Considering buying a New Condo in Honolulu?

By
Real Estate Agent with HI Pro Realty LLC RB-21531 RS-76763
https://activerain.com/droplet/4GGT

HI Pro Realty advises getting pre-approved for your home loan.

 

In the endangered world of the Hawaiian Monk Seal, haul out space is limited so competition can be fierce for the best spots on the beach. When it comes to New Construction in Honolulu, the same can be said for buyers, anxious to secure their piece of paradise in their price point. 

 

Many seasoned and first time homeowner hopefuls are worried they will soon be outpriced if they don't act soon in making an offer for a new Honolulu condo. To make matters worse they are facing long lines at the sales offices for new development and often find themselves shut out of the lotteries conducted to handle the large volume of price sensitive homebuyers. Ugh! What is a Honolulu buyer to do?

 

For starters get PRE-APPROVED for financing BEFORE you even start looking for that new condo in Honolulu. Why? because that is what will get you eligible for the Kaka'ako condo lotteries and allow you to stand in line with confidence knowing that at least you will not be turned away at the door of the condo project sales office because you were not prepared to sign a purchase agreement the moment you step through the sales office door. If you are not prepared with your financing in advance, forget buying a new condo in Honolulu without cash in hand.

 

HI Pro Realty LLC is here to guide you through the proccess, step by step, so you too can achieve homeownership in Honolulu. Don't miss out, call us today so we can start planning for your future home tomorrow.

 

 

 

 

Contemplating buying a New Condo in Honolulu?

 

Call Today - (808) 941-8866

 

 

 

 


 

Posted by

                                            HI Pro Realty - PET FRIENDLY HONOLULU REALTOR, PROPERTY MANAGEMENT

 

HI Pro Realty LLC - REALTORS®, PROPERTY MANAGERS® is a boutique brokerage firm offering responsive, dedicated, and professional Real Estate Sales and Management Services in Honolulu, Hawai'i. 

 

 

 

 

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Topic:
Home Buying
Location:
Hawaii Honolulu County Honolulu
Groups:
Active Rain Newbies
Realtors®
Hawaii's Home Brokers
Hawaii Real Estate Professionals
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Tags:
kakaako development
kakaako condos for sale
kakaako condo lotto
preapproval for a home loan
buying a new condo in honolulu

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Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Wow, your condo market got to be crazy, if you have such problem. We are slow... Oh, well

Jul 29, 2015 06:53 AM #1
Rainmaker
758,371
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Jon, pricing for two bedrooms under a million is the challenge for local buyers and one bedrooms under under 500K, when it comes to New Construction. 

Jul 29, 2015 07:05 AM #2
Ambassador
1,723,527
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Wow, wow, wow. What difference location means in Real Estate. Of course, I understand that the cost of construction on the islands is higher than on mainland, but like in our area, more expensive condos are for out-of-state buyers only...

Jul 29, 2015 07:21 AM #3
Rainmaker
758,371
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Jon, it's a bit of a catch 22, luxury condos subsidize affordable housing so the luxury units are built first driving up the median sales price and construction costs so when it's time to build the affordable housing it's really not that affordable and the pricing, though lower than the market rate, is still too expensive for the majority of buyers. It means we have top heavy inventory and those who are not in the ultra-luxury market have to scramble to get whatever is available in the under a million market. Of course the developers are always selling to maximize profits so they are strategizing on how to release inventory in such a way as to drive up demand and sell as many pre-construction units as possible.  Unfortunately as you mentioned the majority of sales is aimed at the investment market. In Honolulu, Asian investors, are almost exclusively courted for these properties, so much so, it's not unusual to find promotional material printed only in Japanese and Chinese. There is also the push for foreign investors to receive green card status through property ownership. This ultimately displaces the local population with flighty investors. 

Jul 29, 2015 08:25 AM #4
Rainmaker
1,143,971
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

IN our market you cant even get an agent to take you looking unless you have been pre-approved and thats the way it should be. Get serious or waste someone elses time

Jul 31, 2015 02:38 AM #5
Rainmaker
758,371
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha David, most buyers skip the Realtor and go right to the sales office only to find out they needed to do a lot more homework if they wanted to by a unit in their price point. Unfortunately, by the time they figure this out it's usually too late for that particular building. Many buyers don't realize the strategy and timing required.

Jul 31, 2015 04:24 AM #6
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Kimo Stowell

REALTOR Associate® RS-76763 - Honolulu Hawai'i
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