Hawaii Military Realty just sold another home in Waianae, Hawaii Sea Country neighborhood.  This was a short sale and took a total of 90 days from receipt of Purchase Contract until closing date.  The sale closed on Oct 11,  2011.  Need to sell or interested in buying?  Call Hawaii Military Realty, Inc. today!

This is a 3 bedroom, 2.5 bathroom, non-short sale town home located in Ewa Beach, Hawaii.  The home is in excellent condition and has a detached 2 car garage with private backyard, sprinkler system, central air conditioning, ceramic tile flooring on lower level and upgraded carpet and padding on the stairs and 2nd floor.  This home is very clean and is located 25 yards away from bus stop and 2oo yards from Keoneula Elementary School and Seagull School.

This home is eligbile to be purchased using the VA Home Loan Guaranty.  For more information on Homes for Sale in Hawaii, VA Loans in Hawaii or Short Sales in Hawaii, contact 1SG (Ret) David Kucic, Broker/Owner of Hawaii Military Realty, Inc.  Do you need information about a VA Loan and what your entitlements are?  I would be happy to discuss your options in private or I can invite you to one of my VA Seminars on Oahu.

Need a rental property or do you have a rental property that you need a property manager for in Ewa Beach, Hawaii?  Give me a call!

I compiled the following Ewa Beach home sales statistics for Ewa by Gentry and Ocean Pointe.   These statistics were valid as of Sep 30, 2011.

The homes in Ewa by Gentry neighborhoods are just as desirable as or even more desirable than many other neighborhoods on the island of Oahu.  When a property comes on the market in a Ewa by Gentry community, an interested Buyer will make an offer on the property within a few days of listing.  This information is based on the most recent statistics as found on the Honolulu Board of Realtor’s Multiple Listing Service. 

As long as the property being listed is in decent condition and is priced at or near fair market value, there seem to be Buyer’s waiting in the midst to submit an offer to purchase the homes.  Part of the reason for this is the historically low interest rates that have been hovering anywhere in the 3.75% to 4.25% for a 30 year, fixed rate loan.

Ewa by Gentry neighborhoods have had their fair share of short sales, foreclosures and Homeowners Assistance Program (HAP) sales.  However, regardless of which one of these categories that the homes fall into, there are still many interested Buyer’s waiting on homes to hit the market.

Ewa by Gentry single family home most recent statistics (covering approximately the past 6-8 months)

• There are currently 39 homes available for sale.  This includes new homes in Haleakea that are listed on the MLS.  Of these 39 homes, 9 of them are listed as short sale and 4 of them are listed as foreclosures or lender sales.
• There are currently 58 properties that are under contract but have not closed yet.  Of these 58 homes, 37 of them are listed as short sales and 6 of them are listed as foreclosures or lender sales.
• There have been 93 homes that have sold recently.  Of those 93 homes, 33 of them were short sales and 8 of them were foreclosures or lender sales.

For the sake of comparison, these are the statistics for our neighbors in theOcean Pointe community covering the same 6-8 month time period.

• There are currently 5 homes available for sale.  Of these 5 homes, 3 of them are listed as short sales.
• There are currently 19 homes that are under contract but have not closed yet.  Of these 19 homes, 12 of them are listed as short sales and 1 foreclosure or lender sale.
• There have been 45 homes that have sold recently.  Of these 45 homes, 8 of them were short sales and 6 of them were foreclosures or lender sales.

Given the amount of homes in Ewa by Gentry neighborhoods versus Ocean Pointe neighborhoods, these statistics are very similar.

(Information here-in is deemed reliable but not guaranteed)

Short sales in Ewa Beach, Hawaii are still overwhlming the real estate market.  The two main communities in Ewa Beach are Ewa by Gentry and Ocean Pointe.  These are the current statistics on the short sales in those two communities as of August 26, 2011:                                                                                                                

Single Family Current Active Short Sales:    Ewa by Gentry (40)   and Ocean Pointe (14)
(this includes properties
under contract but not yet
closed)

Single Family Homes Closed Short Sales:  Ewa by Gentry (36) and Ocean Pointe (13)

These statistics represent the Oahu real estate activity as reported to the Honolulu Board of Realtors MLS for the past 6-8 months.

For more information on purchasing a short sale in Ewa Beach, Hawaii or to sell your property as a short sale, contact the Certified Distressed Property Experts at Hawaii Military Realty, Inc.

Three bedroom 2.5 bathroom townhouse in Ewa Beach, HI for sale at $335,000.  This is a short sale and currently has ZERO offers as of this date (March 9, 2011).  If you keep missing out on short sales and want to be the first offer, contact me immediately or if you have an agent, have your agent contact me immediately.  Dont miss out because this one will be gone FAST!!!  This property is only 4 years old and is approved for using a Hawaii VA Loan.

I have 3 upcoming listings in Ewa Beach.   If you know Ewa Beach real estate and want to know about properties BEFORE everyone else then this is your chance.  How many times have you wanted to buy a property but by the time you found out about it, the Sellers already had offers on it?  This is especially true on Short Sales in Ewa Beach. 

1.  3 br, 2.5 bathroom, 2 car garage, end unit townhouse located very near the new Ka Makana Subdivision and Hoakalei Country Club in Ewa Beach.  This is a short sale and will probably be listed for around 330-350k. 

2.  2 br, 2 ba, 2 car garage, 2nd story condo (I have 2 of these available).  Located in the ONLY secured, private, gated community known as The Arbors in Ewa Beach.  Both of these units have over 1,000 sf of interior living space and are available immediately.  Both of these properties are Hawaii HAP Sales.   If you are unfamiliar with HAP Sales, please call me.  They are NOT DIFFICULT and DO NOT TAKE NEARLY AS LONG AS HAWAII SHORT SALES TO GET APPROVED.  Both of these Hawaii HAP Sales will be pushed to the top of the pile in the HAP’s Sacramento, California office due to the length of time that is has been since the service members departed Hawaii.

Each unit will be listed at $309,000.

New Upcoming Homes For Sale on Oahu:

1.  3 br, 2.5 bathroom, single family home in great condition.  Over 1,700 sf of interior living space, a 2 car garage and located on the 3rd hole of the Coral Creek Golf Course in Ewa Beach, Hawaii.  Built in 2003.   Priced at $529,900.  This is NOT a short sale and is available immediately.  Approved for VA Loan usage.

2.  1 br, 1 bathroom condo on the 19th floor of Honolulu   Tower in the heart of downtown.  One parking stall, great city and mountain views.  Walk to shopping, restaraunts, work or use the great Oahu public transportion.  Priced at $330,000 fee simple.  This is a short sale.  This building is approved for VA Loan usage and is also pet friendly.

Interested in a short sale on Oahu?  Be prepared to pay fair market value or very close to fair market value for the property.  The banks are not allowing fire sales so don’t think you can “go in low” and have a chance to get the property unless it is something totally undesirable.  In that case, you might have a chance.

If you REALLY want to buy Real Estate in Hawaii as your primary residence then you will need to make a good offer.  If you don’t, you will continue to be disappointed as you miss out on Oahu Short Sales.  The time that you spend screwing around and making offers that wont be acceptable to the lender will make you a loser in the long run.  Interest rates wont stay low forever especially as the economy shows signs of recovery.  Make a good offer on the short sale and get into the house while can take advantage of the great interest rates.

Need help navigating short sales on Oahu, Ewa Beach, Kapolei, Mililani, Honolulu or anywhere else on the island?  Call your short sale experts at RE/MAX Honolulu, David and Tonya Kucic at (808) 218-9338.

Last year, “Roger” and “Crystal” needed to sell their Ewa Beach, Hawaii home because of a military PCS (Permanent Change of Station) move back to the mainland.

Due to the drop in prices from the time they purchased their Ewa Beach Single Family Home until it was time to sell, they found themselves in an upside down position just like many other Hawaii home owners.

They decided to list their home as a Short Sale adding to the already inventory of Short Sales in Ewa Beach.  Simultaneously, they applied for the HAP or Homeowners Assistance Program through the US Army Corps of Engineers.

After listing their home with Team Kucic, of RE/MAX Honolulu as a Short Sale, multiple offers were received, Roger and Crystal selected one offer from a VA Military Buyer in Hawaii and within 45 days, the lender approved the Short Sale and the transaction closed.

As part of the Short Sale Approval, the lender required Roger and Crystal to sign a promissory note saying they would pay back $XXXXX to the lender over a period of years at a 0% interest rate.  Roger and Crystal negotiated with the lender and got the lender to cut the amount by 50% if they paid the amount in full all at once.  The lender agreed.

Initially after the short sale, Roger and Crystals credit dropped 70 points.  After they paid off the agreed upon amount to the lender (50% less than what the lender wanted), the lender reported the transaction as “settled” to the credit bureau and their credit score went back up 40 points. When it was all said and done, they had lost 30 points on their credit score.

The HAPapplication that they submitted was disapproved because they had not seen a decrease of 10% or more on the price of their home.  I don’t know if the HAP folks are looking to Zillow or RealtyTrac to get their info but they (HAP) are WRONG about the 10%!  Their property definitely went down 10% or more.  This is unfortunate because Roger and Crystal met every one of the criteria set forth by the HAP program only to be denied due to HAP obtaining inaccurate information about home values in Ewa Beach.