Spike In Honolulu Home Prices Coming?
April 16th, 2010 categories: For Buyers, For Sellers
Honolulu real estate is not complicated; in fact, it goes back to economics 101 (remember supply and demand?)! Anyway, in my opinion, the 2009 slowing in core Honolulu real estate sales had more to do with fear than too many homes for sale. Add to this the lack of new construction and tight commercial financing and there may be short to mid-term pressure on existing home and condo prices. A recent article in the Honolulu Advertiser confirms this.
“Hawai’i home sales volume has been rising for nearly a year, but the pipeline to produce new homes is at a more than 30-year low, leading a local economist to warn that a price spike could be in the making.”
“Around 4,000 new homes are needed to satisfy household formation, the local economist said, adding that if home construction doesn’t pick up it could lead to a short supply that drives another spike in prices.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
Here is the question, how can you take advantage of this potential upward pressure on values? For buyer’s, buy now and lock-in low interest rates and values. For sellers, if you can wait, waiting to sell for the next 3 to 5 years may position you to take advantage of a spike in values.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Honolulu Home Median Prices at $1,000,000?
March 4th, 2010 categories: For Buyers, For Sellers, The Market, Video For Buyers, Video For Sellers
A local economist, Paul Brewbaker, is predicting a median price of $1,000,000 for homes on Oahu and in Honolulu by 2020.
“While Oahu homeowners might not see much price gain over the next few years, the market is on its way up and the median single-family home could be worth more than $1 million by the dawn of the next decade, said renowned Honolulu economist Paul Brewbaker.” CLICK HERE TO READ THE ENTIRE HONOLULU STAR BULLETIN ARTICLE
Today’s video blog talks about Mr. Brewbaker’s past accuracy and why one should believe him.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
More Video Blogs
Honolulu Real Estate Is A Good Investment
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Economic Seers See Honolulu Bottom
December 10th, 2009 categories: For Buyers, For Sellers
This morning, I attended a breakfast sponsored by the Honolulu Chapter of the NAIOP (The National Association of Industrial and Office Properties) the speakers were two of Hawaii’s preeminent economists Byron Ganges and Paul Brewbaker. I found their views on 2010 hopeful and refreshing. Mr. Ganges spoke on the macro-global economy and Brewbaker addressed the local fiscal situation. Here is the redacted version of the essence of their presentations (note that I am paraphrasing and these are not direct quotes). Read the rest of this entry »
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Guru Calls Bottom In Honolulu Real Estate
December 4th, 2009 categories: For Buyers, For Sellers
The Honolulu Star Bulletin is reporting that Paul Brewbaker, former Bank of Hawaii chief economist, has called a bottom in “Oahu’s Housing Market”. Over the years I have learned to trust Paul’s opinions, because he has predicted so many other upturns and down turns in Honolulu’s home and condo markets.
“This is not the first time Brewbaker has gone out on a limb. He raised eyebrows in 2003 with a prediction that Oahu’s median home price would surpass $600,000 in the last cycle. In fact, the market topped out just shy of $645,000 in 2007, he said. Brewbaker said Oahu’s housing market has bounced off an artificially low bottom associated with the financial panic of 2008 and has begun to “rebound into a stabilization phase that will run through 2012.” CLICK HERE TO READ THE ENTIRE POST
Tie Paul’s call in with the Honolulu Board of Realtors latest positive statistical report and we may be able to expect a good 2010!
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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