Posts: 820
Threads: 106
Joined: Mar 2006
quote:
You seem to think that what these analysts and "doomsayers" say is actually causing the decline by scaring people. I think they are just reporting the truth and their prognosticastions have no effect. Would rather hear the biased opionions of people like Rabi? Sure the whole economy will suffer greatly if the real estate market tanks but you're putting the blame on the wrong people. The analysts are not causing the decline by reporting on it.
That is not what I'm saying. I'm saying
that it seems these "analysts" or "doomsayers" do not comprehend the human factor of any housing collapse.
Worse yet, the government here will
re-zone more land here in preparation
for the next land rush. But will say
they don't have a enough money to build infrastructure.To me that is horrible
way to do planning here. Hence why we
need to shake things up here and diversify our economy. So we are not continually catering to the whims of developers.
Edited by - Aaron S on 09/11/2006 17:13:18
Posts: 2,312
Threads: 59
Joined: Jun 2003
"Isn't Hawaii still a sub-agency state and not a transaction broker state? As a sub-agent of the seller aren't you obligated to "sell" his property? And while being fair and honest to all parties isn't it your obligation as their sub-agent to try to convince the buyer to purchace the seller's property?
Stir, stir!!
S. FL Islander to be"
There is no sub-agency in Hawaii and the State actually is considering outlawing dual-agency too.
PS. Don't shot Rob, it's not about the market! 
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185
Posts: 2,652
Threads: 43
Joined: Sep 2006
"There is no sub-agency in Hawaii and the State actually is considering outlawing dual-agency too."
If I understand the law correctly: If you aren't acting as an accredited buyers agent or single agent of the buyer, you are acting as a sub-agent of the seller. Even if you are acting as a dual-agent, you are primarily representing the seller "disclosed to both parties", as there is as of yet no transaction brokerage in Hawaii, unlike in Florida. Your fiduciary is still primarily with the seller unless you're acting as an ABR.
S. FL Islander to be
Pua`a
S. FL
Big Islander to be.
Posts: 8,487
Threads: 1,033
Joined: May 2003
My favorite bumper sticker is still:
Don't Believe Everything You Think
Assume the best and ask questions.
Punaweb moderator
Posts: 1,734
Threads: 29
Joined: Feb 2006
A quote from Aaron's post:
That is not what I'm saying. I'm saying
that it seems these "analysts" or "doomsayers" do not comprehend the human factor of any housing collapse.
*************************
Aaron, I don't understand what you mean when you refer to the "human factor of any housing collapse"?
Personally, I think the probable upcoming housing and economic collapse will be because of rising interest rates, rising gas costs and too many folks who got adjustible rate mortgages.
Folks can only afford so much per month for their mortgage. Many of them bought with adjustable rate mortgages thinking (A) the rate will never go up that much or (B) they would switch to fixed rate mortgage later when they can afford it or ©when the value of their house increases enough that they can sell it for a profit. These folks can only afford a certain amount each month to pay the mortgage. When the interest rates rise, they can't afford it. When it takes an extra couple hundred dollars in increased gas costs to get to work each month, they can't afford it. When the price of their house doesn't rise and they have to keep making the payments until their savings run out, then they can't afford it. In all these cases, they will go bankrupt and the property will sell off for a lower price. If the events have happened to cause these folks to not be able to afford their houses, it will also cause other folks to not be able to afford the houses at the previous prices.
As far as house construction goes, I've chatted with a few contractor friends and they said the middle range construction jobs are few and far between. They are doing the real small and affordable units (1,000 square feet and less) and doing the really big expensive units (3 million dollars and above), but nothing in between.
Since most of my clients are in the "small and affordable" range, they are real happy to be able to find contractors interested in doing their projects now. A year or so ago, they couldn't find a contractor to even give them the time of day. So even though it seems to be an ill wind, it brings some good to at least a few folks.
A hui hou,
Cathy
"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson
Posts: 820
Threads: 106
Joined: Mar 2006
Aloha Cathy,
I would suggest you re-read what I've written.You can read in more detail on my
blog http://aaronstene.blogspot.com/.
But in a nutshell, I'm saying for example
the last time the bottom fell out here,
the Big Island had a 10% unemployment rate.
Worse yet the government here will claim
they don't have money for infrastructure improvements and re-zone more vacant land here in preparation for the next land rush.
I've lived here 30 years and it frustrating
to see history repeat itself once again.
Edited by - Aaron S on 09/12/2006 17:08:14
Posts: 771
Threads: 37
Joined: Feb 2006
Cramer weighs in- "there's too much negativity in housing." not much more than that though;
http://www.thestreet.com/funds/madmoneyw...484_3.html
Others want to make friends- I just want to make money.
James Cramer
Posts: 942
Threads: 17
Joined: Aug 2005
In Hawaii and in our contracts here, we clearly state who is represented by each party in the transaction. Its not perfect yet, and there's move toward "designated agency" and some other forms that some states are experimenting with. I think we're kind of waiting to see which experiment is best. Hawaii was actually one of the first (if not THE first) to change our rules to make it possible to eliminate sub-agency. No Realtor I know would accept sub-agency of the seller as an option for them. In fact, we specifically state in the MLS that sub-agency on a listing is not an option.
John Dirgo, RA, ABR, e-PRO
Island Trust Properties, LLC
808-987-9243 cell
Posts: 820
Threads: 106
Joined: Mar 2006
quote:
Cramer weighs in- "there's too much negativity in housing." not much more than that though;
http://www.thestreet.com/funds/madmoneyw...484_3.html
The link you posted talks about Warren Buffet and Google, not housing ?
Posts: 2,312
Threads: 59
Joined: Jun 2003
quote:
In Hawaii and in our contracts here, we clearly state who is represented by each party in the transaction. Its not perfect yet, and there's move toward "designated agency" and some other forms that some states are experimenting with. I think we're kind of waiting to see which experiment is best. Hawaii was actually one of the first (if not THE first) to change our rules to make it possible to eliminate sub-agency. No Realtor I know would accept sub-agency of the seller as an option for them. In fact, we specifically state in the MLS that sub-agency on a listing is not an option.
John Dirgo, RA, ABR, e-PRO
Island Trust Properties, LLC
808-987-9243 cell
Right on John. I would add that ABR (Accredited Buyer Representative) has nothing to do with the agency or the contract, it is just a designation for REALTORS. In addition, we also have an HAR form called "Buyer Representation Agreement" which is a contract between the Buyer and the Brokerage in regards to the representation of the Buyer.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185
|
