How do you justify the price on maintenance fee? ハワイコンドミニアムのメインテナンスフィーの料金の定め方

As condominium buyers and owners, one thing that concerns most can be its maintenance fee.
Typically, it's said that well-managed building has appropriate rate on maintenance fee. It doesn't scare people who own the units or who are thinking of buying the units.
ハワイのコンドミニアムを買われる方又は所有の方の心配事の一つがメンテナンスフィー（所有者に別途にかかる維持費）。
メインテナンスフィーを決める要因はどれだけうまくビルの管理経営ができているかできまります。

Even if it's priced right, some condominiums are not desired due to high maintenance fee, which can become so close to monthly mortgage payment over time.
コンドミニアムのユニット自体の値段が適切であっても、メインテナンスフィーが高いと住宅ローンも含め月々の支払いがとても高くなってしまうことがあります。

On the other hand, some condominiums are very well-managed and keep the maintenance fee so low. I saw a unit with $300 range maintenance fee, which includes all utilities(Electric, AC, Water, Sewer, Cable)! This unit particularly has washer and dryer inside. So, you see how much possibly you save money on utility bills?
そんな中でも、管理経営が良いビルではメインテナンスフィーが比較的低く、ユニットによってはユーティリティー（電気代など）をメインテナンスフィーに含んでいるものもあります。
私が見てきたユニットの中で、メインテナンスの料金が電気代とケーブル代を含みユニットの中に洗濯機と乾燥機付きなんていうのもあります。

This condominium unit had multiple offers from buyers in a few days after it became available on the market. For a money saver on maintenance fee(Good purchase in general), it's critical to choose right Realtor to be on a look out for you.
このようなコンドミニアムはやはり人気があるのでたくさんの買いのオファーが来ているようですが、買い手の目で所有してから、お金がセーブできるような物件探しを手伝ってくれる不動産屋さんを選ぶのは大切ですね。

(Source: MLS listing)



Disclaimer: this content has nothing to do with the pictured building.





For buyers, it's recommended to make a list on what you would like to have in the building. Recreation room, Guest parking, Pool, Sauna, Gym, Resident Manager, Security Guard...and so on. Then, you can tell why maintenance fee is priced at certain amount.
Another thing is to get ready to write an offer when you find a "Good Deal" unit through your Realtor, which would be to get pre-qualified for a purchase in advance.
買い手としては、そのコンドミニアムのビルの中に何があって欲しいかリストを作るといいでしょう。（レクリエーションルーム、プール、サウナ、ジム、管理人、セキュリティーガードなど）
基本的にはたくさんアメニティー（共有のプールやサウナなど）があるほどメインテナンスフィーは高くなりますね。

そしてその中でいわゆる「掘り出し物の物件」を不動産屋を通して見つけたときには、すでに買いのオファーが出せるように、銀行からいくらローンが出してもらえるかの見積もりの紙を持っていたほうがいいでしょうね。

In Hawaii's Real Estate Market, there is always a change even if it's said there is low inventory(less homes with more buyers). Just like anything else we do in our life, continuous study will get us ready when the time comes. Either it's to be ready to be a buyer/seller/investor, let's start getting ready TODAY for your future.
現在のハワイの不動産状況は、買い手の方が売り手より多いため、「売り手市場」と呼ばれていますが、不動産だけでなく何をするにも将来に向けての準備が大切です。たとえ１年後２年後あるいは１０年後に家を持ちたい場合でも、今から少しずつ情報を学んでいくことはとてもためになるでしょう。

Hawaii Home Ownership Center offers buyer's education for FREE
Ask me for more details: hitomi@ipropertieshawaii.com

ハワイにバケーションハウス、投資物件、ご自分用の住宅をお探しの方、また、物件をお持ちで売りに出したいという方もお気軽に日本語でご相談ください。メールアドレスはこちら：hitomi@iproeprteishawaii.com

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Featured newer condo: Pacifica Honolulu

Today, I am featuring this still new kaka'ako condominium, Pacifica Honolulu.

(Source: pacificahonolulu.com)

Pacifica Honolulu is built in 2011. Formerly known as Moana Vista, which was foreclosed and auctioned to be completely rebuilt by San Diego based developer, Oliver McMillan.

It is already attractive for its location, but the entertainment that this condominium can offer is simply amazing. Downstairs has popular Japanese Restaurant, Doraku. You can dine inside or outside. If you would like to just have a coffee and relax, you can go to the next door cafeteria, Blue Tree.

(Source: pafificahonolulu.com)

Inside amenities suggest total life style with very stylish and modern design. It has literally everything you can think of. Pool(of course), Jacuzzi, Lounging area, BBQ area, lawn area(maybe you can do yoga or picnic?), another BBQ area, Dining/Party area, Sauna, and another Lounging area! Then, Fitness room and Theater that you can have a movie night without driving to go to movie theater. As I passed through, everybody was so nice and friendly(That actually gives more points to this condo too!).

As popular as this condominium might be, the price is on the rise, yet still affordable. Available units are limited since this condominium is managed right and have a relatively lower maintenance fee considering all the features it has.

With so many different choices in Honolulu real estate condominium market, if you are looking for something that creates more than a home with all the entertainment conveniently located inside of the building, this condo is going to be a great choice.

Selling or Buying a home?
We offer a free buyer/seller consultation. E-mail me at hitomi@ipropertieshawaii.com

Chip in to support Hawaii Home Ownership Center! HHOC's 6th Annual Golf Tournament!

Hawaii Home Ownership Center is a registered non-profit organization which focuses on homebuyer education and foreclosure prevention in Hawaii. By year-end 2012, HHOC had helped over 950 families in becoming homeowners and/or with refinancing their homes.

Come out to be a part of this fun event on August 8th, 2013 at Peal Country Club!
For more details: www.hihomeownership.org

1st time home buyer? Ask me how I can save your money to get your home through down payment assistant programs and government grants! Consultation is always FREE! hitomi@ipropertieshawaii.com

Waihonua at Kewalo (Still available!)

With lots of developments going on, my broker and I visited another semi-luxury priced condo with true luxury project: Waihonua at Kewalo. Only one block away from Ala Moana Shopping Mall, walking distance to Ala Moana Beach, and easy H1 access. We have known this project for a while(Sales started end of 2011). They have a gorgeous model to show how it would look like when it is completed.

 

There has been already a couple of new condos around it, yet it is successfully designed to have views from every units according to the agent at Waihonua Sales Gallery.

When it will be actually ready? It's scheduled to be ready in April in 2014. Out of 341units, only 33units are available now. That also includes the lowest priced 2bed/2bath unit($693,280). All units left are more than 1000 sq.ft, comes with all the amenities(Gym, Pool, Theater, Club room, Visitor guest suites, Storage, BBQ area, Outdoor lounge, Spa). Now that I think about it, it's almost like living in a resort hotel. Only difference is that you won't be staying there for a day or two. You will be LIVING there everyday waking up to the gorgesou view! Another great thing about this project is that because this has been in production already, you won't wait too long to move in. This is another way of taking advantage of low interest rate on home loans.

First time home buyers?
We, iPropertiesHawaii offer buyer/seller consultation for free, contact me at hitomi@ipropertieshawawaii.com

Hawaii Real Estate Updates: Condominium Sales are HOT!

Condominium market in Honolulu is pretty notorious. There has been lots of new projects in town and lots of them had been sold out as soon as they became available on the market.

The latest statistics from Honolulu Board of Realtors® shows Closed Sale on Condominiums of 585 for March 2013, which is jumped from 279 for February 2013. This is partially because of the new affordable condominium, Holomua, which is very conveniently located in town (Easy H1 access, within a mile, Walmart, Ala Moana Shopping Mall, 10 minutes away from Waikiki)

Newly built Affordable Condo project: Holomua

(Source: MLS listing)

How fast all the condominiums are being sold? Well, it's 15 days! This DOM(Days on Market) average was also triggered by Holomua units sales. Resale only condo DOM was 25 days.
But still, only less than a month!

Either you are a future buyer or seller, you will be competing with other buyers or sellers. As a buyer, it is critical to get pre-qualified and make sure you are planning ahead before even start going to open houses. As a seller, it is highly recommended to start pricing right taking everything into consideration(Condition of the property, how fast it needs to be sold, and so on). Even if inventory in housing market is currently low, wrongly priced properties still stay in the market longer, or eventually have to be priced lower. In the worst scenario, no sale.

It all starts with what you would like to reach as a life goal. It is a big purchase, let's plan ahead to make the right move for YOU.

We are providing a free counseling session for buyer/seller. We can assist you step by step through the buying/selling process. Please feel free to contact us: hitomi@ipropertieshawaii.com

Hawaii Real Estate Update: How to Take Advantage of Down Payment Assistance Programs.

Hawaii Real Estate Market has been recovering with on-going low interest rate on home loans.
How would you take advantage of this market and lock the low interest rate on your first home?If you are veterans, you should definitely take advanatge of VA loan with 0% down.
Many people might be finding themselves and say, "Yes, but not ready for down payment yet". What if you can put down low down payment, let's say, 3%? Is it doable? Conventional loan requires 20% down. Let's say, you find a home for $300,000. 20% down is $60,000 already. Lots of people find that pretty challenging. Hawaii Home Ownership Center is a non-profit organization who helps the 1st time home owner with education and offers down payment assistance programs.

Now, with 3% down, you put down $9000, and balance($51,000) would be like a 2nd mortgage with low interest rate(let's hope it will stay that way).
Because this program will help you to put down total of 20%, it's still the same as the person who puts down 20%. That means...no mortage insurance you would have to pay. Usually Banks would ask you to pay PMI(Purchase Mortgage Insurance) with less than 20% down. That's another $300-$500 a month in addition to monthly mortgage, maintenance fee, association fee, and etc. Because there are more condominum buyers than single home houses in town in Honolulu, that's the reality to really think about how you can save money on something you wouldn't have to pay.

Our agency iProperties Hawaii supports this Hawaii Home Ownership Center as well as other non-profit organizations. contact me for more info on this programs offered by HHOC.
hitomi@iproeprtieshawaii.com