Getting a home sold is rarely a simple task. This is particularly true when in the midst of a buyer's market, such as the one we are experiencing right now. When the market is saturated with relatively low-cost homes for sale, it is more important than ever to find ways to make a home stand out.

Making a few simple and inexpensive repairs can significantly improve a home owner's chances of getting their home sold quickly. Whether you're selling in Hawaii or Downtown Austin, it's a good idea to check with a local Realtor regarding the most sought after styles and colors within your region.

Repair Floors as Needed

Making repairs to the floors in your home doesn't require tearing everything up and starting over again. Just make sure all the carpeting, tile and grout throughout your home is cleanedm and replace cracked tiles or worn out carpet and vinyl. If you have hardwood floors in your home, you might need to refinish some of the surfaces to restore the luster.

Replace Doors and Windows as Necessary

The condition and quality of your doors and windows is important to potential buyers for two primary reasons: security and energy-efficiency. So it's essential to ensure your doors and windows are working properly and are in good condition. Worn out screens and hardware should be replaced and the area around your doors and windows should be re-caulked as needed.

Add a Fresh Layer of Paint

You'll be amazed by the facelift that a fresh layer of paint can give to your home. In addition to giving your home a clean and fresh look, you can also paint the home in colors that will appeal to the largest number of buyers. Stick with neutral, warm colors and you will give your home a major boost within the market.

Bring the Kitchen and Bathrooms Up-to-Date

Gutting your kitchen and bathrooms is an expensive process, but you don't have to go that far to bring these rooms up-to-date. Simple things such as replacing light figures, hardware and faucets will help create a current look that is sure to attract a larger number of potential buyers. You can buy nice looking stainless steele hardware for your kitchen online for about $2 per drawer pull.  

About The Author - Eric Bramlett is broker and co-owner of One Source Realty, a boutique real estate firm with a focus on Steiner Ranch Austin.

Via Tim O'Leary, Honolulu Home Loans: 

HUD previously had announced that Fannie & Freddie would be discontinuing HIGH BALANCE Loans.  Now Fannie & Freddie have decided otherwise.

The CONFORMING Loan limit will remain at $625,500 and instead of cancelling the HIGH BALANCE, they lowered it.  This is great news for the Oahu housing market, especially in higher markets like Hawaii Kai, Diamond Head, Manoa, and Kailua, where high balance loans are very common.  Prices in these neighborhoods start around $700k and go up to $15 million.

The new loan limits effective 9/1/2011 are:

Interest Rates for today from Honolulu Home Loans:

Please contact Tim for Home Loans in Hawaii.  They give their clients a FREE Home Warranty from American Homeshield!

Some clients of mine recently closed on a house in Ocean pointe for $680,000.  The VA loan at 4.25% with zero closing costs out of pocket has a monthly payment of $3443.50.  Add in the insurance and taxes, and their total payment is $3790.60.

The house they bought is 4 years old, 2900 sqft, with 4 bedrooms, 3 baths.  That model house, similar ot this one shown, is currently for rent  on Craigslist for $3800.

They are already $10/month under the cost of renting, but then subtract the 35% Federal tax deduction they get on their mortgage, and they are several hundred dollars under the cost of rent. 

Why waste your BAH on rent when you can buy this great house for less per month? 

I sat in a signing with a client this week and was reminded that VA loans are assumable by the next person buying the property, if they have VA eligibility.  That means they can apply for and take over the loan that the owner has been paying on, at the same rate.  My clients' rate was 4.25%, fixed for 30 years.  

In a few years, when rates go up to 6%, 7%, or even 10%, that assumable loan will make their house a LOT more affordable than others. 

FHA Loans are also assumbe.  From an FHA website:   You can assume an existing FHA-insured loan, or, if you are the one
deciding to sell, allow a buyer to assume yours. Assuming a loan can be
very beneficial, since the process is streamlined and less expensive
compared to that for a new loan. Also, assuming a loan can often result
in a lower interest rate. The application process consists basically of a
credit check and no property appraisal is required. You must
demonstrate that you have enough income to support the mortgage loan. In
this way, qualifying to assume a loan is similar to the qualification
requirements for a new mortgage loan.

How much difference does it make?  On the average $500,000 loan on Honolulu real estate, with a  4.25% fixed rate, the payment is $2459.70. 

If the rate goes up to 6%, the payment is $2997.75, a difference of  $538.05 a month!  That means the house with the 4.25% rate costs effectivley about the same as one that is $100,000 less, at 6%. 

Now what if the rates go back up to 7%, as they were in 2001? The payment goes up to $3326.51, a difference of  $866.81 a month!

You can see where this is going.  The assumability feature of VA and FHA loans will be a huge advanatage for those sellers in a few years when rates go up, and I don't think anybody doubts they will go up eventually. 

I just typed out a very long answer to someone who emailed me this useful question, so I thought I would blog it. 

Assume you have $150,000 down for your investment property. (That's about the minimum you should have for a rental purchase)

Your $150k is 30% of a $500,000 purchase.  Say you are conservative and you buy a 3 bedroom house on Oahu for $450,000. Yes you can do this, in Ewa Beach especially, and it will look like this one.

$1500/month is the mortgage on about $300k at 4.5%.  You also have taxes of around $100-120/month and insurance of around $120-150/month.  So you are at about $1750 - $1800/month expenses.

The rent on a house like that is around $2500. Here are some rental listings in that price range.

If someone is managing it, they take about 10%, so you have about a $450 month profit on your $150,000. Also you will have repairs, etc., so I would bring that down to about $350/month maybe?

That is a return of about 3% a year on your down payment, if you don't have a lot of vacancies.  Add on top of that the appreciation of property value, and any tax benefits, and you have your long term investment return. If the house goes up just 10% in 10 years, that is an appreciation of $45,000.  Now you have made another 30% on your down payment, annualized to 3%.

Add it all up and you have about a 6% return, not including the equity you gained by paying down the mortgage.

I made this in about 20 minutes on my PC, video shot with my Android phone.

The President announced this week that 10,000 troops will return home from Afghanistan by the end of this year,
and another 23,000 by the end of next summer, a drawdown of the
30,000-troop surge he ordered to fight there in 2009.  

So 30,000 troops will return home from Afghanistan by next year, and that means that thousands of those soldiers from Schofield Army Barracks, Pearl/Hickam, and Kaneohe Bay Marine Corps Base will be returning to Hawaii.  And since there is already a wait list for homes on the military bases here, that means they and their families will have to rent or buy a house.  Either way, it's good for Oahu real estate. 

There is already a shortage of homes for sale on Oahu, and if even 200 more military families buy a house (like this one from Ewa) next year as a result of the drawdown, it will have a huge impact on prices, particularly in Ewa Beach, Kapolei, Royal Kunia, Makakilo, and Mililani.   

Whether you agree with the policy or not, the drawdown will be good for Oahu real estate, unless of course they get shipped off to some other new war.  But that seems unlikely in an election year. 

On an island with only about 900,000 people, the addition of a few thousand families is a huge economic impact. 

This very large, beautiful house was just listed today. With 8 bedrooms, 6 bathrooms, and nearly 4000 sqft under roof, it would be best used as a multigenerational home. There is a new full kitchen along with 2 wetbars, all with very nice counters and cabinets. 

The owner just put in new bamboo floors, granite counters, and fresh paint.  The large family room has room for everyone, and the extra large 2 car garage has plenty of room for their toys.  

MLS 1107732 , $1.777 million fee simple.  We will be having our first open this Sunday 2-5pm.  

More pictures can be seen HERE

Manoa is located in the heart of Honolulu, centered around the University of Hawaii.  Just minutes from Downtown Honolulu, and only 20 minutes from Honolulu Airport, Manoa is one of the most desirable neighborhoods in Hawaii.   The frequent rain keeps everything lush and green. This large, remodeled house is ready to be moved into!

After nearly 5 months on the market, we have lowered the price of this beautiful little Hawaii Kai home to $750,000. At just over 1400sqft, it's not large, but it sits on half an acre of land, and has been beautifully remodeled with travertine tile, silestone counters, and this brand new decking in the back. 

We started out at $846,000, and had plenty of interest, and at one point were in escrow when the price was $799k.  That buyer canceled due to personal issues. 

Now this is an opportunity to get a house in Hawaii Kai for a great price.  For $750,000, most houses in Hawaii Kai are totally junk. Usually they need a renovation just to move in, but this house is in great shape and newly remodeled.  

I'm certain it will be sold this week, after many showings this past weekend. 

Check out this picture taken from the living room, through the kitchen and into the family room.  This house has it all and it priced WAY TOO LOW!   I can't believe it hasn't sold yet !