Aloha! I serve on the Public Relations Committee for West Hawaii Association of Realtors, and we discussed 3 reasons why sellers have a great opportunity to sell now.
3 Reasons Why Sellers Have a Great Opportunity to Sell Now
1. Low Inventory – In Kailua-Kona on the Big Island, there is currently only one 3-bedroom house on the market under $200,000 (MLS# 247881) – it’s selling at an appreciated value currently priced at $190,000 – it was purchased in 1998 for $154,000. There are currently only 14 three bedroom homes on the market in the $300,000 range.
2. Judicial Foreclosures will soon be flooding the market – We are expecting the judicial foreclosures to enter the market within the next few months, so pricing your home right to sell will be key to selling before the foreclosures flood the market. Though, you may still be able to sell at appreciated value, you may be competing with more properties and take a longer time to sell.
3. Cooperative Short Sales – For anyone going through a short sale situation (where you haven’t made a mortgage payment and you are waiting for the banks to give you notice to move out – title to the property is still in your name), there is a program called a Cooperative Short Sale, where the bank offers you money to leave the property so they can proceed with foreclosure to re-sell it.
If you currently have your property on the market, you may be able to take advantage of this program as well. Contact your mortgage company and mention this if this is something that could be helpful to you.
When you think of Hawaii real estate and your property, please give me a call. I would be happy to offer a free consultation and Current Market Analysis, and also offer ways to sell quickly for the highest and best price possible.
…or visit my blogs for more information on Hawaii real estate! Mahalo!
Blessings & Aloha~
Claire K. Bajo, RS, SRES | Big Island Sales