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We have kind of an interesting development on Oahu concerning single family home sales.   Last month, single family sales fell more than 16 percent according to the Honolulu Board of Realtors.   With Prices holding firm, it appears as though we are going to run into increasing difficulty closing sales at current asking prices.   The key to making a sale will depend on our clients being willing to reduce the price slightly, or even more than slightly.   I am not sure this will be good for the market, but it increasingly appears as though our sellers will have to give a little if they want to sell their home.   Considering that many sellers are still living in the homes though, they may not be willing to make these price reductions.   In which case, we can probably expect further difficulty in closing sales whether we are working as buyers representatives or sellers representatives.   This is why it is so interesting.   We are going to have to exercise uncommon patience in waiting this market out.

RE/MAX Kai Lani - 25 Kaneohe Bay Drive #109, Kailua, HI 96734

 
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6 Comments on Oahu Home Sales Info

I was surprised to see that report today.  September showed us with the largest price increases in the nation for the previous 12 months.

12/03/2007 07:37 PM by Randy L. Prothero - Hawaii REALTORĀ® (Century 21 Liberty Homes)


Thanks Randy, I have to admit when I opened the Stat Report, I did a double take.   This could be a seasonal thing as November, December and January have a tendency to be a bit funny sometimes.   Jerry

12/03/2007 07:42 PM by RE/MAX Kai Lani


Greetings from a fellow RE/MAX agent at the opposite side of the US in Stafford County, Virginia. The market is very challenging here, as well.

12/03/2007 08:51 PM by Kenny Franklin, REALTORĀ® ~ Stafford, Virginia (RE/MAX Supercenter)


Hi Kenny; I think you guys are having a harder problem than we are.   This turn though put a spin on the situation that I had to think thru when I looked at the stats this morning.   Thought I would share my observations on Active Rain with everyone in Hawaii most particularly, but it pleases me to hear from another RE/MAX Office.   We had a great presentation here last month by David Linigar and Margaret Kelly.  It was absolutely GREAT to have them in Honolulu.   It was a first for them.   Jerry

12/03/2007 08:58 PM by RE/MAX Kai Lani


It seems that selles are going to have to come down in their prices.  We have the same situation here.  Sellers that want to get what they could have gotten for their house a year or two ago.  Unfortunately, it's not the same market.

I guess the silver lining for you.... you're in Hawaii!!  Isn't everything just better?

12/04/2007 01:39 PM by Martin Abeshaus (ZIPVO)


Martin,  I was speaking today with a Commercial Property Manager and we talked about two wild cards:  1)  What is the government (FED) going to do with interest rates?  2)  How long is it going to take before the international community figures out how much they can buy with their highly valued currencies!   All that said, Hawaii is still Paradise, although we had some really tough winds here last night.   Hmmmm?   Jerry

12/05/2007 04:09 PM by RE/MAX Kai Lani


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Real Estate Brokerage: RE/MAX Kai Lani
RE/MAX Kai Lani
Kailua, HI
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RE/MAX Kai Lani

Office Phone: (808) 237-5300
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This is a company BLOG for RE/MAX Kai Lani of Kailua, Oahu, Hawaii. The BLOG is designed to provide information on the Real Estate Market and Home Rental Market in Hawaii. We have a fantastic Web page at www.remaxkailani.com. Check out our Links! There is something for everyone.


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