Hawaii Randy's Real Estate Opinions: September 2007

Mililani is tied for first place with their close win over Aiea.  The game was quite exciting top see.  The Mililani side of the stadium and standing room only and the fans showed extreme school spirit throughout the game.

Mililani had a well rounded offense and defense.  Aiea featured a quarterback and receivers that kept the game close and exciting throughout.

The hit of the game was delivered #20 Shaw Alesna of Mililani on a kick off.  The hit could be felt in the stands.

The play of the game was a blocked punt by Mililani.  The following play #2 Michael Among-Serrrao ran 33 yards for a touchdown.  He finished the game with 20 carriers for 123 yards total.

Aiea's receiver James Buchanan #23 kept the game close with several key catches.

The halftime show was really great.  The Trojan Marching Band put on a first class show that made the school proud.  The homecoming court had my step son and Offensive lineman #68 Daniel Macalino as the Homecoming Prince/ Junior class representative.  He escorted the princess across mid-field in uniform with a lei and sash.  He looked to be one happy young man. 

Congratulations to the Trojans and to the faculty and families at Mililani High School for putting on such a great event.

Attached are some pictures from the homecoming parade that proceeded through Mililani at mid day.

A few days ago I received a message from Andrew Trevino saying that you have been MEME'd.  I apologize for taking so long to do this. I have been so busy with work that I have had a hard time getting my Active Rain fix. 

Well here is my life:

I am married to my wonderful wife Darnelle for going on 14 years.  At the time we got married my wife had a three year son, Daniel.  I am Daniel's Dad a responsibility I was proud to take on.  After a few years, Jacob came along and we stopped with two sons.

What little spare time I have has been spent teaching chess and organizing events for the last 12 years.  Both of my son's play competitively and have won a few trophies and medals each.  My youngest Jacob is the reigning Kindergarten state chess champ.  He also plays soccer in two different leagues and nicknamed his right foot: "Thunder Foot"  I coach his AYSO team.

My oldest Daniel plays offensive line for the Mililani High School football team.  He will be in the court at next week's homecoming parade, which is a big deal in our town.

My wife lovely wife Darnelle is the love of my life and what keeps me going.  She is normally an impatient person, but has the patience of a saint when it comes to me.  Her e-mail address used to be chesswydow, but changed it to chessmom when the boys started playing also.

I was born in Racine, Wisconsin.  I grew up in Logan Square, a neighborhood on the northwest side of Chicago and have lived in Hawaii most of my adult life after moving here at age 21.

1)  I hate to wear a tie; a good reason to live in Hawaii.  Fortunately in Hawaii, aloha shirts are the closest thing to a tuxedo.  I normally wear golf shirts with my name and Century 21 logo embroidered on it.

2) I heavily volunteer in the community and sit on several boards including:

• Commissioner, State Civil Defense Advisory Council
• Vice-chairman, Honolulu Board of Realtors, Leeward Region
• City Affairs Committee, Honolulu Board of Realtors
• President, Hawaii Chess Federation a501(c)3
• Vice-President, Director, Mililani Chess Club a501(c)3
• Coach / Referee, AYSO Youth Soccer
• Vice Chairman, Mililani Drug Free
• Vice President Mililani Garden Homes AOAO

I have also volunteered and sat on boards for several other non-profits and community groups and have been politically active over the years.  I also build and donate websites to several school and community groups in my community.

3) I enjoy technology and have been building my own websites for several years.  My Treo phone does not have internet.  I get to many e-mails and the screen is too small for my liking.  I carry a laptop with a Sprint Card along and always have a digital camera with me.

4) I have completed a strict doctor supervised diet to get better control of my health.  I lost a little over 175 lbs in 12 months and have now leveled off my weight.  From my heaviest weight which was about three years ago I down a little over 210lbs.  Since going on the diet I have completely reversed the effects of:

• Diabetes
• Sleep Apnea
• Acid reflux
• Back Pain
• Labored breathing

I now hit the gym in the mornings and play an occasion game of basketball or soccer with my son's team.

5) My slogan is "Not Just Another Pretty."  That has been my slogan from the beginning.  Several folks have suggested that I update it since losing the weight, but I like it and am known by it, so it will stick.

So now that you read about my life; it is my pleasure to pick on 3 new victims to MEME. I would like to choose three local folks from Hawaii:  Donna Shefcheck , Pete Castillejos and Joe Schmitz.

Go for it guys!! 

I have run into several listings that are over priced and under marketed.  When I checked the tax records, I found it belonged to the listing agent.  In a couple of cases they belonged to agents in the area, who I consider pretty good agents.

Yet when it comes time to sell a property they own, they seem to forget everything they know about selling homes.  Over priced is a common theme among many agents who sell their own properties.  It is a case of do what I say and not what I do.

I just got a response to clean offer I submitted Monday.  The agent was also the seller of the condo.  My clients offer was $4000 less than the last closest comparable unit.  The last comparable unit had two parking stalls and this one had 1 parking stall.  The offer was $5000 less than the highest, nicest unit sold in the last 6 months.  My client had a good down payment and a strong bank letter from a local funding lender.  A buyer we all dream of. 

• Did we get an acceptance which any agent would have recommended to their client?  No
• Did we gat a counter offer? No
• We got a rejection.

No, this is not a seller's market.  We are in a much stronger market than most parts of the country, but give me a break.  I am sure that same agent would have been bouncing off walls if one of her clients did the same thing in the same situation.

I have read other blog posts that suggest that when an agent sells their own property, they should get another agent to represent them.  I am not sure if this is always necessary, but in some cases it may be the best medicine.

This Mililani sales report covers zip code 96789 which covers both the Mililani Area (which includes Mililani Town, Launani Valley) and Mililani Mauka.

The Mililani real estate is still moving strong.  We are still seeing good real estate activity in the Mililani area.  With low interest rates and a little more inventory, buyers are still able to buy the home of their dreams, while sellers are beginning to see properties moving again.

Single Family homes sales volume was off earlier in the year, but has picked up in August.  Sales prices in Mililani have shown small gains over 2006, despite all the negative media reports.  Year to date numbers indicate that the Mililani real estate market is holding strong.  Inventory has come down a little in the last few months.  With mortgage rates remaining low, the new home developers finishing out in the area and many our troops returning to Schofield Barracks from Iraq low look for prices and sales volumes to continue to see modest increases over the next few months.

Condo and townhouse sales are still looking strong.  Inventory is relatively low and average sales prices have continued to climb in Mililani Mauka and in the other areas have remained stable.  Sales volume has continued at the 2006 levels.  It is a good time for buyers to find the home of their dreams and for sellers who have their properties ready and priced appropriately.

Currently Active for Sale (September 9, 2007): 

• 50 Single Family Homes - Mililani Area
• 37 Single Family Homes - Mililani Mauka
• 73 Condos/ Townhouses - Mililani Area
• 25 Condos/ Townhouses - Mililani Mauka

Currently in Escrow (September 9, 2007):

• 17 Single Family Homes - Mililani Area
• 15 Single Family Homes - Mililani Mauka
• 25 Condos/ Townhouses - Mililani Area
•   5 Condos/ Townhouses - Mililani Mauka

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

Mililani Links:

• Mililani Town Association: http://www.mililanitown.org/
• Mililani Drug Free: http://www.Mililanidrugfree.org/
• Mililani Chess Club: http://www.mililanichess.org/
• Mililani Real Estate: http://hawaiirandy.com/
• Mililani, Hawaii Real Estate Sales Activity for April 2007

Mililani Blog Posts:

• Welcome to Mililani - Part 1 the Shopping Centers
• Welcome to Mililani - Part 2 the Planned Community
• Welcome to Mililani - Part 3 the Surrounding Communities
• Mililani is Pet Friendly 
• Mililani, Hawaii Directory of Schools
•   
• 12 Great Reasons to Buy a Home in Mililani, Hawaii
• Mililani - Q1 2007 Real Estate Sales Activity of Existing Homes
• Mililani, Hawaii Real Estate Sales Activity for May 2007
• June 2007 Real Estate Sales Activity for Mililani, Hawaii
• Real Estate Sales In Mililani Seems to be Picking Up
• Real Estate Sales Activity in Mililani
• Mililani Townhouse Sales are on Fire!
• Mililani, Hawaii - A changing market, many opportunities
• Mililani Chess Kids are Still Flashing Their Stuff
• Mililani Middle School Brings Home State Chess Title
• Mililani High School Cheerleaders Take Their First State Title
• A Sunny Day of Chess and Real Estate in Hawaii
• Mililani HS Wins OIA Softball Title
• Are You Involved in Your Community? If Not, Get to It.

Let me start by saying I am speaking about a minority in the professional, but they do seem to come in clusters.

Rude Agent #1:

I get a call from an agent who says her client came to my open house two weeks ago and liked the home.  The client has been bothering her to put in an offer.  Did you pick up on that comment?

• Rude Agent: I am in front of the home and see in the MLS you have to be there for showings.  How soon can you get here? 
• Me: I am with a client on the other side of the island and will be available in about three hours if she would like to meet me then.  I am also available in the evening or the after 3pm the next day.
• Rude Agent: I have other things to do than come back.  So you can't come right now?
• Me:  I am with a client showing property for another hour and I am about a 1-1/2 hour drive from there.  I would be glad to meet you when I am back on that side of the island.
• Rude Agent:  It doesn't sound like you want to sell that house.
• Me:  I am sorry you got that impression.  Can you explain to me why you have waited two weeks to see a home your client wants to put an offer on and you would not call ahead before showing up at the listing?
• Rude Agent: I am busy.

I didn't say the obvious, but if she is too busy to write and offer or to make a phone call.  How does she find the time to drive to a home she has no access to?

Rude Agent #2:

1. I receive an offer over $200,000 below asking price on one of my listings. 
2. No pre-approval letter from a lender.
3. Subject to buyer selling another property.
4. No information on the contingency.
5. No address, no nothing.
6. Missing signatures from the broker, the agent and the buyers.
7. You get the idea.
8. My clients rejected the offer.  No surprises here.

• Rude Agent #2: What no counter offer?
• Me: My clients rejected the offer.
• Rude Agent #2: But my clients really want this home.  What price will they accept?
• Me: my clients did not get the impression your buyers were serious from the offer.  We are miles apart on the price, there was no loan approval letter, the contingency had no details and the contract was missing key signatures.  I can not say what price they would accept, but I am sure they would like the asking price and a clean contract.  If you bring another offer, I will present it immediately to my clients.
• Rude Agent #2: They want too much.  Why would they not counter?
• Me: We are too far apart and the contract is incomplete.  What is the status of the contingency?
• Rude Agent #2:  That doesn't matter, your clients can continue to market their home while we try to sell their's.
• Me:  It is not even in escrow?
• Rude Agent #2: That doesn't matter.
• Me: Let me get this straight.  You want my clients to take their home off the market, for an offer that is not executable, is more than $200,000 below asking price, with no loan approval letter and you broker has not even signed.
• Rude Agent #2:  If the price is a problem, tell me what they will take.

The saddest part about the second story was I met the buyers.  They loved the home and really did want to buy it.  I am convinced that their agent is either incapable or unwilling to be a professional and will most likely never get it.

I am sure if you have been in the business long you have many similar stories.

I put off going for my e-PRO designation for some time.  My initial instinct was that I was pretty techie and already had my CRS.  Why would I need e-PRO?

Over the last few months a few friends of mine including WooHoo Sally Cheeseman picked up the e-PRO and felt it was worth getting.

As part of my business plan to take professional development classes and earn key designations, I decided to go for it.  Even though I am a technically knowledgeable guy, how would the public know?

So here is my experience with the e-PRO online course.  The material was quite good.  It may have been a little basic for me, but I feel that the average real estate agent would have been challenged by it and would have learned a lot.

One of the benefits I got from the course was that it forced me to further investigate some of the venders like Settlement Room and Relay 5.0.  Something I have been putting off and needed to get done.  The end result is that I have purchased Relay and will be bringing it on line this upcoming week.

My recommendation is for agents sitting on the fence, is to take the course.  You will pick up several good tips that will help your business and you will let the public know you are an internet professional.

Ocean Pointe a planned community in Ewa Beach, Hawaii (makes up part of tax map key 191).

Single Family homes: Average sales prices of single family homes are down a little from 2006.  Sales volume is has seen a little bigger drop from 2006 levels.  Inventory has come down a little more from last month, but we are still looking at about 5 months worth.  Buyers will continue to find sellers that may be a little negotiable.

Condo and townhouse sales are another story.  Sales volume has shown drops over 2006 levels.  Average sales prices has a slight decrease year to date from 2006.

Currently (September 1, 2007) under the "Active for Sale Category" there are: 

• 54 Single Family Homes
• 39 Condos/ Townhouses

Currently in Escrow:

•   7 Single Family Homes
•   7 Condos/ Townhouses

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/

Las Brisas is a development within the planned community of Ewa Gentry in Ewa Beach, Hawaii (makes up part of tax map key 191).

Single Family homes: The numbers in Las Brisas.  Sales activity in Las Brisas has continued to be softer than 2006.  There is a lot of new home developments in the area competing with the resale market, along with a large amount of resale inventory in the neighboring communities.  It is a good area and time for buyers to find good deals while interest rates are still low.

Currently Active for Sale (September 1, 2007): 

• 3 Single Family Homes

Currently in Escrow (September 1, 2007):

•  3 Single Family Homes

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/

Single Family homes: Sales volume is still too low to draw conclusions.  Most of the homes are less than 2 years old.  The resale prices are very attractive for first time home buyers who are looking to enter the market.

Currently (September 1, 2007) under the "Active for Sale Category" there are: 

• 8 Single Family Homes

Currently in Escrow:

• 2 Single Family Homes

*These numbers were taken from the Honolulu Board of Realtors MLS system and are deemed to be accurate, but not guaranteed.

You can find out more about real estate in Hawaii at: http://www.hawaiirandy.com/

Or at: http://www.localism.com/