Buyers and Sellers, be informed, be ready, be decisive:

Increased showings and sales, multiple offers on “well priced” listings, hesitant buyers become onlookers...... Window of opportunity is quickly closing for first-time homebuyers (see below). Well priced properties are attracting multiple offers making for a quick sale. 

Momentum has slowed a bit in the cnodminium sector while the pace continues strong in single familyt homes both on Oahu and Maui. REO (Foreclosures) and Short Sales are dwindling, with any “hidden inventory” (or overhang) backlog slowly trickling onto the market. Mortgage Interest Rates are inching up slightly which may help motivate would-be Buyers to go ahead and buy IF they can qualify. Savvy Investors are buying with Cash. While general U.S. economic news looks cautiously hopeful, current World and US events will have ripple effects on cost of living, consumer confidence, Financial and Real Estate Markets.

As prices rise, some “Owners” will decide to become “Sellers,” putting their homes on the market.

FOR SELLERS: Sharpen your pencil, talk to your CPA and your Realtor® to explore the hidden benefits or consequences. Make no assumptions that will sting later. To be successful, Sellers need to beat competing properties with better property condition, REALISTIC pricing, good marketing, and flexible, creative terms (Seller Second Loan, Agreement of Sale, Lease-with-option-to-buy, and Sale-with-lease-back to seller). Days on Market figures show that properties priced right will sell in a reasonable timeframe, often with multiple offers. “Priced Right” is still the determining factor.
BEST Deals are selling, while significantly over-priced listings remain un-sold.

Pro-Active Sellers are getting their properties appraised, inspected and surveyed in advance to encourage realistic offers from knowledgeable Buyers. This can prevent unanticipated escrow fallout or Buyers whittling your price down during the transaction when previously unknown facts come to light.

FOR BUYERS: Low interest rates prevail; however have started to nudge up. Buyers should get Pre-Approved so they can shop in confidence (fewer last minute disappointments due to non-funding loans). "Short-sales" and foreclosures are still in the marketplace, yet they can be less of a bargain than they seem, requiring more hurdles to leap and more time (often 4-6 months) to close, if at all.
Be prepared, but BE REALISTIC. Lenders are much more stringent on requirements now for loan approval, compared to 2004-2008.

First-Time Home Buyers – Many programs are available..... Attend a First-Time Home Buyers workshop, get familiar with the process, get qualified/approved, do your homework to get your own home. Many current owners never thought they would be able to own until they attended a workshop, discovered they could own a home, and are glad they did.

High Season is approaching:
The low point in the market is your rare chance, so check it out carefully, don’t delay. The opportunity is fading quickly.