- Only a month
ago I commented on how some Realtors were saying prices are leveling
off and others said no way. Well, if you're in the market for
a house, here's some good news for you: Prices are, no matter
what anyone tells you, leveling off.
- We are seeing
more "price reductions" in the listings that ever before,
and that means folks who felt that prices were still going up
with no end in sight listed their properties at the up-end of
the price range. At the same time, the inventory of homes for
sale is bigger now than it has been for a while. Those who went
for top dollar when listing their properties are now forced to
drop the prices if they wish to be competitive with the prevailing
market, and they are doing just that. We know of several homes
now on the market that have had two or more price reductions,
and some of them significant!
- When there
are more properties to choose from, buyers can be more selective,
plus buyers are now actually able to come in with an offer of
less-than-asking price. This has not been the case for a long
- Up until
very recently, most listing Realtors would tell buyers not to
even bother with an offer of less than the asking price, and
many homes sold for more than the asking price.
- The really
good part is that there is now an inventory of affordable homes
again, those in the $300-400K range, with even quite a few listings
down to the mid 200's.
the upscale homes in the $500K-up range (as long as they are
worth the money) are selling more easily than the cheaper ones.
Supply and demand.
- Happy home-shopping!
- The Big Island
is gettting crowded. Traffic is becoming a problem. Long lines
everywhere are starting to be the way of life here. For those
of us who remember the simpler times here, it is sad. But we
can all make it work if we will always remember to
Mahalo for "listening."
- Skip Thomsen