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'the times they are a changin', because Dylan has a new album out today, oh what fun this is good news. Yes the market news is good for buyers! We aren't buying or selling so it is not relavant to us right now. I do read more than one newspaper a day, not that it all sinks in LOL.
It is just that I see very little negative about buying property anywhere in Hawaii, other than I'd like to keep it all to my self! Not really but you get the idea.
mella l
mella l
Art and Science
bytheSEA
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My own very amateur opinion about Puna real estate is that we are going through a correction and not a crash. The market overheated last year, experienced record new construction, and now is absorbing excess inventory. There is price cutting going on, but there does not seem to be a panic selling counterpoint to last year's panic buying spree.
It will take a few more months of statistics to see how deep the correction will be. So far, the median prices have not gone into anything like free fall. (They even seem to be holding flat in some areas.) That said, any price moderation brings opportunities for buyers who may have felt priced out of the market. Timing is tricky, though. It may not be obvious when prices begin to go back up again. As others have correctly pointed out, buying decisions should be based on need, comfort, and affordability and not one's best guess about where prices are going.
Aloha,
Jerry
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http://msnbc.msn.com/id/14608814
http://www.counterpunch.org/whitney08302006.html
These are just a couple of the many articles that have been appearing recently concerning the bubble. The first article is the better one.
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Here's a good one:
http://biz.yahoo.com/weekend/realbubble_1.html
"For the past five years, the housing bulls have been trotting out one rational-sounding argument after another to explain why the boom made perfect economic sense.
Forget about a crash, they assured homeowners. Expect a "soft landing" where your three-bedroom colonial in Larchmont or Larkspur not only holds onto its huge price gains, but keeps appreciating at a "normal," "sustainable" rate of 6 percent or so into the sunset.
Americans wanted to believe, and they did. Now, the giant popping noise you're hearing is the sound of yesterday's myths exploding like balloons pumped up with too much hot air."
I think those of you who believe Hawaii's realestate market is insular from the mainland are dead wrong. If the mainland market collapses so will Hawaii's.
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quote:
I think those of you who believe Hawaii's realestate market is insular from the mainland are dead wrong. If the mainland market collapses so will Hawaii's.
Bystander.....just curious.....do you happen to own real estate on the mainland or in Hawaii??
Aloha
PunaPaula
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Interesting article in New York Times titled “The Last Stand of the 6-Percenters”
http://www.nytimes.com/2006/09/03/busine...realestate. End of large RE commissions?
Edited by - adias on 09/05/2006 01:40:25
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On that 6% article -
My brother, who has money to do pretty much as he likes, says he does what he does well, so that he may pay others to do what they do well so that overall it is all done well.
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From the NYT article:
. . . They combed Internet listings of homes for sale until they spotted a four-bedroom house on a cul-de-sac with a three-car garage and 2.5 acres.
But the seller’s agent refused to show it to them. Why would she turn away an eager buyer? Not because of the Wolfs’ race, creed or color. Instead, Mr. Wolf, a software engineering manager at the online directory InfoSpace, said he and his wife were shunned once the agent learned they used an online broker called Redfin . . .
Why would the seller's agent give a fat rat's a$$ how much or little the buyer's agent makes on the deal? He/she is still gonna make his/her 3% on the commission split.
I know this: if that was my house, and I found out my agent wasn't presenting me with ALL legitimate offers, butt would be kicked and names taken. [/rant]
aloha,
Gene
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If it's tourist season, why can't we shoot them?
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"I've been on food stamps and welfare, did anybody help me out? No." - Craig T. Nelson
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quote:
quote:
I think those of you who believe Hawaii's realestate market is insular from the mainland are dead wrong. If the mainland market collapses so will Hawaii's.
Bystander.....just curious.....do you happen to own real estate on the mainland or in Hawaii??
Aloha
In Hawaii of course but I don't have anything to gain or lose if the market goes either way. I like many others live in my house and don't plan to sell.
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When a realtor refuses to present an offer to a client, that realtor can lose his/her license. It's a requirement, as far as I know, everywhere in the U.S. I'm sure that the Board of Realtors, like the Bar Association, makes many/most of its decisions on the "good ol' boy/girl" basis. However, if a client were to press the issue, then the Board has to act in a respectable manner.
