Hawaii Real Estate 2012

I'm going to go out on a limb here and say that this year is going to be a really great year to buy or sell Real Estate in Hawaii.

Why, you ask? Well, with sales prices remaining low in most areas of Hawaii and interest rates ridicoulsy low how it could it be bad? Some want the market to drop even more and well that will be scary. For the market to drop even lower something bad is going to have to happen. I'm for no bad things happening.

Although the market on the mainland is still sliding in many areas there are some just like Oahu that are actually recovering nicely. This means that some areas like Manoa, Kailua, and Hawaii Kai have been slowly recovering value or holding their own. Other areas such as Ewa Beach, Kapolei, and West Side are still seeing prices drop due to the large inventory of homes still available either by short sale or lender sales.

The areas where prices are still dropping are perfect opportunites for first time home owners. Of course we all want to buy when the market is at the bottom but you don't know when the bottom has been hit until it is actually on the up swing which means you missed the boat. If you are planning on buying and living in the home for five to ten years then you don't need to worry too much about finding the bottom. If you are planning on selling sooner than this then... yes, be very careful.

I bet when you read "selling" in the first paragraph you may have laughed or snickered. Prior to understanding the market I might have too. However, I have to say it is a good time to sell and possbily move into a bigger home or a home closer to work... well that is if you bought in the early 2000's and didn't refinance your home to the hilt when interest rates dropped.

Yes, you will get less than you could have prior to 2008 BUT you are also going to be BUYING a home that has been devalued a bit as well. Interest rates being what they are you will most likely qualify for more as well.

This market is ripe for those who planned carefully, lived frugally, and are ready to take advantage of it.

Lets rock and roll...