The Hawaii Real Estate Market at A Glance

So, When Is It the BEST Time to Buy Real Estate in Hawaii?

Now!

Why Now?

For first time homebuyer's who want to take advantage of the tax credit up to $8000, you need to make an offer on a property and get your offer accepted so you can close by December 1st, 2009. To make this deadline, you'll need at least 45 days in escrow to close if you require financing.

Interest rates are still under 5% so your purchasing power is still MAXIMIZED!!

Home prices are still LOW vs prior years but are stabilizing with low inventories. As long as inventory levels remain low, the RATE of decrease in prices will continue to level.

FHA financing is doing some reorginazition of guidelines that will take effect in NOV and may be more stringent on qualifications for prospective buyers.

If you insist on waiting til we reach the absolute bottom of the market before buying, you'll only discover the bottom after it's already PASSED!!!

Buying on either side of the bottom of the price curve is ideal. The danger of waiting to buy at the absolute bottom of the market is that while you're WAITING for the BOTTOM of the MARKET in PRICES, INTEREST RATES may increase and REDUCE your PURCHASING POWER faster than prices DECLINE.

So, WHEN is it the BEST time to buy real estate in Hawaii?

NOW!

If you're ready to buy in the next 30 days, contact Dwight Ellis at dwighte@cbpacific.com or call me at 808 351-1507