Sales of O‘ahu Homes Cool Amid Rising Mortgage Rates Median sales prices remain relatively flat, active inventory builds gradually
Rising mortgage rates are weighing on home sales. Year-over-year, single-family home and condo sales dropped 34.4% and 19.3%, respectively, and compared to August 2022, single-family home sales were down 11.5%, while condo sales dipped 2.4%. Pending sales activity was also muted compared to last year, with contract signings falling 43.7% for single-family homes and 30.7% for condos.
Median sales prices remained relatively flat over the last several months and saw a slight bump up compared to the same time last year. In September, the single-family home median was $1,100,000, up 4.8%, while the condo median sales price was $502,500, a 5.1% increase from a year ago.
“With rising rates and inflation, buyers are reevaluating what they can afford, and this is having ripple effects across supply and demand in our local housing market,” said Chad Takesue, president of the Honolulu Board of REALTORS®. “Fortunately, our 10-year appreciation rates on O‘ahu have been historically favorable, so despite interest rates being about 6%, real estate is still a smart investment. It’s important to remember that the market varies from neighborhood to neighborhood, and housing opportunities are available for everyone.”
leaming gourmet kitchens. Magnificent living spaces. Ample bedroom suites. When it comes to luxury homes, some interior must-haves are fairly obvious. But, today, a newer space is being elevated from niche to necessary: the grand game room.
Decked out with custom game tables cloaked in contemporary, bespoke grandeur, these spaces are delivering a new level of home entertainment, triggered — not surprisingly — by the start of Covid-19. But while the pandemic certainly put game rooms in finer focus, high-end manufacturers and retailers continue to see buyer demand today.
Photo by Anthony Barcelo
“During the pandemic, people were forced to spend more time at home, which created a higher demand for game tables, resulting in direct growth for IMPATIA,” says Gregg Brodarick, founder and creative director of the Italian-based, artisan-crafted luxury game table company. “In terms of growth for the luxury game room, this aspect is mainly driven by the interior design community and homeowners’ desire to revamp their average basement or entertainment room into something much more modern, immersive, and aesthetically beautiful.”
That modern aesthetic is a hefty departure from the more traditional look that dominated the game table market for decades. It’s also one of the reasons Los Angeles-based luxury gaming design company, 11 Ravens, has experienced “extreme growth” in luxury game tables over the last decade, says founder Michael Zaretsky.
“We attribute our growth and popularity to a number of factors. One, we began creating custom luxury game tables with modern design that was never offered before. Traditionally you see antique, carved-wood, heavy pool tables. Two, Covid has increased play at home, and then the improvement of Covid bringing employees back into the office has incentivized companies to create amenities like game rooms in their offices.”
11 Ravens/Arclight Chess Table
Billiards tables remain a cornerstone for these high-end brands, comprising the largest share of the game room market, with sales that are expected to reach $291.6 million by 2028. “We see pool/billiards as the most consistent product trending with our clients worldwide,” says Zaretsky.
But they’re hardly the only option. Today, you may be just as likely to walk into a $19 million Corona del Mar home and entertain in a space that features custom shuffleboard and ping-pong tables, as well as three full-size pinball machines. Or this exceptional $52 million Bel Air estate, which is magnificent in every inch of its 36,000 square feet. That includes the expansive game room, with billiards, ping-pong, and foosball tables, as well as shuffleboard.
IMPATIA/ Fillotto
IMPATIA/Derby
IMPATIA’s all-time, top-selling game tables, the contemporary glass Fillotto pool table, and the Lungolinea ping-pong table, fashioned in Italian leather with a glass playing surface, are indicative of the look luxury homeowners and designers have been seeking. Over the past year, the company has seen increased demand for their Unootto poker table, which also features an all-glass playing surface, and their newly launched glass-top Derby foosball table.
For 11 Ravens, contemporary trending spurred the addition of premium lucite to their collection. Lucite is available on the company’s Avettore, Theseus, Macan, and Malibu styles, the last of which Zaretsky calls a “versatile and popular model with sleek and minimalist lines (that is) also easily customized with materials like teak for outdoor use, hemp wood for sustainability, or metal finishes for a luxurious reflective surface.”
Photo by Anthony Barcelo
With clean lines, an abundance of customizable options, and designs that can look more like sculpture than leisure, these sophisticated high-end tables can fit in with any kind of décor and exhibit an appeal that makes them showoff worthy. “A big trend we are seeing is more modern aesthetics combined with premium materiality versus the traditional bulky game tables,” says Brodarick. “Putting a stronger focus on the design of each game table has resulted in clients and designers being more inclined to incorporate game tables into their everyday spaces as a statement piece rather than just hiding them in a basement.”
Along with your favorite Halloween decorations like faux spider webs, jack-o-lanterns, ghosts, and skeletons lurking around your home this October, why not add to your spooky decor with a few frightfully fun plants? Several varieties of indoor plants offer hauntingly beautiful black blooms, spidery leaves, twisted stems, and monster-like shapes. They will give your indoor display a botanically ghoulish touch. Of course, you can enjoy these easy-to-grow, yet fascinating oddities from the plant world any time of year in your home (a few can even be grown outdoors, depending on where you live), but their otherworldly appearances seem especially fitting around Halloween.
Emerald Ripple Peperomia
With a little imagination, the dark reddish, crinkled leaves of ‘Burgundy’ emerald ripple peperomia look like ghoulish body parts. Each leaf sits on the end of a red stalk, giving the entire plant an alien lifeform look. Keep this creature in bright but indirect light and moderate humidity. And be careful not to overwater, or it might add some withered, black, and slimy leaves to the mix.
Batflower
The weird but wonderful batflower has blooms that look like they’re from another planet. Each cluster of small, dark purple flowers is topped off with a set of purple “wings” that stick out like they’re about to take flight. Long, purplish “whiskers” hang down from the cluster, almost to the soil. The blooms are sure to contribute a macabre accent to your Halloween decor. Place your batflower in bright but indirect light in a space with moderate humidity (it will appreciate a daily misting) and keep the soil evenly moist.
Mangave ‘Desert Dragon’
Featuring long, narrow, gray-green leaves covered with brownish-purple spots, Mangave ‘Desert Dragon’ sprawls from the soil in a low, spider-like heap. This fast-growing succulent needs bright, direct light and regular watering, but if you neglect this task, ‘Desert Dragon’ will live up to its name and be just fine until you can give it another drink. It’s hardy to Zones 9-11, so you can try it outdoors if you live in a warmer region.
Toad Plant
It would be more accurate to call this one “giant smelly starfish flower” rather than toad plant (Stapelia gigantea), but either way, it’s a terrific succulent that most anyone could grow in a bright, warm windowsill. Pollinated by carcass-loving insects in the wild, these plants produce large, five-point flowers that reek of death. It’s not uncommon for flies to lay eggs on the flower surface and the resulting larvae may be seen wriggling around the center of the flower!
Old Man Cactus
Resembling Cousin It from the Addams Family, this cactus gets its name from the long, white, wispy-looking “hair” surrounding the entire plant. But watch out for the sharp spines hidden in that fuzzy beard! This guy likes hot, bright, dry conditions, so place it in a south-facing window in direct sunlight and water sparingly when the top inch or two of soil in the container feels dry.
‘Black Star’ Calla Lily
Need a bouquet fit for a corpse bride? ‘Black Star’ calla lily’s striking, funnel-shape flowers are such a deep, rich purple color that they appear black. As houseplants, they grow best in bright, indirect light and need regular watering to keep the soil moist. These bulbous plants will go dormant in November, but should come back to life again the following spring.
Air Plants
Tillandsias (aka air plants) already seem preternatural because they have no roots to speak of and grow without soil. But a few varieties look especially creature-like, with fuzzy or twisting leaves that look like tentacles. They’re especially fun to add to spooky figurines as hair. Because air plants don’t need a pot to grow in, you’ll have more flexibility when incorporating them into your Halloween decor. Just be sure to keep them in a bright place out of direct sunlight and soak them in water once a week for about a half hour to keep them hydrated.
Raven ZZ Plant
ZZ plant grows glossy, almost leathery leaves along its slender, gently arching stems. ‘Raven’ is a newer variety with leaves that are so dark that they look almost black. Its hue works perfectly with Halloween color schemes, especially as a backdrop to orange pumpkins and gourds. ZZ plant does best in bright, indirect light. Water it when the soil feels dry, but it won’t mind if you neglect it for a while.
After the rest of your Halloween decorations have been packed away, you can continue to enjoy these plants around your home. They’ll blend in with your other houseplants with ease and continue to add a little moodiness to a room. You could also display them outside in the spring and summer to accent other container plants (they’ll look especially striking paired with black succulents). However you choose to show off these exciting plants, they’re sure to create unusual and eye-catching displays to die for.
One of the most frustrating things about houseplants is when a normally healthy plant starts dropping leaves or turning yellow, and you’re not sure why. Don’t fret; many of these plant problems can be quickly resolved with small care changes. Learn how to decode the messages your plant is sending—and how to fix them. You’ll be back to thriving, happy plants in no time!
Problem: Stretching
Solution:
If your plant has suddenly grown awkwardly tall or long or sends out spindly stems reaching towards its light source, it’s trying to tell you that it needs more light. Move it closer to a window or switch it to another window that gets more light. Thanks to the sun, south-facing windows tend to be the brightest, north-facing windows offer the least light, and east and west windows fall somewhere in between. And rotate your plants so that all sides of the plant get equal access to the sun and to prevent the houseplant problem of lopsided growth. If you still can’t find the perfect spot for the plant, invest in a plant light to make sure it gets what it needs.
Problem: Curling Leaves
Solution:
Unusual growth patterns are a common sign of disease or insect presence. If you see curling or distorted leaves, look closer—you may find other signs of insects or the insects themselves. If you find black spots or fuzzy white spots, it’s probably a disease. Bring the affected plant into your local garden center for advice on remedying the infection. Some plants require a specific anti-fungal or anti-bacterial solution, while others can be hosed off well to eliminate diseases.
Problem: Brown Leaf Tips
Solution:
If your houseplant problem is brown tips on its leaves, it may be signaling one of the following issues:
Inconsistent watering: This doesn’t mean you must constantly water your houseplants at 9 am on a Tuesday. Instead, be sure to only water when a plant really needs it. And even if your plant can tolerate less frequent watering, try not to go weeks without watering and then randomly surprise it with a well-intentioned deluge. When you water, make sure water runs out of the drainage holes, so you know it’s not a) sitting in the pot or b) only reaching the top part of the plant.
Low humidity: Many houseplants are tropical natives. If the air in your house or apartment is dry, mist your plants every few days.
Too much salt: This can happen from overfertilizing or salts from treated tap water. Go easy on the fertilizer and try watering with distilled water.
Problem: Yellow Leaves
Solution:
If your plant only has one or two yellow leaves, it’s likely not serious—just pluck them off, and your plant should be good to go. An excessive amount of yellow leaves, however, could be a sign of a more significant issue. Overwatering kills houseplants just as often (if not more) than underwatering. Most plants shouldn’t sit in water, leading to root rot and making them more susceptible to disease. Although exact needs vary by plant, a good rule of thumb is to water when the soil feels dry about 1/2 to 1 inch down.
Yellow leaves may also be a sign of low light. Try moving the plant to a brighter spot.
Problem: Dropping Leaves
Solution:
Are you constantly having to pick up leaves from the floor when you walk by your plant? Some plants, such as ficus, are sensitive to a change in location and show it by dropping leaves. As long as the growing conditions in the new spot are still ideal, it should grow fresh leaves after it settles in.
If you haven’t moved your plant recently, leaf drop may also indicate low light.
Problem: Pale & Yellow Leaves
Solution:
Like humans, your plant can get sunburned. Leaves that are pale or white are usually a result of too much light. Luckily, this is easily resolved by moving your plant out of direct sunlight or to a window that gets less intense light.
Leaf scorch can also be a result of fertilizer burn. Use less fertilizer or switch to distilled water, as the salt from softened faucet water can build up in the soil.
Problem: Wilting Leaves
Solution:
The plant problem wilt can be challenging to diagnose; sometimes, it can be too late to save your plant. It may be caused by underwatering, overwatering, poorly draining soil, heat stress, disease, or a lack of humidity. You can try to bring your plant back from the brink by checking the soil for dampness or dryness and adjusting watering habits accordingly, lowering the temperature, repotting in better soil, or misting to improve humidity.
Problem: Spotted Leaves
Solution:
Spots on leaves are usually indicative of a bacterial, fungal, or viral disease. You may be able to salvage the plant by improving air circulation so that it dries out more quickly between waterings and removing diseased foliage. Throw away any diseased plant material so it doesn’t spread to other plants. To prevent disease, give plants ample space to grow, remove dead foliage promptly, and always water at the base of a plant.
Problem: Powdery Mildew
Solution:
Powdery mildew is a fungal infection that affects many plants. Fungicides are available and can help control the problem. It’s easiest for mildew to form in still, humid conditions, so increasing the airflow around the affected plant can also help. Remove the severely infected foliage when working on controlling the issue.
Problem: Non-Absorbant Soil
Solution:
If you’re confident you’re giving a plant plenty of water and it’s not root-bound (two common reasons for plants to dry out), your houseplant problem may be an issue with your soil. Many potting soils use peat, which holds water well when moistened but is difficult to wet the first time thoroughly.
Even if it’s been well-moistened in the past, leaving the plant unwatered when you go on vacation or forgetting to water it regularly can dry out the soil. This can result in the plant not absorbing water well.
Small pots can be submerged in lukewarm water to remoisten the peat in the soil. It’s more challenging to do that with large pots. Many nurseries sell surfactants (wetting agents) that are safe for the plant. Surfactants will help water “adhere” to your plants. Follow the instructions on the bottle to fix your soil.
Are you looking for a fresh start in 2023? You can ring in the new year in a new home if you start now. The holiday season is the most wonderful time of the year, especially when it comes to selling your home and making a move.
Here are some of the best reasons to consider selling your home during the holiday season:
Lower Inventory
There are typically fewer homes on the market during the holidays, so there’s less competition from other sellers to attract buyers. And if you’re also looking to buy, you can be assured that sellers are motivated to close by the end of the year.
Timing is Everything
Whether they’re moving for a new job or a new school, end-of-year house hunters are more likely to be motivated and committed to making a strong offer.
Faster Closing
With the end of the year approaching, everyone involved in the transaction is eager to wrap up the closing process as soon as possible.
It’s an Emotional Time
Anyone who has purchased or sold a property knows that emotions are a big part of the process. Listing your home during the holidays, where rooms look festive and inviting, can appeal to buyers’ sentimentality. As the saying goes, “There’s no place like home for the holidays.”
If you’re interested in selling, contact a Coldwell Banker® affiliated agent today, who can expertly market your home so you can get the most out of your sale. Your agent will plan open houses and showings around your schedule, so it doesn’t get in the way of your holiday celebrations.
With motivated buyers making strong offers, the market can work in your favor during the holiday season – don’t miss your chance to earn a great return on your investment.
With over half of U.S. households celebrating* Halloween and 66 percent of them planning to participate in trick-or-treating, make sure kids are safe and sound when coming to your door. Here are some tips to make sure this Halloween isn’t physically frightful at your home.
Keep a Clutter-Free Haunted House
Homeowners should remove anything a child can trip over from the front yard, porch and stairs leading to the front door. Make sure all walking paths are clear of lawn decorations, potted plants, extension cords, hoses, gardening equipment, bicycles, barbecue grills and anything else trick-or-treaters might run into, especially when they can’t see at night. And don’t forget to leave the front of the house and exits well-lit and the lawn sprinklers turned off.
Corral Your Pets
Your guests don’t need to feel threatened by a strange dog, or worse yet, knocked over by an excited pet because of unfamiliar visitors. So, make sure all your pets are on a leash, and if your dogs are prone to barking at strangers, put them in an interior room so they won’t see trick-or-treaters at the front door.
Spooky and Safe Decorating
Decorate outside with ghouls, goblins, mummies and tombstones in a way that they won’t tip over or blow away. When considering props, use fake and safe alternatives – rather than anything sharp or heavy.
Don’t become Clark Griswold by overloading your electrical outlets with decorations. Instead, follow manufacturer’s instructions to prevent damage or injury.
Make sure decorations are kept from sources of fire. Avoid open flames altogether and consider LED lighting or battery-operated candles for optimal safety. When selecting decorative lights, check for safety certifications such as UL, CSA, ETL or another nationally recognized laboratory. And don’t drape fabric or crepe paper over light bulbs or you might have a fire on your hands.
The trick to making Halloween a treat for those costumed candy collectors is to have a scary, but safe, haunted house for them to visit.
Whether your fall interior design aesthetic is spooky, sophisticated or somewhere in between, it’s the ideal moment to implement some fresh ideas to spectacularly enjoy the season. If you’re ready to deck out your home for fall, here are five easy, creative ways to infuse fall colors and textures into your décor:
Add Seasonal Wreaths
Not only do fall wreaths add beauty to your front door, they can also add a touch of the season inside your home. Try a playful twist on the traditional fall palette with unique “statement” fall wreaths, which are a must-have this fall. For the crafty, DIY wreaths are a whimsical way to add some vibrancy to your usual autumn décor. Remember, wreaths are versatile! Display a colorful wreath as a table centerpiece or hang it from a pretty ribbon to enjoy it from a different perspective.
Update Pillows
Switch out summer pillows in lightweight fabrics in your family or living rooms for luxe, velvet ones in rich, fall shades. Think burgundy, cinnamon or caramel velvets and warm brown brocades, or classic fall colors in strong hues like burnt orange or exotic chinoiserie red.
Swap Out Rugs
Change area rugs throughout your home, replacing lightweight summer jute rugs with thick, plush rugs in rustic, autumn colors to make rooms look and feel warmer.
Add Flowers
Create a beautiful fall table with distressed and repurposed containers filled with your favorite fall lowers and dark-hued berries. Or make a cornucopia of fall colors by arranging autumn blooms on a chic serving tray. Mimic nature’s fall transformation by introducing dried floral arrangements into your home – adding a rustic vibe to match the season. Add some beautiful fall-colored flowers, like mums or cockscombs, to your front porch or patio.
Cozy Up Outdoors
Make the most of fall’s cooler evenings by creating a small conversation area around a firepit on the deck or in the backyard. Bring out a few pillows and autumn-inspired throws for the chairs and keep a large basket nearby so you can easily bring the linens indoors if inclement weather threatens.
These are just a few of the many ways to fill your home with autumn beauty without overhauling your holiday décor stash.
While smart-home devices can add a considerable amount of convenience and comfort to your home, they can also help you save money on your home insurance. There are a wide range of smart-home devices that you can have installed in your home – everything from smart thermostats to smart speakers. Before you purchase any of these devices, you should know which devices might save you some money.
Policy Discounts
Many insurance providers will provide discounts to a homeowner who installs a smart-home device that’s designed to prevent theft, water damage, or fire damage. These discounts are generally applied to your monthly premium, saving you money every single month. While there are a wide range of devices available to aid in theft and damage protection, the ones that tend to be eligible for discounts are security cameras, smoke detectors, and water leak sensors.
Certain insurers may provide discounts for other devices like motion sensors or smart locks. You should speak with your insurance company to identify which devices will qualify you for a discount.
Device Discounts
There’s also a possibility that your insurance provider has a partnership with one or more smart-home device companies. In this case, the device company may offer reduced prices for anyone who has a policy with the insurance provider. Your insurance carrier can tell you if they have any partnerships that qualify you for smart-home device discounts.
Before you have any of these devices installed, keep in mind that different insurance providers offer different discounts and benefits. Some may offer both policy discounts and device discounts! Speak with your insurance company to see what you are eligible for.
Why Insurance Companies Offer These Rewards
Insurance companies want to incentivize smart-home devices because these devices can mitigate expensive problems. When water or fire damage occurs, your home insurance provider may need to pay out a costly insurance claim. If a smart-home device can detect these issues early, your insurance provider can save money, which is why you’re able to benefit from a policy discount and a potential device discount.
Take a smart water detector for example. This detector is commonly installed near your water heater. In the event a leak occurs, it would emit an alarm and immediately send a text alert to your smartphone. That notification allows you to respond immediately, rather than discovering the leak hours or days later, thus preventing substantial water damage.
Choosing to install smart-home devices in your home can improve your livelihood and help you prevent theft and damage to your home. Doing a little research with your insurance company before you purchase can save you money on top of that.
Sales of O‘ahu Homes Return to Pre-Pandemic Levels Median sales price for condos dips to under $500,000
More than 300 single-family homes and more than 500 condos sold in August, which is near pre-pandemic annual average closed sales per month for single-family homes and above average for condos. Median sales prices remained on pace with recent months, with August’s single-family home median sales price rising 7.2% year-over-year to $1,125,500 and the condo median sales price marking a nominal decline of 0.3% to $498,500.
“As market activity continues to slow with the rise in interest rates, it’s important for buyers to remember that homeownership is still possible,” said Chad Takesue, president of the Honolulu Board of REALTORS®. “More than 250 properties on O‘ahu, most of which were condos, sold for under $500,000 last month.”
While new listings fell 17.2% for single-family homes and 15.7% for condos, active inventory increased 43.3% for single-family homes and 12.9% for condos, though this lags behind pre-pandemic levels. A larger share of new listings remained active at the end of the month – 61% compared to 46% last August for single-family homes and 59% compared to 48% for condos – which is another indication of the cooling market. In both markets, properties that sold in August were on the market for a median of 13 days.
While the warm summer months are great for family vacations and barbecues, the fall season is the perfect time to take part in some fun and festive local activities. Here are some ideas for fun fall activities for you and your family and friends to enjoy.
Go on a Picnic in a Nearby Park
Ahh, the crisp fall air! Mild temperatures and colorful scenery make fall the ideal time to go on a picnic in a nearby park. You can enjoy the changing leaves while eating a million different pumpkin-flavored items and other classic fall treats.
Attend a Local Fall Festival
If you want to get the most out of the cool fall season, think about attending a local harvest or fall festival. Depending on the size of the festival, you’ll get the opportunity to eat delicious fall treats, play family-friendly games, and enjoy some quality time in the fresh air.
Another option is to visit a local farm or pumpkin patch. Many farms will set up corn mazes, hayrides, and petting zoos on weekends during the fall months. You can go pick out your own pumpkin and stay for the fun!
Go for a Nature Walk
Now that the weather is less hot, consider taking a short nature walk once a week. You get to enjoy the fall scenery and get some exercise at the same time. Plus, reconnecting with nature has been shown to reduce stress and boost mood. You can head to a nearby park or seek out hiking trails or open space for a more immersive experience. Always practice safety when venturing outdoors.
Go Camping in Your Backyard
You don’t need to travel long distances or trek into the wilderness to go camping – though that is certainly an option. In fact, you can enjoy all the fun of a camping retreat in your own backyard. Just set up your tent (or borrow one from a friend), bust out the s’more supplies, and you’ll be ready for a fun family night under the stars. Host a Pumpkin Carving Contest
Carving a pumpkin is an activity that people of nearly all ages can enjoy. All you need are some pumpkins and some carving tools. No tools? Make it a pumpkin painting party instead! You can make it a family activity or opt to invite friends and neighbors.
You can keep costs down by asking each person to bring their own pumpkin and/or carving tools. Attendees can take pictures and vote on their favorite carved pumpkins. After the party, consider roasting the pumpkin seeds for a healthy fall snack.
Tailgate a Football Game
Now that most football seasons have begun, you can make a day of cheering for your favorite team by tailgating before the game. Whether it’s a big national team or just your local high school team, lots of fun can be had outside the field or stadium with fantastic game-day food, games, and atmosphere.
Fall is a wonderful season for activities of all shapes and sizes. Whether you want to socialize with friends and neighbors or enjoy some time to yourself you should be able to find several activities to match your interests.