Hawaii Randy's Real Estate Opinions: Will The Holidays See the Normal Real Estate Slow Down on Oahu?

Will The Holidays See the Normal Real Estate Slow Down on Oahu?

In Hawaii we do not see the extreme winter slow down as in parts of the mainland.  The weather is nice year round here.  But even with that said the holiday season usually sees a lull in real estate activity.

This year may see the trend bucked a bit.  The last couple of months, inventory in some of the communities I service have dropped considerably.  Interest rates with discount points at local lenders, are bouncing between 4.5% and 4.75% on a 30 year fixed.  Add to the mix federal tax credits of $8000 for first time buyers and $6500 for repeat buyers.  You may be seeing the forming of a perfect storm.

Buyers are finding homes at great prices and attractive financing.  They are however finding less of them to choose from each day in many parts of the island.  We are also seeing prices beginning to climb for the first time in awhile in some parts of the island.

My normal advice to sellers is to wait until the beginning of the year to put their home on the market.  This year the conventional wisdom may possibly be out the window.  December looks to be a good month for both buyer and sellers.

Buyers, who were going to wait until after the first of the year, may want to start their search now.  Sellers who are getting their home ready for sale may think about jumping in the market now.  The lack of inventory in many areas will put them in a more favorable position.

If you are thinking of entering the real estate market on Oahu, please contact me for a free consultation.

11 commentsRandy L. Prothero - Hawaii REALTOR® • November 27 2009 12:24AM

Comments

I am hopeful that the new Tax credit program will boost our sales and we will not have a slow down.

 

Betty

Posted by Team Honeycutt (Allen Tate) 3 months ago

We get VERY slow in the winter months, although some people will tell you our market is great (not) and our inventory is reduced... it is, but unfortunately it is because people have pulled their homes off the market. It is easy to spot the true 'buys' here but not the true 'buyers.' Aloha Randy!

Posted by Susie Blackmon~Maggie Valley~Waynesville Real Estate Broker~Horse Person~WNC (Susie Blackmon LLC) 3 months ago

Randy, I agree, this is a good time to buy or sell a house, with the interest rates being so low and the extension of the tax credit.  I normally have slow November's and Decembers, but so far November has been a good month, and I am expecting December to also be better than I have experienced before.

Posted by George Souto (McCue Mortgage) FHA, CHFA, VA Mortgages CT. 3 months ago

Randy - we are seeing similar conditions here. The weather certainly doesn't contribute to any slowdown but the holidays often do. Hard to know this year with conditions that are encouraging for some buyers and sellers.

Jeff

Posted by Jeff Dowler ~ Carlsbad Real Estate ~ 760-840-1360 (RE/MAX Moonlight Beach (CA DRE Lic. # 01490977)) 3 months ago

Betty - So far the tax credit has made an impact.

Suzie - Pulling off the market has impacted inventory here some, but the last few months sales have definitely picked up.

George - Last Sunday's open houses had pretty heavy traffic.  It looks like the usual slow down is not happening.

Jeff - If we finish with a strong holiday season, look out the beginning of the year.

 

 

Posted by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) 3 months ago

So far we are seeing an upturn in calls.  Hopefully an increase in ink on the paper!

Posted by William Feela Realtor 651-674-5999 No. Branch,MN (WHISPERING PINES REALTY) 3 months ago

I wish it would slow down, I could sure use a couple of days off in a row!

Posted by Georgina M. Hunter R(S) e-Pro Maui Real Estate Sales (Jim Sanders Realty Inc. - Maui) 3 months ago

Randy,
Who can predict Buyers and/or Sellers?  Holidays are traditionally slow but let's hope that is not the case this year!

Posted by Cynthia Tilghman, Realtor® Onslow County NC Home Specialist (Kingsbridge Realty, Inc) 3 months ago

I will be testing the holidays today.  We will have three of my listings holding open houses.

Posted by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) 3 months ago

Randy, good to hear as December rolls along the market in your area is shifting toward being balanced. I always think there's less stress on buyers and sellers in a balanced market.

Posted by Gary Woltal - Associate Broker REALTOR® Dallas Ft. Worth (Keller Williams Realty) 3 months ago

Gary - Some areas are now turning to seller's markets for the first time in a few years.

Posted by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) 3 months ago

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