There’s been a lot of press over the past few years about real estate, both good and bad. Much of one’s opinion is formed based on where they stand on the mortgage fiascos that have plagued our national housing market and overall economy. If you’re one of the many who were negatively impacted by the fallout, then you undoubtedly don’t have a favorable feeling on what’s happened. However, if you owned your house free and clear or generally run counter to mainstream economic indicators (as many successful investors do), then you may have a very different opinion.
If you’re in the latter group, then you no doubt recognize the Oahu real estate opportunities that exist across the island. From mauka to makai, windward to leeward coasts, Honolulu to Makaha, there are investment opportunities to be had for savvy, opportunistic investors.
What Opportunities, You Ask?
Well, with the current Hawaii moratorium on non-judicial foreclosures set to expire this summer (unless renewed), there will be more distressed properties making their way onto the open market. If you have the available cash, these properties will present themselves as fantastic investment opportunities here on Oahu. No doubt you’ll be able to acquire them at well below market prices if you know a thing or two about negotiating (or especially if you join our VIP Buyers List!).
However, inventory has also shrunk recently to under the 6-month mark, a great sign of where housing is likely going. Coupled with a recent general increase in median prices in many areas on the island, now presents itself as a great time to pick up a new property or two, either as a personal residence or investment property. With prices looking to be headed northward for the foreseeable future, even at a slow crawl, there’s some equity to be had.
The upcoming release of distressed properties by the banks after the foreclosure moratorium passes could, of course, put a damper on that prediction by increasing available inventory, but the properties themselves are generally acquired at significantly less than fair market value.
This is not to say that there’s a short window of opportunity to buy as there are always deals to be had, BUT, there may actually be some truth in that idea. It wouldn’t be a big stretch if interest rates were a fair amount higher at this time next year. Don’t be the one kicking yourself for not getting in while the Oahu real estate market was ripe. There are great deals at all price points and from Kailua to Waianae and all points in between.
If you’re thinking now is a great time to buy or if you just want to be notified of potential deals that you may want to pick up, join our VIP Hawaii Real Estate Buyers List for advance notice. Or contact me personally here and let me know what kind of property you want. We’ll do our best to accommodate you.