So, your home is in a neighborhood that hasn’t sold much of anything (in fact, NONE) in the past couple of years. You, as a Home Seller may believe that your home is the exception. Of course the home is beautiful with some upgrades but it DOES NOT discount the main point that the market has gone down NATIONWIDE in the past few years---especially in your neighborhood!

Woodcreek in Launani Valley (Mililani)There are many areas of the country, state, county, city, neighborhood where the market is starting to turn around. Many neighborhoods in Oahu (Honolulu County) Hawaii are going up in value just because our inventory of homes is at an all time LOW.  We are receiving multiple offers on properties that are priced right and we KNOW that the reason we have a low inventory is because we just have so much buildable /residential land for homes.  Heck, we’re an island out in the middle of the Pacific Ocean!

The Continental United States has land as far as the eye can see. The cost of living and homes vary from area to area over there. You may not want to hear what your REALTOR® has to say, but it is in your best interests to keep an open mind.  YOUR HOME IS NOT THE EXEPTION to a bad housing market area, no matter what your friends say.

So, why am I comparing the ‘mainland’ to Hawaii?  You may be relocating soon to Hawaii and you are thinking about selling your home that lies in that slow housing market area on the mainland.  You will see a difference in the quick sale of a home here vs. slow going over there. There is NO comparison when the housing market here, and there, are like apples and oranges.

Each and every home is unique…..

But it depends on what area it is in….

To determine the market value.

 

 

*Note:  Mililani 2011 sold 19 homes last year for the month of August compared to 23 sold in August this year along with 43 currently in contract heading towards closing!

                                                       

 

Celeste "Sally" Cheeseman  is a Realtor-Associate® and Certified Residential Specialist (CRS) with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs  she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.

 

 © 2007-2013 Celeste "Sally" Cheeseman's Hawaii Real Estate and Relocation Blog.

All rights reserved.

     

 


 

 

 
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25 Comments on The Housing Market IS Determined By AREA!

20 Most Recent Comments Displayed Show All

SEP
03
547,229 Points 9 Featured Posts Outside Blog Called Shot Master

Sally:

I live on an Island too.  We are also experiencing low, low, low inventory. Yesterday there were 50properties on the market when we would normally have 200 properties.  Price have increased here, about 11% since last June.  A slow stead increase.  I hope the seller are getting the message.
4:16pm • #6
760,924 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

The story is pretty much the same all over the country.  We have incredibly low inventory and buyers scrambling to get one of the few homes that come on the market.  However, that does not mean that a seller does not have to listen to the real estate agent with regards to pricing.  An overprices house is not going to be one that joins the others in buyer scramble.
4:29pm • #7
1,113,901 Points 115 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Sally we're seeing the same thing in the Phoenix market - in the low to mid price range.  Upper range over 1M is still slow with smoking deals to be had and a lot of inventory.
5:00pm • #8
864,437 Points 18 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Even in a particular state, some markets are better than others.  It can be very confusing to sellers.  However, it is important that they have a true picture of what is happening in their local market/town.
5:03pm • #9
1,523,127 Points 162 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

All real estate is local and Hawaii local is a bit smaller than waht some of us deal with everyday.
5:06pm • #10
1,651,981 Points 134 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Absolutely.. and it seems that properties do not last long where you are. 

 
6:31pm • #11
520,070 Points 25 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Sally oh if only our clients would listen to us instead of Zillow or some of the other "experts".  Maybe their uncles, cousins, and parents that know all about real estate because they have owned a home before.  
7:02pm • #12
332,423 Points 6 Featured Posts Called Shot Master

Sally we here in Central Ca are seeing the same low inventory and multiple offers.    Of course ALL real estate is local.   Now isn't Hawaii making more land, or at least aren't the volcanos making more land?  
7:19pm • #13
758,607 Points 105 Featured Posts Outside Blog Called Shot Master

Sally, we are seeing that here as well. Buyers are moving here thinking that our market is similar to the market they came from. That mindset will surely lead to buyers getting outbid on several homes. Better to adjust to this market so they can find the home of their dreams.
8:31pm • #14
940,760 Points 26 Featured Posts Outside Blog Attended Rain Camp

There are Realtors like yourself that dominate their market because they know the numbers.
8:50pm • #15
SEP
04
801,299 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Every market is different...even within a market.  Local knowledge is key when relocating from out of the area.
4:53am • #16
1,123,668 Points 90 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Yes all real estate trends are local. Our area went down in the recession but not as bad as some other parts of the country. We are even now seeing some bidding wars!
6:34am • #17
483,820 Points 5 Featured Posts Localism Sponsor Called Shot Master

Very well said! Hopefully your buyers will take note of your expertise regardless of what went on back at home. If not likely they'll be disappointed, and several times before they realize you were right.
6:35am • #18
836,582 Points 69 Featured Posts Outside Blog Called Shot Master

Local markets require local agents that can make all the difference when transacting for optimum values
7:16am • #19
624,993 Points 1 Featured Post Outside Blog

I agree with you that's important for agents to cut through all the noise and let sellers no the real value of their homes. We are experiencing a real inventory shortage like many places in the country. 
7:21am • #20
312,780 Points 3 Featured Posts Outside Blog Called Shot Master

Excellent point! Too many people think of real estate on a more general playing field.  My husband just said it the other day I had reruns on of love it or list it and they were showing the price points for the homes the buyers were viewing.  He turned and said "wow it really is different everywhere, that home here would cost $$$ not $$$$ " and there you go! local is the only way to go and get correct information 
11:15am • #21
SEP
08
619,969 Points 8 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great point Sally, here in Manhattan New York, depending on the neighborhood, many desirable condos are receiving multiple bids over the asking price without any negotiation rooms and some others can still be flexible with prices.
6:39pm • #22
SEP
09
970,243 Points 245 Featured Posts Localism Sponsor Outside Blog Called Shot Master

@ Richie #19  Simply put and OH SO TRUE!!   And that is why we refer other agents in another state to service the client who is in that area. 

 

I think we all agree that the neighborhood (not just the state, county, city etc) determines the market.  There is no exeption to any one home in a particular neighborhood.  If it's a great market ...then multiple offers are coming in...if not....  Well, the most famous advice I can give is.....  THE PUBLIC SPEAKS.  If there are no showings at all....it is most likely priced too high.....or other factors....  like hanging on a cliff where the stilts have wood rot lol
10:24am • #23
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15
1,343,108 Points 71 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Happy, Happy Birthday to one of my favorite ActiveRainers! May your day and new year of life be full of health, happiness and may all your wishes come true!
6:41am • #24
SEP
16
353,701 Points 19 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Sally-We discuss how the San Antonio market differs from the Dallas or Houston market so dramatically and we are all in the same state. So there's just no way to compare someones home market in Texas to HI. Difference between night and day. Get help from a local HI REALTOR to get the real deal on happening there.
9:18am • #25

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Celeste "SALLY" Cheeseman RA CRS HAWAII Mililani Oahu Real Estate

Mililani, HI

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Century 21 Liberty Homes

Address: 95-221 Kipapa Drive Ste. E-3, Mililani, HI, 96789

Office Phone: (808) 625-1776

Cell Phone: (808) 375-1404

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Reading my blog will give you the human side of this Real Estate Industry Professional as well as allowing you to walk beside me through my writing about Hawaii Real Estate & our Local Area. As a resident of Honolulu County Hawaii for 42 years you will get a tour of a lifetime. Specializing in Hawaii Relocation Military VA Home Buyers you can be rest assured you will be in good hands. I LISTEN to YOUR needs and give you sound advice. Hawaii Relocations, Hawaii Military Relocations, Mililani Hawaii Real Estate, Living in Hawaii, Army Navy Air Force Marines in Hawaii. Read more at www.cheesemanhomes.com


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