HRI Blog

 

 

Oct. 21, 2020

Top Trending Paint Colors for 2021: These Hues Will Make News Next Year

Are you looking for a few new paint colors to put in your home this upcoming year? Do you want more inspiration for ways to liven up your current layout? If so, then take a glance at these latest color trends for popular paint colors.

Exploring these trending tones for 2021 can help you get a year ahead of the curve. It’s a fantastic way for you to reimagine your spaces, impress your guests, and update your home from "late" to "great.”

Not to mention: All these months stuck indoors, you’re probably getting sick of looking at the same old floors and ceilings and walls. A fresh coat of paint might be just what you need to reinvigorate your love for where you live.

To give you some #inspo, we wrangled up some hot upcoming paint colors in the pipeline at Sherwin-Williams, that you can use to liven up your living spaces and bedrooms in the weeks to come.

Continuum

Over the years, neutral colors have gained more and more popularity as a gentle backdrop on which to make your mark with colorful pops of decor.

As a top international Hawaii real estate team, we always recommend neutral tones to our seller clients during the staging process. Neutral paint helps prospective buyers to more easily envision themselves living in the home, rather than be put off by a bold and very personal color choice like a rich purple or bright green.

Sherwin-Wiliams is predicting even more interest in neutral hues in 2021, albeit with a different flair! Their Continuum color palette is a perfect mix of wishful blues, yellows, and grays with a subdued energy. Following a set color palette is a great way to tie many different materials, fixtures and appliances in your room together. 

Use it in your kitchen to blend stainless appliances with the classic outline and materials of your counters and cabinets. Paint it in your living room to breathe a cool and lively vibe into the space.

Sanctuary

Now more than ever, we could all benefit from a healthy helping of inner peace. Being stuck at home throughout a pandemic has made that difficult, with work and rest and school and meals all happening within the same four walls.

The new Sanctuary paint palette tries to capture the calming, peaceful respite that might be missing from your daily life, with a mix of earthy colors inspired by nature. It includes five different shades of brown ranging from dark to light, plus oakmoss green and various grays. 

What may surprise you most is the versatility of this blend. It creates a comfy and welcoming vibe in any room that you paint it.

Use it in a guest room to welcome visitors with a cozy beige wall and matching furniture. Place it in your bathroom with white counters and cabinetry — it blends well with wicker baskets, wood floors, reflected in mirrors, and mingled with most common decor.

With all the stressful events of this past year, wellness is a priority. Paint these homey and earthy tones in your home to craft a peaceful retreat with a calming presence. It’s your great escape from the crazy, modern world.

For Oahu home sellers, these rich and pleasant hues are perfect to welcome potential buyers and make them feel instantly at home. They look great online, as well, which is a big plus for all the virtual home tours being hosted these days!

Tapestry

How about a blend of the modern serenity of neutral colors and the bold personality of 80’s acrylics? If that sounds up your alley, then the Tapestry palette is the perfect combination for you.

Tapestry features dark colors such as Cape Verde and Alexandrite Green, Tricorn Black, and Perfect Periwinkle. These darker hues are smoothly contrasted with more vibrant colors like Jaipur Pink and Enjoyable Yellow.

This is the ideal blend for anyone that's looking to make a statement while maintaining a refined polish. These colors go great with interesting textures, patterns and textiles. Perfect Periwinkle is an ideal pairing with bold yellow material.

If you’re feeling handy, mix these colors together on a self-made feature wall. Use one more prominently than the rest to accent a living room, dining room, bedroom or bathroom.

No matter how you use it, you are bound to make a statement: there's never a dull moment in your household. Tapestry exudes swagger and poise while remaining subtle enough to keep a warm and welcoming vibe inside your home.

Encounter

Perhaps because of the necessity of staying indoors so much of this year, Sherwin-Williams is doubling down on their offering of earthy tones in 2021.

Natural hues of brown and green offer an organic inspiration for peace and comfort. They exude a calmness that can help you escape the world around you. This makes them great colors for bedrooms, bathrooms, and anywhere else that you’d go for some peace and quiet.

Enter the Encounter painting blend, which features ten separate colors that tie together for a hearty helping of well-being and zen. Hues of Rosemary and Reddened Earth harken back to simpler times, to the beauty of nature and of handmade craft. These pair well a decorative clay pot, with your favorite houseplants, or with natural wood finishes.

Encounter is meant to help you capture the simple moments in life. It inspires introspection, to cherish the important experiences and heartfelt conversations that you’ll enjoy in 2021 and for years to come.

Earth Colors Reign Supreme

With all of these different color combinations in play for the year 2021, one thing is abundantly clear: earth tones are likely to be a very hot trend in interior design next year.

As we hope for health for our loved ones, safety in our communities, and a return to open society while the current year winds down, it makes sense that we would go back to basics with colors that connect us to the elements.

It may sound like a stretch, but color truly does inspire. The right palette in your home can help you foster a sense of calm, of community, of family and friendship. If you’re looking to mix things up, these color combinations can help you get in the right frame of mind for comfort and connection. 

While you’re at it, consider the decor and furniture you already have in your house. Let that be your guide for the colors and composition that you select. You may be surprised how the things you already have can take on a new life and personality in a freshly painted environment.

Fight the Homebound Blues With Trendy Hues

Do these trending paint colors inspire you to change up your living spaces? We hope, at least, that they help you think about some simple improvements you can make to your home and your lifestyle.

If you are considering listing your home for sale and looking to spruce up its look before hitting the market, you might also be interested in our article on how to master real estate negotiations.

 

If you have questions on how best to position your Oahu home for sale, who to call for painting services, or anything else real estate related, feel free to contact us anytime! We are happy to lend our expertise on all things Oahu real estate.

Posted in Trends
Oct. 14, 2020

Oahu Real Estate Newsletter: October 2020

 

October 2020


Hi friends,

Show of hands: Who has done some DIY home improvement in the last 6 months?

Statistics show… probably most of you!

To no one’s surprise, a huge amount of Americans have decided to make the most of their unplanned and extended homestay by finally making the updates and improvements they’ve dreamt about for years.

Combined with a bit of elbow grease and a wealth of YouTube how-to videos, this extra time at home has led to all-time-high stock prices for brands like Home Depot and Lowe’s.

A recent survey of 1,000 homeowners and renters reveals some interesting findings:
  • The most popular DIY projects these days are bathroom repair, interior painting, and bedroom decor.

  • Among the most successful projects for homeowners and renters alike is installing or enhancing a garden, while the least successful projects involve DIY repairs. (Better call a professional?)

  • A fresh coat of interior paint is both one of the cheapest and most successful projects undertaken, but exterior painting led to higher costs and lower success rates.

Home improvements are a great way to keep busy (if you’re not already busy enough) and reinvigorate your love for where you live. Of course, DIY only goes so far.

If you’re interested in making bigger changes to your living arrangements, now is a uniquely good time to do so. Today’s home buyers benefit from record-low mortgage rates, and sellers benefit from searing hot demand — and buyer/sellers enjoy the best of both!

As always, if you have questions about the market, or if you or someone you know is thinking of making a change, don’t hesitate to get in touch. We’re happy to help!


Read on for local updates, featured listings and more! 


Talk soon,
Mike & Lisa Styring
Hawaii Realty International

 
IN THE NEWS
Hawaii real estate agents report selling more homes sight-unseen than ever before
View Article
SFGate
Five ways the pandemic has influenced interior design trends in 2020
View Article
Forbes
 
FEATURED LISTINGS
Coming Soon in Kaneohe
Ahuimanu Area Home With Lush Mountain Views

3 BD | 2 BA | 1+ acre of land 
Listed for $1,450,000
 
751 Kaipi'i Street
Kailua

4 BD | 2.5 BA | 1,370 SQ FT | $898,000
IN ESCROW
 
41-1694A Kalanianaole Hwy
Waimanalo

3 BD | 2.5 BA | 2,546 SQ FT | $1,250,000
IN ESCROW in 3 days!
 
55-347 Kamehameha Hwy
Laie

3 BD | 2 BA | 1,098 SQ FT | $875,000
IN ESCROW
Represented Buyer
 
41-684 Kaaumana Pl #0
Laie

3 BD | 2 BA | 1,386 SQ FT | $538,000
IN ESCROW
Represented Buyer
 
RECENT SUCCESS
950 Lehua Avenue #602
Pearl City

2 BD | 1 BA | 674 SQ FT
SOLD for $299,000
 
2257 Kula Kolea Drive
Honolulu

4 BD | 2 BA | 1,864 SQ FT 
Sold for $970,000
Represented Buyer
 
44-006 Paku Place  
Kaneohe

4 BD | 2 BA | 2,827 SQ FT
SOLD for $1,357,000
Sold in 11 days for over asking price! 
 
92-1117 Panana Street #404
Kapolei

2 BD | 2 BA | 1,007 SQ FT
SOLD for $520,000
Sold in 7 days for over asking price!         
 
SEARCH ALL LISTINGS
 
 
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© 2020 Hawaii Realty International, All rights reserved.
970 N. Kalaheo Ave A210, Kailua, Hawaii 96734
Posted in Newsletter
Oct. 9, 2020

Is Buyer Demand Causing Housing Prices to Rise? What You Need to Know

The start of 2020 put Hawaii's housing market into a big ol’ slump. The coronavirus pandemic led to strict stay-at-home orders enforced throughout the state. For a short time in March, the Hawaii housing market was essentially frozen in place.

In the proceeding weeks, the freeze began to thaw, and by the start of the summer the market was heating up. Buyer demand began to rise, sales were beginning to rise, and more homeowners came around to the notion that it actually might be a good time to sell. This sudden change of course was one of the largest monthly surges in almost 40 years.

Now, the question folks are asking is, “How long will it last?” Will housing prices continue to rise the rest of this year? Or is it too good to be true?

Are you curious about how buyer demand is impacting the housing market this year? Here’s everything you need to know for fall of 2020!

Housing Prices During the Pandemic

At the start of the pandemic, the housing market chugged along at a snail’s pace. While the most motivated buyers and sellers continued in their pursuits, many more elected to postpone their buying or selling for a later time when pandemic restrictions loosened.

Those who did buy during this time saw record-low mortgage rates. The pandemic caused mortgage rates to drop as low as 3.29% for a 30-year conventional mortgage, at the time a 50-year record low which has since been lowered even further.

While homebuyers enjoy these low mortgage rates, housing prices are rising due to limited availability of listings. Those looking to buy have a smaller selection of homes available to purchase, and what is available is selling for more money than ever due to increased demand. Because of this scarcity of listings, many buyers are eagerly waiting in anticipation for more sellers to bring their homes to market.

As is natural in economics, limited supply has led to an increase in prices. While rising prices have become the trend in the last decade, the rise has been even more forceful in 2020. In May of 2019, the median closing price in the United States was around $278,200 which grew about 2.3% by May of 2020.

For 3 continuous months, housing sales declined. It wasn’t until June that the housing market finally hit a turnaround point.

Home sales have spiked, particularly in existing homes, but also in new construction. From May to June of 2020, there was an increase of around 20% more home sales which includes condominiums, townhomes, and single-family homes. This is largely due to increased buyer demand.

While many buyers and sellers enjoy success in this recovering, booming market, some are wondering about what the Fall will bring. There have been second and third waves of the pandemic affecting different parts of the globe. What will the housing market look like for the rest of 2020?

Is the Housing Market Recovering?

June through September showed considerable promise in regards to a recovering housing market. Home sales all over the country continue to rise, as they did throughout the summer.

The country’s coasts are leading the recovery, showing greater sales than even before the pandemic hit in March. The end of July showed a rise in not only sales but in demand and price as well.

Is Buyer Demand Still Growing?

Buyer demand is continuing to grow as we enter the Fall Season. By the end of July, the demand index was almost 17 points above that of January. Analysts calculate this number by tracking search activity online.

Some may find this surprising, as house prices are rising and inventory remains low. But with rock-bottom mortgage rates, many homebuyers want to get in while it’s good. On the other hand, many home sellers are still waiting before putting their homes on the market.

Researchers believe buyer demand will continue to grow throughout the Fall of 2020. The biggest challenge sellers are facing is that a large number of them are also buyers.

Growing buyer demand and limited inventory can make finding the right new home to buy a challenging process these days. Some prospective sellers are finding it easier to refinance and renovate their current home than to find something better.

Other issues sellers face include health and safety concerns during the coronavirus, along with potential job loss given the tumultuous state of the economy.

Buyer demand will likely fade towards the end of the year, as it always does in the holiday season. But this fall, activity should remain very strong compared to the spring market. Millennial buyers will continue to make up a huge part of the buyer demand as they search for their first taste of home ownership.

Will current home buyer demand be sustainable throughout the rest of the year? If more sellers come to market this fall, buyer demand may be satiated. But if buyers are still fighting for a small supply of listings well into next year, then high demand isn’t going anywhere either.

Why Housing Prices are Rising

Like buyer demand, housing prices are also rising. Compared to the median home price in January, homes in  September are about 5.5 points above January prices.

What's causing this rise in house prices? The main 2 factors influencing home prices are a record low housing supply and a growing buyer demand. The few sellers on the market feel more confident asking for more as they’re likelier to make a sale with such a large demand. Bidding wars are becoming more frequent.

Typically during an economic downturn, housing prices remain stagnant, or grow more slowly, or even fall. This year has been a clear exception, as housing prices have accelerated upwards throughout the summer.

This upward trend may slow later this year and early into next year. Future economic impacts remain to be seen, and a hit to the economy could slow the rate of buyer demand and increasing home values. In any case, it’s unlikely that home values will rise at such a quick pace for many more months to come, though they will likely continue to rise.

Changes in Home Sales

Since May, home sales have risen monthly by 16.6%. There has also been an increase this year of 6.3% since June of 2019.

Most buyers are looking for affordability and space. The combination of stay-at-home orders, working from home, and schooling from home, is driving people to look for more spacious places to live. Of course, this is a greater challenge given the limited inventory of active listings.

Listings are spending less time on the market compared to a year ago. Buyers and sellers are connecting and closing sales much faster than before.

Is Housing Supply Increasing?

Since the spring, supply of listings has been slowly increasing. Compared to years before, however, the supply is still growing at a much slower rate than in January. More sellers are re-entering the housing market, but with a certain amount of caution.

Some prospective sellers express concern that their homes are unlikely to sell due to social distancing. Some are unwilling to show their homes in person and others are waiting until the pandemic passes. After months of working safely according to state and local regulations, these fears are largely unfounded, though it’s always good to be safe.

The reopening of the United State’s economy plays a key role in the housing supply. The current trend is an increase in housing supply, but everything hinges at least in some part on the future twists and turns of the COVID pandemic.

Housing Market Predictions for 2021

The overall number of home sales in 2020 is likely to be significantly less than the year before.  Many houses will sell this fall, indeed, but the overall rate will likely drop to one not seen since the early nineties. 

Many analysts believe the economic cost of the pandemic will continue to burden the economy in 2021 and for years to come. The projections for the 2021 housing market have also lowered from 6.3 million to 6 million sales.

A few likely scenarios for the rest of 2020 and into 2021 include:

- Housing prices will continue to grow, but growth may slow

- Mortgage prices will almost certainly remain at record lows

- Housing availability will remain lower than normal, but should continue to rise through the fall

- Buyers will continue to prioritize affordability and space, both inside and out

- Buyer and seller confidence will continue to rise, barring any unfortunate developments in the pandemic

The unforeseen health crisis and its economic impacts will continue to influence buyer demand and listing supply. Some of the largest metro areas in Hawaii and throughout the United States have seen an increasingly tight inventory of listings in recent months. If more sellers decide to jump into the fray, this trend could reverse in a busy fall selling season.

The affordability of homes remains an ongoing struggle and will be an even greater challenge as prices rise. Before the COVID pandemic, many younger buyers struggled to find a home that fit their budget.

Unfortunately for them, housing prices will continue to rise for the rest of 2020. Newly constructed homes will not be much help, as homebuilders continue to focus on mid-high to high-end homes rather than affordable housing solutions.

The Housing Market is Looking Up

Since the lull in early spring, the housing market has been looking up. There have been glimmers of hope in the pandemic, giving the economy a chance to breathe. Uncertainties still abound, but buyer demand remains strong thanks to low mortgage rates.

If you’re looking to buy or sell a home this year, now is the time. Buyers can enjoy all-time low mortgages. Sellers can benefit from selling their homes at higher prices and potentially a faster rate than before the pandemic.

Are you looking for a home or planning to list yours? Do you know a friend or family member who is? Let’s connect for a no-pressure conversation. We’re happy to lend our expertise and carefully guide you through every step of the home-buying and selling process!

 

Posted in Trends
Sept. 16, 2020

Oahu Real Estate Newsletter: September 2020

 
 

September 2020


Hi friends,

Spring is always a busy time for home buyers and sellers. 

It happens every year... except it didn’t this year. This spring, instead of waking from its winter slumber, the real estate market stayed under the covers while we tried to understand the unfolding crisis.

Since then, a flood of pent-up demand has poured into the market, driving closing prices higher than ever. If things keep up, Oahu home buyers and sellers can expect a very busy and fruitful fall season.

So what can you do to be prepared?

If you’re thinking of buying this fall:
  • Determine your budget, and get preapproved for a loan. This helps you act fast in a fast-moving market.

  • Learn what to expect beforehand. Talk to your agent (we know some great ones) about local market conditions and the buying process.

  • Decide on your deal-breakers and where you can be flexible. Paint and countertops are easily changed. Location and floor plan, not so much.
     

If you’re thinking of selling this fall:

  • Come up with a plan. Where will you move? Will you rent or buy? Will you invest in high-ROI improvements and staging? It pays to be prepared.

  • Make the most of your time at home by getting your house in selling shape. Declutter and store things away. Boost your curb appeal. Make any necessary repairs.

  • If you plan to buy and sell, then do all of the above!


It’s a unique time to buy or sell, with lots of great reasons to do both. If you feel like it’s time for a change, please don’t hesitate to reach out. We’re happy to help — let’s talk strategy!

Read on for local updates, featured listings and more! 


Talk soon,
Mike & Lisa Styring
Hawaii Realty International

 
IN THE NEWS
People fleeing big cities may spur economic growth in smaller metros
View Article
Forbes.com
Mortgage rates tumble to yet another all-time low
View Article
Realtor.com
 
FEATURED LISTINGS
Coming Soon in Kaneohe
Ahuimanu Area Home With Lush Mountain Views

3 BD | 2 BA | 1+ acre of land 
Listed for $1,450,000
 
751 Kaipi'i Street
Kailua

4 BD | 2.5 BA | 1,370 SQ FT | $898,000
ACTIVE
 
41-1694A Kalanianaole Hwy
Waimanalo

3 BD | 2.5 BA | 2,546 SQ FT | $1,250,000
IN ESCROW in 3 days!
 
2257 Kula Kolea Drive
Honolulu

4 BD | 2 BA | 1,864 SQ FT | $990,000
IN ESCROW - Represented Buyer
 
950 Lehua Avenue #602
Pearl City

2 BD | 1 BA | 674 SQ FT | $299,000
IN ESCROW in 3 days!
 
RECENT SUCCESS
44-006 Paku Place  
Kaneohe

4 BD | 2 BA | 2,827 SQ FT
SOLD for $1,357,000
Sold in 11 days for over asking price! 
 
92-1117 Panana Street #404
Kapolei

2 BD | 2 BA | 1,007 SQ FT
SOLD for $520,000
Sold in 7 days for over asking price!         
 
91-1241 Kaiokia St
Ewa Beach

4 BD | 2.5 BA | 2,300 SQ FT
SOLD for $905,000
Represented Buyer
 

3 BD | 2 BA | 1,189 SQ FT
SOLD for $690,000
 
SEARCH ALL LISTINGS
 
Stay in touch with us!
 
Posted in Newsletter
Sept. 8, 2020

What Is a Smart Home and Why Should You Want One?

When people think about the latest gadgets, smartphones, laptops, or gaming consoles come to mind. One of the newer advances in technology is with smart homes.

What is a smart home? These homes are able to work more for you and assist you although they are not quite popular yet. However, as more homes become "smart" the growth potential and demand is growing. There are more than $45 million smart homes in the US, with the market expecting to climb to $141 billion by 2023.

If you are curious to find out more about smart homes and how they can benefit you and your home's value, keep reading.  

What Is a Smart Home?

There are variable qualifiers that make a home "smart." Overall, smart homes include devices and capabilities that make it smart. Of course, this also means they use fewer wires. You can connect to the Internet, radio, or TV wirelessly or control what you want by voice command. 

The automated equipment handles everything you previously had to do. The artificial intelligence that these devices have allows homeowners to have a better home structure. 

It Offers Better Convenience

The reason many people own technology is because of convenience. Most Americans own at least one "smart" product in their home and are happy with the ease that comes with it. It may not seem like much, but you save minutes to an hour or so in your day with the assistance of smart devices. 

You no longer have to get up to turn a device on or off. Smart devices allow you to relax and will do the work for you. The ease allows many homeowners to multi-task and get more things done or get it done in less time. You can focus more on things that matter. 

Allows You to Save Money and Energy

Thermostat Automation

Smart homes help you by becoming more money smart. For example, automated thermostats in a home that can detect how many people are in a room can make proper adjustments in the heating and cooling system.

You can save as much as 10 to 15 percent on your electricity bill. Heating and cooling cost the most money, and the addition of a smart thermostat can rack up as much as $1,000 in savings by the end of the year. 

You can also save more on your utilities with smart lights that help you decrease unnecessary usage. When you leave a room or leave your house, automated apps recognize this and turn off on their own.

Smart showers will do the same and help you save on your water bills. You could cut as much as 40 to 50 percent of your bill.

Smart showers reduce overall water consumption and smart washing machines can do the same. With the use of smart technology, you are in more control of energy usage so you can ensure your home runs efficiently. 

Enhanced Safety and Security

automated home security

As a home buyer, you also expect a home to be in a safe area. Smart homes enhance the safety and security of that home thanks to the addition of smart devices. Security is a top reason many homeowners decide to invest in a home. 

Burglary and violence are an unfortunate reality in the US even at home. Dissuading intruders from entering your home plays an important part in keeping you and your loved ones safe. 

Smart safety devices can also detect radon, moisture, and carbon monoxide levels in your home as well as fire. There are security doorbells that allow you to see anyone on your property through motion detection. 

You are able to check and control the devices at your home or while you are away by using a tablet or smartphone. Homeowners can add more security with a smart lock. Whether you are home or away, smart home safety devices keep you protected around the clock. 

Better Entertainment

Smart home devices such as smart TVs and Bluetooth offer better entertainment. You can control entertainment devices by voice. If you wanted to, you would also connect many of these devices as one, allowing you to control everything anywhere in your home. 

If you have to change rooms and need more volume to hear the movie or song you were listening to, you could raise the volume via speech command. Smart TVs are highly multifunctional. If you like to stay connected to social or speak with family and friends, you can make video calls.  

One of the best smart home devices to own is the Echo. It's a great purchase because it is also highly compatible with a number of devices. 

Higher Selling Profitability

welcome home 

Convenience, entertainment, security, and saving money are great, but do smart homes add value to the property? Smart homes are equally popular among older and younger generations. The value of these homes speaks volumes, and this is reflected in its selling price. 

The demand for owning a smart home allows you to increase the value of that home by five percent. This translates to be $10,000-200,000 depending on the house to purchase or the additives you include. It's a smart investment that you can take advantage of to prevent the values of that home from depreciating. 

Buying a Smart Home in Oahu

Getting another home involves an extensive process of thinking to make the right moves. You must consider things you are looking for while keeping the price in mind. You also want to get a house that can help you while you live in it and help your pocket when you decide to sell it. 

What is a smart home? If you want to learn a few smart home basics and would like help from people who understand the business, connect with us. We can assist you during the home-buying stage so you can make better choices you are happy with. 

We offer amazing resources to our clients and can work directly with those who live in Oahu. 

 

Posted in Buying a home
Aug. 28, 2020

Oahu Real Estate Newsletter: August 2020

 

August 2020


Hi friends,

Mortgage rates just keep on falling. For the eighth time this year, the national average for a 30-year fixed conventional loan has hit a new record low.

What do you get when you pair sub-3% mortgage rates with a population stuck inside?

You get the latest trend in real estate: Trading up!

New research reveals that today’s home seekers want more space and more amenities — and they are willing to pay extra for it. All across the country, home sales are shifting upwards from the lower- to middle- to high-end of the market.

It’s understandable: Who wouldn’t want a bigger yard for outdoor play? More living space for virtual schooling? A better kitchen for the chef in the family (who is extra-busy these days)?

Even home builders are getting in on the action, spotlighting dedicated home offices in their newest floor plans to serve the growing home-based workforce.

If you’re like most buyers, recent months have motivated you to improve your living arrangements. With mortgage rates now lower than ever, does it seem like a bad time to make a change?


Talk soon,
Mike & Lisa Styring
Hawaii Realty International

 
IN THE NEWS
Pending home sales continue to rebound across the country in June
View Article
Realtor.com
Mortgage rates hit new low, keeping rising home prices in check
View Article
Forbes
 
FEATURED LISTING
950 Lehua Ave #602
Pearl City

2 BD | 1 BA | 674 SQ FT | $299,000
ACTIVE
Why throw away money on rent when you can buy?!

Just a short commute to Pearl Harbor/Hickam or Honolulu and offering a large covered lanai with amazing sunset views, this affordable condo is a great investment opportunity. Fix up and earn immediate equity! 
Hurry, this one won't last!

*$5000 credit for buyers closing costs or upgrades*
 
92-1117 Panana Street #404
Kapolei

2 BD | 2 BA | 1,007 SQ FT | $515,000
IN CONTRACT - CLOSING SOON         
 
44-006 Paku Place  
Kaneohe

4 BD | 2 BA | 2,827 SQ FT | $1,299,000
IN CONTRACT - CLOSING SOON
 
RECENT SUCCESS

3 BD | 2 BA | 1,189 SQ FT
SOLD for $690,000
 

2 BD | 2 BA | 1,199 SQ FT
SOLD for $675,000
 

3 BD | 2 BA | 1,270 SQ FT
SOLD for $580,000
 
 
SEARCH ALL LISTINGS
 
Stay in touch with us!
 
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© 2020 Hawaii Realty International, All rights reserved.
970 N. Kalaheo Ave A210, Kailua, Hawaii 96734
Posted in Newsletter
Aug. 24, 2020

Mortgage Rates Are at a Record Low

 

 

The average rate on 30-year home loans has dropped below 3%, which is the lowest it's ever been since the rates were first tracked in 1971

Many analysts predicted the COVID-19 pandemic would decimate the housing market, but the opposite has happened. Mortgage applications are trending upwards as people want to buy their first home or refinance interest rates. 

We know what you're thinking: Should I lock in my mortgage rate today?

Keep reading below to learn about why now is the best time to get a deal on real estate. 

How COVID-19 Affected Real Estate Market

The current home market is opening up opportunities for certain kinds of buyers. But, the fact is the economy is struggling through the pandemic and it will take some time to rebound.

Even before COVID-19, higher home prices made it tough for buyers. There has also been a growing shortage in housing inventory since the 2008 crash. 

So far this year home prices are decreasing and interest rates are at a historic low. 

The virus has also made it difficult to visit potential homes. Many realtors now use virtual home tours to target specific audiences, save time, highlight key features, and more. 

 

Should I Lock in My Mortgage Rate Today?

Now is a great time to purchase a home if you are a certain kind of buyer:

  1. You have cash saved for a down payment
  2. You're flexible about a closing date
  3. You can demonstrate strong job security

The timing is perfect for first-time buyers—not worried about selling their current home—and real estate investors. 

It's harder selling a home right now so buyers trying to unload their old property may be delayed. 

As a buyer, your most important consideration should be job security during COVID-19. Are you confident that your office won't be closed or you won't be laid off? If the answer is no, it's not the right time to buy. 

Taking Advantage of Current Refinance Rates

Another option for homeowners is to refinance. They could get something lower than their current home interest rates. 

The average rate is under 3% but it's important to remember that mortgage bank rates differ from lender to lender. Some may be 2.8% while others could be 3.1%. This means you'll need to shop around and check the actual APR rate. 

Refinancing can get you lower monthly payments, a shorter loan, or more home equity. But, you'll want to use a refinance calculator to make sure you'll benefit in the long run.

It all depends on your "break-even" point and the total length of your original loan. A few bad calculations can result in losing money. 

 

Don't Miss Your Chance to Buy or Refinance

Now, if asked "should I lock in my mortgage rate today?" you know what our answer will be: "what're you waiting for?" Don't miss your chance! 

We understand how buying a home is a huge investment. Our role at Hawaii International is to help our clients find their dream home in Hawaii.

 

Contact us now to get the process started. 

Posted in Buying a home
Aug. 14, 2020

Mastering Real Estate Negotiations

 

If you want to work with the top Oahu real estate agent, get the best price and favorable terms, and feel great about the outcome when it’s done, you need an expert negotiator. 

Real Estate Negotiations Matter

At its core, a real estate transaction is a push and pull between buyer and seller. Buyers want the best deal. Sellers do too. Both sides of a transaction are looking for every edge to maximize their investment. 

 

For home buyers who finance their home purchase with a mortgage, the closing price is further multiplied over the lifetime of their loan. On the other side, sellers want to feel like they are getting the most money possible when they part with their property. They may have an emotional attachment to their home, on top of their financial incentive. Decisions can be emotional and not always based on fact, logic and reason. It can seem like a miracle that any deal comes together! 

 

For the best results, you need an expert negotiator.

 

Of course, a home is about more than money. A home buyer might love a home so much that they will pay just about anything for it. A home seller might want or need to sell badly enough that price is a secondary concern. But no matter what, you probably do not want to leave money on the table. You probably want to feel that you did the best you could. 

 

You need an expert negotiator.

 

Negotiations provide the greatest opportunity for improving the results of your real estate sale. There are many steps involved in listing a home, and each one is valuable. Our team at Hawaii Realty International is proud to bring decades of experience to our clients, helping them win at every stage. But while things like strategic repairs, improvements, staging, and marketing are important, negotiations create value seemingly out of thin air through skill and tact alone.

 

Whether your listing receives one or five or fifty offers, you want to make sure you obtain the full market value for the home. It can seem like the results do not vary agent to agent. If you look at marketing plans, you might get the sense that we all do the same thing. Make no mistake, there is a difference.

 

Would it surprise you to know that a listing agent who is a skilled negotiator can increase the sales price anywhere from 1–10% or more from the highest offer that was originally submitted?

Real Estate Negotiations By the Numbers

Let’s say you put your home on the market. When a good offer comes in, does it make sense to accept the offer or go back for more?

 

We start with the listing price. Next is the initial highest offer, which the buyer originally submitted. That initial offer is influenced by many factors, including list price strategy, staging, marketing, overall market conditions, and initial negotiations between the listing agent and the buyer or their agent. After the initial offer, we negotiate further to arrive at the final price.

 

Through precise, strategic negotiations, we are able to boost the selling price by thousands of dollars, even with only one or two offers on the table. Our listings frequently close at a substantially higher price than the initial highest offer.

 

You really do need an expert negotiator.

Best Oahu Listing Agents | Real Estate Agent Negotiator

While most media depicts the real estate process as one big house hunt (and who doesn’t like to watch couples argue over cabinetry?), it often omits the critical steps that happen after buyers submit an offer. 

 

Part of an agent’s job is matchmaking, finding buyers a home or finding a home a buyer. The other part of the job is what happens next. What separates the best Oahu real estate agents from the rest is the ability to create additional value for the client.

 

With a skilled negotiator on your side, you’ll come to a smooth resolution with more money in your pocket. Without a skilled negotiator, you’ll leave money on the table (if a deal is made at all).

 

You need an expert negotiator.

 

If you are thinking of buying or selling a home in Oahu, please don’t hesitate to reach out. Contact top Oahu real estate listing agents Hawaii Realty International.



Posted in Selling a House
July 28, 2020

Oahu Real Estate Newsletter: July 2020

 
 

July 2020


Hi friends,

Most buyers start their house hunt by getting a feel for the market. Which neighborhoods suit you best? What style of home do you prefer?


Perhaps more importantly, though, you first need to know what you can afford.

In that regard, there’s great news: Right now, your money goes further than ever!

Since late 2019, mortgage rates have been steadily falling. We’ve seen new record lows set multiple times since February. Now sitting at just above 3%, the current national average rate on a thirty-year conventional mortgage is undeniably appealing.

For buyers, this means you can buy “more house” with the same income and savings (or pocket the difference for a rainy day).

For sellers, this means a better chance at higher, multiple offers.

For investors, this means an opportunity for increased leverage. The national average for 15-year fixed-rate and 5-year adjustable-rate mortgages are at rock-bottom, too!

If the trend continues, rates may fall even lower. Either way, now is a uniquely good time to finance a deal. If you’re thinking of making a change, let’s talk strategy!


We'll leave you with a gorgeous snapshot taken by our own Hoku Gunderson at Big Beach in Kihei, Maui (above). We hope lately you've been finding your own rainbow amongst the storm.


Talk soon,
Mike & Lisa Styring
Hawaii Realty International

 
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FEATURED LISTING
92-1117 Panana Street #404
Kapolei

2 BD | 2 BA | 1,007 SQ FT | $515,000
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Kaneohe

4 BD | 2 BA | 2,827 SQ FT | $1,299,000
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950 Lehua Ave #602
Pearl City

2 BD | 1 BA | 674 SQ FT 
COMING SOON
 
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3 BD | 2 BA | 1,189 SQ FT
SOLD for $690,000
 

2 BD | 2 BA | 1,199 SQ FT
SOLD for $675,000
 

3 BD | 2 BA | 1,270 SQ FT
SOLD for $580,000
 

3 BD | 2 BA | 1,934 SQ FT
SOLD for $1,290,000
 
120 Kuailima Dr
Kailua

5 BD | 3 BA | 1,701 SQ FT
SOLD for $1,755,000
Represented Buyer
 
 
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Posted in Newsletter
July 23, 2020

10 Major Benefits of Virtual Home Tours

About 81% of marketers agree that interactive content is better at grabbing an audience's attention. About 75% of marketers use interactive content to educate their audiences. Instead of focusing on a hard sell, interactive content combines authenticity and quality content to help you stand out from other homeowners trying to sell.

In fact, offering virtual home tours is one of the best forms of interactive content you can utilize when selling your property.

With COVID-19 quarantines still underway, virtual tours can help you to reach buyers while they remain safe inside. 

Meanwhile, virtual house tours can attract more potential buyers and give you an advantage in the marketplace. Still on the fence? Here are 10 benefits you can experience by offering house tours online.

Keep reading to learn more about how offering virtual home tours can get you ahead of the curve.

1. Generate More Interest

Over 50% of home buyers find their new homes through the internet. Many of these online homebuyers look for virtual house tours before voicing their interest. Virtual tours are most important to buyers who fall within the 52 to 71 age range. 

By creating virtual home tours, you can reach more potential buyers.

With people staying at home in response to COVID-19, you can't wait for people to schedule an in-person tour. Instead, you need to attract more people to your property. Adding virtual real estate tours to your listing can help you expand your reach. 

As more people stay home, buyers are relying on the internet to research real estate properties. Using virtual tours will help you market your property even while buyers stay at home.

Appeal to Your Target Audience

In fact, providing visuals of the property is a better way to appeal to buyers. Virtual tours offer more details than simple sketches. By providing buyers with online home tours, you can add details that are bound to make an impact. 

At the same time, you're providing home buyers with helpful information that will help them make an informed decision.  

Virtual house tours can help you reach your target audience, too. You can integrate customized features based on your audience's expectations. Using a customized approach will increase your chance of closing a sale. 

At the same time, you're making customers feel special and valued. As a result, they'll turn toward your property instead of another.

As you attract more visitors to your listing, you're also increasing your property's search engine ranking. Once you reach the top of a search page, you can earn more visitors than competing sellers. A higher ranking will also build brand trust, your credibility, and boost awareness!

2. Save Valuable Time

Listing a new property for sale by conventional means can result in hundreds of phone calls from potential buyers. You'll need to complete in-person tours that may or may not result in a sale. Meeting each of these potential buyers in person can waste your valuable time and energy.

In many cases, some of these buyers are simply curious. 

Often enough, curious buyers are only touring different homes. They don't have the intention of making a reach purchase.

Virtual home tours allow buyers to determine their interest. They can explore a property straight from their phones or laptops. If they're genuinely interested in the property, they can contact you for more information.

Encouraging prospective buyers to explore your online house tours first will help you determine the true buyers. Then, you can focus your time and attention on closing those sales. 

3. Encourage Interactions

In addition to helping you attract more site visitors, virtual home tours can also increase your clickthrough rate. A higher clickthrough rate will increase your listing's ranking on search engines like Google.

Virtual house tours encourage people to click around and interact with your content.

Visitors will click around to navigate their way through your virtual real estate tours. Meanwhile, they can also leave comments on your posts and ask questions about aspects of each property. For example, a prospective buyer can ask about the flooring and countertop materials.

Then, you or your real estate agent can easily respond in real-time.

These instantaneous interactions will help you discover prospective buyers. At the same time, you're increasing the listing's search engine ranking, allowing you to reach even more buyers. 

4. Reduce Bounces

A high bounce rate can have a negative impact on your listing's search engine ranking. The bounce rate indicates how many people leave the listing and how quickly.

Adding virtual tours to your listing can boost engagement and the clickthrough rate, which will decrease the bounce rate.

Search engines like Google will recognize that the listing is keeping visitors engaged and on the page. Google will prioritize your listing over ones with a low clickthrough rate and a high bounce rate. 

Most virtual home tours take about a minute. That's an additional minute you can keep people occupied on your listing. As each visitor's dwell time increases, your bounce rate will drop. 

Remember, the higher you rank on search engines, the more people will visit your listing.

5. Stand Out From Competitors

Many real estate agents aren't aware of the benefits of virtual tours. Offering these tours before other sellers do will give you an advantage in the marketplace. 

As one of the few people offering virtual tours in your target area, you can stand out from the crowd. You'll attract the attention of prospective buyers before others can. 

Your target audience will recognize the convenience you're offering them. They'll choose to explore your online home tours instead of touring another property in person. Then, you can get ahead of other sellers in your area by maintaining that advantage. 

Failing to offer remote tours, on the other hand, can cause you to fall behind the curve. As your competitors recognize these benefits, they'll start offering online tours themselves.

Get ahead of the curve and start attracting buyers to your property listing before your competitors can. 

6. Increase Shares

Once your real estate agent posts your home online, you'll want to generate as much traffic to your listing as possible. 

Virtual house tours are eye-catching, engaging, and worth sharing. As more people share your online home tours, you'll receive a backlink to your listing.

At the same time, you'll improve your listing's authority, which can further improve your search engine ranking.

The more backlinks you generate, the better for your ranking. Then, you can attract more visitors to your listing and generate more interest!

7. Get Social 

You can also generate more interest by sharing your virtual tours on social media. A high-quality virtual tour can even go viral. The more people you impress with your house tour, the more likely they'll share the tours with their friends. 

Search engines like Google also use social media signals when determining search rankings. You can ensure your listing goes viral by creating unique, quality content. 

You can also encourage social sharing by using emails. As you share your virtual home tours over email, people will send the email to others. As a result, you're also extending your reach and marketing your property to other buyers!

8. Offer Ease

Cleaning and staging virtual house tours can take time and energy. You'll want to make sure the entire house is in pristine condition before scheduling an in-person tour. With virtual home tours, however, you won't have to waste valuable time.

Instead, you'll have the convenience of providing buyers with a tour regardless of the property's actual state. 

In fact, virtual tours are one of the best ways to present any property. The listing will look attractive and explorable, even online. You can highlight different spaces, allowing buyers to navigate between one room and the next on their own. 

At the same time, you're creating a permanent open house by providing potential buyers with 24/7 hour access to the property. As a result, people will also see you're reliable and ready to offer the information they need. 

9. Highlight Key Features

The time homebuyers spend looking for the perfect home has decreased by three days year-over-year. That means you have a short window to make a strong first impression. 

Decades ago, static newspaper and magazine listings were enough to grab a homebuyer's attention. Now, agencies need to use photography, videos, and walk-throughs to attract buyers. 

Today, you can use virtual real estate tours to provide buyers with all the visual information they could possibly need.

You can also customize these tours to highlight specific features for each listing. For example, if you can show off the latest home improvements you've made. Buyers can zoom in, examine details, and explore your properties day or night! 

10. Improve Your ROI

Virtual house tours can increase your sales and boost your return on investment (ROI). Instead of wasting time and money with in-person tours, you can use virtual tours to pinpoint prospective buyers. You can focus on increasing the value of your home, too!

These tours can help you reveal key selling points for each property, increasing your chance of a sale!

Take a Tour: 10 Major Benefits of Virtual Home Tours

Want to sell your home as soon as possible? Experience these benefits of virtual home tours for yourself! By creating a virtual tour, you can attract buyers and sell your property in no time.

We're here to help. Connect with our team today to sell your property using virtual tours!

Posted in Selling a House