Archive for the ‘Real estate news’ category

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Existing-home sales show strong gain in December

Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 6.5 percent to a seasonally adjusted annual rate1 of 4.74 million units in December from a downwardly revised pace of 4.45 million [...]

Published by on January 27th, 2009 at 04:01 pm
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Ward Center master plan approved

Source:  Honolulu Advertiser
General Growth has been able to their master plan for their Ward Center project approved.  It is to redevelop some 60 acres.  General Growth which also owns Ala Moana Center has really been going all out to create a wonderful shopping experience for their customers.
The approval by the Hawai’i Community Development Authority followed [...]

Published by on January 17th, 2009 at 03:01 pm
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Many home buyers need higher loan limits, upper end stalls

Source:  National Association of Realtors
The drop in mortgage loan limits for conventional financing at the end of 2008 is hurting home sales and trade-up activity in higher price ranges across the country, according to the National Association of Realtors®.
The latest existing-home sales data shows transactions under $400,000 are 3 percent below a year ago. However, [...]

Published by on January 15th, 2009 at 04:01 pm
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Ernie Els opens new golf course on Oahu

Source:  Pacific Business News
Ernie Els formally opened his first golf course in Hawaii Monday, saying he’d like to see a world-class tournament played there within three or four years.
“I would love to see a golf tournament played here,” said the South African pro, who had just come off a sixth-place tie over the weekend in [...]

Published by on January 13th, 2009 at 09:01 pm
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Honolulu could soon be named the safest city in the U.S.

Source:  Honolulu Advertiser
With crime rates falling off at a fast pace this soon could be a reality especially with the crime declining by a whopping 22%.
Honolulu appears headed toward defending its title as the nation’s safest major city after FBI crime statistics released yesterday indicate a 22 percent decline in crime through the first six [...]

Published by on January 13th, 2009 at 01:01 pm
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Banks must disclose how TARP money is used

Source:  Pacific Business News
The Federal Deposit Insurance Corporation is demanding banks receiving money from the Troubled Assets Relief Program or taking capital injections from the Capital Purchase Program show how the money is being used.
The FDIC told banks Monday they have to track their portion of the $700 billion emergency funding approved in the fall [...]

Published by on January 12th, 2009 at 03:01 pm
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Central Pacific Bank receive TARP

source:  Pacific Business News
Us. Department of the Treasury officially took their stake in Central Pacific Bank int he form of $135 million of senior prefered stock.  The hope is that this will stabilze their balance sheet to allow the bank to makes more loans here in Hawaii.
Central Pacific Financial Corp. on Friday sold 135,000 shares [...]

Published by on January 12th, 2009 at 03:01 pm

Maui home sales significantly down in 2008

Source:  Pacific Business News
The single family home market on the neighbor island continues to fair worse than Oahu.  The number of sales is also markedly off from 2007.
Sales of homes in Maui County were down by more than 30 percent in December, capping off a year in which sales of both single-family homes and [...]

Published by on January 9th, 2009 at 02:01 pm

Kauai home sales down 30%

Source:  Pacific Business News
The neighbor island seem to be more effected by the down turn in real estate.  The median sales prices of single family are substantially down from their highs in 2006.
The median price of a single-family home on Kauai in December was $495,000, a 21 percent drop from December 2007. However, that [...]

Published by on January 5th, 2009 at 06:01 pm
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Allure Waikiki puts adjoining lot on the market for $5 million

Source: pacific business news The developers of a luxury high-rise condominium in Waikiki have subdivided the property and put a 16,200-square-foot pad site on the market. The Allure Waikiki condos, meanwhile, is trying a different tack to boost sales in the slumping economy. The land adjacent to the site of the 35-story condominium tower under [...]

Published by on December 31st, 2008 at 04:12 pm
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