Nick Kawakami

Real Estate Service Powered by Innovation

Real Estate

As the Summer Finishes, Price Strength Continues

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Happy August everyone, and as the mainland braces for the coming fall, we continue to see a strong sales market here in Paradise! As expected, the low inventory has restricted the number of sales last month and pushed median prices higher than last year!

hbr-july-2016-housing-stats

While median prices dropped slightly versus our record-breaking June, both Single-Family (SF) homes and condos are up 6% and 14% over July last year. On top of that, both SF homes and condos are seeing close to 100% listing-to-sold pricing, meaning that even though Sellers are pushing prices, Buyers are willing to pay. The inventory trend will probably soften a little, especially as we enter the cooler winter season, but don’t expect to see a shift from this up market anytime soon.

Snapchat at my Open House!

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Is it a sign of the apocalypse? Am I grasping at any attempt to feel young again? Will anyone even use this? Whatever the case, I know you all have been desperately waiting for…SNAPCHAT FILTERS COMING TO OPEN HOUSES! Yes, Ladies and Gentlemen, don’t turn that television dial just yet, because I have got a deal for you!

In actuality, this is merely me trying out something new. Here’s a preview of it, designed after a famous cartoon hunter…

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I don’t know how it will go over at tomorrow’s open house, but I figured I should give it a shot and see how it goes! It’s more about the experience anyway, learning how the process works and figuring out applications in the business. If anyone does decide to actually use it tomorrow, then whoopdeedoo!

Limited inventory and market uncertainty continue to push record numbers

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“Prepare housing market for ludicrous speed! Fasten all seatbelts, seal all entrances and exits, close all shops in the mall, cancel the three ring circus, secure all animals in the zoo!”

It’s amazing to see prices continue to rise, but with limited inventory and uncertainty in the marketplace, it’s easy to see why. Elections? Low Interest Rates? Rail? Job market? There are a lot of reasons why people are looking to settle into a new home, and competition is fierce!

hbr-june-2016-housing-stats

With only about 3,000 active properties on the entire island of O’ahu (condo & single-family homes), it’s no wonder that there is a lot of competition for buyers in the market. The market shows condos as the biggest gainer, possibly due to the squeeze down from high home prices. It may also be due to the fact that many of the Sellers coming from houses are taking advantage of the juicy market and opting to downsize. Either case, it will be interesting to see if this trend continues through the summer.

Hawaii Mortgage Application Defects Fall 6.67% in 2015

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The First American Loan Application Defect Index, which estimates the frequency of fraudulence and defects in mortgage applications, shows Hawai‘i defects fell in 2015. Good news for those in and around the mortgage market! [Read more…] about Hawaii Mortgage Application Defects Fall 6.67% in 2015

5 Ways Marijuana Legalization Affects Hawaii Real Estate

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Change is coming (whether you like it or not), and the legalization of marijuana will have an impact on the local real estate market. Over the next couple of decades, and with earnings estimates in the hundreds-of-millions of dollars, it will become a legitimate business and a part of our daily lives. Here are five major ways that it will affect Hawaii real estate, and what to look out for in the years to come. [Read more…] about 5 Ways Marijuana Legalization Affects Hawaii Real Estate