Here's the News at a Glance

PRSRT STD Volume 20, Number 2 1585 Kapiolani Blvd. ECRWSS Suite 1040 Here’s the News at a Glance U.S. POSTAGE Honolulu, Hawaii 96814 PAID EDDM Retail Oahu median home resale price hits high Hot housing market fuels rise in home equity of $883K – Honolulu Star-Advertiser 3/28/21 – “14.7% increase over January 2020 ($770,000)” A Startling Low Inventory of Homes – Honolulu Star-Advertiser 2/7/21 – Honolulu Star-Advertiser 3/28/21 Short-term rental operators moving out of U.S. home prices soared in January state market – “increased at the fastest rate in seven years” for – “declined by as much as half, compared with Case-Schiller’s 20-city home price index *****************ECRWSS**** last year” – Honolulu Star-Advertiser 3/31/21 – Honolulu Star-Advertiser 2/8/21 Home prices on Oahu surge closer to $1M median Tier 3 on Thursday – Honolulu Star-Advertiser 4/7/21 – “relaxation in rules and restrictions” Local – Honolulu Star-Advertiser 2/24/21 OHA plows ahead with waterfront development Postal Customer plans despite opposition Next Ward Village condo tower about to rise – “The Legislature previously outlawed residential – Victoria Place with plans for 349 units at average development in Kakaako Makai” prices over $1M – Honolulu Star-Advertiser 4/16/21 – Honolulu Star-Advertiser 3/1/21 Home prices soar in tight inventory market Sue Ann SH Lee Hawaii’s economic damage assessment improves – Honolulu Star-Advertiser 4/18/21 Realtor – DBEDT projects GDP will rise 2.7% in 2021, 3.3 RB-20246 in 2022 and 2.3% in 2023 Slow condo price growth could help – Honolulu Star-Advertiser 3/2/21 first-time buyers 1585 Kapiolani Boulevard – “condo pricing was soft in 2020” Suite 1040 Proposed OHA towers in Kakaako gain ground in – Honolulu Star-Advertiser 4/25/21 Honolulu, Hawaii 96814 state Senate – may allow residential high rises on two parcels on Council considers a more progressive (808) 722-9581 (Cellular) property tax E-mail: [email protected] Ala Moana Blvd Information herein is deemed reliable but not guaranteed. If your property is currently listed – “bill would create five tiers for Honolulu county with a real estate broker, please disregard. It is not our intention to solicit the offerings of Website: SueAnnLee.com – Honolulu Star-Advertiser 3/4/21 other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing ForwardRealty.com/SueAnn investment residences” Opportunity. Expanding Kalaeloa – Honolulu Star-Advertiser 4/26/21 – Gentry Homes has plans for 389 homes on 30 acres priced between mid $500,000 and high $700,000 Sellers are facing a fast-moving market Sue Ann S.H. Lee, Realtor – Honolulu Star-Advertiser 3/4/21 – Honolulu Star-Advertiser 5/2/21 Eviction moratorium to be phased out Sue Ann is a full time Realtor with Forward Realty, an independent real estate firm on Oahu. Sue Ann served as 2017 State board considers 2 more towers at Ward Village – “landlords could remove tenants if alternative President of the Honolulu Board of Realtors, a 6500+ member trade association. She is a member of the Residential Real – Ulana Ward Village with 697 units and The Park actions do not work out” Estate Council, the Institute for Luxury Home Marketing, the Hawaii Society of Business Professionals, the Honolulu Ward Village with 546 luxury condos – Honolulu Star-Advertiser 5/3/21 Board of REALTORS and the National Association of Realtors. She served as Director of the following organizations: – Honolulu Star-Advertiser 3/4/21 New homes cost $36,000 more because of an epic National Association of Realtors (2017, 2018), Honolulu Board of Realtors (2013-2018), Hawaii Association of Realtors shortage of lumber (2014-2018) and HiCentral MLS (2016-2018). Sue Ann also served as Director-at-Large, Secretary and Education Optimism rises again for Hawaii economy – UH Economic Research Organization predicts GDP – CNN newsletter 5/6/21 co-chair of the Hawaii Aloha Chapter of CRS (Certified Residential Specialists). will grow 3.7% in 2021 with full recovery in 2023 Regulator approves $1.3 billion addition to Sue Ann holds the Certified Residential Specialist (CRS) designation, the Seniors Real Estate Specialist (SRES) – Honolulu Star-Advertiser 3/5/21 Ward Village designation, and the ePRO certification from the National Association of Realtors. She was awarded the prestigious UHERO forecast is cautiously optimistic, – HCDA approves the Park Village (546 luxury Certified Luxury Home Marketing Specialist (CLHMS) designation in addition to having earned membership within the assuming a steady vaccine rollout and units) and Ualana Ward Village (697 moderate- priced homes) Million Dollar Guild (GUILD) in recognition of her knowledge, experience and expertise in the luxury home arena. Sue federal relief – Honolulu Star-Advertiser 5/6/21 Ann was awarded the Aloha ‘Aina award by the Honolulu Board of Realtors and recognized with the “Realtor’s Choice” – Hawaii Business 3/5/21 award by her peers. She was named in Honolulu Magazine’s Best in RealEstate: Top Agents based on independent surveys Median price tops $900,000 for Oahu homes Federal judge rejects national moratorium on to Hawaii consumers annually, from 2013 through 2021. Sue Ann consistently ranks among the top agents on Oahu. – February median sales price for homes was $917,500 evicting renters – Honolulu Star-Advertiser 3/7/21 – “ruling could affects tenants struggling to pay rent Sue Ann grew up in Makiki Heights and graduated from Roosevelt High School. She holds a Bachelor’s degree in during the pandemic” Hawaii foreclosure cases plummeted last year – Honolulu Star-Advertiser 5/6/21 Education and an MBA from the University of Hawaii. She has been a member of the Rotary Club of Ala Moana since – due largely to mortgage loan forbearance and 1994. In her leisure she enjoys cooking, entertaining and traveling with her husband, Tim Liu. foreclosure relief programs Mayor signs measure to incentivize – Honolulu Star-Advertiser 3/14/21 affordable housing – Bill 1 offers financial grants to private developers Proposal for condo towers in Kakaako Makai dies – Honolulu Star-Advertiser 5/7/21 – Office of Hawaiian Affairs not allowed to build housing on the ocean side of Kakaako Oahu home sales surged in April – Honolulu Star-Advertiser 3/17/21 – 88% spike was in condo sales over previous (808) 722-9581 Cellular April 2020 Affordable-housing incentives advance E-mail: [email protected] – Honolulu Star-Advertiser 5/7/21 – City council wants to increase affordable rental Website: SueAnnLee.com housing by offering grants to developers ForwardRealty.com/SueAnn – Honolulu Star-Advertiser 3/18/21

72896 SAL NwsltrVol20No2_v3cc21.indd 1 5/13/21 8:39 AM What is Driving the Market? AAA PicturePicture isis WorthWorth aa ThousandThousand WordsWords WhatWhat isis DrivingDriving thethe MarketMarket TheThe AprilApril 20212021 medianmedian priceprice ofof singlesingle familyfamily homeshomes waswas $928,000,$928,000, aa 14.7%14.7% increaseincrease overover AprilApril 2020.2020. Reasons to Sell Reasons to Buy • Need to pay for assisted living care for a • Record low interest rates MediaMediann Sales Sales PricePrice Single-FamilySingle-Family Homes Homes aandnd Condos Condos ReasonsReasonsfamily toto member SellSell ReasonsReasons• Marriage toto BuyBuy OAHU,OAHU, HAWAII: HAWAII: Jan Jan 1987 1987 to to the the PresentPresent • Death of a parent $1,000,000$1,000,000 •• NeedNeed toto paypay forfor assistedassisted livingliving carecare forfor aa •• BirthRecordRecord of lowlowa child interestinterest and needratesrates for more space • Moving up the housing ladder from a familyfamily membermember •• COVIDMarriageMarriage work-from-home, study-from- $900,000$900,000 MMedianedian Sales Sales Price Price SFH SFHMedian Median SalesSales PricePrice CCondoondo condo to a single family home home reveals need for more living/ •• DeathDeath ofof aa parentparent •• BirthBirth ofof aa childchild andand needneed forfor moremore spacespace $800,000$800,000 • Relocation to the mainland work space •• MovingMoving upup thethe housinghousing ladderladder fromfrom aa • Empty-nesters decide to downsize •• CareCOVIDCOVID for work-from-home,anwork-from-home, aging parent study-from-study-from- $700,000$700,000 condocondo toto aa singlesingle familyfamily homehome • Moving into a retirement home • Downsizehomehome revealsreveals due toneedneed divorce forfor moremore living/living/ $600,000$600,000 •• DivorceRelocationRelocation toto thethe mainlandmainland • Jobworkwork relocation spacespace $500,000$500,000 •• Empty-nestersEmpty-nesters decidedecide toto downsizedownsize •• BeCareCare closer forfor anan to aging aginggrandchildren parentparent

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$300,000$300,000 and •buyers• DivorceDivorce in this real estate market. I have mom•• andJobJob dad. relocationrelocation It may be smaller, older, further to represented both sellers and buyers during this commute but it will be “their own.” $200,000$200,000 •• BeBe closercloser toto grandchildrengrandchildren COVID shutdown of 2020 and 2021. The current Buyers must have an experienced lender who $100,000$100,000 seller’s market has made it an extremely busy TheseThese areare butbut aa fewfew reasonsreasons whywhy therethere areare sellerseller willacceptaccept advocate lessless thanthan for whatwhat them theythey and werewererepresent accustomedaccustomed their best toto and frustrating time as buyers scramble to every $0$0 interests and, all things being equal, who has a 19871987 1988 1988 1989 1989 1990 1990 1991 1991 1992 1992 1993 1993 1994 1994 1995 1995 1996 1996 1997 1997 1998 1998 1999 1999 2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 andand buyersbuyers inin thisthis realreal estateestate market.market. II havehave whilewhile growinggrowing upup withwith mommom andand dad.dad. ItIt maymay bebe new listing in their price range and preferred representedrepresented bothboth sellerssellers andand buyersbuyers duringduring thethe reputationsmaller,smaller, older,older, within furtherfurther the industrytoto commutecommute of being butbut itit ethical,willwill bebe neighborhoods. A client of mine recently was InventoryInventoryInventory isisis soso lowlow thatthat thethe medianmedian daysdays onon marketmarket hashas beenbeen justjust 99 days for singlesingle familyfamily homeshomes COVIDCOVID shutdownshutdown ofof 20202020 andand 2021.2021. TheThe currentcurrent honest“their“their own.” own.”and fair. just one of 44 offering to purchase a home, andandand 131313 daysdaysdays for forfor condos condoscondos before beforebefore an anan offer offeroffer was waswas accepted. accepted.accepted. seller’sseller’s marketmarket hashas mademade itit anan extremelyextremely busybusy only to be disappointed along with 42 other SellersBuyersBuyers havemustmust thehavehave edge anan experiencedinexperienced this market lenderlender as offers whowho andand frustratingfrustrating timetime asas buyersbuyers scramblescramble toto everyevery MedianMedian DaysDays onon MarketMarket prospective buyers. arewillwill going advocateadvocate well forforabove themthem the andand asking representrepresent price intheirtheir certain bestbest AprilApril 20212021 newnew listinglisting inin theirtheir priceprice rangerange andand preferredpreferred neighborhoods.interestsinterests and,and, all allSellers thingsthings should beingbeing still equal,equal, work havehave to get aa OAHU,OAHU, HAWAIIHAWAII So how do you help buyers into escrow during (The(The medianmedian numbernumber ofof daysdays betweenbetween whenwhen aa propertyproperty isis firstfirst listedlisted aandnd whenwhen aann offeroffer isis accepted)accepted) neighborhoods.neighborhoods. MyMy clientclient recentlyrecently waswas justjust oneone their properties in the best presentable condition 4545 reputationreputation withinwithin thethe industryindustry ofof beingbeing ethical,ethical, theseofof 4444 crazy offeringoffering times? toto Whenpurchasepurchase buyers aa home,home, lose out onlyonly on one toto bebeor to the buying public. They should take care of 4040 honesthonest andand fair.fair. 4040 SingleSingle FamilyFamily HomesHomes twodisappointeddisappointed properties withwith they 4242 really otherother want, prospectiveprospective they understand buyers.buyers. the little stuff – deferred maintenance repairs,

3535 35 35 the velocity of the market and what they must do SellersSellers havehave thethe edgeedge inin thisthis marketmarket asas offersoffers 3535 CondosCondos SoSo howhow dodo youyou helphelp buyersbuyers intointo escrowescrow duringduring cleaning, painting, trimming trees, lawns and 3434 in order to be “selected” by a seller. It is not always areare goinggoing wellwell aboveabove thethe askingasking priceprice inin certaincertain 3333 garden areas. Sellers can leave money on the 3030 thesethese crazycrazy times?times? II reallyreally thinkthink buyersbuyers mustmust 3030 2929 the highest price that “wins” the prize. There are a neighborhoods.neighborhoods. SellersSellers shouldshould stillstill workwork toto getget 2727 27 27 2727 2727 2727 table if these easy fixes are not taken care of. 2626 2626 2626 2626 loselose outout onon oneone oror twotwo propertiesproperties theythey reallyreally lot of terms in the Purchase Contract that make an theirtheir propertiesproperties inin thethe bestbest presentablepresentable conditioncondition 2525 An experienced Realtor can advise you on what 2323 2323 2323 2323 2323 want.want. ThoseThose losseslosses helphelp themthem understandunderstand thethe 2222 toto thethe buyingbuying public.public. TakeTake carecare ofof thethe littlelittle stuffstuff –– 2121 2121 offer look attractive. Buyers must be financially 2020 may help increase the value of your property and 1919 velocityvelocity ofof thethe marketmarket andand whatwhat theythey mustmust dodo 2020 1919 1818 1818 1818 1818 1818 able and willing to sacrifice. Sometimes buyers deferreddeferred maintenancemaintenance repairs,repairs, cleaning,cleaning, painting,painting, 1717 also advise you on what may not be necessary 1616 inin orderorder toto bebe “selected”“selected” byby aa seller….seller…. ItIt isis notnot 1515 1515 must compromise on the neighborhood they trimmingtrimming trees,trees, lawnslawns andand gardengarden areas.areas. SellersSellers 1515 1414 1313 1313 1313 alwaysalways thethe highesthighest priceprice thatthat “wins”“wins” thethe prize.prize. or what may not give you a good return for the ideally would prefer to live. Sometimes first-time cancan leaveleave moneymoney onon thethe tabletable ifif thesethese easyeasy fixesfixes 1010 1010 1010 money expended. 1010 99 99 99 99 99 ThereThere areare aa lotlot ofof termsterms inin thethe PurchasePurchase ContractContract buyers must be willing to accept less than what areare notnot takentaken carecare of.of. AnAn experiencedexperienced RealtorRealtor thatthat makemake anan offeroffer looklook attractive.attractive. BuyersBuyers mustmust cancan adviseadvise youyou onon whatwhat maymay helphelp increaseincrease thethe 55 bebe financially financially ableable andand willingwilling toto sacrifice.sacrifice. valuevalue ofof youryour propertyproperty andand alsoalso adviseadvise onon whatwhat 00 SometimesSometimes buyersbuyers mustmust compromisecompromise onon thethe May-19May-19 Jun-19 Jun-19 Jul-19 Jul-19 Aug-19 Aug-19 Sep-19 Sep-19 Oct-19 Oct-19 Nov-19 Nov-19 Dec-19 Dec-19 Jan-20 Jan-20 Feb-20 Feb-20 Mar-20 Mar-20 Apr-20 Apr-20 May-20 May-20 Jun-20 Jun-20 Jul-20 Jul-20 Aug-20 Aug-20 Sep-20 Sep-20 Oct-20 Oct-20 Nov-20 Nov-20 Dec-20 Dec-20 Jan-21 Jan-21 Feb-21 Feb-21 Mar-21 Mar-21 Apr-21 Apr-21 What Does This maymayMean notnot necessarynecessary to You? oror willwill notnot givegive youyou aa goodgood MEDIANMEDIAN DAYSDAYS ONON MARKET:MARKET: May-19May-19 Jun-19 Jun-19 Jul-19 Jul-19 Aug-19 Aug-19 Sep-19 Sep-19 Oct-19 Oct-19 Nov-19 Nov-19 Dec-19 Dec-19 Jan-20 Jan-20 Feb-20 Feb-20 Mar-20 Mar-20 Apr-20 Apr-20 May-20 May-20 Jun-20 Jun-20 Jul-20 Jul-20 Aug-20 Aug-20 Sep-20 Sep-20 Oct-20 Oct-20 Nov-20 Nov-20 Dec-20 Dec-20 Jan-21 Jan-21 Feb-21 Feb-21 Mar-21 Mar-21 Apr-21 Apr-21 neighborhoodneighborhood theythey ideallyideally wouldwould preferprefer toto live.live. SingleSingle FamilyFamily HomesHomes 2121 18 18 17 17 27 27 29 29 23 23 23 23 18 18 35 35 35 35 15 15 19 19 13 13 20 20 13 13 15 15 9 9 10 10 10 10 10 10 9 9 9 9 9 9 9 9 The real estate market is dynamic. Whether you arereturnreturn contemplating forfor thethe moneymoney buying expended.expended. or selling it is extremely CondosCondos 2727 27 27 26 26 22 22 27 27 26 26 26 26 30 30 33 33 34 34 23 23 27 27 23 23 40 40 26 26 23 23 21 21 18 18 16 16 19 19 18 18 18 18 14 14 13 13 importantSometimesSometimes that first-timefirst-time you use buyersbuyersa professional mustmust bebe Realtor willingwilling committed toto to your success. Call me today to discuss Source:Source:Source: Honolulu HonoluluHonolulu Board BoardBoard of ofof Realtors, Realtors,Realtors, compiled compiledcompiled from fromfrom MLS MLSMLS data datadata your particular real estate situation.

7289672896 SALSAL NwsltrVol20No2_v3cc21.inddNwsltrVol20No2_cc21.inddNwsltrVol20No2_cc21.indd 22 2 5/13/215/11/215/11/21 8:398:108:10 AMAM What is Driving the Market? AAA PicturePicture isis WorthWorth aa ThousandThousand WordsWords WhatWhat isis DrivingDriving thethe MarketMarket TheThe AprilApril 20212021 medianmedian priceprice ofof singlesingle familyfamily homeshomes waswas $928,000,$928,000, aa 14.7%14.7% increaseincrease overover AprilApril 2020.2020. Reasons to Sell Reasons to Buy • Need to pay for assisted living care for a • Record low interest rates MediaMediann Sales Sales PricePrice Single-FamilySingle-Family Homes Homesaandnd Condos Condos ReasonsReasonsfamily toto member SellSell ReasonsReasons• Marriage toto BuyBuy OAHU,OAHU, HAWAII: HAWAII: Jan Jan 1987 1987 to to the thePresentPresent • Death of a parent $1,000,000$1,000,000 •• NeedNeed toto paypay forfor assistedassisted livingliving carecare forfor aa •• BirthRecordRecord of lowlowa child interestinterest and needratesrates for more space • Moving up the housing ladder from a familyfamily membermember •• COVIDMarriageMarriage work-from-home, study-from- $900,000$900,000 MMedianedian Sales Sales Price Price SFH SFHMedian Median SalesSales PricePrice CCondoondo condo to a single family home home reveals need for more living/ •• DeathDeath ofof aa parentparent •• BirthBirth ofof aa childchild andand needneed forfor moremore spacespace $800,000$800,000 • Relocation to the mainland work space •• MovingMoving upup thethe housinghousing ladderladder fromfrom aa • Empty-nesters decide to downsize •• CareCOVIDCOVID for work-from-home,anwork-from-home, aging parent study-from-study-from- $700,000$700,000 condocondo toto aa singlesingle familyfamily homehome • Moving into a retirement home • Downsizehomehome revealsreveals due toneedneed divorce forfor moremore living/living/ $600,000$600,000 •• DivorceRelocationRelocation toto thethe mainlandmainland • Jobworkwork relocation spacespace $500,000$500,000 •• Empty-nestersEmpty-nesters decidedecide toto downsizedownsize •• BeCareCare closer forfor anan to aging aginggrandchildren parentparent

$300,000$300,000 and •buyers• DivorceDivorce in this real estate market. I have mom•• andJobJob dad. relocationrelocation It may be smaller, older, further to represented both sellers and buyers during this commute but it will be “their own.” $200,000$200,000 •• BeBe closercloser toto grandchildrengrandchildren COVID shutdown of 2020 and 2021. The current Buyers must have an experienced lender who $100,000$100,000 seller’s market has made it an extremely busy TheseThese areare butbut aa fewfew reasonsreasons whywhy therethere areare sellerseller willacceptaccept advocate lessless thanthan for whatwhat them theythey and werewererepresent accustomedaccustomed their best toto and frustrating time as buyers scramble to every $0$0 interests and, all things being equal, who has a 19871987 1988 1988 1989 1989 1990 1990 1991 1991 1992 1992 1993 1993 1994 1994 1995 1995 1996 1996 1997 1997 1998 1998 1999 1999 2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 andand buyersbuyers inin thisthis realreal estateestate market.market. II havehave whilewhile growinggrowing upup withwith mommom andand dad.dad. ItIt maymay bebe new listing in their price range and preferred representedrepresented bothboth sellerssellers andand buyersbuyers duringduring thethe reputationsmaller,smaller, older,older, within furtherfurther the industrytoto commutecommute of being butbut itit ethical,willwill bebe neighborhoods. A client of mine recently was InventoryInventoryInventory isisis soso lowlow thatthat thethe medianmedian daysdays onon marketmarket hashas beenbeen justjust 99 days for singlesingle familyfamily homeshomes COVIDCOVID shutdownshutdown ofof 20202020 andand 2021.2021. TheThe currentcurrent honest“their“their own.” own.”and fair. just one of 44 offering to purchase a home, andandand 131313 daysdaysdays for forfor condos condoscondos before beforebefore an anan offer offeroffer was waswas accepted. accepted.accepted. seller’sseller’s marketmarket hashas mademade itit anan extremelyextremely busybusy only to be disappointed along with 42 other SellersBuyersBuyers havemustmust thehavehave edge anan experiencedinexperienced this market lenderlender as offers whowho andand frustratingfrustrating timetime asas buyersbuyers scramblescramble toto everyevery MedianMedian DaysDays onon MarketMarket prospective buyers. arewillwill going advocateadvocate well forforabove themthem the andand asking representrepresent price intheirtheir certain bestbest AprilApril 20212021 newnew listinglisting inin theirtheir priceprice rangerange andand preferredpreferred neighborhoods.interestsinterests and,and, all allSellers thingsthings should beingbeing still equal,equal, work havehave to get aa OAHU,OAHU, HAWAIIHAWAII So how do you help buyers into escrow during (The(The medianmedian numbernumber ofof daysdays betweenbetween whenwhen aa propertyproperty is is firstfirst listedlisted aandnd whenwhen aann offeroffer isis accepted)accepted) neighborhoods.neighborhoods. MyMy clientclient recentlyrecently waswas justjust oneone their properties in the best presentable condition 4545 reputationreputation withinwithin thethe industryindustry ofof beingbeing ethical,ethical, theseofof 4444 crazy offeringoffering times? toto Whenpurchasepurchase buyers aa home,home, lose out onlyonly on one toto bebeor to the buying public. They should take care of 4040 honesthonest andand fair.fair. 4040 SingleSingle FamilyFamily HomesHomes twodisappointeddisappointed properties withwith they 4242 really otherother want, prospectiveprospective they understand buyers.buyers. the little stuff – deferred maintenance repairs,

3535 35 35 the velocity of the market and what they must do SellersSellers havehave thethe edgeedge inin thisthis marketmarket asas offersoffers 3535 CondosCondos SoSo howhow dodo youyou helphelp buyersbuyers intointo escrowescrow duringduring cleaning, painting, trimming trees, lawns and 3434 in order to be “selected” by a seller. It is not always areare goinggoing wellwell aboveabove thethe askingasking priceprice inin certaincertain 3333 garden areas. Sellers can leave money on the 3030 thesethese crazycrazy times?times? II reallyreally thinkthink buyersbuyers mustmust 3030 2929 the highest price that “wins” the prize. There are a neighborhoods.neighborhoods. SellersSellers shouldshould stillstill workwork toto getget 2727 27 27 2727 2727 2727 table if these easy fixes are not taken care of. 2626 2626 2626 2626 loselose outout onon oneone oror twotwo propertiesproperties theythey reallyreally lot of terms in the Purchase Contract that make an theirtheir propertiesproperties inin thethe bestbest presentablepresentable conditioncondition 2525 An experienced Realtor can advise you on what 2323 2323 2323 2323 2323 want.want. ThoseThose losseslosses helphelp themthem understandunderstand thethe 2222 toto thethe buyingbuying public.public. TakeTake carecare ofof thethe littlelittle stuffstuff –– 2121 2121 offer look attractive. Buyers must be financially 2020 may help increase the value of your property and 1919 velocityvelocity ofof thethe marketmarket andand whatwhat theythey mustmust dodo 2020 1919 1818 1818 1818 1818 1818 able and willing to sacrifice. Sometimes buyers deferreddeferred maintenancemaintenance repairs,repairs, cleaning,cleaning, painting,painting, 1717 also advise you on what may not be necessary 1616 inin orderorder toto bebe “selected”“selected” byby aa seller….seller…. ItIt isis notnot 1515 1515 must compromise on the neighborhood they trimmingtrimming trees,trees, lawnslawns andand gardengarden areas.areas. SellersSellers 1515 1414 1313 1313 1313 alwaysalways thethe highesthighest priceprice thatthat “wins”“wins” thethe prize.prize. or what may not give you a good return for the ideally would prefer to live. Sometimes first-time cancan leaveleave moneymoney onon thethe tabletable ifif thesethese easyeasy fixesfixes 1010 1010 1010 money expended. 1010 99 99 99 99 99 ThereThere areare aa lotlot ofof termsterms inin thethe PurchasePurchase ContractContract buyers must be willing to accept less than what areare notnot takentaken carecare of.of. AnAn experiencedexperienced RealtorRealtor thatthat makemake anan offeroffer looklook attractive.attractive. BuyersBuyers mustmust cancan adviseadvise youyou onon whatwhat maymay helphelp increaseincrease thethe 55 bebe financially financially ableable andand willingwilling toto sacrifice.sacrifice. valuevalue ofof youryour propertyproperty andand alsoalso adviseadvise onon whatwhat 00 SometimesSometimes buyersbuyers mustmust compromisecompromise onon thethe May-19May-19 Jun-19 Jun-19 Jul-19 Jul-19 Aug-19 Aug-19 Sep-19 Sep-19 Oct-19 Oct-19 Nov-19 Nov-19 Dec-19 Dec-19 Jan-20 Jan-20 Feb-20 Feb-20 Mar-20 Mar-20 Apr-20 Apr-20 May-20 May-20 Jun-20 Jun-20 Jul-20 Jul-20 Aug-20 Aug-20 Sep-20 Sep-20 Oct-20 Oct-20 Nov-20 Nov-20 Dec-20 Dec-20 Jan-21 Jan-21 Feb-21 Feb-21 Mar-21 Mar-21 Apr-21 Apr-21 What Does This maymayMean notnot necessarynecessary to You? oror willwill notnot givegive youyou aa goodgood MEDIANMEDIAN DAYS DAYS ONON MARKET: MARKET: May-19May-19 Jun-19 Jun-19 Jul-19 Jul-19 Aug-19 Aug-19 Sep-19 Sep-19 Oct-19 Oct-19 Nov-19 Nov-19 Dec-19 Dec-19 Jan-20 Jan-20 Feb-20 Feb-20 Mar-20 Mar-20 Apr-20 Apr-20 May-20 May-20 Jun-20 Jun-20 Jul-20 Jul-20 Aug-20 Aug-20 Sep-20 Sep-20 Oct-20 Oct-20 Nov-20 Nov-20 Dec-20 Dec-20 Jan-21 Jan-21 Feb-21 Feb-21 Mar-21 Mar-21 Apr-21 Apr-21 neighborhoodneighborhood theythey ideallyideally wouldwould preferprefer toto live.live. SingleSingle FamilyFamily Homes Homes 2121 18 18 17 17 27 27 29 29 23 23 23 23 18 18 35 35 35 35 15 15 19 19 13 13 20 20 13 13 15 15 9 9 10 10 10 10 10 10 9 9 9 9 9 9 9 9 The real estate market is dynamic. Whether you arereturnreturn contemplating forfor thethe moneymoney buying expended.expended. or selling it is extremely CondosCondos 2727 27 27 26 26 22 22 27 27 26 26 26 26 30 30 33 33 34 34 23 23 27 27 23 23 40 40 26 26 23 23 21 21 18 18 16 16 19 19 18 18 18 18 14 14 13 13 importantSometimesSometimes that first-timefirst-time you use buyersbuyersa professional mustmust bebe Realtor willingwilling committed toto to your success. Call me today to discuss Source:Source:Source: Honolulu HonoluluHonolulu Board BoardBoard of ofof Realtors, Realtors,Realtors, compiled compiledcompiled from fromfrom MLS MLSMLS data datadata your particular real estate situation.

7289672896 SALSAL NwsltrVol20No2_v3cc21.inddNwsltrVol20No2_cc21.inddNwsltrVol20No2_cc21.indd 22 2 5/13/215/11/215/11/21 8:398:108:10 AMAM Sue Ann S.H. Lee, Realtor Sue Ann is a full time Realtor with Forward Realty, an independent real estate firm on Oahu. Sue Ann served as 2017 President of the Honolulu Board of Realtors, a 6500+ member trade association. She is a member of the Residential Real Estate Council, the Institute for Luxury Home Marketing, the Hawaii Society of Business Professionals, the Honolulu Board of REALTORS and the National Association of Realtors. She served as Director of the following organizations: 2020 was quite a year with the COVID-19 global National Association of Realtors (2017, 2018), Honolulu Board of Realtors (2013-2018), Hawaii Association of Realtors pandemic, unprecedented unemployment, a divisive (2014-2018) and HiCentral MLS (2016-2018). Sue Ann also served as Director-at-Large, Secretary and Education President, and the desecration of our nation’s co-chair of the Hawaii Aloha Chapter of CRS (Certified Residential Specialists). Capitol. On the local front businesses, stores, restaurants, schools and much of city and state Sue Ann holds the Certified Residential Specialist (CRS) designation, the Seniors Real Estate Specialist (SRES) government offices were shut down to minimize designation, and the ePRO certification from the National Association of Realtors. She was awarded the prestigious social contact in the threat of the coronavirus. Certified Luxury Home Marketing Specialist (CLHMS) designation in addition to having earned membership within the Tourism was shut down as foreign and domestic Million Dollar Guild (GUILD) in recognition of her knowledge, experience and expertise in the luxury home arena. Sue flights had few passengers. Those who could, Ann was awarded the Aloha ‘Aina award by the Honolulu Board of Realtors and recognized with the “Realtor’s Choice” learned to work from home. Grocery stores instituted award by her peers. She was named in Honolulu Magazine’s Best in RealEstate: Top Agents based on independent surveys “kupuna” hours where our elders could shop for to Hawaii consumers annually, from 2013 through 2021. Sue Ann consistently ranks among the top agents on Oahu. essentials before the general public was allowed to shop. There was a frenzy to find and purchase Sue Ann grew up in Makiki Heights and graduated from Roosevelt High School. She holds a Bachelor’s degree in personal protective equipment (PPE). Masks, Education and an MBA from the University of Hawaii. She has been a member of the Rotary Club of Ala Moana since alcohol, cleaning wipes and hand sanitizer were hard 1994. In her leisure she enjoys cooking, entertaining and traveling with her husband, Tim Liu. to get. Most of us can truly say we have never lived in a time such as this. Out of work through no fault of their own, many tenants were unable to pay rent. Government (808) 722-9581 Cellular instituted eviction moratoriums and provided rent E-mail: [email protected] subsidies. The moratorium on tenant evictions has Website: SueAnnLee.com been a god-send for many renters who lost their jobs. ForwardRealty.com/SueAnn Homeowners and landlords may obtain some relief through mortgage forbearance. We saw a drastic decline of Oahu real estate activity in March 2020 as we all adjusted to government- mandated shutdowns and stay-at-home orders. Deemed an essential business, the real estate industry was not shutdown but was required to abide by Information herein is deemed reliable but not guaranteed. If your property is currently COVID protocols of social distancing, sanitizing, listed with a real estate broker, please disregard. It is not our intention to solicit the mask-wearing and limits on the number of people offerings of other real estate brokers. We are happy to work with them and cooperate fully. gathering. The second quarter of 2020 was a period Equal Housing Opportunity. of adjustment for us all. I did not anticipate the jump in single family home sales in the third and fourth quarters of 2020. The combination of low inventory, low mortgage Fed keeps rate near zero, sees brighter economy interest rates and the realization that one can work in 2021 from home led to property searches outside of the – “Federal Reserve...will keep buying Honolulu metropolitan area. Single family homes government bonds until the economy makes seemed to be flying off the market with multiple ‘substantial’ progress” offers often above the asking price in the Ewa Plain – Honolulu Star-Advertiser 12/17/20 and Kailua. The median sales price in 2020 increased Hot housing market has many fuels 5.2% to $830,000 from $789,000 in 2019. – need for more private spaces, record-low mortgage Condo sales were down 13% with only 4,706 sales rates, low inventory, increase of second-home compared to 5,408 sales in 2019. The Waikiki market buying, and sheer volume of buyers. was hit hard with only 678 sale compared to 989 in – Honolulu Star-Advertiser 12/20/20 2019, a decrease of 31% in sales. Waikiki also saw a 30-year mortgage rate drops to record 31% increase in days on market. – low 2.66% Expect continued sales price increases in 2021 due – Honolulu Star-Advertiser 12/25/20 to low inventory and low interest rates. We can only US home prices rise at fastest pace in 6 years hope that COVID vaccinations will be effective in – Honolulu Star-Advertiser 12/30/20 obtaining herd immunity so we see a much needed recovery to our local economy. US home sale listings are at record low – “down almost 40% from December 2019 levels” – Honolulu Star-Advertiser 1/17/21