Buyers have taken action this summer, submitting offers and taking advantage of the market. Some of the drivers getting buyers moving are:
- Low interest rates
- $8k homebuyers tax credit
- Falling home values
Even with price declines seen over the last few years, many buyers find it difficult to find a house in Honolulu that's in their price range. Well, there ARE deals available, it may take some searching outside of the traditional favorite neighborhoods.
Areas such as Kaimuki, Kapahulu and Hawaii Kai are desired by many people. When they see the lower priced homes with 1,000 square feet of interior area selling for $550,000 and up they wonder where the deals are?
Kalihi Uka has some great homes available in the high $300's to mid $400's. Understand that these prices are not for new, top notch condition homes. You CAN get a sweet deal on a home that's in need of some work.
We currently have a house for sale on Murphy Street, MLS 2909334. Originally listed at $360,000, the price was reduced to $335,000 on 10/19/09.. In today's market it's a great price for a home of this size. The house is owner occupied, in time it WILL need some TLC. This is probably best suited to a contractor.
If you're interested in seeing it, please e-mail or call Mike at (808) 548-1220.
Mike Bates (RA)
Coldwell Banker Pacific Properties
1909 Ala Wai Blvd #C-2
Honolulu, HI 96815