Irvine based Corelogic has ranked Hawaii No. 5 highest for home appreciation for the month of March in comparison to the same month in 2012. With an appreciation of 14.3 percent, Hawaii’s increase is almost 4% over the national average of 10.5 percent in March. This increase trend which started in 2012 and has continued in 2013, is driving the market with the home buying trend. You can read the entire article provided by Pacific Business News here . If you or anyone you know is looking to buy or sell property, call the Hansen Ohana today! We would be happy to assist you with all your real estate needs!
Spring has sprung and the first quarter of 2013 is complete. We’ve had a very busy first quarter experiencing the real estate upsurge so widely discussed, As a participant in the Sales end of the real estate market it is clear that there are increased showings, pendings and sales including multiple offers on “well priced” listings. Hesitant buyers are now becoming Purchasers. Well priced properties are attracting multiple offers making for a quick sale. Inventories have declined 14-16% over the past 12 months in Residential and Condo classes. REO (Foreclosures) and Short Sales are dwindling, with any “hidden inventory” (or overhang) backlog slowly trickling onto the market. Mortgage Interest Rates are still near historic record lows which may help motivate would-be Buyers to go ahead and buy IF they can qualify for a loan. Here’s the link to the Board of Realtors statistics report: http://www.ramaui.com/UserFiles/File/Stats/All-March2013.pdf For the next few days we will discuss the different areas of the island and how these statistics point to certain directions.