Generalities vs. Specifics in Honolulu Real Estate
July 7th, 2008 categories: For Sellers
Generalities. In general they can be right and in specific they can be wrong. A prime example is the general condition of most real estate markets in the U.S. Most news reports and people espouse the idea that the housing market is not doing well. In general they may be right and in specific they can be wrong.
This year I have been selling lots of houses and condos. Most of my sales have been my listings and a number have been buyers that I represented. Many of my listings (not all) have been selling within weeks of coming on the market (how is this in a “soft” market?). I have found there to be three keys to having a property sell fast and thus make it a “good” market.
Pricing. Please read my recent post regarding my thoughts on pricing Honolulu real estate.
Condition. In this market, buyers are looking for a home that is clean and does not require immediate work to upgrade the property. They want to move right in and begin living rather than having to remodel or paint the place. Do what you can (manage the cost) to make your property look clean and crisp.
Balance. There has to be a balance between the current market price and condition of the home. A seller can have a very clean unit that requires no work, but if the price is outside the expected sales range, then it will sit and not sell. I have noticed that if a property is expected to sell at “X” and it is priced at “X”, in this market, it will sell right away.
Don’t believe the generalities. Look at a specific property, assess its condition and price, and then balance the two to arrive at a sale that doesn’t count on a good or bad market.
Today’s picture was taken during this past 4th of July’s MacFarlane Canoe Regatta. I love the unfolding drama with Diamond Head as a back drop.
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Hello from a fellow “Tomato” – we’re in Oahu till 7/24 and loving it. Swam with the dolphins and sea turtles at Wimea Bay yesterday, snorkled Hanuma Bay and saw Pearl Harbor – maybe we can meet while I’m here too. It’s great the way the web brings us all together. Enjoying your blog and your city
– Cyndee