Now May Be The Time In Honolulu
August 21st, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
Find your courage. If you are a long-term investor, now may be one of the best times to buy real estate. A recent Wall Street Journal article talked about an investment bank in San Diego that sees opportunity amidst the town’s slow real estate market.
“Mr. East, a managing principal of Silver Portal Capital LLC, a small real-estate investment bank, is raising $150 million to purchase foreclosed houses in and around the firm’s hometown of San Diego. He is scouring lender portfolios and real-estate listing services — as well as spots to get a cup of coffee — for houses that he can rent out and then resell in five years. That is when he bets that the local housing market will have recovered.”
Translate this to Honolulu. Our market is stronger, it has much less of an ability to add new homes and the still relatively low interest rates, and I believe a purchase now will be looked upon as a terrific move 10 years from now.
Today’s picture was taken on my recent trip to Antelope Creek Ranch in the Mount Shasta area of Northern California. As always, no fish was harmed in the taking of the photo.
