Oahu Home Sales

This past week I merged my real estate Sole Proprietorship with Prudential Location LLC because I feel strongly that the time is NOW for Oahu Real Estate. Working with a large firm like Prudential enables me to more easily get the word out that now is a great time to buy Oahu real estate. I feel strongly that this is the type of real estate market that two or three years from now everybody is going to say, “I wish I had bought then”.

All the market factors are lining up perfectly for the next six to twelve months……Let me explain. It is as simple as 1, 2, 3.

1. Interest rates are dropping below 6% on residential mortgage loans. Rates are seldom that low and when they have reachd that level, mortgage loan rates usually do not stay there for long.

2. Mortgage Money is available….that what lenders across the island are telling me. With five percent down or less. Of course, the Buyers DO need to have a steady job, and areasonable credit rating. The days of Buyers needing to prove employment, have cash on hand and credit worthiness have returned for good, hopefully.

3. Inventory, foreclosures and pricing of properties in our Oahu housing market indicate that the signs of a market shift are coming, that is the supply of new home construction and foreclosure homes are beginning to be absorbed by first time buyers, investors and secure homewoners taking advantage of their financial strength and current market weakness. This spring may be the tipping point when the market activity flourishes. I believe it will. This Buyer and investor activity will create its own momentum. as more buyers and investors choose to buy now the demand they will create will stabilize the market and lead to market appreciation. It is simple supply and demand.

Did people who bought at the peak of the Oahu market in late 2005 and 2006 lose equity? In most neighborhoods, yes, and in some neighborhoods they lost a lot. Are Buyer’s who buy over the next year likely to be buying at the (or near the) bottom of the market and benefit from excellent appreciation. Every indication that I see is…..YES!

THEREFORE, I am telling all of my Buyer clients and anyone else who will listen……..what one of the richest men in the world used to say…..(J. Paul Getty)….”I buy when other people are selling.”

So….Get in the Game…..and call me today and I can help you call the plays to make you a winner….Aloha, Jon.

This entry was posted on Thursday, October 30th, 2008 at 3:33 pm and is filed under For Buyers, Market Watch, Oahu Information, Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.