In the last few weeks we have seen a surge in business in Mililani and the surrounding area.
Our office had two townhouses for sale. One was on the market for a little over a year and the other nearly 6 months. They were just sitting there with very little interest and then it happened. At the same time they both received multiple offers and went into escrow. Ok I know that is not scientific, but let's look at a few more.
On the first of the month 3/1/07, I listed a 3 bed/ 2.5 bath townhouse for sale in Laulea. My clients were still moving out and we were putting in new carpet. We did not have showings until last Wednesday starting at 10:00am. That afternoon I already had multiple offers pushing it over asking price. In Mililani Garden Homes 1 another agent from a neighboring Century 21 office had a listing that was the twin brother to the one I am selling in Laulea. I checked that day to find his was scooped up also. The beginning of the year these properties were just not moving.
In the last few weeks I have also noticed inventory in Mililani has come down some.
Today 3/14/07:
Townhouses Sales
- 111 Active for Sale
- 63 In Escrow
- 218 Sold in last 6 months
Single Family Homes
- 88 Active for Sale
- 44 In Escrow
- 142 Sold in last 6 months
We have now dropped to 2 months inventory, making it a sellers market again in Mililani.
What are some of the forces pushing this new positive movement? Interest rates are low. The homes construction is almost completely built out in Mililani Mauka. We also have the Striker Brigade coming to Schofield Barracks. The 2nd Brigade is still in Iraq. When they return there will be another big pressure on our housing inventory. At least for the short term things are looking up in Mililani.
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Randy L. Prothero, REALTOR®, ABR, AHWD, CRS, e-PRO, GRI, SFR
Century 21 Liberty Homes
Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers. His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.
Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) and the Leeward Regional Chairman of the Honolulu Board of Realtors. To improve overall professionalism in his area Randy also offers classes for real estate agents.
www.HawaiiRandy.com * Oahu (Honolulu County) Property Search * Hawaii Military Relocations
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