There are Still Great Buys Out There in a Slowing Market

By
Real Estate Agent with Harcourts Island Properties RB-20368

I was fortunate enough to be featured yesterday in 2 articles in the business section of the Star Bulletin titled:

"Distressed isle properties offer value" and "High home prices help offset rising foreclosure rate"

Both articles featured success stories where I was able to find my clients great homes in this market place.  One example was where client purchased a home in Palolo for $440,000 and the other was another couple I just got into an REO in Ewa Beach at a great price with equity in the place from day 1 after closing.  I also was able to purchase for investment a 2 bedroom condo in Diamond Head for $540,000 where the Seller paid $860,000 in 2005! These are real life examples of some great opportunities out there.  And guess what? They were all in MLS! These were not in some "secret foreclosure" website you sign up for and pay a lot of money for.  Nobody had to go to an auction block, stand in line, etc. These are real life examples of how it pays to work with a REALTOR. 

With so much in the media on the national level cutting down the housing market, some of it bothers me & some of it gets me excited because it creates buying opportunites.  There is a quote that someone once told me & I think it stands true today: "You make your money when you buy" as opposed to when you sell.  Keep in mind here however, all of these examples were situations where we are looking to buy and hold.  Don't get me wrong, most of these examples could be sold at a profit today.  However, these current market conditions are not one to be "flipping" properties.  I am a big reader of Robert Kiyosaki and he has been preaching this lately- that the "flippers are losers" If you analyze the investment from this standard, chances are you will come out ahead :)

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Tags:
realtor
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foreclosure rate
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distressed isle properties
condo in diamond head

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Rainer
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Tara Colquitt
Tara Colquitt, The Credit Woman, LLC - Philadelphia, PA
Credit Counselor
You are right on the money David. It is a perfect time to purchase and hold. Or lease/purchase option. 
Jan 28, 2008 08:27 PM #1
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Rainmaker
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David Buck

Realtor-Broker
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