Yes, we all are experiencing some difficult times as the rest of the nation but you, the buyer, need to be informed properly so when you are looking to purchase that Home in Hawaii you will know that KILLER NEGOTIATING WILL CAUSE YOU TO LOSE THE HOME YOU LOVE!
In Killer Negotiating & Losing the Hawaii Home You Love! I started with how our market differs locally and not nationally. The media has depicted a dreary look for the NATION...not for every market and especially different neighborhoods. But Hawaii has prevailed with only a small portion of subprime loans during the booming months. It was a conscious decision that kept our banks solid here but also saved many Oahu Homeowners from losing their homes.
On Oahu our neighborhoods are very dense and the market can differ from neighborhood to neighborhood. That IS a fact.
NOW FOR THE GOOD NEWS!
Oahu's housing market statistics (from our Honolulu Board of Realtors) show that our sales prices rose from the month of September and they clearly show the strength in our Oahu Housing Market for the month of October. Though median prices do not depict a clear neighborhood picture it gives an overall birds eye view of how our small island differs from month to month as well with median sales prices.
Condominium/Townhouses sales prices rose from $296,000 for the month of September to $325,000 for the month of October and shows a 9.8% increase. Single Family homes sales prices rose from $590,000 to $625,000 and shows an increase of 5.9% from September to October. I'd say that was impressive even with the slower number of sales. Prices are holding steady here on Oahu and it shows a steady market.
Both buyers and seller really need to STOP LISTENING TO THE MEDIA and the advice of your 'expert' family about those "NATIONWIDE" statistics!
Both buyers and sellers need to listen to their REALTORS® expert advice for local housing market statistics and advice.
© 2008 Celeste "Sally" Cheeseman, All rights reserved
Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents. Website: www.hawaiihomesmarket.com