Market Update For January 10'

Aloha Everyone, 

The West Hawaii market continues to be slow and declining as compared to recent years. There has been some price stabilization on the lower priced homes. The inventory in all ranges is good and prices are still falling in most areas. Well priced high value homes are selling.

FHA has recently introduced some new guidelines regarding condos. These guidelines will likely further inhibit that market segment. More reading here. Condos news.

Window of Opportunity?? 

As a homeowner thinking about making a change, you may have a unique window of opportunity right now. 

 Recent discussions.......

• Interest rates remain at historic lows
• In some areas inventory has actually dipped,
• There is a lot of Buyer demand out there.  We’re seeing multiple offers on well-priced, well-positioned properties. 

 However, these conditions will not last.  Towards the end of this year and the first quarter of next year, a huge wave of REO’s will be hitting the market. 

• This will increase inventory and competition.
• This may affect prices as REO’s are often priced under market. 

 This may be your Window of Opportunity! If you have been thinking of selling, please give me a call to discuss how to take advantage of these unique market conditions.   

 Meanwhile....

President Barack Obama’s new mortgage relief plan, launched Wednesday, March 5th aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes.

Are you one of them?

Obama’s “Making Homes Affordable” program is designed to work with lenders to modify the loan terms for up to 4 million homeowners and to refinance up to 5 million homeowners into more affordable fixed-rate loans.

For more information about the plan go here. “Making Homes Affordable”

For questions and answers go here. Q&As.

 I have a "thing" for old "hotrods". So, to help other "hot rodders" better understand the current market conditions I have developed the following dashboard, I hope you enjoy it. 

You will see that December was a slow month with an increase in inventory and the number of sales very low. Prices are still falling and interest rates remain low. It would surely be considered a Buyers Market.  A link for those of you who appreciate more traditional Market statistics.

Aloha,

Eric

P.S. Please let me hear your questions or comments....