Hawaii Randy's Real Estate Opinions: September 2008

I have noticed a pattern of behavior among several real estate agents that makes me think representing yourself can be a bad idea.  I know attorneys and doctors use other professionals to represent themselves and maybe we should consider that in our industry as well.

It seems that all logic goes out the window when some agents handle the sale of purchase of their own property. 

I have seen listing agent owners who:

• Overprice their homes.
• Under advertise it.
• Do not clean them.
• Restrict showing appointments.
• Do not answer their phones.
• Don't put pictures in the MLS.
• Misrepresent the properties.
• Have unpermitted work done.
• Are generally difficult to deal with if in escrow.

Agent buyers who:

• Shoot low ball offers.
• Make offers that are mortgage fraud.
• Are unreasonable at the time of the inspections.
• Don't return phone calls or messages.
• Don't follow the time line.

It is amazing at times to see an agent who is generally considered to be a top professional, do things they would never allow a client to do.  When their own money is on the line they turn from Dr. Jeckle to Mr. Hyde.

Just something to think about.

Kapolei - Corner Home

• Kekuilani Palms  MLS No.  2814914
• 91-1011 Ipolani St. -  Kapolei, HI  96707

This lovely home has a security alarm, split air conditioning, a modern kitchen with upgraded appliances, and upgraded high end front loading washer and dryer on pedestals. 

• 2 bed / 2 bath/ 2 car garage
• Large dining area, 990 sq/ft living,
• 3052 sq/ft land, 401 sq/ft. carport
• Built 1994, Taxes $84/month,
• Community Assoc. $44/Month

http://www.kapoleihome.com/

 

http://www.kapoleihome.com/

This is the question on many people's minds.

Here is a few of my observations. 

1. Oahu prices are fairly stable compared to most parts of the country.  We have seen a slight slippage overall in median prices.  A few areas have seen larger drops like Ewa Beach, which has short sales, foreclosures and developers in the area competing with resale homes.  Areas like Kahala have seen price increases.
2. Although sales units are down, homes are still selling if priced correctly and in proper condition.
3. Interest rates are fairly low.  Immediately after the Freddie and Fannie announcement, rates took a quick dip and are still down.
4. We live on an island.  There is only so much real estate available.
5. We are looking like a great place for out of state investors.

If you have been waiting for the bottom or are nervous about the lending industry, you may want to make a move soon.

Our market real estate prices seem to be somewhat stable.  Mortgage money is available and at pretty good rates.  We do not know how long that will be the case.  The lending industry is changing daily.  Anyone who predicts what will happen is crazy or being dishonest.

If you are thinking of selling your home, interest rates are down and buyers can buy.  You will be competing with many others so pricing and condition are very important.

If you are thinking about buying, there is a good selection of inventory and the lower interest rates will allow you to buy more for less.

In any case this is a time of change and working with top professionals is a must if you are looking for success.  You want a real estate agent who is experienced and an expert in that community.  You want a loan officer who is good at what they do.  I personally prefer working with the funding lenders.  That is an entire blog post of its own.

If you are a buyer, mine and most REALTORS® services are normally free to you, so get the best you can find.  If you are a seller, I and most top REALTORS® will give you a free evaluation of your home and make recommendations for getting it ready for sale.

Times are a little uneasy, but there are many opportunities out there.

I was reading a post from WooHoo Celeste "Sally Cheeseman today.  Professional Attitudes & Behaviors Online.

She discussed what we write about other agents.  It made a real good point.  Some agents post comments on the blogs about other agents, naming names and/ or companies in a negative light.

I feel strongly that this is totally wrong and a violation of our Code of Ethics (COE).  I feel it is perfectly acceptable to discuss behaviors and business practices openly as long as we leave off names.  I also get concerned when agents discuss things about their clients in a similar manner, especially when they include pictures of their homes that make it clear who they are speaking about.

Have you ever heard the words "law suit" or "ethics complaint"?  If you are writing and posting these kinds of details, get ready for your day to get a lot worse.  Once that attorney contacts you or the Board of REALTORS® your day is not going to get any better than it is at that moment.

If you feel like ranting, use a little judgment and common sense.  Discuss behaviors, professional standards and ethical behavior.  Leave off names and details that point out individuals are companies.

What you write tdayo will be floating around in cyberspace for many years.  Just remember "anything you say can be used against you."