Kamuela, HI – November 3, 2009

Parker Ranch Realty, Inc. and Clark Realty Corporation, two local companies with a long and successful working relationship have agreed that on December 1, 2009, Clark Realty will acquire the assets of Parker Ranch Realty.

Parker Ranch, Inc.’s Chief Operating Officer Bill Maris stated that “This change is part of the overall strategy as Parker Ranch, Inc. transitions out of its non-core businesses including general real estate brokerage. The Ranch is quite pleased that a strong kama‘aina company such as Clark Realty has stepped forward to acquire these assets.”

Clark Realty is one of the largest independently-owned real estate brokerages in Hawai’i. It is also the largest real estate firm on the Big Island of Hawai’i and in the top 10 statewide. With more than one hundred thirty agents, eight full-time property managers and twenty-three administrators and staff, Clark Realty offers complete coverage of the Big Island and all aspects of real estate.

Putman D. (Putty) Clark, R – President & CEO of Clark Realty Corporation said “We are very excited about the opportunity this acquisition represents. It brings together some of the most talented Realtors on the Big Island and will strengthen Clark Realty’s presence in a very positive way. We are equally pleased about completing this transaction with a company with the strong culture and traditions of Parker Ranch, Inc. This is a win-win relationship for everyone.”

With the acquisition of the assets of Parker Ranch, Realty, Inc., Clark Realty will continue to be the market-share leader on the Big Island with six offices island-wide at locations in Kailua-Kona, Keauhou, Kamuela, Hilo and The Mauna Lani Resort. Clark Realty’s Kamuela office will move from its current location to the Parker Ranch Realty space at the Parker Ranch Center. Clark Realty offers a full range of real estate services including residential sales, property management and commercial real estate sales and management services.

Parker Ranch is the fifth largest ranch in the United States, spanning approximately 130,000 acres across Hawaii’s Big Island. It surrounds the town of Waimea and spreads between the Kohala and Mauna Kea mountains. The ranch is owned by the Parker Ranch Foundation Trust for the benefit of four local charities: North Hawaii Community Hospital, Hawaii Preparatory Academy, Parker School Trust Corporation and the Richard Smart Fund of the Hawaii Community Foundation.

Contact:

Diane S. Quitiquit
Parker Ranch, Inc.
808.885.2302

Penny Pagliaro
Clark Realty Corp.
808.936.6572

DAYNA ODA-KELL, R(S)
Clark Realty Corporation Hilo Office

CLIENT TESTIMONIAL:

“I’m glad to hear the flowers and fruit basket made it to you and you liked them. I really, really, really appreciate all the hard work you put in for me. You’re the epitome of a dedicated professional; but more than that, a great person to have the opportunity to get to know. Tell your family thanks for the Sundays and evening hours when you spent time giving me guidance and insight while searching for the home I wanted. Also, thanks for your patience. You really made me feel
comfortable throughout the entire process.”

Rob Stephens
Hilo, HI

Kailua-Kona, October 12, 2009:

Clark Commercial Group, a division of Clark Realty Corporation, announced today that it has signed leases or is in negotiation for leases on all commercial space at Coconut Grove Marketplace, a multi-building retail center on Alii Drive in downtown Kailua-Kona.

“Out of 48,000 plus square feet,” said Greg Ogin, president of Clark Commercial Group, “there’s only one small office space still unclaimed. That gets us to 98% occupancy. Given the economic climate, we’re very pleased.”

Just over a year ago, Coconut Grove Marketplace stood 60% vacant. Hard Rock Cafe and Sunglass Hut had moved out along with other retail tenants, leaving the facility with major economic problems. Soon, the property went into receivership, a victim of the sluggish economy.

Clark Commercial Group took over the leasing operation in June, 2008, and quickly began to turn the property around. Its efforts paid off when Humpy’s Great Alaskan Alehouse, based in Anchorage, leased the 6,000 square foot space vacated by Hard Rock Café. The Coconut Marketplace venue will be its first location in Hawaii. Humpy’s has been credited with the revival of downtown Anchorage since its opening over 15 years ago. In 2009, it was again voted Anchorage’s favorite bar by readers of the local newspaper.

“Humpy’s is a place tailor-made for beer lovers, by beer lovers” said Jeff Foster, Humpy’s Director of Operations in Kona. “We believe in good food, good company and, of course, good beer, all at a great price. Since our specialty is seafood, beer and live music, Kona’s a natural.”

The restaurant is scheduled to open by the end of 2009.

In addition to Humpy’s, other new tenants include Tropical Frozen Yogurts, Big Island Running Company, Creations by Claudia, Sakura’s Specialties, The Look, Colors of Paradise Gallery and Clint Sloan Gallery.

For more information, contact:
Penny Pagliaro, VP, Director of Marketing
Marketing Division
Clark Realty Corporation
Phone: 808.887.2900
Email: marketing@clarkhawaii.com

Article contributed by :
Frank Goodale, R, CRB
SVP, Corporate Services – Clark Realty Corporation

When certain conditions are met, family money may be the best source of mortgage money for a child’s or grandchild’s home for two primary reasons. The first is that the parent can enjoy interest rates significantly above what is commonly available to them in today’s market, while the child can enjoy interest rates substantially below what is commonly available for a mortgage. The second reason is that this can be a simple, flexible, tax advantaged way to transfer inheritance to your children or grand children.

That being said, this is definitely not for everyone and requires solid financial guidance from a qualified estate or financial planner.

Depending on the length of the mortgage, the interest rate could be as low as 2.63% and could be increased from there depending on the needs of the parent and child. Tax advantaged inheritance goals can also be accomplished by forgiving portions of this debt each year, being careful not to exceed gift tax maximums. Depending on the number of people involved this could amount to as much as $52,000 per year where both parents are gifting to their child and spouse.

It goes without saying that the parents must look out for their own financial best interests first and must have trust and confidence in their heirs’ stability and ability to meet their financial obligations. Fortunately, a properly secured mortgage can offer significant protections to the parent’s assets; however, parents still have more of a need to be cautious and prudent than the bank when considering this alternative.

There are many other important concepts and considerations that must be reviewed with an expert financial or estate planner before anyone should consider this option. However, the rewards can be significant for both parent and child and are well worth considering, especially during our current buyer’s market where pricing is becoming so attractive.

P.S.  I forgot to mention; the interest payments the kids are paying to Mom and Dad can also be tax deductible!

DOZENS OF OPEN HOUSES!

Just in time! Clark Realty is conducting a massive Sell-abration with over 35 open houses being held on Sunday, September 27th – from 12noon to 3pm. First-time homebuyers will find this weekend marks the final days for taking advantage of the $8,000 federal tax credit. While the official deadline for completing a sale is not set to expire until November 30th, 2009, it typically takes a first-time buyer 60 days to complete the sales process from the day the sales contract is approved.

First-time buyers who have been virtually locked out of homeownership opportunities for more than 5 years now have the added advantage of historically low interest rates and prices that have been dramatically reduced over this past year. Agents have already noted a brisk uptick in the market and expect this improved climate to continue as the national economy continues to stabilize.

A preview of listings and associated location maps are available now at http://www.clarkhawaii.com/sellabration.

by Cynthia Hoskins, R(S), Social Media Liaison
Clark Realty Corporation Hilo Office

While Craigslist can be a valuable resource for many purposes, there is a downside to the free service that can impact home sellers and potential renters. The number of rental scams being perpetrated on Craigslist is increasing at an alarming rate. Unfortunately, some of these scams involve homes that are listed for sale by legitimate sellers and real estate brokerages. Here is one possible way the scenario unfolds:

• Scam artists troll the internet for properties listed for sale, either For Sale by Owner or by a licensed Realtor, and then create a counterfeit Craigslist posting (with a sham email address) offering the property for rent, usually below market value for the area.
   
• Prospective renters, searching Craigslist for homes to rent, reply to the bogus email address that has been set up by the scam artist requesting information.
   
• The scam artist responds with written instructions for applying to rent the home or for viewing the home, usually claiming to be out of the country.
   
• Prospective tenants who proceed past this step are then given instructions for wiring money to an account created by the scam artist.
   
• Eventually, the prospective tenant realizes he or she has been misled and usually there is very little chance of getting any money back.
   

The owner of a seller-occupied home targeted by such a scam may be alerted to the fact by an unusual amount of traffic driving by the property. Or, a listing agent may begin receiving calls from prospective renters who driven by the home only to realize that there is a legitimate real estate “For Sale” sign posted on the property. In either case, it is difficult to trace the origins of the Craigslist ad, so reporting the post is often the only recourse a seller or listing agent has in the short-term.

There have been several recent occurrences of this rental scam on the Big Island, so Hawaii is not immune. Here are some steps that may be taken by home sellers and prospective renters to avoid being caught up in one of these scams:

• Sellers: Set up a Google Alert (or notification of your choice) using your street address as the key word. Monitor your email account for alerts that your address has appeared on a website other than bona fide real estate sites. Investigate any unusual notification you receive and, if you find that it is on Craigslist, follow up to be sure the post is removed.
   
• Sellers: Be sure your agent’s sign remains posted and easily visible. This will indicate clearly to anyone driving by that you are represented by a local real estate brokerage and will give them a contact number to call.
   
• Prospective renters: Keep in mind the old adage: If it is too good to be true, it probably is. Investigate carefully anything you see posted online, especially if email you receive is written in poor English and from someone claiming to be out of the country. Most importantly, never send money or give your personal information (social security number, etc.) to an unknown party based only on an internet posting. Renters are encouraged to check the backgrounds of prospective landlords just as carefully as legitimate landlords are likely to check yours.

If you are a seller and have questions or concerns about a listing you have with Clark Realty Corporation, please contact your listing agent for more information.

Check out this YouTube video to see what’s been happening in other states:

DANA DREXLER, R(S)
Clark Realty Corporation Kailua Kona Office

Welcome New Agent Dana Drexler, R(S) to our Kailua Kona Office

Clark Realty Corporation is proud to announce Dana Drexler, R(S) as a new team member in our Kailua Kona office. A Chicago native, Dana has a diverse background which included working in her family’s restaurants to decorating and furnishing lavish homes along the Lake Front. Earning her Bachelor’s degree in Liberal Arts and Science from DePaul University, she then passed on the knowledge by teaching there as well.

Prior to joining Clark Realty in Kailua Kona, she ran Ho’ala Hot Yoga studio on the island. Dana’s extensive yoga experience has included training celebrities, traveling worldwide and training clients all over the Big Island.

She believes that “life is too short” not to enjoy every moment and that the biggest statement you can make, is by “being the change you wish to see in the world!”

Dana’s commitment to teaching allows her to provide outstanding, client-centered service, with a focus on finding what is going to make both buyer and seller enthusiastic about the transaction.

Dana can be reached at 808.756.4704 or Info@DanaDrexler.com.

DAWN R. CLARK, R, GRI
Clark Realty Corporation Kailua Kona Office

CLIENT TESTIMONIAL:

“Calvin and I are very appreciative of Dawn’s continued professional service. She is one of the best real estate agents we have ever met.

Dawn has been so consistent dealing with this short sale, there is so much work involved and she always displays great patience! We always tell people that we have the best agent in Kona, HI helping us.”

Lihua Chiang Lennox
Portland, OR

As part of our continued efforts to reach out to our local community and beyond, Clark Realty Corporation is pleased to announce that we have contracted with Cynthia Hoskins, R(S) from our Hilo office to join us in the role of Social Media Liaison.

Experts in field of Marketing and Public Relations are emphasizing that businesses must recognize Social Media as a powerful tool in communicating a company’s corporate identity to the community and receiving valuable feedback from the public. Clark Realty Corporation recognizes the growth and potential of the Social Media phenomena and it is our purpose to move into this new territory strategically, maintaining the integrity and aloha for which we are known.

Cynthia brings to this role significant experience in various aspects of Social Media as well as a background in education, management and, of course, real estate. She has been participating in forums related to Hawaii and Hawaii real estate for nearly three years and has built relationships with a number of participants in the internet blogging community, locally and nationally. You can get to know her better by following her on Twitter @Cynthia_Hoskins

Cynthia works under the direction of our Director of Web Services, Susan Chouinard. Cynthia and Susan are the faces behind @ClarkRealty on Twitter and our Facebook page http://www.facebook.com/clarkrealty

We look forward to interacting with you through these new venues and we invite you to explore our website to learn more about the services provided by Clark Realty Corporation and about real estate on the Big Island of Hawaii: http://www.clarkhawaii.com

The First Time Home Buyer Credit is an $8,000 credit that you can claim if you have not owned a home used as your primary residence within the last three years. The credit is made possible by the American Recovery and Reinvestment Act of 2009.

The catch is…to qualify for the credit, your home purchase must be made by November 30, 2009. In other words, the escrow must close by November 30-that’s less than 90 days away!

So why the urgency?

You may be seeing commercials or other advertising by real estate and mortgage professionals insisting that you should “Buy Now” if you want to take advantage of the credit. Realtors who are familiar with recent changes in lending practices are aware that escrows are taking longer to close in the current economic climate. If you are ready to purchase and you are hoping to claim the First Time Buyer Credit, the clock really is ticking! Typically, the rule of thumb for an escrow period is 45 days, but right now, there are often unexpected delays as lenders are dealing with changes in the rules for securing appraisals.

Arabel Camblor, President of the Hawaii Island Board of Realtors, puts it this way: “Realistically, if you want to take advantage of this $8,000 credit, you have about 30 days to open escrow on a property.” She also adds that buyers who qualify for the credit should not miss the opportunity to take advantage of the low interest rates available now. “It’s the Perfect Storm,” she says. So, if you qualify as a first time buyer and you are ready to purchase, don’t let this opportunity pass you by.

The countdown really is on!

For more information, visit:
http://www.irs.gov/newsroom/article/0,,id=204671,00.html