Well, I'm not sure if that $3 million price reduction got your attention?
3239 Noela Drive
3239 Noela Drive in Diamond Head just reduced by $3,000,000 earlier this month. This is the 2nd $3 million price reduction (the last of which took place in June) since it's been on the market. The original asking price was $25 million and they hit the market in November of 2023. Now you might ask yourself, is this a good buy at $19 million? Or, is it not a good buy? I'm going to break it down the pros and cons of the current price and what you're getting for this trophy property at Diamond Head.
Overpriced?
First off, I'm going to talk about why this is not a good buy at the current price. This home has over 16,000 sq. ft. of living area. Not many people want to maintain a property that big, even if they can afford it.
Over 16,000 sq. ft. of Living Area on an Acre
Next, there haven't been too many non-oceanfront homes on Oahu that have sold over $10 million. In the past 10 years, there's only been 7 sales. The highest of those was for a new construction home in Lanikai for $14 million. The highest most recent sale north of $10 million was at 3222 Diamond Head Road (right around the corner from here) that sold for $12 million earlier this year.
Oahu Non-Oceanfront Home Sales Over $10 Mil
Lanikai Home Sale for $14 mil
3222 Diamond Head Road Sale for $12 mil
Now, those are the reasons why I don't think this is a good buy. On the flipside, some of the pros may outweigh the cons.
Or A Good Buy?
Now, let me break down the reasons why this is a good buy. The first reason is that sale on Diamond Head Road went for $2,549/sq. ft. on a lot that was less than half the size. The current asking price of this Noela home puts it at only $1,133/sq. ft.
I think if you were to take a poll if someone were to own a 16,000 sq. ft. home on an acre on the slopes of Diamond Head or a condo in Ala Moana? I think most would opt for the Diamond Head home.
Which Would You Rather Own?
The next reason is this is a bargain compared to other luxury market across the U.S., such as Aspen, CO, Malibu, CA, Miami or Palm Beach in Florida or Manhattan in New York. This is really a great value, especially what you're getting for a price/sq. ft. like we talked about earlier.
History on 3239 Noela
Now, for a little bit of history on 3239 Noela. Going back to 1987, local developer Jack Myers bought the McCorriston Estate for $1,350,000 and built a new home that was over 10,000 sq. ft. and featured a tennis court. He sold it in the year 2000 for $9 million, which at the time was a high price tag on Oahu, back in the year 2000.
Back When the Home had a Tennis Court
The next owner carried it for 19 years before selling at a loss in 2009 for $8,750,000. I though the current owner got a great buy back then, just after the financial crisis. However, they went on to demolishing the tennis court and adding an additional home (and pool) in its place. This brought the current living area up to 16,768 sq. ft.
New 2nd Home and Pool
Summary
Additional Photos of 3239 Noela Drive
Now, to recap this, there aren't as many buyers floating around out there that have the means to pay close to $20 million for a home here on Oahu. The truth is that these homes can take awhile to sell. Whether that buyer shows up next year or next month, only time will tell. If you're looking for some help navigating the luxury home market here on Oahu, or thinking about buying or selling, feel free to reach out and give me a call at 808-371-3509. Mahalo!
Aloha! Here we are on the corner of Leahi Ave. and Pualei Circle and today we're going to do a walking tour of Pualei Circle. As we promised a few weeks back, we did a a tour of the Gold Coast, which is going to be across Kapiolani Park behind here. We're going to start at the very base here at Pualei Circle at the Gregg Apartments, which is 3006 Pualei Circle. Then, we're going to a walking tour up the street and around the circle (like a clock) and we'll go by each building and explain everything.
Bonus Feature at the End of Tour
If you hang around to the very end, we're going to cover 2 bonus properties at the end, that are around the corner. They're technically not Pualei Circle condos, buy great Diamond Head Condos as well.
Gregg Apartments
As we start our walk up Pualei Circle off Leahi Ave., first off on the left hand side, we have the Gregg Apartments like we talked about. The address is 3006 Pualei Circle. There are 2 buildings - A & B. In the distance there, off Leahi Ave. and the common area swimming pool. Once again, buildings A & B. These are all 2 bedroom, 1 bath condos at roughly 650 square feet.
Leilani (Part 1)
Next coming up on the left is going to be Diamond Head Hale. Straight forward is going to be the Leilani, which is one of 3 buildings of Diamond Head at Pualei Circle. That address is 3030 Pualei Circle. You have a swimming pool there in the front. Then, we're going to cover the Leilani again when we hit the back part of Pualei Circle.
Diamond Head Hale
As we hook to the left here, you have a postal box if you want to drop your mail. Then, we have Diamond Head Hale on the left. They also have 2 bedroom, 1 bathroom units, but they're a little bit than the Gregg Apartments. They're more like 700-800 sq. ft. and they also have a common area swimming pool and an open (uncovered) parking lot. As we walk by, this will kind of give you a perspective of Diamond Head Hale.
Diamond Head Terrace
The next building we're going to approach on the left is going to be Diamond Head Terrace. Here, we've got a mixture of studios, 1 bedrooms and 2 bedrooms. Then, you've got the common area swimming pool there off Diamond Head Terrace Like most of Pualei Circle, these are "walk up" style condominiums with the stairs on the outside.
Hale Pua Lei
The next building we're coming up to on the left is Hale Pua Lei. What's unique about this building is it backs up to Waikiki Elementary. So, there's an open space out the back. In full disclosure, you will hear some noise from the school. What's nice about some of these upper floor units is you've got great views out towards Kapiolani Park. Hale Pua Lei is a mix of 1 and 2 bedroom condos.
Diamond Head Lanai
The next building on the left is going to be Diamond Head Lanai at 3103 Pualei Circle. This is one of 3 buildings I'd mentioned that falls under Diamond Head @ Pualei. We covered the Leilani earlier.
Ilima Apartments
The next building we have here is the Ilima Apartments, which has a great view of Diamond Head out the back. There, you have a mix of studios, 1 and 2 bedroom condos. Then, off that parking area to the left, you have the common area swimming pool for the Ilima Apartments at 3093 Pualei Circle.
Diamond Head Manor
As we make our way around the circle, we're going to be coming to the top of a clock in a sense. But, we've got one more building which is going to be Diamond Head Manor. This is the 3rd of 3 buildings that fall under the HOA of Diamond Head @ Pualei. There, we have Diamond Head Manor on the left at 3089 Pualei Circle. They have nice lanais and also a walk-up building, like pretty much everything in Pualei Circle (but 1 building next).
Pua Leahi
The next building we're going to be coming up to kind of falls at the top off the circle, which is going to be 3071 Pualei Circle, which is Pua Leahi. What's cool about this building is I believe it's the only one in the entire Pualei Circle that actually has an elevator. Some of these can actually come with more than 1 parking stall. What's also nice about these (outside of the Leilani) is this is the only building that has a 2 bedroom, full 2 bathroom product. That's one of the nice features of Pua Leahi.
Leilani (Part 2)
Speaking of 2 bedroom, 2 bathroom units, this is the backside of the Leilani at Pualei Circle. You have the 2 bedroom, 2 bathroom units at the top. They're 2 stories, which is kind of unique and this is the only building in Pualei Circle that is like that.
Diamond Head Plaza
Next on the left, we have a mix of 1 and 2 bedroom units at Diamond Head Plaza, which also consists of 2 buildings. Like I said, most of the 2 bedroom products in Pualei Circle are going to be a 2 bedroom, 1 bathroom product. Whereas, the Leilani and Pua Leahi have a 2 bedroom, 2 bathroom product.
Diamond Head Gardens
The next building we're going to be coming up to on the left is Diamond Head Gardens. This is a little sentimental to me. When my wife and I were first dating, she owned a unit here at Diamond Head Gardens, which has 2 buildings as well. There's a mix of 1 and 2 bedroom products and they do have a nice swimming pool out the back. The addresses are 3045 and 3055 Pualei Circle.
There's a mix of uncovered parking stalls you'll see off to the left. They have this nice mosaic tile decor feature here at Diamond Head Gardens, kind of a retro mid century modern typeface. Then, around the corner, you actually have some covered parking stalls underneath. As you look up, they have nice sized lanais, some of which the owners have enclosed and have put in shutters for sun protection. What's nice about those upper floors at Diamond Head Gardens have view above Diamond Head Alii, which is the next building we're coming up to on the left. Both at Diamond Head Gardens and Diamond Head Alii on the upper floors can see Kapiolani Park.
Diamond Head Alii
Here at Diamond Head Alii, if you look out the back, they also have a common area swimming pool. That's one of the access points. There are 3 separate buildings that range from 3017-2027 Pualei Circle. Diamond Head Alii is exclusively 1 bedroom, 1 bathroom condominiums. Unlike the previous buildings we just walked by and covered, there is not a 2 bedroom product at Diamond Head Alii. It's all 1 bedroom, 1 baths, walk-up condominium style living. There again (across the street0 is a post office box where residents can drop their mail at Pualei Circle.
Now, we're going to head back down to 6 o'clock, if you were to think of Pualei Circle like hands on a clock. As start walking back down the street towards Leahi Ave here. If we look off to the left, that's going to be another access point to the swimming pool for Diamond Head Alii.
Diamond Head Surf
Last, but not least, we have Diamond Head Surf coming up on the left. Once again, you have that cool mid century modern typeface here at Diamond Head Surf. It is kind of a retro building as a lot of these Pualei Circle condos are. As we round out our walking tour of Pualei Circle, we have Diamond Head Surf off to the left, there is a mix of 1 and 2 bedroom condos at Diamond Head Surf. Like a lot of other condos here at Pualei Circle, it does have a common area swimming pool. You have a beautiful view of Diamond Head right out the back. They call it Diamond Head Surf because you can literally cross Kapiolani Park to hit the surf at Diamond Head.
Full "Circle"
Ok. That kind of summarizes walking Pualei Circle through the bottom on up at 6 o'clock at the bottom, all the way up like a circle around a clock. We're now back at the base with Diamond Head Surf behind me and the Gregg Apartments where we started. I want to show you something right across the street.
Community Garden
As we cross the street from Pualei Circle (behind me here) what we have is Diamond Head Community Garden, which is a community garden for neighbors in the area that want to grow vegetables, fruits, etc. If you cross through the middle, it takes you to Kapiolani Park and the Waikiki Shell. You can also head down Leahi Ave., hook a right, head across Kapiolani Park and back to the Gold Coast.
Bonus 1: Diamond Head Sands
Now, we're around the corner of Pualei Circle at the intersection of Monsarrat and Kanaina Avenue. This strip mall here at Diamond Head is anchored by Bogarts, which is a great breakfast and coffee place. It's also got a lot of great smoothies.
If you're on the internet or looking to buy a condo in this area, some people are confined to Pualei Circle. But, not many people are aware of Diamond Head Sands, which is this condo complex on the backside of Pualei Circle offf Kanaina. These are studios and 1 bedrooms. They are quite spacious, because some of these 1 bedroom condos at Diamond Head Sands can be north of 600 square feet.
As we start to walk by, you'll notice the building is propped up and elevated, which provides for a lot of covered parking (which not many of the buildings in Pualei Circle have). What's unique about Diamond Head Sands was it was built in 1975, so it's a little bit "newer" building. Most of Pualei Circle was built between 1959 and 1966. So, one of the things that is unique about Diamond Head Sands is they do have enclosed interior walkways between the condos. Whereas, most of Pualei Circle is open.
Off to the left there you do have the backside of Diamond Head Circle, which is a high end residential neighborhood with generous sized lots. As we walk by and round up Diamond Head Sands, not all of the units do have lanais, but some do. Some on the upper floors can have great views out the back.
When you go past Diamond Head Sands, you walk by a home on Kanaina that sold for $2.5 million in October, 2023. Some of these other single family homes have come up over the years. Once again, you have views of Diamond Head out the back.
Here we have a back entrance to several of the buildings in Pualei Circle. Not many people are aware of it, but the Ilima Apartments and Diamond Head Manor have entrances on Kanaina Ave as well. Now that we've covered Diamond Head Sands and the backside of Pualei Circle, stay with me and we're going to hook around the corner to show you one last property.
Bonus 2: Diamond Head Hillside
Here we are now at Diamond Head Hillside, which is going to be the final building. It's right off Monsarrat Ave., so it is a bit of a busy street. Kitty corner across the street you've got Coffee Bean and Tea Leaf. Across the street, you've got Diamond Head Grill. Then, you've got an Aloha Gas Station across the street as well. Now, as we walk around the corner at Diamond Head Hillside, Diamond Head Hillside is primarily made up of 2 bedroom, 1 bathroom units. However, there is a 1 bedroom, 1 bathroom product.
What we didn't cover much walking around Pualei Circle is similar to Pualei Circle, Diamond Head Hillside has community laundry. There are many (if any) units that have washer/dryers in the units. There's open parking here on the backside of the building. So, it's uncovered parking. Diamond Head Hillside is a 6 story building, which is significantly taller than the condos at Pualei Circle and Diamond Head Sands, which are typically about 3 stories. We have the Gold Coast in the distance and we're not surprised why they named this building Diamond Head Hillside. You have incredible views of Diamond Head right out the back.
I hope you enjoyed my tour of condos at Pualei Circle and the bonus features of Diamond Head Sands and Diamond Head Hillside here at the very end. If you need any help with condos in the Diamond Head area or anywhere around Oahu for that matter, feel free to reach out and give me a shout. Mahalo!
Aloha! This is David Buck with Harcourts Island Real Estate and today we're going to cover the local market update for homes and condos on Oahu for June of 2024.
Local Market Update for Homes
First off, Moanalua-Salt Lake saw the largest increase in home sales, which were up 100%, going from 2 in June of 2023 to 4 sales this past month.
Next up, Waialae-Kahala saw the largest increase in median sales price, going from $2,205,000 to $3,425,000, which was a 55% increase year over year. So, once again, Waialae - Kahala saw the largest increase in median sales price year over year for single family homes on Oahu.
Local Market Update for Condos
The Windward Coast saw the largest increase in condo sales, which was up 100% or basically doubling from 1 to 2 sales. It was 1 of only 5 neighborhoods that saw an increase in sales. Now, keep in mind of the 21 major neighborhoods that the Honolulu Board of Realtors reports on, only 5 of those neighborhoods saw an increase in condo sales. As we reported on earlier this month, there was a 24% decrease in condo sales on Oahu. Hence, there were only 5 neighborhoods that were up.
Well, Deja Vu - we're still on the Windward Coast In addition, the Windward Coast saw the largest gain in median condo price, going from $100,000 to $295,000, which was a 195% increase.
As we talk about every month, every neighborhood is different for homes and condos. So, if you have something specific to you, feel free to reach out and give us a shout @ 808-371-3509. Mahalo!
Aloha, this is David Buck with Harcourts Island Real Estate and I'm going to give you a quick tour of my listing here at Colonnade on the Greens here in Aiea, which is technically in the neighborhood of Pearlridge. You'll see this sits in the hillside above Pearlridge. What you'll see here is the swimming pool.
Colonnade on the Greens Swimming Pool
One of the perks about living here is you've got a sauna, tennis courts, BBQ area, swimming pool and fitness center. This is unit 1105 in Building 5, which is one off the more desirable units here. This is a 2 bedroom, 2 bathroom with 2 parking. The tenant just recently moved out, which his why I'm just getting around to doing this video. I just wanted to give you a feel of these units.
Colonnade on the Greens Lanai and Views
Check out some of the grounds here on site. Like I saiid, you've got several towers here and this is building 5. Look at how far back we're set from H-1 Freeway, but you do have great access to H-1 and out the back you've got Pearl Harbor. You can see some of the ships there. Off to the left is Aloha Stadium and then Red Hill and Moanalua to the further left there. As we pan back around, this is Pearl Golf Course here that wraps around the property.
This is a nice spacious lanai and this is east facing. So, you're not going to get the afternoon sun. You do have ocean and Pearl Harbor views.
Main Living Area
We're going to walk back into the main living area here. This was a 1976 build and it was remodeled in 2005. They have an upgraded kitchen, upgraded appliances and then you have a dining area off to the side. You then have a full bath off the hallway, which could be used for guests. As you come down the hall, you've got the laundry setup on the right.
2nd Bedroom
We'll hit the 2nd bedroom first. If you were to have your bed here, you'd look to the right and then have your view out towards Aiea and Pearl City. Coming back in, you have a full closet.
Primary Suite
We then go into the primary suite. These are jalousie windows (on both sides) and you do get cross ventilation here. They do allow for window AC units. There's one here and in the other room as well. Then, you have dual closets. In the 2nd full bathroom, you have corian countertops. Now, let's walk back out to the lanai.
Great Value for Military
These are a pretty good value, especially for military as you saw the proximity to Pearl Harbor. Off to the left, you have Hickam Air Force Base. Then, as you look further to the left, you have Tripler Hospital right around the corner. So, you have 3 military installations nearby here (actually a 4th if you include Camp Smith). Looking back towards Pearl Harbor, that's the Ford Island Bridge. It's hard to see, but that's the Honolulu Rail between H-1 and Pearl Harbor.
Summary
Once again, this is called Colonnade on the Greens and you could clearly see why they call it Colonnade on the Greens with this golf course view out the back. If you're interested in learning more about Colonnade on the Greens in Aiea, feel free to reach out and give me a shout. We also sell condos and single family homes in the area.
What's a little bit complicated about this area is from an MLS standpoint, this falls under Pearlridge from a neighborhood standpoint. Then, some people would think that since you're in Pearlridge, you'd be in Pearl City from a city standpoint. But, we're actually in the city of Aiea. So, Colonnade on the Greens condos in Pearlridge are actually going to fall under the city of Aiea on Oahu. Feel free to reach out if you have any questions. I can be reached out 808-371-3509. Mahalo!
Do you think right now is a good time to buy a condo on Oahu? This is David Buck with Harcourts Island Real Estate, and today we are going to talk about the market stats for June of 2024. First off, we are going to dive into single-family homes, and stick around towards the later we are going to dive into the later are going to dive into the dynamic part of our market which is actually the condo market.
Single Family Home Stats
So, first with the single-family homes, we saw the median sales price up 6.7% as that was going from $1,050,000 in June of 2023 to $1,120,000 this past month. Meanwhile, transactions as far as sales go were up 4% year-over-year and that was going from 248 sales a year ago to just 258 sales. So, that's 10 more sales 4% increase. Meanwhile, the median days on market were down 11.8% and that was going form 17 days to 15 days, so stay tuned and we’re going to dive into the condo stats.
Condo Stats
Well, we started this off asking "is now a good time to buy a condo on Oahu"? On the initial glance, you might not think... well, prices are actually up so the first stat we’re going to talk about is median sales price, and there we saw an increase year over year of 3.9%. A year ago, that median sales price was $510,000. This past month it was at $530,000. Now, from a buyer's stand point, that might seem like now is not a good time to buy with rates and all this stuff. I’m going to share with you a few reasons why now might be a good time to buy a condo on Oahu. The second stat we’re going to cover is sales volume. The number of condo sales this past month were down 24.5%, a year ago there was 470 condo sales on Oahu, and this past month there were only 355, so thats a lot less deals taking place, so if you’re a buyer, now might be a good time because of that. Meanwhile median days on market have increased, they’ve gone from 18 days on market a year ago to 26 days on market this past month.
Now there’s a few other factors I want to talk about here, and why it’s been challenging in the condo market. We’ve talked about these on a few of my videos and one is because insurance is becoming more and more of an issue due there’s a number of condo buildings in town that were underinsured. Some were going through some growing pains within older buildings with plumbing and infrastructure. Third, we've covered a while back which was an ordinance 19-4 regarding upgrading fire protection or fire life and safety evaluation for condominiums. So with all of those factors, and there is one more factor I’m going to share is that just in the news this past week, it talked about how the Yen was at the lowest it’s been against the US dollar since 1986, so we’re seeing in our marketplace right now is a lot less international buyers from Japan, we’re actually seeing a lot more Japanese sellers of condos on Oahu. So I think that trifecta with sales volume being down, days on market taking longer and then less competition from international buyers. I think all those factors play into why now might be a good time to be a condo buyer on Oahu. Because if we fast forwards a year or two for now, I can’t predict the future, although I’ve predicted the future on a few other buildings that were down on Oahu in the past, other buildings that were down on Oahu because of financing issues, such as the Marco Polo, and Ilikai, and how they’ve rebounded, once again taking take this witha a grain of salt, I cant predict the future, but if you look back a year or two from now, I think right now might not be a bad time to buy a condo on Oahu. That’s just my two-sense, and thanks for tuning in. This is David Buck with Harcourts Island Real Estate. If theres anything we can help with Real Estate here on Oahu, homes, condos, land we got some good land offerings coming up on the North Shore, feel free to reach out. GIve us a shout, I can be reached at (808)371-3509. Mahalo.
Aloha, this is David Buck with Harcourts Island Real Estate, and I am here to give you a quick tour of my listing here at Gardens at Launani Valley. This is a ground-floor unit, D102, and I am going to flip the camera around here in a second and we’ll take a look. Here we are at D102.
Main Living Area
This is a ground floor as I mentioned, It’s got a bit of an updated kitchen here, A little wine or drink refer here underneath the countertop. A stainless steel oven in addition to the 833 square feet interior, you’ve got a 58 square foot lanai or balcony that looks out the back across Launani Valley here. And as we head back in, a tenant just moved out so just doing a little walk thought here this about half a million bucks by the way, we do have it under contract.
Primary Suite
Whats nice about the primary suite, it does have this view of the Valley on the back, as well as a door to get out to the lanai that we just came from. And coming through here you have two closets, either side. And then you have a nice updated bathroom here, with easy to walk in shower.
2nd Bathroom and Bedroom
And then we’re going to come back around, to the hallway/guest bathroom. Similar style decor and finishes, sink, then we got full-load front load washer drier full size, then you get a nice view out the back here. This does include two parking spot, and if you go out to the right there is a common area/ swimming pool. Back to the house, you get built-in closet space and this is what you get here at Gardens at Launani Valley.
Location
What’s great about this location, is that it’s near Wheeler Army Airfeild, its near Schofield Barracks two military installations on Oahu, and it is also VA eligible. As far as school districts, this falls under Wheeler for both elementary and middle school, and then the high school in this area is Leilehua in Wahiawa, so Go Mules! If you have any questions about this property or any properties in Mililani for that matter, this is a great location, for Military in central Oahu with close proximity to Schofield Barracks and Wheeler Airfields. Mahalo!
Aloha! This is David Buck with Harcourts Island Real Estate and today we're going to talk about the 99 things that Realtors do when working with Sellers. If you didn't catch our previous video about the 71 things Realtors do when working with Buyers, feel free to check that out. This all started with an article I was reading in Realtor Magazine and we covered the 71 things Realtors do with Buyers. Now, we're going to leave the office shortly, head on the road and we're going to cover the 99 things Realtors do with Sellers. Now, keep in mind as we go through this list, this is a general list based upon the National Association of Realtors and that article in Realtor Magazine. What we do in Hawaii is significantly more and you're going to want to stick around to the very end to check it out.
Day 1: Pre-Listing
1. Confirm prospective seller’s needs and make an appointment for a listing presentation
2.Research comparable properties
3. Research sales activity from MLS and public records data
4. Research average days on market for property of this type, price range, and location
5. Download and review property tax roll/ assessor info
6. Prepare preliminary comparative market analysis to establish fair market value
7. Obtain a copy of subdivision plat/complex layout
8. Research property’s ownership, deed type, and public record information for lot size and dimensions
9. Research hand verify legal description
10. Research property’s land use coding, zoning, and deed restrictions
11. Verify legal names of owner(s) in county’s public property records
12. Prepare a listing presentation package with above materials
13. Perform exterior curb appeal assessment of subject property
14. Compile a formal file on property
15. Review Obsolete Property Rehabilitation Act (OPRA) report from township for all permitted records
That's a wrap on Day 1, where we covered the Pre-Listing and items 1-15 out of 99 on working with sellers. Tomorrow, we're going to cover Listing Management. If you enjoyed today's segment and recognize some of the areas we were filming at, feel free to drop the number along with the location in the comments below.
Once again, tomorrow we're going to dive into Listing Management with item #16.
Day 2: Listing Management
16. Give overview of market conditions and projections
17. Tour property
18. Present preliminary CMA, including comparable properties, sold properties, and current and expired listings
19. Discuss marketing goals with seller
20.Explain market power and benefits of MLS marketplaces
21. Explain power of web marketing, IDX and realtor.com
22, Offer pricing strategy with updates to CMAQ based on tour of home, upgrades, professional judgment, and current market conditions
23. Explain your role in screening for qualified buyers and projecting seller from curiosity seekers
24. Explain transaction and agency brokerage relationship
25. Review and explain all clauses in listing contract and addendum and obtain seller’s signature once property is under listing agreement
26. Review current title information
27. Gather square footage and measure overfall and heated square footage
28. Note all unrecorded property liens, agreements, or easements
29. Discuss showing times with seller and prepare showing instructions for buyer’s agents
30. Review current appraisal if available
31. Verify homeowner association fees – mandatory or optional
32. Order copy of homeowner association bylaws
33. Research electricity supplier’s name and phone number
34. Have utility companies provide average utility usage from last 12 months
35. Research and verify city sewer/septic tank system/well status
36. Research/verify natural gas availability, supplier’s name and phone number
37. Verify security system and current terms of service
38. Verify if seller has transferable termite bond
39. Ascertain need for lead-based paint disclosure
40. Detail property amenities and assess market impact
41. Prepare a detailed list of property’s inclusions and conveyances
42. Compile list of completed repairs and maintenance items
43. Explain benefits of homeowner warranty
44. Assist sellers with completion and submission of homeowner warranty application
45. Have extra keys made for lockbox
46. Arrange for installation of yard sign
47.Provide suggestions on curb appeal and decor to improve salability
48. Prepare profile sheets for MLSs and enter property data into local MLS databases
49. Add property to company’s active listings list
50. Take additional photos for upload into MLS and use in marketing
51. Create print and internet marketing with seller’s input
52. Coordinate showing with owners, tenants, and other agents
53. Install and program electronic lockbox if authorized
54. Upload listing to company and agent internet site, if applicable
55. Mail out “just listed” notice to neighborhood residents
56. Advise network referral program
57. Send feedback emails to buyer’s agents after showings
58. Review weekly market study
59. Discuss showing feedback with sellers
60. Promptly enter price changes in MLS
Well, that's a wrap on Day 2 of working with Sellers and we've covered items 16-60 under Listing Management. So, you can kind of get an idea of what goes in working with Sellers here on Oahu and what Realtors do nationwide. Once again, that's 16-60 out of a list of 99 items in what Realtors do when working with Sellers. I hope you enjoyed some of the scenery we saw ini the background today. if you recognized some of the locations here on Oahu, feel free to drop the location along with the item number in the comments below. Tomorrow, we're going to dive into 61 out of 99. Mahalo.
Day 3: Offers
61. Receive and review all offer-to-purchase contracts
62. Explain merits and weaknesses of offers, being sure to factor out unconscious bias
63. Contact buyer’s agents to review buyer’s qualifications and discuss offer
64. Deliver seller’s disclosure upon request
65. Evaluate offer(s) and prepare net sheet for owner for comparison purposes
66. Confirm buyer is pre-qualified by calling loan officer
67. Negotiate all offers per seller’s direction on seller’s behalf, and set time limit for loan approval and closing
68. Prepare counteroffers and amendments; convey to buyer’s agent
69. Email or send contract and addendums to closing agent
70. When offer-to-purchase contract is accepted, deliver to buyer’s agent
Alrighty, that's a wrap on Day 3 of the 99 Thing Realtors Do when working with Sellers. Today, we covered items 61-70 of offers. Tomorrow, we're going to jump into item #71.
Day 4: Contracts
71. Record and promptly deposit buyer’s earnest money in escrow account
72. Disseminate under-contract showing restrictions as seller requests
73. Deliver copies of fully signed offer-to-purchase contract to seller and lender
74. Advise seller of additional offers submitted between contract and closing
75. Change MLS status to sale pending
76. Coordinate with lender on discount points being locked in with dates
77. Confirm verifications of deposit and buyer’s employment have been returned
78. Follow loan processing through to the underwriter
79.Contact lender weekly to ensure processing is on track
80. Relay final approval of buyer’s loan application to seller
Now, that's a wrap on Day 4, where we covered items 71-80 of the 99 Things that Realtors Do for Sellers. I hope you liked some of the scenery today that we saw out and about on the road. So, if you happened to notice a location that we were at today, feel free to drop that location along with the item number we covered in the comments below. Stay tuned as we jump into item #81 tomorrow as we have a few more days to wrap up this list of the 99 Things that Realtors Do when working with Sellers.
Day 5: Home and Other Inspections
81. Coordinate with seller for buyer’s professional home inspection and review home inspector’s report
82. Ensure seller’s compliance with home inspection clause requirements
83. Help seller identify contractors to perform any required repairs
84. Oversee required repairs, if needed
85. Handle septic system and well flow reports and assess any possible impact on sale
86. Verify termite inspection ordered
Alright, now that's a wrap on Day 5 of Home and Other Inspections where we covered items 81-86. Stay tuned tomorrow as we dive into item #87 on our list of 99 items of what Realtors Do when Working with Sellers.
Day 6: (Part 1): Appraisal
Aloha! We're now on Day 6 and rather than dragging this out over 2 more days (because there are 2 more sections) we're going to just wrap this up today because there's only a few items left. We're starting with item #87 and then we'll be rounding up at #99.
87. Work with seller and lender to schedule appraisal
88. Provide appraiser any comparable sales used in market pricing
89. Assist seller in questioning appraisal report if it falls below the contract price
Day 6 (Part 2): Processing for Closing
90. Ensure contract is signed by all parties
91. Coordinate closing date and time with buyer’s agent and lender
92. Assist in solving title problems or obtaining death certificates
93. Work with buyer’s agent in scheduling buyer’s final walk-through prior to closing
94. Double-check all tax, homeowners association dues, utility, and applicable prorations
95. Request final closing figures from closing agent
96. Confirm buyer and buyer’s agent have received title insurance commitment
97. Provide homeowner warranty for availability at closing
98. Review documents with closing agent
99. Change status to sold MLS, entering sale date, price, selling broker, and any other required information.
Ok, that's a wrap on the 99 Things that we as Realtors Do when working with Sellers. Once again, this list is out of Realtor Magazine, where they had 99 items nationwide. Some of these pertain to Hawaii. The majority of them do. However, some of them may/may not apply, depending on the transaction.
Once again, this is a national list. What we do as Realtors here in Hawaii is actually significantly more than this. We brought up some of the talking points in the Buyers video we did awhile back, which we linked above. Here in Hawaii, we have leasehold property and making sure you provide a mandatory leasehold disclosure to any particular Buyer buying one of those properties. We have Hawaiian Homelands. We've got CPR's. We've got lava zones, VOG, coqui frogs, etc. The list goes on and on.. There's different vacation rental bills here on Oahu. A lot of these have to do with disclosures. As we represent Sellers, we want our Sellers to be able to sleep good at night when the deal is over so the Buyer isn't coming back for a lawsuit after the fact. So, we all want to apply the Code of Ethics to our real estate transactions here and representing our Sellers well and representing our Buyers (in that circumstance).
I appreciate you tuning in and if you have any questions specific about real estate here ini Hawaii, feel free to reach out and give us a shout. I can be reached at 808-371-3509. Mahalo!
Aloha! This is David Buck and today we're going to take you on a walking tour of the Gold Coast. It's something I've done countless times with my clients here at the very end of Kalakaua Ave. at Diamond Head. What we have behind me is Sans Souci Beach Park and the Natatorium is directly behind me. We're going to start on Kalakaua and make our way down to Coconut Ave.
Diamond Head's Gold Coast
In this particular video, we're going to be covering the Gold Coast to give you a perspective of these oceanfront buildings along the ocean at Diamond Head. Then, stay tuned as we'll do another segment on a later day and I'll put that link in the comments below regarding the condos across Kapiolani Park at Pualei Circle.
Kaimana Hotel
The first building we're passing is The Kaimana Beach Hotel, which was once known as the New Otani Hotel. It's now owned by BlackSand Capital. They did an awesome job with the remodel and there's an awesome restaurant on the inside called Hau Tree.
Sans Souci
Out the back, we've got Sans Souci condos. I did a little segment on that a few months back. What's exciting about that property is although they are leasehold condos, the land lease got extended for another 65 years. That's one of the hottest news items that's happened on the Gold Coast. At Sans Souci out the back, you have awesome ocean and Waikiki views from there.
Lotus Hotel
On the right here, we have The Lotus Hotel, which is owned by MacNaughton Hospitality. Upstairs to the right used to be Diamond Head Grill years ago. Then, TBD by Vikram Garg is an awesome restaurant at the Lotus Hotel. As we pass the Lotus, that's the restaurant space upstairs. This is an awesome boutique hotel here on the Gold Coast.
Colony Surf and Colony Beach
Out the back, you've got the Colony Surf, which is going to be the tallest building on the Gold Coast. Straight back there iis a mini little building called Colony Beach, where it's just one unit per floor. That there is the Colony Beach.
Then, the ramp up here takes you to the Colony Surf, where you've got a world class famous restaurant there in Michel's. There's basically 9 units per floor. They're either roughly 500 sq. ft. studios or 900 - 1,000 sq. ft. one bedrooms (a lot of which have been converted to studios). There's a 30 day min. on the rentals there. There's no AC allowed, but pets are allowed. That's a great building there at the Colony Surf.
Outrigger Canoe Club
Coming up here, you have the Outrigger Canoe Club. There's a little bit of construction going on right now on the parking structure. Believe it or not, in this day and age, the weight of EV or electric vehicles and being on the ocean, there's been a lot of spalling work. So, there's some contractors in there opening up the flooring and the concrete, patching up the rebar and preparing it for another 50 + years.
Outrigger Canoe Club, here on the right is a private club here on the Gold Coast. It's one of two. It was designed by Vladimir Ossipoff. There's really cool architecture.
The Elks Club
As we come up here on the right, we're going to be hitting the Elks Club, which is also a private club here on the Gold Coast. The Elks Club, trust me from experience, they've got some of the best real estate across the country. I've been to the one recently in Aspen, CO and they always seem to have the prime real estate.
The big difference is they have an open parking lot and the Outrigger next door has got a lot of parking. I've got some friends that just did a downhill foil-board run and they're loading up their trucks right now.
Castle Surf
As we come out of the Elks Club parking lot, we're coming upon Castle Surf. These are one bedroom condos on the interior of the building and then book-ended by either end, you've got 2 bedroom, 2 bathrooms. One is on the street side here and then again on the ocean side. We sold the Penthouse there last year.
Across the street we have the fountain at Kapiolani Park and a beautiful shot of Diamond Head there.
Tropic Seas
As we continue down, the next building we come across is Tropic Seas, which is also a co-op. There's two buildings. Not many people know, but there's one directly here on the street side and there's a taller one out the back. Tropic Seas is similar to the Diamond Head Ambassador in that it does not have a parking stall for every unit that is there.
Diamond Head Beach Hotel
Next, we have the Diamond Head Beach Hotel, which is the only legal short term rental condo on the Gold Coast. However, these units are leasehold and that land lease is coming up for expiration in the year 2032. This will give you a perspective of Diamond Head Beach Hotel and this shot I just showed you is how it kind of tapers off at the top. The bottom floors are larger than the upper floors.
Diamond Head Ambassador
Now, we've got the Diamond Head Ambassador. It's a great building. We used to own a unit in here. There's not enough parking for all of the units here. You have a mix of studios, one and two bedrooms. Then, we come up to this nice fountain to the right. When the building was built in the 50's it was in the territory of Hawaii, before condo law (in 1961). That's why you see a lot of co-ops down here on the Gold Coast. The original name of the building was the Diamond Head Ambassador Hotel. So, the first five floors is where it originally stopped. When you see the penthouse, the penthouses were kind of like an afterthought that were added on later.
This is a great oceanfront building and one of just several on the strip (we're going to have 3 in a row) here that have an oceanfront swimming pool. So, the Ambassador has a swimming pool.
Diamond Head Apartments
Then, we come up to Diamond Head Apartments. That's their generator, in case the power goes out. This is my favorite building on the Gold Coast. It was designed by Vladimir Ossipoff, which is arguably like the Frank Lloyd Wright of Hawaii. They've got two levels of parking, down below and up the ramp here.
My grandma actually owned a penthouse here, so I've got fond memories of visiting this building when we were kids. It's a fantastic building here on the Gold Coast. It's 12 stories high and famous for its architecture. The building itself just did some work on the spalling and painting. So, after that was complete, they replanted all of this vegetation here. From what you can see, it's got some natural Hawaiian flora and fauna. Then, we have another perspective of the ramp going up here. As a reminder, this one does have a swimming pool as well. Fronting these buildings is a sea wall, so owners can come in off the seawall.
Coral Strand
Then, we've got the Coral Strand, also designed by Vladimir Ossipoff and also a co-op. It's a similar set up here where youu have a ramp that goes up for parking and another ramp below. The lobby is directly through here and I love the patriotism with some of these buildings with American Flags. There's a lot of love here on the Gold Coast. Here's another perspective on the backside of Coral Strand. A lot of these are going to be the '05 stacks that face the park. What's nice about those building is you have views of Kapiolani Park and the ocean in front.
2987 Kalakaua
We're walking past some hau bush here and we're coming up to 2987 Kalakaua, which is formerly known as the Dad Center Apartments. There was a broker's open today and I got invited in. This is a view from the unit that was for sale (#404).
View from 2987 Kalakaua #404
Once again, we're back down at the street at 2987 Kalakaua, which is the Dad Center Apartments.
The Tahitienne
Next up on the row, we have The Tahitienne at 2999 Kalakaua Ave. This one has an open parking lot, so none of the parking stalls are covered. That's one of the downsides. This is a direct oceanfront building, which obviously they all are (on this side of the road). The views out the back are awesome. They do have within their co-op rules, there's a rule where you can't rent it out for the first year of ownership. So, if someone is an investor, they just want to factor that in when investing at the Tahitienne.
3003 Kalakaua
3003 Kalakaua - these are probably some of the largest condominiums on the Gold Coast. There are two units per floor, units A & B. They're spacious and like 3 bedroom, 2 bathrooms and close to 2,000 sq. ft. What's unique about this building is it's one of the rare buildings on the Gold Coast that actually has guest parking, which is right up this ramp. So, they have guest parking up this ramp here and that's the entrance there. There's parking down bellow as well. So, that's 3003 Kallakaua.
Oceanside Manor
Next on the right coming up is going to be Oceanside Manor. Similar to 3003 Kalakaua, this one also has two units per floor. Some of the owners have actually combined them. They're going to be in either an '01 or '02 stack. There's also an open parking lot, which is similar to the Tahitienne that we just walked by. It's very special with only two units per floor and they're two bedrooms, two bathrooms.
3019 Kalakaua
The next one we come up to is another exclusive one. It's 3019 Kalakaua Ave. This one is going to be just one unit per floor and these are spacious units. They've typically been trading around $4 million per floor. There's a combined unit that recently sold for $7 million (units 9 & 10).
View from 3019 Kalakaua #11
It was a real treat. I got invited up to this 11th floor unit at 3019 Kalakaua and this gives you a perspective of these incredible 180 panoramic views of the Pacific Ocean. To your right, you're going to see 3003 Kalakaua and down the coast towards Waikiki, there's a little spit of sand there. That's on this side of The Elks Club at Castle Surf Apartments that we covered earlier. Once again, this is a great perspective of Tonggs, which is probably one of the most consistent waves here on the south shore of Oahu.
Historic Gingerbread Houses
Next, we get into these historic homes. These "gingerbread houses" and what we like to call like a "6 pack" of them. You'll see there's three of them on the left and three of them on the right. One of the perks of these being on the historic registry is they have really low property taxes. They're a little smaller on the inside. They're like two bedrooms. Some of the older homes in the Diamond Head part of Honolulu are going to be in this area. You have several that are on the historic registry. This will give you another perspective here of one of the historic placards there on this one.
Beach Right of Way
Now, we're going to give you a perspective of walking down the beach access off Kalakaua Ave. You've got the gingerbread houses on the right. Then on the left, you've got another single family home. This is the beach access that spans several blocks. So, if you were to turn the camera around behind me, it stretches for owners in the neighborhood to get down to the beach access here.
One of the great things about Tonggs is the waves are fairly consistent throughout the year. Almost every day of the year you can surf out there. It's not always going to be the best wave. Out the back there, you've got Seabreeze, which is also a special building, which we're going to come to shortly. Once again, we're panning out to a view of Tonggs and it's one of the most consistent waves on Oahu. Here's the seawall looking down towards Waikiki and the crystal clear blue water you have here. We're starting to see more and more foil boards out at Tonggs. It's a growing trend on Oahu and across the world for that matter, is foil-board surfing.
As we walk back in towards Kalakaua Ave., this will give yo ua perspective of this right of way. On the right, obviously you can't build a home this close to the setback these days, but that house there on the right sold during COVID for about $6 million bucks. I'm sure it would go for a lot more today. Then, directly across the street you can kind of make out that other right of way, with another gingerbread house and Diamond Head out the back.
Oceanfront Homes on the Gold Coast
As we continue on towards the very end of Kalakaua Ave., we'll see on the right a few more single family homes, which are very rare. Tonggs, the surf break was actually named after the Tongg family because their property was there. There are some existing single family homes here. This one here on the right was built by Homeworks Construction and I think it last traded a few years ago for about $10 million bucks. Then, you've got another single family home here on the right. Then, another gingerbread single family home across the street and Diamond Head out the back.
You've got another historic single family home on the right. Then, you have a couple more modern ones coming up as well. One of these on the right last traded about 10 years or so ago for about $7 million bucks. That would go for significantly more today.
3056 Kalakaua
Then, you've got 3056 Kalakaua Ave. That is the only non-waterfront condo on the Gold Coast, with also two units per floor, that are either east or west that they call them.
Seabreeze
Then, we've got the Seabreeze which is one unit per floor. It's very impressive and the last one of those traded for about $4 million bucks for 1,200-1,300 sq. ft. So, about $3,000 a foot. Then, you've got Diamond Head out the back.
Kainalu
The final one here is the only one on the Gold Coast with a Coconut Ave. address, which is the Kainalu. Then Coconut Ave. curves right back up towards Diamond Head.
Summary
That rounds up my tour of the Gold Coast here at Diamond Head. You can see Diamond Head out the back here. We're at the very end of Kalakaua Ave. here at the intersection of Kalakaua and Coconut, where you have both the Seabreeze and Kainallu and directly behind me once again you have 3056 Kalakaua, which is the only non-waterfront building here on the Gold Coast.
If you're looking to buy a condo or co-op here on the Gold Coast, or if you're just kind of curious of what's going on in the area, we sell condos here and all over Oahu. Feel free to reach out and give us a shout @ 808-371-3509. Mahalo!
Aloha! I'm going to give you a quick walk through of my listing here at 204 Poipu Drive in Koko Kai. We put this one in escrow pretty quick. It's a very special property. I'm going to give you a quick walk around and then show you a little bit of the professional video.
Entry
As you enter through a private gate, immediately you're taken away from the ocean views you can see right through the home. This is an over 19,000 sq. ft. lot that is meticulously manicured and you've got beautiful grounds throughout. It's a single level home that's 4 bedrooms, 3 bathrooms. Then, you've got a casita or separate cottage, which is a 1 bedroom, 1 bathroom.
Exterior Tour
I'll give you a tour around the property. There is a lot of foliage. There's some incredible landscaping as well as some great fruit trees. You have 3 bins for green waste. Then, you've got a mango tree and plumerias. There's a mix of central and split air conditioning in the home. The plumerias are incredible. They're in full bloom. You also have banana trees, solar PV up on the roof as well as solar hot water. There's also a standing seam metal roof that got put on in the last year or two. There's also the PV equipment on the side of the home and you get aromas off the gardenias.
When you come around to the front of the property (ocean side), what you're paying for is the view. Check out the view of Diamond Head on the horizon. You're going to get incredible sunset views from this location. You can see down towards "Pillars", which is a surf break here in Hawaii Kai. China Walls is going to be off to the left. Then, this gives you a great perspective of Maunalua Bay and the main part of Hawaii Kai.
We have this covered terrace here on the outside. Like I said, we did put this one under contract really quick. We did have a bunch of interest. In addition to the mango and banana trees, there's passion fruit on the property. These are just forever views...There's a beautiful tiled pool.
Since the detached cottage was more of a recent build, it has a shake roof on it. There used to be a shake roof on the main house, which is now standing seam. We're going to come full circle and this gives you a great view of Koko Head out the back. On the backside of that would be Hanauma Bay, which is a world famous snorkeling location. Although we're miid way through the month of June, everything is still looking green up there. We then come back around to the front.
Interior Tour
As you come in through the front door (my clients have recently moved out), this gives you a perspective of a beautiful dining area here off to the right. Once again, you have captivating views out the back of Maunalua Bay. Off to the left, you're going to have 2 bedrooms, 1 bathroom, split air conditioning, a view of outside and once again, captivating views of Hawaii Kai and out towards Diamond Head.
As we come back across the main living area, you have a nice open beam ceiling where you do have central air up above. You've got this nice kitchen with granite countertops, stainless steel appliances, and you've got another full bedroom and bathroom back here . You also have beautiful hardwood floors. You have lots of storage off the kitchen as well as along the side. You've got a spacious garage with solar hot water as I mentioned and storage up above.
Then, we'll give you a view of the primary suite off to the right. In the primary suite you have a ceiling fan, central air conditioning, and another great view of Diamond Head. We then walk through the primary closet and all the storage. In the bathroom, you have a separate tub, shower stall, dual vanity sinks and mirrors.
You're going to love this house in Koko Kai, however it's already been spoken for (very fast). To make a long story short, the buyer that's buying it regrets missing it the last time it was on the market. Their Realtor is happy, they're happy and my sellers are happy.
Cottage Tour
Now, let's give you a quick run through of the cottage. As I mentioned earlier, you have a detached cottage that's off the side. As you come through the sliders, it's got one big open living area with views of outside. Could you imagine of waking up to this view out the back? It's got 2 ceiling fans, a kitchen set up, split air conditioning, a separate bedroom and its own bathroom as well. This is 204 Poipu Drive and definitely a special place.
Aloha! This is David Buck with Harcourts Island Real Estate and I just spent the past 5 days out and about on Oahu talking about the 71 things us as Realtors do when working with Buyers. I had to edit this video a little bit because I started off talking about the 99 things that Realtors do. It turns out, there's A LOT more.
Spring 2024 REALTOR Magazine
This all started off with a magazine that I was reading. As some Realtors do, they don't always read and when I skipped to the end, I saw there were 99 things Realtors do when helping their clients. Well, it turns out he first 71 were Working with Buyers. Then, the listed starts all over again with 1-99 in Working with Sellers. So, on today's video, we're just going to cover the 71 items Realtors do when working with Buyers here on Oahu. We're going to put together later a completely different video ini working with Sellers. Now, keep in mind, this is from the National Association of Realtors.
This is just a general overview of what we do. What we do here in Hawaii is significantly more than just the basic standards. So, keep that in mind when we're going over these 71 items. This is just "scratching the surface" in a sense.
First off, we're going to break these out into 5 days and the first category we're going to talk about when Working with Buyers is Building a Relationship. As we start this journey, we're going to run a fun little game to see if you recognize the neighborhoods that we're shooting the video in. If you happen to recognize a neighborhood, condo complex or what have you, feel free to comment that item number and the location in the comments below. Enjoy!
Day 1 - Building a Relationship
1. Inform the buyer of working relationship options based on state law, the REALTOR Code of Ethics, MLS requirements and the broker's business policies.
2. Learn buyer's wants and non-negotiable needs.
3. Understand buyer's budget and financial concerns.
4. Provide quality lender resources.
5. Match buyer's needs with available property.
6. Explain how compensation is paid, who pays it and what buyer's options are.
7. Explain federal and state fair housing laws.
8. After ensuring Buyer understands what is done for them, how it is done, and the benefit to them, obtain signatures on the buyer representation agreement.
9. Explain what to look for in applicable property disclosures.
10. Reassure buyer that personal information will remain confidential.
11. Inform buyer that you will always disclose all known material facts.
12. In accordance with state law, provide information on checking the sex-offender registry and crime statistics for the neighborhood.
That wrapped up items 1-12 today of what Realtors to for their clients. You may have noticed some of the cool footage in the backdrop today. If you recognize any of those neighborhoods, feel free to drop them in the comments below. We're going to call it a wrap today because just like buying a home doesn't happen in 1 day, we're going to break this up over several days to cover the 71 items that Realtors do for their clients. Today was 1-12 and tomorrow we're going to start at item #13.
Day 2 - Preparing the Buyer
Today, we're going to cover our next segment, which is Preparing the Buyer.
13. Explain timeline for house hunting, mortgage approval and closing.
14. Explain local market and how it impacts the buyer.
15. Show statistics on what percentage of list price sellers in the area are currently receiving.
16. Inform buyer of what home features are popular.
17. Identify current average days on market
18. Share dangers of using price-per-square-foot to determine home values.
19. Explain the concept of absorption rate and how it impacts the buying process
20. Indicate current listing month of market inventory
21. Sharer estimated out-of-pocket costs to complete the transaction.
22. Verify buyer's ability to purchase by ensuring they're prequalified
23. Help buyer account for the complete costs of homeownership
24. Prepare lender for listing agent calls.
25. Help buyer select for viewing only those homes that fit their needs.
26. Review sample sales contract so buyer is prepared when it comes time to make an offer.
Today, we wrapped up the section on Preparing the Buyer. Those were items 13-26 on what Realtors do to help their clients. Tomorrow, we're going to start with item #27 in Showing Properties. What you probably saw today, were some areas if you're familiar with Oahu that you may have recognized. It may kind of give you a feel of what Realtors do on a daily basis. We can be traveling all over the island in a given day. If you recognize any of those locations that you saw today, feel free to drop the item number along with the location in the comments section below. Stay tuned as we jump into item #27 tomorrow.
Day 3 - Showing Properties
Here we are on Day 3 of what Realtors do for their clients. We're going to be starting off with a segment called Showing Properties with number 27.
27. Schedule showings and provide access to all MLS listed properties.
28. Collaborate with buyer on properties they may have learned about through their sphere of contacts.
29. Preview properties prior to showing if needed.
30. Network with other agents to source properties not yet in MLS.
31. Set up automated email alert system through MLS that notifies buyer of potential properties.
32. Arrange tour of targeted market areas.
33. Provide resources containing neighborhood information on municipal services, schools and other local services.
34. Check applicable zoning and building restrictions.
35. Help buyer decipher public property and tax information.
36. Collect and share pertinent data on values, taxes, utility costs and other carrying costs.
37. Help buyer identify top choices.
That's a wrap on Day 3 on working with Buyers and we covered items 27-37 on Showing Properties. As we wrap up the day, a Realtor's day is never over. I got on the road early this morning and I just got back to the office. I covered a lot of the island and the sun has set behind me. Tomorrow, we're going to dive into items number 38 with Negotiating Offers.
Day 4 - Negotiating Offers
Here we are on Day 4, Negotiating Offers. We'll start off with number 38.
38. Prepare buyer to have the most attractive offer in the current marketplace.
39. Prepare a comparative market analysis in advance of making an offer.
40. Explain common contract contingencies, and include approved protective clauses in the purchase offer.
41. Ensure buyer receives and understands all state and federally required disclosure forms.
42. Prioritize contract negotiation goals with the buyer.
43. Prepare buyer for multiple offer situation.
44. Write offer that has a reasonable chance of being accepted.
45. When approved by buyer, use strategies such as an escalation clause to maintain a competitive offer.
46. Recommend optional contingencies and explain the pros and cons of using them.
47. Negotiate buyer's offers to arrive at the best price and terms.
Alright, now that was a wrap on Day 4 of Working with Buyers in the subsection of Negotiating Offers. We covered items 38-47, so it really goes to show you in just scratching the surface in what we do as Realtors in helping our clients. Hang in there. Tomorrow we're going to jump into item number 48 as we progress through this list.
Day 5 - Facilitating Close
Aloha! We're now on Day 5 in Working with Buyers and this final segment is called Facilitating Close. Rather than being cooped up in the office, let's head back on the road to get some beautiful scenery. So much has changed in our industry over the last several years. After COVID, we're seeing more and more mobile notaries vs. being in a real estate office or a title company.
48. Provide options for home inspector, title company, appraiser and mortgage lender.
49. Review and discuss home inspection concerns, and negotiate repair requests.
50. Guide buyer on meeting all contract deadlines.
51. Advise buyer to review the settlement statement.
52. Inform buyer of need to transfer utilities to the new residence.
53. Schedule final walk through and accompany buyer.
54. Ensure appraisal has been ordered and notify buyer of date.
55. Assist buyer in reviewing appraisal report.
56. Confirm clear to close with lender.
57. Ensure all parties have all forms and information needed to close the sale.
58. Confirm the closing date and time.
59. Explain flood and and insurance to the buyer.
60. Order any surveys needed.
61. Order title search.
62. Confirm status of loan funding.
63. Check addendums and alterations for agreed terms.
64. Review buyer's closing statement to ensure accuracy.
65. Explain wire fraud risks and remind clients to verify all wiring instructions before transferring funds.
66. Double-check property tax , home owner association dues, utility and applicable prorations if relevant.
67. Request final closing figures from closing agent.
68. Receive and carefully review title insurance commitment with buyer.
69. Advise buyer on re-keying locks or installing smart locks.
70. Review documents with closing agent (attorney).
We're now back in the office to cover the final item, which is:
71. Support buyer in final closing activities.
Wasn't it nice to get outside and outdoors a bit? As we talked about all 5 days, it was a fun little guessing game to see what neighborhood we were in today. Spoiler Alert - it's near our office here. It was good to get outside and that's a recap of the 71 things that Realtors do in helping their clients in Working with Buyers. However, this is just a national list. As far as what we do in Hawaii, that list compounds. You could probably double or triple the length of it. There's so much that we didn't cover today. Some teasers would be Fee Simple vs. Leasehold, Buying on Hawaiian Home Lands or what areas are zoned for legal vacation rentals, etc. That list goes on and on.... school districts, etc.
Contact a Local Expert
If you're looking for a local expert here on Oahu, feel free to reach out and give us a shout @ 808-371-3509. Mahalo!
