It is Time For Real Estate Investors and Home Buyers To Buy
By Howard Dinits Realtor-Broker CRS, CIPS, RSPS, SFR, ABR, GRI, e-PRO
808-874-0600
Foreclosures, bank owned and Short Sales in Maui Hawaii
By Howard Dinits RB CRS, CIPS, RSPS, SFR, ABR, GRI, e-PRO
If you’re waiting for signs of a housing bottom, join the club. Nobody blows a whistle and says, “It’s time to buy!” and if they do, they are 90 days too late.
That’s why timing is an art, not a science, but you can improve your odds of buying wisely here on the Island of Maui In Hawaii.
First, stop paying attention to the national media. Fear has sidelined buyers even in good markets, and that’s exactly when you need to take advantage . . . before other buyers wise up and the deals are gone.
Second, be ready to pounce when you see the home you want.
The time is right to buy when you see these signs in Hawaii’s marketplace:
- · Inventories start to decline. That means that the best buys are leaving the market, and best doesn’t necessarily mean cheap. It means the homes with the highest likelihood of profitable resale. Desirable homes will leave the market first.
- · The Number of Days on market reducing. The Days on market refers to the period when a Realtor enters a home in the MLS for marketing to other brokers, until the home sells. When DOM are shorter, that signals a coming seller’s market. A seller’s market has more buyers than homes, so prices go up and selection goes down.
- · Mortgage applications increase. Interest rates are still at a historical low causing many homeowners to jump in and refinance. Purchase applications were also up. Either way, that means homes are about to leave the market, so a lessoning of inventory means firmer prices. Sellers will stop dropping their prices.
- · Sold homes go for closer to listing price. In 2011, home prices sold within 97 percent of listing price. When they get to 98 percent, you’d better be ready.
- · Prices remain firm or rise. Prices are a product of demand. To attract buyers, sellers reduce their prices and offer more incentives. If homes are selling reasonably well, prices won’t move downward . . . they’ll go up.
- · Incentives disappear. When a market begins to favor sellers, they don’t have to do as much to sell homes. Watch new homes and see if builders are still giving away appliances and granite kitchens. If they aren’t, times have changed.
Any change in condition will change others, so again be ready. Now is the time to buy a better house while prices are low in Hawaii, interest rates are low and inventory is still high.
When you are thinking of Buying or Selling in Hawaii be certain to get help from a professional. Make sure your Realtor has an up to date website with listings from the Multiple listing service and has the proper designations and training to help you in today’s market that is not like any previous market, There are new ways of doing Real Estate and types of transactions that many Realtors have not seen before, like reo’s Bank Owned, and short sale properties.
Please use an agent that has the Short Sale and foreclosure Resource (SFR).
Contact Howard Dinits RB, Certified Residential Specialist at 877-434-6487
or email Howard@HowardDinits.com
For Listings and Hawaii Relocation Information Go To https://easymauirealestate.com.
It’s Time For Investors and Home Buyers To Buy Foreclosures, Bank Owned and Short Sales in Maui Hawaii
By Howard Dinits RB CRS, CIPS, RSPS, SFR, ABR, GRI, e-PRO
Dinits Realty
808-874-0600
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