determined, Swanepoel said, “We decided to create benchmarks and algorithms that take into account the individual’s personal influence, his/her tenure in the industry, the office he or she holds, the decision-making power of said office, the financial resources of his or her company or organization, that company or organization’s significance and contribution to the industry, the company’s geographic reach, and his or her recent activities, growth and potential.”

Morris, who founded EXIT Realty in 1996, was recognized as being “the mastermind behind the EXIT residual revenue sharing model,” and Bonnell as “a 30+ year veteran of the real estate industry.”

“It is an honor to be named among these great leaders,” said Bonnell.  “I am very fortunate to work with a company that helps to bring out the best in people.”

Morris and Bonnell were also ranked among the Top 20 Most Powerful Real Estate Franchise Executives, Bonnell was included among the Top 20 Most Powerful Women in Residential Real Estate, and VP Technology and Innovation, Jeff Lobb was named among the Top 20 Most Influential People in Residential Real Estate Social Media.

About EXIT Realty:  EXIT is a proven real estate business model that has to-date, paid out more than a quarter billion dollars in single-level residual income – for agents, this means security, stability and direction; for agents’ families, security in the form of beneficiary and retirement residuals. State-of-the-art technology including TORC, EXIT’s Total Office Resource Center, provides an integrated, end-to-end solution for today’s busy real estate professional. A portion of every transaction fee collected by EXIT International is applied to its charitable fund. To-date, more than $2 Million has been pledged to Habitat for Humanity.  For more information, please visit www.exitrealty.com.

FMA Chapter 19 General Members Meeting 24 October 2013

The Federal Managers Association, established in 1913, is the oldest, largest, most influential association representing the interests of the 200,000 executives, managers, and supervisors serving in today’s federal government. At the October 24, 2013, FMA Chapter 19 General Members Meeting, Theresa discussed investing in Oahu’s real estate market.

EXIT Hawaii Dream Realty Launches Real Estate Investor Learning Center

“Investor Center” Assists Residential Real Estate Investors

Theresa Harden, PB, SFR, E-Pro of EXIT HAWAII DREAM REALTY earns the OwnAmerica Investment Certification and joins the OwnAmerica Network, a national affiliation of real estate investment specialists. This move allows Theresa Harden, PB, SFR, E-Pro to offer analysis tools, tutorials and a video training series to clients during one of the biggest real estate investment booms in history.

Using the Investor Center on www.OwnHawaii.com real estate investors can learn how to best capitalize on the struggling housing market by researching and acquiring quality real estate assets as a long term wealth creation strategy. The Investor Center guides new real estate investors down the right path and streamlines the process for more seasoned investors.

“The market is great for investors, but investing in real estate is quite different than traditional home buying and selling,” explains Theresa Harden, PB, E-Pro, “It’s a more complex process requiring additional levels of expertise. The Investor Center provides the resources to make investing in real estate simple, profitable and even fun.”

OwnAmerica and the Investor Center were created by Greg Rand, a twenty-year real estate industry veteran and author of the book Crash Boom!. It includes a 4 hour video based investment training course, news and information, and the Case Study Calculator, a tool for analyzing the potential of investment real estate.

“We’ve seen too many people giving bad advice about ‘getting rich quick’ in real estate. It truth, real estate is a long term wealth building asset. It works when you do it right. We want to show our clients how to do it right,” says Rand, CEO of OwnAmerica and host of WABC’s Rand on Real Estate.

To learn more about the Investor Center and the Oahu real estate market, contact Theresa Harden, PB, E-Pro at TH@ExitHDR.com or visit the the website at www.ExitHDR.com

Real Estate Consumer Information

WORKING WITH A REAL ESTATE BROKER

Important Information for Anyone Planning to Buy or Sell a Home

If you’re planning to buy or sell a home, most likely you’ll soon meet a real estate broker or salesperson. There are many services a broker can offer you without making an obligation but before long you should discuss broker representation. It’s the first thing you need to know about buying or selling a home.

  1. BROKER REPRESENTS SELLER: If the broker is the seller’s agent, then the seller is the broker’s client and you are, in effect, a customer.You can buy a home in this situation just as you would purchase a product from a salesperson – that is, without professional representation by an agent of your own. Even though the broker is employed by the seller, the broker can still work closely with you, providing information about properties and financing procedures. A broker representing the seller can even help you prepare and present your offer to purchase the seller’s home. But as the seller’s agent, the broker’s primary loyalty is to the seller. Therefore, you may not want to reveal certain information about yourself, such as your urgency to move or your willingness to increase your offer.
  2. BROKER REPRESENTS BUYER: If you wish, you can retain the services of a broker to help you buy a home -just as you would hire an accountant or attorney. You become a client, and your broker represents you exclusively when you purchase your home. You gain the benefits of your broker’s experience and expertise. If you decide to use a broker as your agent, select one carefully. Discuss the services he or she can provide, and whether you will be charged a fee. This should be put in writing. You may decide you don’t need your own broker. The seller’s agent may be able to provide you with all the information you require to buy the home you want without representation. 
  3. BROKER REPRESENTS BOTH BUYER AND SELLER: It is also possible for a broker to represent both buyer and seller in a real estate transaction. However, state law requires that the broker inform both parties of the dual representation, briefly describe the type of representation to be offered, disclose all facts relevant to each party, including any possible conflicts of interest, and obtain their written consent. The reason for this law is to clarify at the outset the financial relationships and responsibilities of each party in a dual agency situation. Knowing the facts will help you decide how much personal information you wish to disclose to the broker. The above information was made available by the Hawaii Real Estate Commission brochure.

Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS handle hundreds of real estate transactions over the course of their career. Below are some compelling reasons why having an expert on your side is critical.

BUYING A HOME?

9 Reasons to use A REALTOR®

1. A REALTOR® has the most information in one place about what is on the market, including homes listed by other REALTORS®. You won’t waste time looking at unsuitable homes.

2. A REALTOR® helps you determine how much home you can afford, how you can acquire the down payment and what financing options may be open to you.

3. A REALTOR® can help you find the home best suited to your needs – size, style, features, location, accessibility to schools, transportation, shopping, etc.

4. A REALTOR® can supply information on real estate values, taxes, utility costs, municipal services, zoning and facilities.

5. A REALTOR® can suggest simple changes that could make a prospective home more suitable for you and improve its utility and value.

6. A REALTOR® has no emotional ties to a home, can be objective about it and can point out its advantages and disadvantages.

7. A REALTOR® is a skilled negotiator that acts as an agent between you and the seller to present offers and counter-offers until an agreement is reached. Negotiations can get complicated when you consider factors such as price, financing, terms, date of possession, inclusion or exclusion of repairs, furnishings, equipment, the inspection process, and other known or unforeseen issues.

8. A REALTOR® is knowledgeable expert that will help you prepare the best deal and avoid delays or costly mistakes. 

9. A REALTOR® is bound by a Code of Ethics and pledged to protect and promote the interest of the buyer by providing fair treatment for all parties involved in the transaction.

SELLING YOUR HOME?

10 Reasons to use A REALTOR®

1. A REALTOR® is bound by a Code of Ethics and pledged to protect and promote the interest of the seller by providing fair treatment for all parties involved in the transaction.

2. A REALTOR® is knowledgeable of the market and gives you the quickest exposure to the maximum number of buyers.

3. A REALTOR® qualifies prospects as to their affordable price range and housing needs.

4. A REALTOR® knows current real estate values and can help you set a realistic, competitive price. This skilled professional knows how to merchandise you home effectively.

5. A REALTOR® is familiar with the local home-loan market and can help you determine whether seller assisted financing may expedite your sale.

6. A REALTOR® can figure the net proceeds from your sale, taking into account your outstanding loan balance, closing costs and possible owner financing.

7. A REALTOR® can tap an even larger market through referrals and marketing techniques.

8. A REALTOR® frees you from the problems associated with showing your home. The REALTOR® handles phone inquiries, appointments, showing and negotiations of the contract. Your home is shown only to serious, qualified buyers.

9. A REALTOR® maintains objectivity in presenting offers and counter-offers.

10. A REALTOR® can familiarize you with the closing procedures by explaining them all in advance.

What My Family Should Know

A Guide For Getting Your Affairs In Order

Being a home owner comes with added responsibility, particularly, as your home becomes a financial asset. After all, if you don’t already own your home, you will eventually pay off that mortgage.

But sometimes life deals us with traumatic blows and our future plans do not necessarily work out as we may have envisioned. The fact remains that we will not live forever. Some of our deaths will be anticipated while others may be completely unexpected. We can do much to alleviate at least some of the suffering our survivors will go through when our day comes.

Make it easier for loved ones to put their hands on important information in the event of your death or sudden incapacity. Although many of us are efficient in our daily lives and keep meticulous records in our professions, most of us leave inadequate and incomplete records of our economic and personal affairs when we die.

How your estate will be settled are many questions that must be answered. Take some time from your busy schedule to gather the personal details suggested in this guide titled “What My Family Should Know“. The guide will help you record the necessary facts for your family, your attorney and your executor. Then place the completed guide in a safe and secure place that is accessible to those closest to you. I wish you a fulfilling life with much happiness and love and hope you find this guide helpful to you and your loved ones. As always, if you ever need any assistance with your Oahu real estate, I am just an email or phone call away, and I am always willing to listen, and when appropriate, offer advice and help.