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Look for condos in Honolulu – Rent condos in Honolulu

March 16th, 2011 · Real Estate

In Honolulu you can rent or buy a condo. If you are looking to buy one, you have to be prepared to pay between $100,000 and $1,000,000. The price depends on many factors, like: location, in which year was built, size of the condo. The size, if it’s studio, one, two or three-bedroom condo. It also depends on the views and the unit amenities.

For example a one-bedroom condo can reach $900,000 if it is a luxury condo and a tree bedroom condo can be $250,000 if the conditions are not that high. Anyhow you decide to act it’s important to discuss with a specialist, for you to be sure that you are going to do the best possible transaction.

If you are a tourist and you just look for a condo to rent, the financial aspect is going to be much softer. But the satisfaction is going to be for a short period of time. More exactly the period you decide to rent the condo. In case of rental you have similar two choices. An expensive luxury condo in Honolulu with three bedrooms and three bathrooms, with all the facilities you need. Or you can always opt for a one bedroom, one bathroom condo in Honolulu, with more poor equipment.

Whatever your option is you must know that you can decide on some basic aspect of your future condo in Honolulu, like a minimum price or a maximum price, the number of bedrooms and bathrooms, about the square feet, if you can bring your pet along, if the condo is going to be furnished or not, you can look just for price drops condos or market bargains. All these features should be discussed with a Honolulu real estate agent.

Information’s about condos in Honolulu you can find on the Internet, real estate agencies, and tourist agencies or even in local newspapers.

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The Kahala real estate market

January 6th, 2011 · Real Estate

Downtown Honolulu featuring the Aloha Tower, t...

The Kahala real estate market, a generally upscale component of the larger Honolulu and Oahu housing markets, saw a slight decline in both average price and home sales. According to figures released by the Honolulu Board of Realtors, November marks the second straight month in which the number of Oahu homes sold declined relative to year-over-year levels. The report, which was partially published by Pacific Business News, found that a total of 245 single family homes were sold during November 2010, while 258 were sold during the same time last year. The numbers from last year may have been artificially inflated by the federal housing tax credit, since that portion of the stimulus package was scheduled to expire in the second half of 2009. In terms of median price, a single-family home sold for an average of $585,000, a modest decrease from last year’s reported median of $590,000. Condominiums, on the other hand, fell by a full twenty-five percent to 303 units sold, relative to 402 units sold in November 2009. The median price of condos actually increased compared to year-ago levels, hitting $315,000, $4,500 higher than November 2009.

There were fewer foreclosures in Oahu and Kahala as a whole, according to real estate information service RealtyTrac. The organization reported that the state of Hawaii saw a decrease in foreclosure filings compared to the same time last year. It is important to note that RealtyTrac’s figures include all stages of foreclosure filings, not just foreclosure auctions. This means that RealtyTrac is including “foreclosures” that may not progress past the initial filing, and which may have actually been settled in distressed property or so-called “short sales.” Using RealtyTrac’s methodology, there were 877 foreclosure filings in the state during November 2010, marking a decrease of more than thirty percent from November of 2009. On Oahu in particular, there were 426 foreclosure filings. Although this is the highest figure among all of the islands, Oahu actually had the lowest filing percentage per capita, a product of the much larger population of Oahu. Very few Kahala homes for sale were among the foreclosed properties, as it was not counted among the hotspots of foreclosure activity by RealtyTrac.

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