Investment Opportunity in Hawaii Property

If you are looking for a property that has good investment potential, consider this Kaawa Property. Existing on the property of over 13,5oo sq.ft. is a 2 story home of 1804 sq.ft. that is need of your TLC. This property has the possible potential to become a CPR with two street accesses between Hiwahiwa and Haahaa St. Enjoy wonderful ocean and mountain views from within the home or from your yard. Stroll down to Kaaawa Beach Park or the local stores. This property is ideal for a large, extended family lifestyle or developer. The home is Ohana eligible. The list price is $850,000 and this motivated Seller is represented by Hawaii Realty Associates. The Trinity Properties sales team would be happy to represent you as our Buyer for this property and eager to assist you with all your real estate needs including property management,long or short term rentals, fractional ownership and sales. We are happy to put our many years of market knowledge and successful sales experience to work for you!

Buying a Home in Hawaii? Local Lenders Give Assurance

There has been much press recently on bankruptcies, the closing of loan offices and layoffs that are the natural fallout of some national lending institutions and their practice of risky lending, unstable mortgage rates and weak underwriting standards all in done in an effort to lend to marginally qualified Buyers.
If you have been considering purchasing real estate for investment or as a personal home, all of this press may have you wondering. Most of the abusive lending practices have occured in the subprime market on the mainland. You can be confident that the local Hawaii lenders have maintained their standards and have carefully and wisely followed proper guidelines.
At Trinity Properties, our sales agents have fostered and maintained excellent relationships with local lenders who have a long history of professional and prudent standards. These relationships are an added value for our clients who may not have been buying real estate for as long as we have been selling it. During these changing times, it is reassuring to know that our years of successful and ethical real estate experience can be trusted.

Fractional Ownership and 1031 Exchanges

For those of you who may find themselves in a situation where a 1031 Tax Deferred Exchange is appropriate for their situation may be wondering if Fractional Ownership is for them. The following information supplied by Steven R. Lee, Attorney who has formed HOMESHARE HAWAII LLC for the purpose of providing service and information to those considering Fractional Ownership, will be useful.
"Generally speaking, any investment property can be used in a 1031 exchange. You could view this property as either an investment or a second home. The rules are different, and depending on your plans and actual use of the property the answer might change. Each transaction is evaluated with a combination of factors, and you must consult your tax professional for your personal situation. It is safe say in general that buying an interest in a Hawaii house or condominium is an appropriate investment and could also be a second home. there are exceptions. Ask."
If you want the latest market information and professional service to help you identify your first home, second home or investment property, ask the Trinity Properties Sales Team. They are prepared with all the information and experience needed to make your dreams a reality!"

Hawaii Home Resales are among the Strongest Nationally

According to the National Realtors Association study of 149 Metropolitan areas during the second quarter for 2007, Hawaii resales ranked fourth in the nation.
Only California was ahead of Hawaii. The three major areas in California that were ranked first, second and third respectively are San Jose/Sunnyvale/Santa Clara, San Francisco/Oakland/Freemont and Anaheim/Santa Ana (Orange County), California.
Oahu was one of 97 metro areas nationally that showed a price gain. Fifty markets experienced price declines.
The senior economist for NAR, Lawrence Yun, feels the price trend is encouraging. "Although home prices are relatively flat, more metro areas are showing price gains with general improvement since bottoming-out in the fourth qtr. of 2006," he said. According to the NAR prices in many of the high cost markets prices have declined while prices in lower priced markets has risen. So we can conclude that the market is balancing itself out and maintaining it's health at the same time.
If you have been considering making an investment in real estate in Hawaii, now is a good time. And for guidance, insight and experience in the what, where, why of purchasing real estate in Hawaii, you can count on the Trinity Properties Sales Team to help you achieve your goals. Give us a call today!

Protecting Your Home and Investments

It is hurricane season in Hawaii until November and for those of us who make our home here or who have investment properties here it is wise to know how we can protect ourselves in the event a hurricane visits our shores.
At this time we are watching Hurricane Flossie that is considered a Category 1 hurricane.
Here are some tips from the Red Cross to remind us about what we need to do to prepare in the event of a hurricane or storm situation.
*First aid kit and essential medications.
*Canned food and can opener.
*At least three gallons of water per person.
*Protective clothing, rainwear, and bedding or sleeping bags.
*Battery-powered radio, flashlight, and extra batteries.
*Special items for infants, elderly, or disabled family members.
*Written instructions on how to turn off electricity, gas and water if authorities advise you to do so. (Remember, you'll need a professional to turn them back on.)

If you have any concerns about your property, please call on the Trinity Team. We are happy to provide you with the most updated information. We are service oriented company and will make your needs our first priority.

Best of Island Living Offered for Sale

In Kailua, in the Enchanted Lakes neighborhood is a canalfront home for sale at $1.299 million. This spacious home of over 2,218 Sq.Ft. of interior space is situated on a lot of over 8,834 Sq.Ft. The additional space of 400 Sq.Ft is the enclosed garage.
Features of this 5 bedroom, 3 full bath home include a sparkling blue swimming pool surrounded by a natural stone deck upon which a Sundance Spa has been placed for your relaxation and enjoyment. The home has been remodeled and includes many upgrades.
In addition, a 2 bedroom/ 1 bath attached cottage is part of the overall living space of the home that can just as easily be opened up to accommodate the needs of a larger family.
What is there to wait for? This home affords the best of island living and is being offered for sale by Coldwell Banker Pacific Properties. We at Trinity Properties would be proud to represent you as our Buyer in the purchase of this or other properties currently on the market for sale. At Trinity Properties you can always be assured that your needs come first!

Oahu Home Sales Hit Brisker Pace

I have included below an article published in Pacific Business News on Oahu sales activity for the month of July. Although the cost for a new mortgage may be slightly higher than one year ago, sales continue at a brisker pace than earlier this year. If you have questions about how this market may effect the value of the home you currently or are thinking of purchasing, please call upon the Trinity Sales Team. We are the professionals with the most current market knowledge and over 18 years of successful real estate sales experience.
Oahu Home Sales Hit Brisker Pace
Pacific Business News (Honolulu) - 10:12 AM HAST Thursday, August 2, 2007
Sales of single-family homes and condominiums on Oahu hit a brisker pace last month, with the fewest average days on the market recorded this year.
Prices dipped slightly for houses, while condos broke last month's record high, according to statistics released Thursday by the Honolulu Board of Realtors.

The median price for a condo on Oahu in July was $335,000, about a 2 percent increase over the same month last year, and just $1,000 more than June's record median price of $334,000.
Board research economist Harvey Shapiro noted that condo prices have increased steadily since October, when the median was $310,000.
The median price of a single-family home dipped to $640,000 in July, down 3 percent from the July 2006 median price of $660,000, and more than 6 percent lower than last month's record high of $685,000.
"Median prices declined a bit, but this is more related to where sales occurred geographically than any significant depreciation in values," said Berton Hamamoto, president of the Honolulu Board of Realtors. "Fifty-five percent of single-family home sales this month were in the more affordable Leeward Oahu area, compared to 44 percent last month, which helps explain the variances we experience in median prices."
Year-to-date median prices for the first seven months of the year were $645,000 for single-family homes and $325,000 for condos.
The number of sales in July fell for both categories, the board said. There were 339 single-family homes sold last month, down more than 10 percent from July 2006 when 379 houses sold.
The 457 condos sold in July were more than 8 percent fewer than the 498 units sold during the same month last year.
However, the average number of days on the market for single-family homes dropped to 37 days, the fastest pace for this year and about a week faster than this time last year.
The figure for condos fell to an average of 35 days, three days faster than a year ago.
Shapiro said the cost of financing a home has risen, with a 30-year fixed-rate mortgage today costing about 6.25 percent, about a half-percentage-point higher than at the beginning of the year.
"This rise has a significant effect on our housing market since our mortgage balances are among the highest in the nation," he said.

Perfect Home for Entertaining, "The House of the Living Tarot"

Driving along the Pali Hwy. as you leave downtown Honolulu on your drive to the Windward side of the island, one may notice a for sale sign on a property along the way. An interesting house sits on the large lot of over 24,000 sq.ft. resembling in style something from a turn of the century New England. By appearance, the house looks abandoned but Artistic Director, Cheryl Flaherty of the renowned Iona Dance and Theatre Company has breathed a new life into it using it as an artistic setting for her latest Salon Series production, "The House of the Living Tarot."

Each room of the home has been staged for one of 10 characters of the Major Archana of the Tarot deck. For those unfamiliar with the Tarot, it is best known for ages as a fortune telling card. Each of the Iona Dancers will present an interpretive piece according to the archetype they have been selected to portray. According to Cheryl, the dancers were matched with archetypes they were selected to perform based on their personalities and life experience. "My dancers are so talented and strong. And I know them so well that I have been able to match them with their cards beautifully."

If you are fortunate enough to have a ticket to experience the performance, you will be dealt a hand of 10 cards upon your arrival. Each person attending will have the same 10 cards but in different order. According to the order you were dealt, you will proceed through the rooms of the house to interact and enjoy the individual performances. According to Flaherty, "You may have a couple of cards (in common) with the person that you've attended with. But this is a journey of the self."

So if you are looking for something extraordinary to do on the island of Oahu, consider meeting the archetypes including the Magician, The Lovers, The High Priestess and others. Tickets to the show are available through the Honolulu Box Office at, www.honoluluboxoffice.com or call 550-8457. Tickets are available for the Sunday afternoon performance and due to popular demand,shows on Thursday, August 9th and Friday, August 10th have been added.

And if you are looking for an extroridnary home of of a different nature, consider the Trinity Properties sales Team. They are amply experienced and highly creative at making the magic of your dream home come true!

Favorable Interest Rates for Buying Homes in Hawaii

While there has been much press on the secondary mortgage market and a tightening among lenders for those seeking mortgages, "First Hawaiian Bank cut its 30-year fixed rate mortgage back to 6.25 percent this week while Bank of Hawaii held at 6.375 percent." as reported by Pacific Business News.

The Honolulu Board of Realtors reported that Wells Fargo Home Mortgage who does a good deal of residential loans in Hawaii also cut their mortgage rate back to 6.25%. The APR's on these rates that includes fees was more than 6.5 percent while First Hawaiian and Territorial Savings Bank, which was already at the 6.25 percent, had APR's below 6.5 percent.

American Savings Bank, Central Pacific Bank and Finance Factors also remained at 6.375 percent as did Bank of Hawaii. These rates are lower than national rates that have eased to an average APR of 6.75 percent.

Although these adjustments may seem modest, they may be the deciding factor for those Buyers needing to qualify for that new home purchase. Overall, the lending rates are favorable for buying a home in Hawaii at this time. If you have been considering making a purchase, we hope you will contact the Trinity Properties Sales Team. We are ready with all the current market information and over 18 years of successful real estate sales experience to assist you in finding the home of your choice in beautiful Hawaii!