Katie Minkus's Q&A

Aloha. I recommend you go to the local banks - BoH, American Savings, 1st Hawaiian or the local credit union. Good luck! km

Aloha, Maui Mommy. I have no idea how Zillow does their zestimates, however, if you want the most accurate current market value of your house, I would be happy to recommend an incredible Realtor to you on Maui who will provide you with the latest sold comps and a Broker Price Opinion on your unit.[content removed by moderator for being self-promotional]

Aloha, Terri.... My name is Katie Minkus and I'm the Broker-in-Charge of Hawaii Life Real Estate Services on the Big Island.  If you post or email me your address and/or full name, I will be happy to send you a competitive market analysis. katie@hawaiilife.com 808-895-4327. http://www.hawaiilife.com/big-island-real-estate/

Aloha. My best advise to you is hire a local Realtor to represent you as a Buyer, and DO NOT try to buy directly from the listing agent - that puts you in a precarious position as the agent will have to "be neutral" which means they won't be able to give you any pricing or negotiation advice, through the entire process! I work on the Big Island, but have several colleagues on Oahu I'd be happy to recommend to you. Please email me or call direct if you want an introduction. katie@hawaiilife.com, 808.895.4327. Warm aloha, Katie Minkus, R(B).

Aloha, Ginni... Have you visited the Big Island?? Our prices are VERY reasonable compared to Maui!!! Let me know if you want more info!! katie@hawaiilife.com

Aloha, Leisele... I cannot speak for Michigan as Hawaii is where I live and practice real estate but assuming your market is still trending down, this is actually a quite common scenario. When a market and prices are trending up, sellers, buyers and lenders will look at every last improvement, every last point of differentiation possible to assign more "value" to your home compared to others, to justify a higher price point. However, when prices and the market are trending down, things like additional land, a two-car garage with a workshop, granite countertops in the kitchen, all of these things don't add "value" or "price" to your house, they are simply considered to be a "bonus" such that your house will show better than the competition and will sell first. In a downward trending market, when your neighbor's house that is similar, but not as nice, sells for $300k, you'd better list your house for $295k because prices and value are dropping. In an upward trending market when your neighbor sells their house that is similar but not as nice for $300k, you put yours on the market for $325k. Does that make sense? I know, it's completely unfair, but this is the reality in my market, and I'm guessing is what's going on in yours as well. As for Zillow valuing your house? Not to dish the Zillow folks, but if you want to know the true value of your home in today's market, please consult a local professional appraiser or Realtor. Your local professionals will do a much better, more thorough valuation for you than a computer-generated website valuation. Do let me know if you need an introduction to someone in your area, I would be happy to assist you in that way. Good luck! Warm aloha, Katie Minkus, R(B). katie@katiminkus.com