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        Rental applies to main house with exclusive use of garage and driveway. Central A/C. Small side yard only.

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Housing and the Economic Recovery Part 2

 

Posted in: Blog, Featured Blog Posts, Market Updates Tagged: buying real estate, market update hawaii, Market update oahu, oahu home sales, real estate value, selling real estate

Words of Wisdom from Hawaii’s renowned Economist Paul Brewbaker, Phd, CBE

This is a very informative video shared by Paul Brewbaker, our go to economist for understanding the impact world events have on Hawaii’s local housing market.  As with most information of this nature, there is a time lag to process the data.  Oahu existing home sales prices started drifting off trend as early as 2018, however we didn’t see any collapse in prices as of May 2020. We did see a drop which was precipitated by the crack down on undocumented vacation rentals, but even with Covid-19 we did not see a collapse as of May.  Will be looking forward to Paul’s next briefing, via Zoom of course.

 

Posted in: Blog, Featured Blog Posts, Market Updates Tagged: buying real estate, market update hawaii, Market update oahu, oahu home sales, real estate value, selling real estate

Negotiations Start Now!

Not surprising, there is a lot of thought that goes into buying a property and as soon as you get the tickle in your brain that you might want to consider purchasing a home, buyers need to shift into the negotiation mode ... before walking out your front door or picking up your phone to text your best friend about this new revelation you’ve made.

First of all, Oahu is a small island with a lot of buyers that may be competing for the same inventory.  When you have less than 5 properties any given day that fit your budget and needs, the last thing you want to do is bring any of those properties to the attention of a potential competitor.  Human nature makes us want to make small talk or “talk story” leading to casual comments about anything.  That casual comment can be the start of a telephone chain of communication.  One of my clients lost a bid against 12 other buyers.  He went to Los Angeles for a convention and ended up chatting with an unknown colleague who happened to bid on the same property back on the east coast.  It’s a small world and small talk anywhere except in your own car or house with the windows closed and only with your closest confidants could potentially lead to the loss of your dream house ... a little exaggeration but why chance it?
A totally different scenario is when you visit an open house. Innocent enough, you walk in, make small talk with the realtor at the property.  Technically,  any individual realtor that works at the brokerage firm with the sign in the lawn,  represents the Seller(s) and that realtor is obligated to share any information with the Seller(s) that you shared with them or that they noticed about you.  For example, if you make comments between each other that the kitchen was outdated and the rugs need to be ripped out and the agent overhears you and then you decide to make an offer, either with that agent or with your agent, that agent that overheard you is supposed to share with the Seller(s) that you were the visitor to the open house that mentioned you thought the kitchen was too small and the rugs had to be replaced.  The Seller(s) are very fond of their kitchen as they raised their 5 kids in it and take offense that you think it was too small for you and not good enough the way it is.  No matter how hard the agent tries to tell the Seller(s) that it is nothing personal, there is always a chance the Seller(s) will choose to take it personal making it more difficult for the Seller(s) to accept your offer.
Buying a house in a seller’s market goes without saying, COMPETITIVE.  Whether you’re a competitive person or not, the reality is keep your cards close to your chest and lips tight as Loose Lips Sink Ships and in this case Loose Lips Lose Houses or money ... either way the less said, the better except with your Buyer’s Agent and your lender.  They work for you!
Not surprising, there is a lot of thought that goes into buying a property and as soon as you get the tickle in your brain that you might want to consider purchasing a home, buyers need to shift into the negotiation mode ... before walking out your front door or picking up your phone to text your best friend about this new revelation you’ve made.
First of all, Oahu is a small island with a lot of buyers that may be competing for the same inventory.  When you have less than 5 properties any given day that fit your budget and needs, the last thing you want to do is bring any of those properties to the attention of a potential competitor.  Human nature makes us want to make small talk or “talk story” leading to casual comments about anything.  That casual comment can be the start of a telephone chain of communication.  One of my clients lost a bid against 12 other buyers.  He went to Los Angeles for a convention and ended up chatting with an unknown colleague who happened to bid on the same property back on the east coast.  It’s a small world and small talk anywhere except in your own car or house with the windows closed and only with your closest confidants could potentially lead to the loss of your dream house ... a little exaggeration but why chance it?
A totally different scenario is when you visit an open house. Innocent enough, you walk in, make small talk with the realtor at the property.  Technically,  any individual realtor that works at the brokerage firm with the sign in the lawn,  represents the Seller(s) and that realtor is obligated to share any information with the Seller(s) that you shared with them or that they noticed about you.  For example, if you make comments between each other that the kitchen was outdated and the rugs need to be ripped out and the agent overhears you and then you decide to make an offer, either with that agent or with your agent, that agent that overheard you is supposed to share with the Seller(s) that you were the visitor to the open house that mentioned you thought the kitchen was too small and the rugs had to be replaced.  The Seller(s) are very fond of their kitchen as they raised their 5 kids in it and take offense that you think it was too small for you and not good enough the way it is.  No matter how hard the agent tries to tell the Seller(s) that it is nothing personal, there is always a chance the Seller(s) will choose to take it personal making it more difficult for the Seller(s) to accept your offer.
Buying a house in a seller’s market goes without saying, COMPETITIVE.  Whether you’re a competitive person or not, the reality is keep your cards close to your chest and lips tight as Loose Lips Sink Ships and in this case Loose Lips Lose Houses or money ... either way the less said, the better except with your Buyer’s Agent and your lender.  They work for you!

Posted in: Blog Tagged: buying real estate, negotiation, selling real estate

About Us

“My services are free, my experience & guidance are priceless and my caring is real.”
Lydia is a top-notch real estate professional who won the designation of WEBOR REALTOR of the Year Award for 2008 and earned the distinction of NJAR Million Dollar Sales Club for the years 2000,02,04,05,07,08 the Burgdorff ERA President’s Club in 2001, & the RE/MAX 100% Club 2004-2008. She’s been an Aloha Aina Award nominee every year since 7 years. Her clients included such notables as a well known Sports Illustrated writer & his editor, Broadway stars, corporate VIPS, college professors, CPA’s, investment advisors, first time home buyers, seniors (parents of other clients referred to Lydia), just to name a few. In addition, Lydia was quoted in the New York Times, January 9, 2005 issue in an article titled, ‘Incredible’ Houses, Limited Demand, which discussed the luxury contemporary housing market. Having a diverse professional background including Labor & Delivery, RN in Washington D.C. & Castle Hospital in Kailua; securities regulator and public arbitrator on Wall Street; home renovator and landlord, Lydia has insights and skills that directly benefit her clients throughout a transaction.
Lydia is a graduate of The George Washington University in Washington, D.C. with a BA in Finance. She paid her way through GWU by working night shifts in the Delivery Room as a Registered Nurse in Washington D.C. area hospitals on weekends. Lydia worked on Wall St. auditing brokerage houses and served as a Public Arbitrator. She opened up her brokerage, Sesame Realty, LLC in January 2018. She has earned the following certifications & designations during her career:CRS (Certified Residential Specialist) Graduate Realtor Institute GRI, Certified Military Relocation Professional, Seniors Real Estate Specialist (SRES); Accredited Buyer’s Representative (ABR); REOTrans Platinum Certified; Certified Distressed Property Expert (CDPE); GREEN Certified, Residential Construction Certified (RCC) & is the incoming President for the Hawaii chapter of the Residential Real Estate Council.

 

RAVING FANS

Contact Us

Lydia Ou Bishop
Mailing Address: 590 Farrington Hwy., #524-434
Kapolei, HI 96707
Phone: (808) 628-0331
info@sesamerealty.com
Call, text or send an email anytime and we will get back to you as soon as possible.
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 SESAME REALTY "We Open Doors for You!"