Thursday, April 22, 2010
Real Estate Rato - Purchase price / annual rent
Check out this article on whether to buy or rent.... Does buying beat renting? Not Always!
Tuesday, January 26, 2010
As Builts aka Un-permitted Structures
The County of Hawaii Building Division will soon be undertaking implementing IBC 2008 codes. Many of you many not be affected until you go to sell your home and find unpermitted or not finaled permits for portions of your structure/s. As late as 1999, escrows did not check the building permits.
Many loans such as VA loans will not fund any unpermitted or "under-permitted" structures even if a only a deck is unpermitted.
It is important that you either look on-line or go to the Bldg dept and review your permits. If you have open or unpermitted structures - nowis the time to take care of them. Not when your property is in escrow and you are under the gun!
Many loans such as VA loans will not fund any unpermitted or "under-permitted" structures even if a only a deck is unpermitted.
It is important that you either look on-line or go to the Bldg dept and review your permits. If you have open or unpermitted structures - nowis the time to take care of them. Not when your property is in escrow and you are under the gun!
2010 - New Year, New Economics!
After talking with a number of realtors, on the Big Island specifically, and on the mainland, the real estate market seems to be inching up and moving slowly but moving none the less. Once again, this may be a good time to look at fixer upper's - many are in foreclosure. As they head into foreclosure, it seems like the last thing people can afford to do is home maintenance.
Your realtor can give you a list. Go see them. And start making a list of items to be fixed, remodeled, and cleaned up. For a consultation fee, many contractors will now go out and do some estimates on the more involved items. There are also fine home appraisers than you can pay $300-500 to go through it and make you a detailed list of items that need repair or replacement.
Once you have a good handle on the repairs needed, and what remodeling you may like to do - you can accurately compare a "fixer-upper" to a new spec house. There are times that the repairs will exceed what the price might be if it was in good condition. And there are times when just mowing the lawn and painting will bring the value up!
Fixer uppers and even unpermitted structures are not insurmountable if you go step by step and do not expect it to be done quickly so that you can move in when escrow closes! That just rarely happens.
Your realtor can give you a list. Go see them. And start making a list of items to be fixed, remodeled, and cleaned up. For a consultation fee, many contractors will now go out and do some estimates on the more involved items. There are also fine home appraisers than you can pay $300-500 to go through it and make you a detailed list of items that need repair or replacement.
Once you have a good handle on the repairs needed, and what remodeling you may like to do - you can accurately compare a "fixer-upper" to a new spec house. There are times that the repairs will exceed what the price might be if it was in good condition. And there are times when just mowing the lawn and painting will bring the value up!
Fixer uppers and even unpermitted structures are not insurmountable if you go step by step and do not expect it to be done quickly so that you can move in when escrow closes! That just rarely happens.
Tuesday, September 15, 2009
Solar Updates 9-15-09
As of July 2008, all new homes with permits pulled after July 1, 2008 must have solar hot water heating. Besides being greener construction (less energy usage), it also ends up being cost effective in the longer run. I have heard quotes of payback in 7-10 years. Judging by my electric bill, it may be a lot less than that! As fuel cost edge up again, if the KWH costs goes way up again like it did last summer – up over 42 cents a KWH – it will really speed up the payback. If you go to Hawaii Energy Future, there is overwhelming information on the solar credits available. A tip – you must call or email them for the list of names of approved plumbing contractors for the credits. You cannot get the credits unless you use an approved contractor. Credits expire at the end of the 2009.
Coming soon – Info on HPM about a new product that is applied onto tin roofing to use solar to produce electrical energy for home use!
Coming soon – Info on HPM about a new product that is applied onto tin roofing to use solar to produce electrical energy for home use!
Monday, September 14, 2009
Cooking and Construction - Part 1 of a Series 9-14-09
So you have decided to build your dream home! In addition, because you are a foodie, your kitchen is going to be top notch and the best layed out room in the whole house. Cooking and construction go together more often than you think and I am not just talking about feeding your carpenters’ pupus on Friday afternoon while building the house!
You have all your cookbooks. You are excited about in a few months trying out your carefully culled recipes and maybe even thinking of your guest list for that first fabulous dinner party at your new home or even your remodeled new kitchen!
STOP. What are you cooking on? Oh, you are sure you are a gas cook top person. No doubt about it! Okay! Let me suggest a few things while your plumber and electrician are submitting their bids!
Plan for dual fuel behind your stove. You are already picking out the perfect stove and cannot wait for it to be delivered and cook that first meal on it! The specs have the quantity of BTU’s needed. (The British thermal unit (BTU or Btu) is a traditional unit of energy. It is approximately the amount of energy needed to heat one pound of water one degree Fahrenheit.) Save that number. Now go on to the more mundane items – your dryer if gas, your water heater, whatever else is going to be gas! Do not forget to include the gas grill or BBQ you will be adding to your outdoor kitchen. Here we say BBQ, or if you are from the south, it is a grill (BBQ is a whole other thing in the south!)
Take all those numbers and now get your plumber to put in a line that will support the maximum number of BTU’s in relation to the farthest distance that gas will be traveling. Do not skimp. Typically at 80’, you will need a 1” ID line (not ID like your driver’s license – ID means inside diameter as opposed to OD or outside diameter. This can make a big difference in sizing but that is a whole other subject!)
Think of Christmas Eve – you are getting ready for a party – will all 4 burners on, and guests are using all 3 bathrooms to shower, and you decide to quick get those extra cloth napkins dried you left in the washer so you have enough…. In addition, your significant other is throwing the veggies on the outdoor grill. WHEW! It may not happen often that you max out but it is like insurance – what will you do if it is not there when you do need it? Hand your guests drink and tell them it is Puna no need shower. Use dirty dishtowels to dry the last four wineglasses that you need for the table? On the other hand, simmer that item that was supposed to be seared?
There are a number of good places on the internet to get the calculations but working with your plumber –do not let them say, “This is good enough”. The overall cost of a bigger line is so small that it makes no sense not to do the right thing.
This goes for the dual fuel – many times a gas cook top will come with an electric oven. You do not want to have to retrofit your kitchen for about $20 worth of planning.
Happy Cooking!
(to be published at LetseatHawaii.com a new foodie ezine specifically for Hawaii! )
You have all your cookbooks. You are excited about in a few months trying out your carefully culled recipes and maybe even thinking of your guest list for that first fabulous dinner party at your new home or even your remodeled new kitchen!
STOP. What are you cooking on? Oh, you are sure you are a gas cook top person. No doubt about it! Okay! Let me suggest a few things while your plumber and electrician are submitting their bids!
Plan for dual fuel behind your stove. You are already picking out the perfect stove and cannot wait for it to be delivered and cook that first meal on it! The specs have the quantity of BTU’s needed. (The British thermal unit (BTU or Btu) is a traditional unit of energy. It is approximately the amount of energy needed to heat one pound of water one degree Fahrenheit.) Save that number. Now go on to the more mundane items – your dryer if gas, your water heater, whatever else is going to be gas! Do not forget to include the gas grill or BBQ you will be adding to your outdoor kitchen. Here we say BBQ, or if you are from the south, it is a grill (BBQ is a whole other thing in the south!)
Take all those numbers and now get your plumber to put in a line that will support the maximum number of BTU’s in relation to the farthest distance that gas will be traveling. Do not skimp. Typically at 80’, you will need a 1” ID line (not ID like your driver’s license – ID means inside diameter as opposed to OD or outside diameter. This can make a big difference in sizing but that is a whole other subject!)
Think of Christmas Eve – you are getting ready for a party – will all 4 burners on, and guests are using all 3 bathrooms to shower, and you decide to quick get those extra cloth napkins dried you left in the washer so you have enough…. In addition, your significant other is throwing the veggies on the outdoor grill. WHEW! It may not happen often that you max out but it is like insurance – what will you do if it is not there when you do need it? Hand your guests drink and tell them it is Puna no need shower. Use dirty dishtowels to dry the last four wineglasses that you need for the table? On the other hand, simmer that item that was supposed to be seared?
There are a number of good places on the internet to get the calculations but working with your plumber –do not let them say, “This is good enough”. The overall cost of a bigger line is so small that it makes no sense not to do the right thing.
This goes for the dual fuel – many times a gas cook top will come with an electric oven. You do not want to have to retrofit your kitchen for about $20 worth of planning.
Happy Cooking!
(to be published at LetseatHawaii.com a new foodie ezine specifically for Hawaii! )
Saturday, April 4, 2009
Builder's References
This is a subject that comes up again and again and again. When you are spending that much money - who do you trust?
An example I am going to use is Mrs. X They were building a house. She needed concrete done. She hired a good concrete guy. He got the job done well. She complains to everyone she knows - because the concrete is rough. Her concrete guy told her and also made her sign an acknowledgment - that it was not a good day to pour concrete. (it seemed like it was going to rain. It did rain. Hard.) and yet Mrs. X feels no need to acknowledge her mistake. She blames the concrete guy. (she has also complained about everyone involved in the project.)
My suggestion is - go look at their work. If you like it, use them. Go with your instincts.
An example I am going to use is Mrs. X They were building a house. She needed concrete done. She hired a good concrete guy. He got the job done well. She complains to everyone she knows - because the concrete is rough. Her concrete guy told her and also made her sign an acknowledgment - that it was not a good day to pour concrete. (it seemed like it was going to rain. It did rain. Hard.) and yet Mrs. X feels no need to acknowledge her mistake. She blames the concrete guy. (she has also complained about everyone involved in the project.)
My suggestion is - go look at their work. If you like it, use them. Go with your instincts.
Saturday, March 28, 2009
Big Impact - Little Cash!
Once again, I heard last week "but that person has a lot of money to do xyz". I said you too can do those things. First of all if you have an idea of something really cool to do - say tile a bathroom with some out of the ordinary patterns - remember that your bathroom is probably somewhere between 40 and 80 square feet. Even a $6.00/sf tile is only $240-480 for the floor. But you can use inexpensive tiles and use the more expensive tiles as an accent. The key is to shop craigslist and garage sales, close outs at tile stores, etc and lay out your tile on a flat surface so you can see what pattern is possible. Say on 40/sf (5x8 old school "GI" bathroom) you might find a "subway tile" - 2"x6-8" - but they say only have 60 of them @ $1.00/ea. That could become a border tile. Then get the $1.99 18"x18" tile from your local big box home store and you have essentially a complete floor for about less than $100. It is very possible to do. This works too for that very cool expensive tile where only use a little will create a big impact - such as a trim around a shower. Even broken tiles collected from a jobsite can be layed out in a mosiac pattern for a border.
An important fact to remember is to lay them out as much as possible first before you open the thin set.
A note as to what looks good to your eye : a big tile will create a feeling of spaciousness BUT also too big a tile in a small space will get lost. Always remember Fibonacci theory and the golden ratio when designing.
An important fact to remember is to lay them out as much as possible first before you open the thin set.
A note as to what looks good to your eye : a big tile will create a feeling of spaciousness BUT also too big a tile in a small space will get lost. Always remember Fibonacci theory and the golden ratio when designing.
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