Honolulu, HI -- (SBWIRE) -- 03/07/2013 -- Hawaii’s real estate market is just booming, and investors and first-time buyers should really take advantage of this,” noted Dave Dickey, Century 21 All Islands Realtor Associate and Internet Real Estate Specialist.
“A lot of investors are just coming in with cash, and buying up multiple properties because home prices have become more reasonable. I know of one Japanese national who bought 100 properties!
“Compared to the housing slump of 2008, 2013?s market is on the rebound, and it’s good for both buyers (because home prices are evening out now) and sellers (because there’s a lot of activity in the market due to the lower prices).”
According to the Honolulu Board of Realtors, January 2013 sales of single-family homes and condominiums increased almost 30 percent and almost 6 percent, respectively, compared to January 2012 (press release 2/17/2013). The median price in January of a single-family home was $595,000, and $315,000 for a condominium — a decrease of 3.9 percent and an increase of 3.3 percent, respectively, from the previous month. Yet sales of single-family homes and condominiums were accepted at a faster pace in January, compared to a year ago.
Additionally, current mortage rates are at a 60-year low, allowing prospective buyers to finance new homes or refinance existing mortgages (Dan Desmarais – Desmarais and Associates, Inc.).
Now is the perfect time, especially for first-time buyers, because the federal government has continued to lower interest rates to an all-time low, and it’s expected they’ll continue to be low (WaikikiBeachHouse.com).
In general, Hawaii’s property market has been more robust than the rest of the nation’s. Even after the recent housing crisis, Hawaii bounced back faster than other states primarily due to its geographical isolation, but also because most of Hawaii is considered prime real estate (HawaiiInvestorsClub.com).
“Overall, January’s numbers are good, with sales of single-family homes and condominiums continuing to be strong,” said Kevin Miyama, president of the Honolulu Board of Realtors. “The median sales price for single-family homes dropped due to the higher volume of sales this year over last in the lower price ranges. This means there were fewer high-priced homes sold compared to the mid- and low-priced, which bumped the median price down, due to the high number of first-time homebuyers getting into the market.
“There is a lot of activity in the market and we’re optimistic low interest rates and reasonable prices will continue to fuel the positive trend we’ve been seeing these past few months.”
Century 21 is one of the most recognized real estate brand names, according to an online survey of over 1,200 U.S. homebuyers and sellers in 2012 (commissioned by Century 21). 96 percent of the respondents had “seen or heard of” Century 21. When respondents were asked to identify the “most respected” brand in the real estate industry, Century 21 also topped this list (Inman News 2/20/2013).
Whether you’re a first-time buyer or a seasoned investor, contact Dave Dickey your trusted Century 21 agent for a free consultation: Aloha!
Dave Dickey, Realtor® (S)
(Internet Real Estate Specialist)
Century 21 All Islands
2255 Kuhio Ave., Suite 1220
http://www.DaveDickey.net
http://www.WaikikiBeachHouse.net
http://www.HawaiiInvestorsClub.com
(808) 852-8833
c21davedickey@gmail.com
Alisa Nakamoto, Realtor® (S)
Century 21 All Islands
2255 Kuhio Ave., Suite 1220
http://www.alisanakamoto.com
(808) 780-8110
alisa.nakamoto.c21@gmail.com
Dan Desmarais, Finance
Desmarais and Associates, Inc.
1777 Ala Moana Blvd Suite 142-48
Honolulu, Hawaii 96815
Direct Phone: 808-489-4824