Local Businesses Find Deals as Hawaii Real Estate Investment Shrinks

Large institutional investors, hobbled by the global financial crisis, have been largely absent from Hawaii, while local businesses snap up deals priced more around $20 million than $200 million.

Publication: Pacific Business News
Date of Publication: August 7, 2009 
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/08/10/focus1.html

Comments by Sachiko

According to the article, because of that, the dollar volume for commercial real estate investment has shrunk by 80 percent since 2007, when the top 10 commercial real estate transactions for the first six months totaled $765.6 million.

Hawaii Real Estate Market Expects Little Change

Hawaii’s real estate market is unlikely to see dramatic changes heading into 2010 as financing challenges continue to plague the commercial and residential sectors.

Publication: Pacific Business News
Date of Publication: September 25, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/09/28/focus4.html

Comments by Sachiko

The residential real estate market had been slow for the past several months.  Lately, the market becomes a little more active due to the federal tax credit up to $8,000 for first-time home buyers.  According to the article,  the recent activity that has kept residential real estate firms busy over the past few months could come to a halt in coming months unless Congress extends the Nov. 30 deadline for first-time homebuyers to close on a purchase and qualify for an $8,000 tax credit.

Hawaii Banks Carry $29 Million in Repossessed Real Estate

Hawaii banks had almost $29 million in repossessed real estate on their books at the end of the second quarter, but the amount in relation to total assets was less than half of what it was during the downturn in 2001.

Publication: Pacific Business News
Date of Publication: October 9, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/10/12/story11.html

Comments by Sachiko

According to the article, nationally, almost $34 billion in other real estate-owned property was reported by the 8,195 banks that report to the FDIC.

Hawaii Data Report | Neighbor Island Real Estate Transactions

 

Publication: HonoluluAdvertiser.com Business Section
Date of Publication: October 28, 2009
Article URL: http:/ / www.honoluluadvertiser.com/ article/ 20091028/ BUSINESS/ 91027089?source=rss_business

Comments by Sachiko

Neighor islands' property sales between Sep. 6 through 19. For Oahu sales info, please contact me at sachiko@homesbysachiko.com.

Foreclosures tripled in the islands last month compared to a year earlier.

Publication: KITV4 ABC: Top Stories
Date of Publication: January 16, 2009
Article URL: http:/ / www.kitv.com/ money/ 18490056/ detail.html

Comments by Sachiko

A deal to help head off more mortgage foreclosures pulled Wall Street out of a slump yesterday, giving stocks a mostly higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges alter loans in an effort to prevent homes from going into foreclosure. Other lenders are expected to follow suit.close.

Publication: StarBulletin.com Business Section
Date of Publication: January 9, 2009
Article URL: http:/ / www.starbulletin.com/ business/ 20090109_Mortgage_deal_sends_stocks_mostly_higher.html

Comments by Sachiko

Weakened construction activity and wholesale distribution are expected to drive warehouse vacancies on O'ahu above 5 percent this year from 4.36 percent last year, according to a new industry forecast.

Publication: Honolulu Advertiser
Date of Publication: January 2, 2009
Article URL: http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=2009901020332

Comments by Sachiko

 

Good home maintenance is key to creating and preserving a homes value. Not to mention, it also impresses potential buyers. Here are five basic steps that every home owner ought to take  before spending money on dream bathrooms or gourmet kitchens.

Publication: realtor.org
Date of Publication: December 31, 2008
Article URL: http:/ / www.realtor.org/ RMODaily.nsf/ pages/ News2007123102?OpenDocument

Comments by Sachiko

This is a good reminder for home owners to maintain good value of a property.

30-Year mortgage rate averaged just over 5 percent.

Publication:
Date of Publication: December 26, 2008
Article URL: http:/ / www.honoluluadvertiser.com/ article/ 20081226/ BUSINESS04/ 81226001/ -1/ RSS04?source=rss_business

A New York-based lender has filed a foreclosure lawsuit against developer Brian Anderson and one of his companies, claiming they owe $23 million on the loan used to buy a Kauai resort in 2004.

Publication: bizjournals.com
Date of Publication: August 8, 2008
Article URL: http:/ / www.bizjournals.com/ pacific/ stories/ 2008/ 08/ 11/ story1.html?b=1218427200^1682144

Comments by Sachiko

According to the article, the amount is what remains from the original loan of $85.75 million, which included the $75.75 million that KB Resort borrowed from subprime lender Fremont Investment & Loan plus an additional $10 million advanced in July 2006, according to the complaint.