Bob's Blog

How can investors, even mere landlords, get benefits from Obama plan?

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Sat, 28 Nov 2009 23:00:28 -0600

Here in Hawaii, prices have not plummeted as they have across the mainland states, but many investors have lost their equity and now not only find themselves upside down mortgage-wise, but with significant negative cash flow as well. I've heard there is hope for these folks, but have not found a source for further information. Does anyone know if there is a portion of the stimulus package earmarked for these real estate owners and how would one go about getting more information?

Thanks,

Bob

"Let the Great World Spin"

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Fri, 27 Nov 2009 11:08:05 -0600

I 'woke this morning the feeling that great things are yet to come in this post-recession world and then heard about a new book by Colin McCloud, "Let the Great World Spin." You know, sometimes we get so caught-up in the fast-paced intricacies of our immediate concerns, concerns that are dictated by all the terrible news we are hearing and the pressures from the world around us that we are feeling, that we find we have no time to direct our own activities in the more positive way we know, deep down, we should be heading. This is why the message I got this morning from this minor concurrence of inputs this morning was so powerful: you see great things can only come if we "Let the Great World Spin" in much the same way as Colin McCloud suggests, and pursue our own goals without the noise and pressure of the outside world!

One could see this in, say, one's practice of real estate, if we can just ignore for a moment the horrible reports of foreclosure and recession and unemployment and begin anew to expand our contact with those buyers and sellers we know need our help with their real estate needs! There are many "lights at the end of the tunnel" if we can but turn down the noise and blinding glare of the news reports all around us and just see them! Home prices are the best they have been in years for our buyers out there and buyers are just beginning to come flooding back into the market both because of these bargains and because of incentives (mainly government right now, but soon to be lenders, as well), and this is good for those who must sell in the near term!

So it looks to me like opportunity is opening up in our industry and I, for one, want to take it by enlarging my sphere of contacts who will eventually call on me to help them understand how to use this time to make the moves that have been pent up for the past 3 or more years and move on toward their real dreams and the future that will now be open to them. Let's help our clients and prospects to realize their dreams. There is nothing in the way but those obstacles we put there, so help them see the way to their desires... these dreams are really open to them now with great opportunities, if we can only help them see them!

Give thanks for these opportunities and the lessons we have learned about how to maximize them over these past few years of struggles, give the gifts of support our clients so badly need, and open up the future to them and to ourselves by taking action now. Feel the enlightenment and spread it to all you know! Now is the time!

Aloha,

WaikikiBob

Search Engine Optimization Project

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Fri, 02 May 2008 01:40:02 -0500

Some of you may remember when I wrote the following about my Search Engine Optimization Project:

Aloha Folks, now that the website name has been changed (www.Hawaii-EstatesforLife.com) and the requested features (blog, newsletter and specials) have been added, we are now proceeding with the search engine optimization project on my website. As you may recall, I started this blog to share my experience with search engine optimization (at fairly great cost) and the guarantee of 60 leads from my website per month for 3 months. Well, we start today and we shall see what happens. While the website updates may not be fully functional (menu buttons still need to be added), you can access the site at http://www.hawaii-estatesforlife.com to see what I'm working with. The optimization is mostly behind the scenes, but I will let you know the stats as we go along. The guarantee is that if the campaign produces less han 60 leads in a given month then either I can choose to be reimbursed proportionately for the deficit leads or they will make them up in the following month. At this point, I will probably opt for the reimbursement because I want to see what these folks can do on a month to month basis before conntinuing. Now, we all know what we can do with 60 leads in a month! We would probably end up sharing them with some of our trusted colleagues since that is a pretty big school of fish to pursue. Of course, I will be contacting each and every one of these leads as soon as I get notification, but as things develop, we will see how many I can actually handle, especially if they come in as tailored to my preferred clientelle as has been indicated they will be. Wish me luck, folks! More later! Aloha, Bob

____________________________________________________________________________________________________________

Well I must report that the project actually came to an abrupt end after 45 days of a paid up 90 day run. As you can see from the above post, I was promised 60 leads per month and I actually was receiving the promised lead volume for the 45 days (just over 90 leads for the month and a half), but then the provider pulled the plug on my leads and I have been unable to get any response from them since that time! If anyone has any knowledge of how I can contact IDX Direct, the provider, please let me know. In the meantime, I would suggest being cautious in dealing with this provider or any other provider of Search Engine Optimization. I am out a good deal of money here... and I am bitter!

Aloha,

Bob

Mele Kalikimaka!

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Sun, 16 Dec 2007 16:25:42 -0600

Real Estate opportunities abound!

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Thu, 13 Dec 2007 17:57:07 -0600

With all the talk about a housing "bubble" with falling home sales and home values and now the subprime debacle, some of us may be losing sight of the abundant opportunities that this offers for realtors and buyers, alike. In fact these opportunities extend to seller, as well, as home prices have risen as much as 100% or more over the past 5 or 6 years and with most owners and investors leveraged to the max, profit when selling should be much more than 100%; could even be as much as 1000% in some cases, even with prices dropping a bit! Take the case of a $10,000 investment in a $100,000 home in 2002. This home should have appreciated to as much as $200,000 in the five years since its purchase, with nearly tax-free payments and a home to live in over that time, or rental income to cover those payment if you are an investor. Now when you go to sell it, you will reap $190,000 profit (less the costs of the sale, perhaps $12,000 to $15,000) for a net profit of, perhaps, $175,000, which is over 1,700% on that $10,000 investment for today's seller! Certainly not something to cry over! Of course, the real problem is for those who bought a year or two ago, at the height of the appreciation, with an adjustable rate mortgage and not enough increase in household income to carry the increase in mortgage payment. One does have to have some carrying ability at times to make real estate work as an investment, but one should know that going in. Anyway, my point is that we should not lose heart with the onslaught of headlines and we should advise our clients likewise! The sky is not falling... just a few flakes of snow in the air! Aloha, Bob Farrell (RA) RSPS, TRC, MS, RECS. bob.farrell@hawaiimoves.com http://www.WaikikiBob.com

Real Estate Conditions continue sideways in Honolulu

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Thu, 18 Oct 2007 22:51:30 -0500

According to the Honolulu Board of Realtors, the median price of homes and condos has continued to show little movement over the past year. While there have been minor fluctuations, the price of single family homes has risen only 2.3% over this time last year, while condo prices have done a bit better, rising 4.8% over the third quarter of 2006, according to figures published by the Honolulu Board of Realtors this past Monday. This puts the median price of a single family home here at $649,000, while condos are at $330,000 island wide.

Of course, individual areas of the island have done much better or much worse than the island as a whole. The highest priced neighborhood is Diamond Head, at $1,080,000, with Hawaii Kai close behind at $835,000 for single family homes. Condos in these exclusive areas are $469,000 and $520,000 respectively, when you can find one. The lowest priced homes can be found on the leeward coast, where single family homes stand at $387,000 and condos at $187,000 for median prices. In the metro area (Town) of Honolulu, single family homes cost $705,500 and $330,000, closer to the island average.

If you are interested in looking at individual home prices throughout Oahu (Honolulu), take a look on my website, www.Hawaii-EstatesforLife.com for more details. You can reach me by phone at (808) 672-0100.

All Aboard for the AMPI Cruise!

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Sun, 09 Sep 2007 16:16:30 -0500

How about RE Classes aboard a cruise along the West Coast of Mexico?

Have any of you thought about taking classes to improve your standing as a Realtor? Well, classes can be boooooring, as you know. But how about taking those classes aboard a cruise down the west coast of Mexico? With stops in Cabo, Puerto Vallarta and Mazatlan? Seems like just the ticket to me, and I am going! Why not join me on the cruise and share some fun times while we learn more about real estate in Latin America?

There will be many course opportunities, including these, "Financial Analysis for Commercial Investment Real Estate" and "Lease versus Own".

Find out more about this magnificent opportunity at:
http://www.realtor.org/cipshome.nsf/pages/ampi2007

Aloha,
Bob

Bob Farrell (RA) RSPS, MS, RECS
Century 21 All Islands - Waikiki, Hawaii

Update on the Search Engine Optimization project

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Thu, 06 Sep 2007 16:10:43 -0500

Project Search Engine Optimization (continued)

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Tue, 21 Aug 2007 00:14:25 -0500

I am proceeding with search engine optimization of my website, with the website now changed to http://www.WaikikiBob.com to avoid any fallout from the NAR copyright regarding the word "Realtor." I thought long and hard about this, but in the end I can only agree that if I proceeded with www.YourWaikikiRealtor.com and the NAR decided to enforce their copyright of the word, Realtor, I would lose all the time, effort and money I had put into this site when I then changed the name. So, to avoid this, I will use the new name, http://www.WaikikiBob.com instead.

However, if you are looking for my site at this time, it remains http://www.YourWaikikiRealtor.com. More on this later!

Aloha,

Bob

Project Search Engine Optimization (continued)

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Tue, 21 Aug 2007 00:08:49 -0500

However, if you are looking for my site at this time, it remains http://www.YourWaikikiRealtor.com. More on this later!

Aloha,

Bob

Project Search Engine Optimization

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Wed, 18 Jul 2007 21:18:31 -0500

Aloha All,

Okay, I bit the bullet and am about to take the plunge into Search Engine Optimization (SEO). I am working with a well-known company that is currently hosting my website, http://www.YourWaikikiRealtor.com, and the price is not insignificant, but the rewards promised (and guaranteed, I might add) seem really great! If you have an interest in empowering your own website and an interest in SEO, I suggest you follow along and see how my site fares in this, one of the newest and (I'm told) one of the more worthwhile tracks toward expanding one's real estate business. Oh, and by the way, I am also adding blogging to my website so you can also go there to follow my progress.

Aloha and good fortunes to you all!
Bob

The Allure Waikiki Project

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Tue, 17 Jul 2007 04:17:35 -0500

Okay, you have all been waiting for a new project in Waikiki, well the Allure project is the latest venture in this historic and tried and true resort community. With floorplans from 833 to 1,216 s/f, this is not your usual island condo! These are resort homes and condos any family would be happy to stay in for a month or more! This is a new development in Waikiki where history blends with the contemporary! Drop me an e-mail at bob@yourwaikikirealtor.com for more information on this fabulous new development in Waikiki before it has sold out! Or visit my website, http://www.YourWaikikiRealtor.com for other opportunities in this fabulous world class resort area! Your Waikiki Realtor, Bob Farrell (RA) RSPS, MS, RECS

The Current Real Estate Market

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Mon, 16 Jul 2007 16:42:53 -0500

The National Association of Realtors has come out with their latest report on the current state of the real estate market this week and it looks like over all, nationally, we are now in a definite Buyers' Market. There is a wide selection of homes available on the market in many areas, and a certain weakness in selling prices, allowing Buyers to find a good bargain, especially through negotiation.

The situation is quite the same in Honolulu, with listings up dramatically from a couple of years ago, but prices remain fairly level and listings are not remaining on the books quite as long this year as in 2006.

The outlook for real estate prices is good, however, both nationally and in Honolulu, the NAR states, as profit margins come under pressure and builders limit new construction into 2008. With these conditions in mind, NAR estimates that home prices nationally are likely to rise 1.8 percent next year after a 1.4 percent decline this year.

* Statistics are from the NAR Newsletter dated July 16, 2007.

Foreclosures

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Mon, 16 Jul 2007 16:28:32 -0500

Clients often ask me about foreclosures: are they really cheaper than other comparable listings? are they easy to purchase? can they be purchased with a normal 30 year fixed loan?

Of course I want to help these clients, but I have some questions, myself: where can I find the best priced foreclosures? if I help my client find a good deal, will I be able to collect my commission on foreclosure sales? how can I locate properties that are pre-foreclosure?

There does not seem to be any reliable source for foreclosure information. For instance, I can find only two foreclosures on the MLS list for Honolulu! Is it best to approach local banks and lending institutions for foreclosures and/or pending foreclosures on their books? And, if I do write an offer on a foreclosure or pre-foreclosure, will the bank be willing to wait out the completion of the purchase?

I would appreciate any information anyone out there might have on this topic.

Mahalo!

Bob

Hawaii State Board of Education Charter School Review Panel

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Tue, 10 Jul 2007 04:24:45 -0500

Only one more day for you to apply to the Hawaii State Board of Education (BOE) to be the real estate person on the state's Charter School review panel. This panel was established by the State Legislature in 2007 to approve or deny new charter school applications, evaluate charter schools and appoint and evaluate the executive director of the charter school administrative office. This new law also provides that one of the panel members be someone with a background in real estate.

If you would like to be a part of this Charter School Review Panel, send your resume to Denise Motohiro at the HAR Office by July 11, 2007. Email dmotohiro@hawaiirealtors.com, or fax to (808) 737-4977. The HAR will forward your resume to the BOE for interviews and action. Find more information on this opportunity here.

Honolulu statistics look good for the first quarter of 2007

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Sat, 07 Jul 2007 17:44:35 -0500

The Honolulu Board of Realtors® reports* that "During the first quarter, the number of sales declined from last year and the median prices were stable. The total dollar volume of sales was $1.187 billion in the first quarter, a decrease of $153 million, or 11.4 percent, from the $1.340 billion in sales achieved in the same quarter last year." The HBR also reported that while the median price of single family homes on Oahu decreased 0.8% from $625,000 to $620,000 from the first quarter of 2006 to the first quarter of 2007, the median price of condos actually increased 3.6% from $309,000 to $320,000 in the same period. If you are interested in seeing what is available in Honolulu, current listings can be viewed on my website. Please do not hesitate to contact me if you have any questions about Honolulu Real Estate. * Source: The Honolulu Board of REALTORS®

Waikiki is the hot spot for Mainland and Canadian visitors and investors!

Bob Farrell, RA, MS, RSPS, TRC, RECS (ERA Signature Homes) — Sat, 07 Jul 2007 13:42:01 -0500

Waikiki, that wonderful hotspot for Hawaii visitors!

As one of the primary contacts for visitors to our islands' main tourist vacation spots, Waikiki, I would be happy to help anyone out there with their clients' desires to purchase second home or investment property in the islands of Hawaii, or especially in Waikiki. I also have a top of the line condo for rent for those who would like a starting point for either their property search or just for a fun vacation.

Visit my real estate site to search listings on Oahu, in Honolulu or Waikiki.

Visit my rental site to view and/or reserve your time in my beautiful Waikiki Island View Condo.

Aloha,

Bob Farrell, RA, MS, RSPS, RECS