What's Your Paradise?

Join our ongoing discussion about Honolulu, Hawaii real estate by answering the important question: "What's Your Paradise?".  We'll explore the properties our subscribers and clients consider to be paradise...from humble beach cottages to multi-million dollar mansions in the city.  

April 23, 2016

Searching the MLS

Transcribed from the video:

Aloha, let’s search Oahu’s Multiple Listing Service at HawaiiSands.com

We’ll begin by viewing the total number of Homes and Condos available on the Market today.

On the home screen go to the Search Box.  Select “All Areas”, All Neighborhoods”, “No Price Limit”, and leave Beds and Bathrooms at “Any”.

Select Search.

The listing service is updated every five minutes, at the time of this recording there are a total of 3,496 properties.  Now that we’ve seen how many properties are available, let’s refine our search.

Let’s say you’re looking for a two bedroom, two bath home for your family of four. 

Click on Refine Your Search

For the purposes of this example select a

  • Region, 
  • Choose a type, 
  • A price range and 
  • Complete as many fields as you want

 Press Search

You can see we refined our property list down to 65.

Let’s choose a property…

It’s easy to view property details such as:

  • Photographs using the Gallery View
  • Square Footage
  • Land Area
  • Amenities
  • Parking Features
  • and much more...

If you’re interested in a property, you can add it to your Favorites list.  To use this feature you may be prompted to set up a free account.

You can also request additional information about the property and request to tour the property in person. 

Click on Back to Results

Now that you know how to search the Multiple Listing Service you’ll be able to find just about any type of property you’re looking for.

Posted in Hawaii Buyers
April 23, 2016

Sellers Market: No End In Sight

It may be a little known fact, but the overall US economy has been on one of its longest economic expansions in history...over 5 years and counting.  This means that home owners are now seeing a good amount of equity in their homes that they didn't realize was there. 

According to RealtyTrac's March and First Quarter 2016 Home Sales Report, nationally the average seller has seen a 17% gain, or $30,500.00 more than what they had paid for their property. This is the highest average price gain for sellers in any month since December 2007.

Here in Hawaii the story is no different where we are encountering a strong seller's market similar to 2006 and 2007 with many properties receiving multiple competing offers within days of being listed.  There is limited inventory below the million dollar price range for single family homes and most new housing developments/condos are being built for the luxury or investor market.  This means that we can expect to see a continued seller's market on Oahu for the foreseeable future barring a national or international economic crisis.

Data from the Honolulu Board of Realtors shows the median single family home price on Oahu rose to $725,000.00, a 3.6% increase from 2015.  Single family home prices on Oahu in 2015 rose 7.2% from the year before.  Median condo prices rose to $385,000.00 from $380,000.00 in 2015, an increase of 1.3%.  

According to Daren Blomquist, RealtyTrac senior vice president, "Home sellers in many markets are now seeing average price gains close to or above what home sellers experienced during the last housing boom."  Mr. Bloomquist went on to say "That should encourage more home owners to take advantage of the prime seller's market and list their homes for sale this year."

Here are the metropolitan areas that have seen the largest average gains nationally:

1. San Francisco, CA: 72% average gain

2. San Jose, CA: 60% 

3. Boulder, CO: 53%

4. Prescott, AZ: 51%

5. Los Angles, CA: 48%

Curious about how much your home on Oahu may be worth right now?  Visit our website to obtain a free home value report and search sold properties in your area.  

 

- David "Dave" Moyer, R(B)
Hawaii Sands Realty

 

Posted in Hawaii Sellers