Decline in Real Estate

[wyatt]

While building our home we have had alot of drive up company. We have spoke to two spec
building groups that, one is already building, the other just broke ground on one of five here in Sea View. While up on our roof building we have noticed that there was several people lot shopping in about a 3 block radius. More than I think is normal for here. From our roof view there is 5 houses in early stage building.
I have a hard time believing things are slowing down. At least here in Sea View.
Our perception of the truth should not rely on the media. With this said. Decide for yourself
as these builders and shopper/buyers have.

Aloha
Wyatt

[Easygoing]

Anyone care to guess, how the stock market sell off today, will affect the real estate market in Hawaii.

[Fishboy]

Hey, Easygoing,
How come is it that you can start a premier topic that generates 29 pages of discussion, and you still only have six messages logged?

Regarding the stock market, no sweat. The market has suffered from a knee jerk reaction to the nine percent decline of Chinese stocks. This is no different than several other such drops and should be back to yesterday's level inside of three months.

Best aloha,
Brian

[Jared I]

Sometime back I said there were a issues that would lead to a housing decline.

First the subprime brokerages are going south, because of buybacks. Look at reason 2. 27 by this websites count: http://ml-implode.com/

Second people with I/O and ARMs would start resetting and buyers defaulting. Look at www.realtytrac.com, type in a mainland zip and count the number of NODs/REOs/Auctions. These are just starting to stress the banks like HSBC, WAMU and others. A prime example is Denver of whats to come.

Third look at the bond markets subprime and and Alt A bonds as they storm to zero.

Fourth builders are letting options expire, stiffing contractors and being investigated for lying to investors.

Now many (Bernake/Greenspan/Cramer) say housing wont affect the rest of the economy. I am betting they are wrong. Mister Volker where are you now?

[tada]

Didn't Greenspan say couple days ago the conditions for recession starts with a great looking economy? One thing might arise from "Black Tuesday" is looks any recurrance of rate increases might be out the window.
Also remember Greenspan's "irrational exuberance" speech was in 1996 when the internet bubble was just warming up. I think we might at that stage now but it's "back to the '70s" more inflation driven except for real estate???

Others want to make friends- I just want to make money.
James Cramer

[Easygoing]

Hey Fishboy, cause like it says I am Easygoing and mostly out fishing instead of on the pc.

[haoleboy]

That's a good answer, Easygoing. I want to thank you for starting one of the best damn threads here.

Anyone keeping track of how many times the topic has been hi-jacked?

Aloha
Richwhiteboy

"Indecision may or may not be my problem."
Jimmy Buffett

[Easygoing]

I look at Harry Pritkin's report daily and there are always quite a few properties, that have recent price deductions. Based just upon that, I think that the bottom has not arrived yet. Maybe next month?

[Rose C]

My Big Island realtor told me that he sold more properties between January and February of this year than between July and December of last year.

Rose C

[John S. Rabi]

Price reductions is not an indication of any market. Properly priced properties are sold right away. Just look at Leilani Estates, all the lots priced below $45K were sold in no time.

Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185