Silver Lining To A Dark Cloud For Buyers
September 26th, 2008 categories: Buying Honolulu Real Estate, Honolulu Real Estate 101
Diamond Head Light House
An article posted at Bloomberg.com is divining that the Federal Reserve may be close to reducing interest rates. Rates are already very low and any additional reduction in interest rates should push buyers off of the waiting to buy fence.
“Federal Reserve Chairman Ben S. Bernanke moved closer to cutting interest rates, signaling that risks to U.S. growth are greater than policy makers saw them just last week.
The “intensification” of the financial crisis in recent weeks is curbing Americans’ access to borrowing, making the outlook for consumer spending “sluggish at best,” Bernanke told lawmakers in Washington yesterday. While he noted that risks to inflation remain, the Fed chief’s testimony focused on “grave threats” to the banking system.”
CLICK HERE TO READ THE ARTICLE
I find it interesting that a person who is now renting would not buy in this market. Values and interest rates are down, inventory is up and the negotiation process generally favors buyers. Yes, I acknowledge that all of the financial market upheaval can be seen as disconcerting, but a person has to live somewhere. Why not take control of your life and use the rent you are already paying to buy something that positions you for economic betterment?
On a final note, I have always been and always will be a “Bull” on core Honolulu homes and condos, so add the fact that a buyer can get into a great long-term market like Honolulu’s and hesitancy makes even less sense. Have courage. Become a contrarian and you might find that you will out perform the herd.
OTHER POSTS WORTH READING!
Honolulu Rental Rates
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
