Tuesday's Listing Updates from Neaulani Kuamo'o-Peck (RA) SRES, CLS, CNAS
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Showing posts with label Market Update. Show all posts
Showing posts with label Market Update. Show all posts
Tuesday's Listing Updates
ID #201621912 - Listing courtesy of Paradise Island Properties LLC
2017 Real Estate
2017 Real Estate Trends to Watch
As the old saying goes, “today’s trends are tomorrow’s reality.” In fact, the forces that will shape 2017 real estate trends are already in motion today and will continue to develop over the coming year. Here are five national real estate trends to watch.
As the old saying goes, “today’s trends are tomorrow’s reality.” In fact, the forces that will shape upcoming 2017 real estate trends are already in motion today and will continue to develop over the coming year. Here are five national real estate trends experts say are noteworthy for 2017.
1. Walkable Communities
With the recent swing of the pendulum that has seen Millennials flocking to the suburbs, the need for walkable communities has drastically increased in turn. Suburbia is now seeing its dynamics change from outlying neighborhoods reliant on automobiles to chic suburban enclaves with enhanced public transport links and commercial hubs that cater to the work, live, play philosophy well entrenched in urban areas.
Image Source: StockSnap.io
2. Downtown Redevelopment
A recent study completed by PWC and the Urban Land Institute shows the growing trend towards mixed use planning in the redevelopment of urban areas, which mimic the changes happening in the suburban centers. Mixed-use planning and redevelopment of former industrial areas into mixed use residential and commercial spaces boost the walkability factor that is so lauded, but missing, in some of America’s largest urban centers.
3. Inclusionary Zoning
Along with the gentrification and urban renewal listed above, the study also touches on what it calls the “velvet rope” effect, where chasms in the income gap become evident in housing affordability in key neighborhoods. The promising news is that more and more local governments are creating measures to increase inclusionary zoning that will open up opportunities for the middle and lower-middle class to gain entry to otherwise unattainable areas. Inclusionary zoning ensures new developers reserve a certain portion of their development for affordable housing. The benefit is in the creation of the sorts of enclaves listed above that is building the type of accessible community sought by the next generation of buyers.
Image Source: StockSnap.io
4. Mild Increases
Though predictions in every market can change, the overall consensus is a slight increase in both new development and housing prices as the 2016 market increases level off. While the overwhelming majority of real estate professionals have an eye towards a decreasing market, Forbes recently noted that it takes time for real estate patterns to level off, leaving the 2017 real estate trends in an upswing at the very least, which is good news for those looking to sell in the short-term.
5. The Internet of Things
With technology virtually at the heart of everything we interact with on a daily basis, there’s ample reason to believe this trend will continue in real estate. Technology is no longer considered a rare luxury but a part of a full and convenient life. This expectation is spurring homeowners to consider renovations that bring the essence of the smart home to the market. Learning thermostats and integrated technology such as solar panels, USB hubs, and automated home functions will continue to gain popularity, both in new home buyers and also for retirees looking for the added convenience and simplicity that will allow them to remain independent in their homes. While a Jetsons-style future still may be far off, the overall concept of bringing technology to the masses is certainly not slowing down in real estate.
Image Source: StockSnap.io
The Big Picture
Though far from earth shattering, the 2017 real estate trends point to a more inclusive set of rules to play by in the real estate field. This has the potential, at least in part, to redefine what community means, and how to adjust our neighborhoods and cities to best meet the demands of modern living, while maintaining residential spaces as great places to live, work, play, and raise families.
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Lighting When Selling Your Home
The Importance of Lighting When Selling
The following is a guest post from Patti Stern, PJ & Company Staging and Interior Decorating. Lighting is a key element that should not be overlooked when preparing a home for sale. If not updated, it will convey the age and condition of a home. The right light will not only enhance a home’s features, but […]
The following is a guest post from Patti Stern, PJ & Company Staging and Interior Decorating.
Lighting is a key element that should not be overlooked when preparing a home for sale. If not updated, it will convey the age and condition of a home. The right light will not only enhance a home’s features, but make it feel larger, more modern, and ultimately more inviting to potential buyers.
The following are some basic tips to help understand the different types of lighting that are important when showcasing a space and making a home showing memorable.
Natural Lighting
A dark room is an immediate turn-off to buyers. The easiest first step is to let the sun shine in and increase natural light as much as possible by opening curtains and blinds and cleaning windows thoroughly.
A dark room is an immediate turn-off to buyers. The easiest first step is to let the sun shine in and increase natural light as much as possible by opening curtains and blinds and cleaning windows thoroughly.
Model Home Entrance/Dining Room Staged by: PJ & Company Staging and Interior Decorating Wall sconces on both sides of the mirror complement the style of the main dining room chandelier and adds an overall warmth and style.
Aesthetic Lighting
This type of lighting is used most often in Entryways, Dining Rooms, Living Rooms, Family Rooms and Bedrooms to focus attention on artwork, architectural features and create a mood. Floor and table lamps, wall sconces and recessed lights are all aesthetic lighting sources that work well when layered with a main light source or alone depending on the size of the room.
This type of lighting is used most often in Entryways, Dining Rooms, Living Rooms, Family Rooms and Bedrooms to focus attention on artwork, architectural features and create a mood. Floor and table lamps, wall sconces and recessed lights are all aesthetic lighting sources that work well when layered with a main light source or alone depending on the size of the room.
Kitchen Remodel by: PJ & Company Staging and Interior Decorating. Replacing the chandelier above the island with industrial style pendants and adding recessed lighting creates a more contemporary look with important task lighting.
Task Lighting
Certain rooms such as the Kitchen, Bathroom and Office require more illumination for specific purposes such as preparing meals, cosmetic application or reading. For kitchens, focus on work areas such as under cabinets, over islands and sinks. In bathrooms, use wall mounted fixtures above or on the sides of vanity mirrors. Offices usually require one main ceiling light source as well as recessed lighting and a desk lamp.
Certain rooms such as the Kitchen, Bathroom and Office require more illumination for specific purposes such as preparing meals, cosmetic application or reading. For kitchens, focus on work areas such as under cabinets, over islands and sinks. In bathrooms, use wall mounted fixtures above or on the sides of vanity mirrors. Offices usually require one main ceiling light source as well as recessed lighting and a desk lamp.
Bathroom Remodel by: PJ & Company Staging and Interior Decorating. Outdated fixture above toilet was removed and a new more contemporary fixture was added above the vanity mirror to complement the style of the remodeled powder room.
The following are some of the common issues that we see before staging and decorating homes:
Light fixtures are outdated.
Replacing older styles with more trendy, contemporary fixtures is an easy way to make a room feel more current. While you’re at it, be sure that the fixture is in the best location to brighten where needed most. It’s also important to replace dead bulbs with new ones so all are in working order. While selling, make sure the bulbs are not the energy saving ones that take too much time to light up.
Replacing older styles with more trendy, contemporary fixtures is an easy way to make a room feel more current. While you’re at it, be sure that the fixture is in the best location to brighten where needed most. It’s also important to replace dead bulbs with new ones so all are in working order. While selling, make sure the bulbs are not the energy saving ones that take too much time to light up.
Lamps that are too small for the room.
An easy fix is to update small lamps with larger ones that not only provide more light but make the room feel visually interesting and well balanced. We enjoy shopping for new lamps with all the affordable and fun styles available which can instantly give a room a whole new look.
An easy fix is to update small lamps with larger ones that not only provide more light but make the room feel visually interesting and well balanced. We enjoy shopping for new lamps with all the affordable and fun styles available which can instantly give a room a whole new look.
A single light is used in a large room.
The trick is to layer lighting by adding aesthetic lights such as wall sconces and recessed lights with dimmers which will add warmth and depth. Another idea is to change out older style fans that are not used often for actual light fixtures.
The trick is to layer lighting by adding aesthetic lights such as wall sconces and recessed lights with dimmers which will add warmth and depth. Another idea is to change out older style fans that are not used often for actual light fixtures.
Should You Paint Before You Sell?
Painting Your Home from A to Z
Should You Paint Before You Sell? Top Designers Say, “Of Course!”
Guest Post by Kerrie Kelly, ASID
Paint color is a tricky, personal decision for homeowners, and prepping your home for sale only complicates the decision making process. After all, the stakes are a little higher when money is involved.
Any realtor will tell you that a fresh coat of paint—inside and out—is the most cost effective improvement you can make to get your house ready for the market. You will certainly garner more interest, make the sale more quickly, and ideally, make your money back from the cost of painting.
Image via Sarah Fishburne
The conventional wisdom is that neutral colors are best, but that’s not always the case. We caught up with a couple of pros from the design and real estate worlds to help you hone in on the most important color details. Design expert Sarah Fishburne, the Director of Trend & Design at The Home Depot and the force behind Design Meet Style, surprised and inspired us with her unexpected suggestions on selecting colors and finishes.
Sunny Lake, Assistant Branch Manager of the Coldwell Banker in Bellingham, Wash., also chimed in with direct experience from the marketplace.
Let’s take a look at painting do’s and don’ts from the outside in.
Make a Strong First Impression
Painting for sale is more about cleaning up and updating than it is about style or specific color choices. But most buyers expect to see a fresh coat of paint. “I have seen homes sell that were stark white, as well as ones that offered every color of the rainbow, says Coldwell Banker’s Lake.
Nine times out of 10, the buyers say that the first thing they will do is paint, and those same buyers felt that the home’s value was less because it ‘required work’ before they could live in it.
Image via Sarah Fishburne
While it’s wise to consider a color that the widest possible audience of buyers will approve of, Fishburne reminds sellers that one size does not fit all when it comes to design.
“I don’t believe in a ‘go-to color palette,’ but I do recommend using current colors, inside and out,” she says. “Right now, neutrals are leaning toward taupe—including khaki with light brown and gray undertones—as opposed to a khaki with a gold base. An updated neutral will refresh the house and, because it’s the color that most home builders are using in new home construction, it really will make the home feel newer.”
Lake agrees with Fishburne, noting that because visualizing a color in their new home is hard for some buyers, sellers really need to consider the impact of their choices.
What may be soothing to one can raise the blood pressure of another,” says Lake. A playful color can be overwhelming. A neutral color can be lifeless. Choose your colors wisely!
Don’t Forget the Trim
The trim is actually what makes the rest of that new paint job look so great. Worn, rough trim really ages a house, whereas fresh new trim makes a house pop.
“You may have off-white or cream trim, and just adding a fresh coat of crisp white can quickly update the whole house,” says Fishburne.
Image via Sarah Fishburne
Lake and Fishburne both agree that white trim is a solid, traditional choice, but that doesn’t mean it’s the only choice. The trim color should enhance the color of the walls and tie in with the flooring, but homeowners are not bound to white.
Trim can add a real richness to a home, when done right, says Lake. I love seeing a deep brown or charcoal for interior doors and trim. It feels luxurious and bold without being outrageous. It looks sharp and clean and modern.
Step Back and Take in the Big Picture
Before you make the last call about color, there are a few final considerations.
First, take a look at the elements of the exterior that you can’t change. Make sure to choose an exterior palette that works with the landscaping and hardscaping, as well as the roof and fencing. Then, make sure that the palette works with the other homes in the neighborhood. Buyers want a special home, but not necessarily one that sticks out like a sore thumb.
Image via Sarah Fishburne
If you can do nothing else, however, make sure to give the front door a fresh coat of paint and new hardware, if necessary. Choose a color that is contrasting and complementary at the same time. For neutral exteriors in the beige family, black and red are timeless classics that we all respond to. If you’re working with a gray palette, citrusy greens and blues may be the perfect choice.
Own the Interior
Buyers are very interested in curb appeal, but once they walk through the front door, they remember that inside is where they’ll be spending the majority of their time. Because most of us think our own homes could use a fresh coat of paint, seeing one in the home they’re viewing (your home!) will instantly make them feel like they’re making a step up.
Don’t be afraid to make it special.
“Many people think you should have a ‘blank canvas’ when selling a house,” says Fishburne. “I don’t believe that. Color can really highlight and accentuate design details. If you have beautiful molding details in the dining room, rich navy walls can really show them off.“
Image via Sarah Fishburne
Fishburne does recommend choosing a color palette and sticking to it throughout the house, however: “Color is great—just don’t paint every room a different color if there’s no common thread.”
Choose a palette that will help you accentuate the positives and eliminate the negatives.
Living and Family Rooms
This is where a neutral palette can be a good idea. Buyers walk through houses imagining their own furniture and accessories in the space. Keeping it neutral makes that much easier. Beige, gray or “greige” tones work really well. Choose something on the warmer end of the color spectrum to make the space more inviting.
Image via Sarah Fishburne
Bathroom
The goal here is to enlarge the sense of space, and lighter or cooler colors are a better bet. They make the walls appear to recede, and open up the room. Don’t be afraid to mix in woods and a variety of metals via plumbing, lighting and hardware for added warmth.
Image via Sarah Fishburne
Kitchen
Keep the kitchen light and bright by choosing colors on the pale end of the spectrum. Grays are trending right now, and have the added advantage of creating a crisp, clean look. That said, if you keep it light don’t be afraid to try brighter citrusy colors
Image via Sarah Fishburne
Whatever colors and palettes you choose, Fishburne emphasizes that painting really is crucial to the sale of your home: “Color is a huge influence on the reason we buy anything—and homes are no exception,” she says. “Exterior paint color can be a make-or-break deal for the sale. People seem to know interior paint can be tackled, but the exterior is a larger job that some people aren’t willing to take on. It’s all about the curb appeal.”
Award-winning interior designer Kerrie Kelly is a color-and-palette aficionado who writes on home decor for The Home Depot. The author of the book Home Decor: A Sunset Design Guide, Kerrie provides guidance to homeowners on paint colors and designs. A wide assortment of Home Depot paints, both interior and exterior, can be found on the company’s website.
Jan 2015 Market Update
Jan 2015 Market Update
Key Factors: Inventory and Lending Will Drive 2015 Housing Market
The first set of statistics for 2015 were released by the Honolulu Board of REALTORS® this week showing prices continuing to rise, though the number of closed sales during the month were down compared to January 2014.
When asked what factors are driving the market this year, Kalama Kim, REALTOR® and Principal Broker at Coldwell Banker Pacific Properties, talks about low inventory.
“Even though pending and closed unit sales dropped during the month of January, the low levels of inventory has kept prices moving upward,” Kim says. “Many buyers have offered and lost out on properties to purchase because of the level of competition caused by low inventory. That experience may motivate buyers to make higher, stronger offers on other properties.”
Of course, with fewer homes on the market, the demand from buyers has been very strong.
“Lack of new construction has been a challenge for the last decade and has not kept up with the population growth,” Kim adds. “This leads to fewer options for buyers and less inventory overall.”
Looking forward to other factors that may influence housing on Oahu in 2015?
“The lending industry, including the mortgage interest rate and underwriting flexibility,” says Kim. “If mortgage interest rates stay low and lenders are more lenient in lending money, it is likely it will have a significant positive affect on the housing market.”
Sales of Single Family Homes and Condos | January 2015
Source: Honolulu Board of REALTORS®
Source: Honolulu Board of REALTORS®
The number of single-family homes that closed in October was up with 298 sales closed in October, as compared to 290 in the previous year — up 2.8%. Year-to-date sales volume figures are up 1.8% — meaning that even though 2013 was a record year, 2014 could be even better. Stats show sales volume to be brisk in the condo market as well. For October, 448 condos closed escrow — a 6.9% increase over last year when 419 units closed. And condo sales for the year are also up .2%.In the Ewa Plain, the most recent stats show an astounding 62 single-family homes and 35 condos closed escrow. Twenty-six single-family homes closed in Kailuaand 21 in Makaha.
On the North Shore, 17 homes closed — a two-year record high for the neighborhood. Wahiawa’s 10 closed sales ties the two-year high — as well as a two-year high for median prices in the neighborhood at $550,000.
Median Sales Price of Single Family Homes and Condos as of October 31, 2014Source: Honolulu Board of REALTORS® 
The number of closed sales were down in January as compared to January stats from a year ago. Single-family home closed sales were down 14.6%, from 246 in January 2014 to 210 last month.Condo sales volume was also down 7.7%, from 310 during the first month of 2014 to 286 last month
Pending sales in both categories were down as well. The low inventory of available homes, as has been the case for the past twelve months, will continue to influence the number of closed sales. In some cases, inventories are extremely low — Mililani, Wahiawa, and Kalihi are particularly depleted, according to Kim.
Yet, it may indeed be the lack of inventory, attributing to the lower number of sales, which are pushing prices upward.
This month’s hottest markets include neighborhood’s where sellers received 100% (or more) of their original asking price.Single-family markets that remain hot:
- Ala Moana-Kakaako: 119.6%
- Kaneohe: 100.1%
- North Shore: 100%
- Wahiawa: 101%
- Ewa Plain: 102.5%
- Kailua-Waimanalo: 100.8%
- North Shore: 100%
For a closer look at neighborhood-by-neighborhood trends in your area, or to see which neighborhoods on Oahu are hottest, contact Neaulani a neighborhood specialist at Coldwell Banker Pacific Properties.
