06-14-2011, 04:03 AM
I like to watch the Hawaii real estate market and have been doing so for about five years. What seemed odd to me was the Days On Market didn't always seem right to me. Some propertes that I KNOW have been on the market for years only showed 30 or 40 days on the market, or something a lot less than what I expected. Either I was crazy, or the turnover was very high or something else. At least yesterday confirmed the something else.
One property started out three years ago for 299,500. Got reduced to 250,000, then 199,000, then 195,000, then 130,000, 105,000, then 95,000. After three years, it was no longer listed. Yesterday, I saw it again, listed for 89,000. DOM clock now said 3 days and of course a different MLS#. Checked the County records and no sale had been recorded.
Of course any agent will say the DOM is TECHNICALLY right, but at least now I know not to count on it.
I'm not saying it's something weird about Hawaii, it's just that where I noticed it.
The DOM could be a great tool for negotiations, but not always!
One property started out three years ago for 299,500. Got reduced to 250,000, then 199,000, then 195,000, then 130,000, 105,000, then 95,000. After three years, it was no longer listed. Yesterday, I saw it again, listed for 89,000. DOM clock now said 3 days and of course a different MLS#. Checked the County records and no sale had been recorded.
Of course any agent will say the DOM is TECHNICALLY right, but at least now I know not to count on it.
I'm not saying it's something weird about Hawaii, it's just that where I noticed it.
The DOM could be a great tool for negotiations, but not always!
Puna: Our roosters crow first