Honolulu County Real Estate | Oahu Housing Market October 2008

By
Real Estate Agent with Liberty Homes RS-#62825

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.

Waimea Bay NOrth Shore Oahu

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

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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

  

 

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Celeste "Sally" Cheeseman  is a Realtor-Associate® and Certified Residential Specialist (CRS) 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 Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.

 

 © 2007-2015 Celeste "Sally" Cheeseman's

Hawaii Real Estate and Relocation Blog.

All rights reserved.

     

 


 

 

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Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Sally, those are good increases - especially in light of what's going on in other parts of the country.  Maybe you can blow some of that good dust in out direction!

Nov 07, 2008 08:51 AM #4
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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Rising prices is great in your market Sally. What a deal. Counter to many other areas.

Nov 07, 2008 08:56 AM #5
Rainmaker
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Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Sally good to hear you market is fairing pretty well. Lets hope the improvement continues and 09 is a much better year!

Nov 07, 2008 09:32 AM #6
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally most states would love to be able to say the same.  Here in Connecticut the prices are not rising like that, but we can't complain, our prices have only fallen a little compared and we are holding our own.

Nov 07, 2008 11:41 AM #7
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Julie Dumaine-Russell
RE/MAX Alliance - Branford, CT

Sally - It's so nice to finally hear some great news in the real estate market these days!  Let's hope for that kind of news around the rest of the country in the near future.

Nov 07, 2008 12:11 PM #8
Rainmaker
659,594
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645

That was the news I was hoping for after the dip we took in August.

Nov 07, 2008 02:14 PM #9
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Woo Hoo, Great News and refreshing. These positive stories need to be out there for those in areas that are doing as well. It gives encouragement that things can change and for the better.

Nov 07, 2008 03:14 PM #10
Rainmaker
299,086
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate

Sally- Not listening to your "Family Real Estate Agent" that doesn't live in the area is the first step for sure.  Sounds like Hawaii made some sound decisions that are benefiting everyone now.

Nov 07, 2008 03:25 PM #11
Rainmaker
595,381
Lisa Hill
Florida Property Experts - Daytona Beach, FL
Daytona Beach Real Estate

Congratulations! And Woo Hoo for you! =D And have you noticed the media is starting to differentiate between locations? I think they might be finally catching on!

Nov 07, 2008 03:57 PM #12
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Sally - I love hearing good news about the market and you sure had some to share.  I agree buyers and sellers need to pay less attention to the media and consult their local expert.

Nov 07, 2008 10:24 PM #13
Rainmaker
593,907
Neal Bloom
Brokered by eXp Realty LLC - Weston, FL
Realtor CRS-Weston FL Real Estate

Our market is getting a bit loser but I thought your area was doing well?

Nov 07, 2008 11:21 PM #14
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Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

Neal: You must have read the first part...read on!  We have less sales than last year but our prices remain healthy.

Jennifer:  Like....me :)  and you :)  and all of us here who give sound advice :)

Lisa: I don't hear Hawaii...do you?

Kathy: We have family members who all of a sudden are the experts here and are still...watching the national news and passing on that info.

 

Nov 08, 2008 03:05 AM #15
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Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

William: It should give encouragement to all for sure. I continue on my quest....to give more info. :)

Randy: Thought I'd give some info since you're prancing around in Florida :)

Donna: There's no where to go anymore...but up....right?

George: We fell a little in August/September but October brought us good news. It was not a giant leap but a healthy one...either way. :)

 

Nov 08, 2008 03:08 AM #16
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Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

Bill: It hasn't done bad at all. I only say a few neighborhoods have gone down some...not much...just some.

Gary: We've done okay....sales numbers cut in half overall but for some we've done okay.

Nov 08, 2008 03:09 AM #17
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Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

Pat: It is significant enough for others to stop playing games....and sellers to remain realistic. I just put a townhouse in contract with lower than prices and on the market for a month. That's great compared to another one in the complex price 40k over mine and still sitting. Maybe it's because they only have a building picture too :)

Fred: That's funny! Only WE would catch on to that one. :)

For those of you left in the dark....here's the song....  http://www.youtube.com/watch?v=p2_NMcKOBY8

 

 

Nov 08, 2008 03:16 AM #18
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Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE

Ann: If they remain steady like this I'm happy.

Jeff: Sales numbers need to go up but people don't realize.....it's the LAND value :) and there will always be need for shelter.

Nov 08, 2008 03:18 AM #19
Rainer
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Charlie Arthur, CCIM
RE/MAX FIRST, INC. - Port Townsend, WA

AWesome, keep up the good work. - Charlie

Nov 08, 2008 06:53 AM #20
Rainer
17,183
Vickie Barrington
Bluewater Real Estate - Atlantic Beach, NC
Carteret County Real Estate

I have to agree with you.  I live in a resort area in North Carolina and we still are selling and listing homes. Buying a home is still a good investment.

Nov 08, 2008 02:27 PM #21
Rainmaker
645,667
Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty
Leolinda Realty - Surprise, AZ
Sun City Grand in Surprise Arizona

Sally, It's unfortunate that the media has painted a doom and gloom real estate market nation wide.  Good to hear that your market is strong.

Nov 08, 2008 04:04 PM #22
Rainmaker
189,534
Pat Whitehouse
RE/MAX 1st Olympic Lynchburg Va - Lynchburg, VA
Broker/Owner

Hi Sally-I'm a new person to visit your blog but I look forward to reading more. You live in a place people only dream of visiting. Spectacular photos. I'm happy your market is doing well. Nice chatting with you. :-)

Nov 09, 2008 02:53 AM #23
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