Honolulu

I find so many buyers still on the fence who say they are “waiting for the market to bottom.”  Well when is that?  Answer is, nobody knows.  The only time you can identify a bottom, is after the market has gone back up.  Then looking back you can see where the bottom was.

I wonder if we may have just passed that bottom, or at least be just about at it on Oahu.  As of today, June 23rd 2009, we have closed 189 single family homes on Oahu this month according to the MLS.  That is HIGHER than the 142 closings as of June 23rd last year.  So does that mean we hit the bottom?  After months of 30% plus declines over the previous year, June so far is UP 33% over last year.  What do you think?  Is this just a fluke month, or is this the beginning of the turn around?

Yesterday I found some interesting numbers while searching home sales on the island so far this month.  As of June 10th, we have closed more single family home resales on Oahu for the month than June of 08.  Open house traffic on Sundays has really picked up!  We had a listing in Kailua last week that come on the market and had 11 offers in a matter of days!!!  When the deals pop up, the buyers are ready to pounce.  If you are considering a home purchase, make sure you are working with a top realtor like myself.  If you want to get the best deals, you need to be the first to konw about them when they come on the market.  That is what I do

For prospective sellers, there is a lot of competition out there.  If you aren’t priced right, getting the best marketing available, and working with an agent with top negotiating skills, your odds of selling in this market are not good.