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Interest rates are actually holding pretty steady and are still at historically low rates. The problem for the market is that banks are making up for loan losses by cranking up fees (so what's new??). They are also tightening up loan conditions with higher down payments and PMI. One of the problems lenders have run into is that borrowers who put nothing down found it too easy to walk away from the loan. Down payments and front end fees tend to squeeze out first time buyers and that has a ripple effect because people trying to move up have difficulty selling their starter homes so they can buy up.
Larry
Larry
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I'm deleting this post, and giving up on the two-buck chuck.
For tonight.
Aloha
Richwhiteboy
Edited by - haoleboy on 07/23/2007 18:01:59
“Sometimes the truth hurts. And sometimes it feels real good.”
- Henry Rollins
well I'm happy to say my house will be part of the July statistics. We bought it in 2005 and did lots of work on it. I think a house in good condition in a good location that is priced well is going to sell ... and homes with too much deferred maintenance or bad designs and unrealistic prices sit around.
I gave up on the unrealistic sellers -- who had properties on the market for many moons but still acted like a small reduction was a big concession. I mean, hello, clearly your house is priced wrong if it sits and sits on the market. Maybe sellers should try adding some curb appeal and fixing things. It's appalling to me the terrible conditions of many homes here that aren't even listed as fixers or needing TLC.
And then too many of the spec homes have no landscaping at all even though the house is nice.
Posts: 2,314
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Those who know me know how low my opinion is fo the National Association of Realtors. The only ones lower than that are the Hawaii Association of Realtors and the Kona Board of Realtors. This article clealy justify my opnion of these "country club organizations."
http://www.fool.com/investing/general/20...lnk0000003
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,RB
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
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Well you sure seem to be singing a different tune now.
Posts: 2,314
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Joined: Jun 2003
quote:
Well you sure seem to be singing a different tune now.
You should read the article again. I don't lie like those guys. There are always good deals in real estate regardless of the market conditions.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,RB
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
Posts: 1,069
Threads: 266
Joined: Sep 2006
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Support the 'Jack Herer Initiative'NOW!!
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Hi all,
I rented a home in Leilani last summer to test out if island life was for me. What I discovered is that it is, but I can't bear to leave my friends and family who live on the mainland and I am middled aged, too young to retire and too old to start over in a new job. I am trying to decide whether to sell my land in Leilani now or hang on to it.
I am really torn. It's the first piece of property I have ever owned and am a bit "attached" to it. But then again if I am not going to live here.....and I am not a land speculator. I hate these ambiguities...anyway. Do any of you mind giving your 2 cents here?
I have someone offering me an amount that does not allow me to break even. I bought the piece at 32k. The hit I would take now is 3500-4000.
Thank you for your attention and potential response.
Jane
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Aloha Jane,
This is an old and long topic and I am going to encourage you to start a new topic. Just cut and paste your message above and use it to launch a new one. Then I think I'll retire (temporaily at least) this 2007 subject.
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