It was in the newspaper today, Trulia's blog yesterday, and noted in the Honolulu Board of Realtors posted statistics on market conditions.  If you are anywhere on the mainland or on the islands - prices are going up.

With today's low interest rates and the shortage of inventory (yes. sellers are waiting as long as they can to come to market hoping for higher prices) the competition is fierce for properly priced homes.  In Kailua, Kaneohe, Hawaii Kai, Kahala and Waialae areas there are few short sales so the prices have remained steady through the latest recovery and are now rising  due to that shortage of inventory in the $650,000 to $1,200,000 range.

In Leeward and the Ewa Plain areas there are still Oahu's preponderance of short sales and foreclosures.  That pressure has slowed price increases but they are starting to rise.  The only question is will the change in the foreclosure laws under review by the legislature increase the foreclosed homes brought to market or not.  That would have an effect of dampening a rise in prices.

So for now, keep an eye on the market and closed sales. Watch current rental values, as they rise so does the demand for home ownership - both by investors who can get a positive cash flow, and by home buyers for whom rent is now more expensive than buying.

Call today for help in finding great value homes - short sales, investment, second or vacation homes, any type of residential property - we have the market knowledge you need.  Kate Braden (B) R PB 808-265-6803