Showing signs of life - Hawaii Business

There was a glimmer of hope for the residential real estate market on Oahu as June home sales showed a slight jump compared with a year ago, according to the latest statistics from the Honolulu Board of Realtors.

[Lance Owens]

I sometimes question where you get your quotes from - When you quoted "Harvey Shapiro characterized the jump in home sales as a seasonal spike, given that many people buy and sell during the summer."
Wouldnt this be the same story for last June - therefore we are comparing apples to apples - and it was a genuine gain in sales over last "summers" sales figures.
Just a thougth?
Thanks
Lance

[Ahh-So-Deska]

NINA: Realtors will try to make lemonaide out of lemons. Why do you talk to them? It's their business to sell, so they are biased. Including their stat leader, who works for the board. Get an unbiased source! Until them, pun intended, you will always be saying the same thing. Which is nothing. Like an opinion without basis,

[Horatio]

In real estate businese, it is how you spin the story. In order to generate more sales, you must speak positive and make it seem that its time to buy. A real estate agent makes money only when a property moves. When is it a good time to buy? Realtors response is always now now now.

the market still hasn't bottomed out. Hopefully, it will drop even further, so others will have a chance to buy.

[Malama Hawaii]

Signs of life or lower, more reasonable prices? We all know how the game works with the news outlets pandering to special interest groups that pay for ad space. Hopefully the general public doesn't go wild and continue to overpay for real estate. Anyone paying asking price right now is getting ripped off. Check out oahure.com , it shows the asking and final prices. Usually about 20-30% lower right now.

[Harris]

The prices of homes don't drop too much because there is a continuing demand for homes. This place is different from the other places on the mainland like California and Nevada due to the fact that this island doesn't have too much land to sell. There have been properties that are selling at reasonable and cheap prices. At the present market condition we have, timing is everything. Reasonable buying depends on where you want to buy like buying in an area where inventory is higher than the other places. You have the edge if you work in an area closer to where home prices are reasonably cheap.
Interest rate is also a good factor to consider buying. Lower interest rate will get you to the point where you don't have too pay too much.

[Grinchie]

It's the spike when Parents are desperately trying to settle in before school starts for their children.

They don't have any choice in the matter.

This story is more statistical fraud by the media to paint a rosy picture where none exists in reality.

The Honolulu Star Bulletin is nothing more than a paid propaganda vehicle for the vested interests in prolonging the status quo, instead of actually reporting on the grim reality of the mess we are in from uncontrolled growth, and fractional reserve monetary system that has fallen into widespread fraud, and a Job's market that that is about as resilient as a tub baggie full of jello.

[homeless]

Ahh-So-Deska wrote:

NINA: Realtors will try to make lemonaide out of lemons. Why do you talk to them? It's their business to sell, so they are biased. Including their stat leader, who works for the board. Get an unbiased source! Until them, pun intended, you will always be saying the same thing. Which is nothing. Like an opinion without basis,

When one of the BIGGEST ad buyers is the real estate people, you bend over backwards to appease them. You don't bite the hands that feed you, especially if you're a financially strapped newspaper company. Only qualification Nina has is that she's willing to work for cheap pay - damn the unbiases journalism.

[prices dropping]

One needs to analyze the mix of the specific properties sold that make up the median price. The median price as a number has been relatively constant in the $550,000 to $650,000 for several years. During the peak time of 2-3 years ago there was a frenzy to buy anything as people were afraid of getting left behind. Right now I believe that people can get nice houses in the same area now for the same price as compared to fixer-uppers or smaller houses when the market waas booming. This is the same as the market dropping. The median is really only a price point. You can get more for your money now.

[Guru]

Funny...I see prices dropping in the supermarkets too, and in places like Bed N Bath N Beyond...I don't see anybody NOT in there...in fact it is crowded with people purchasing what they need.

I also don't see the sales people telling anyone NOT to buy now as it will be lower next year. Do you really expect a sales person to just walk away from making a living because you can't afford the current prices of homes... or otherwise want them to drop further for your benefit? Lots of people are getting some great deals right now, in terms of financing, prices, or both.

Bottom line is that now is the time to do your research, get to know your market, and make your own decisions. Just don't be like those who always complain about everything they can't control.

When you can "see it", make your move, in your own time, and in your own price range. It really isn't any more complicated than that.

[Guru]

Harris wrote:

The prices of homes don't drop too much because there is a continuing demand for homes. This place is different from the other places on the mainland like California and Nevada due to the fact that this island doesn't have too much land to sell. There have been properties that are selling at reasonable and cheap prices. At the present market condition we have, timing is everything. Reasonable buying depends on where you want to buy like buying in an area where inventory is higher than the other places. You have the edge if you work in an area closer to where home prices are reasonably cheap.
Interest rate is also a good factor to consider buying. Lower interest rate will get you to the point where you don't have too pay too much.

How dare you for saying these self-evident truths. You MUST be a "Realtor".--lol!

[Yes We Cant]

Prices are starting to stabilize in a few markets, Detroit is not one of them, wonder why??

[ipj737]

Grinchie wrote:

It's the spike when Parents are desperately trying to settle in before school starts for their children.
They don't have any choice in the matter.

So apparently children didn't attend school the same time last year, huh?

You are one funny guy.

[And the circus continues]

I have a few friends with Prudential and they tell me that their office is like a magic show - a lot of people disappearing. Many have not sold a home in nearly a year and quite a few was into flipping and have had those investments foreclosed on as well having quite a few that had to file for personal BK. For a fact, one agent at Prudential is so desperate that she works at night doing their specialty. It is really kind of sad because this agent has a kid that is austistic.

[dewdalohajoey]

And what specialty r u talking about?

[GD Hilo]

The enegery bill now heading to the senate has manadtory enegery audit for every deweling in US.
Heavy fines if not done or refused accsess. This should really help. Thanks to our lawscrewers.

[And the circus continues]

dewdalohajoey wrote:

And what specialty r u talking about?

I don't know, she was not giving any free sample but then again, I try to stay from those that have a knack for standing on a street corner looking like somebody's sister. But I seriously doubt it had anything to do with just holding hands.

[Grinchie]

ipj737 wrote:

<quoted text>
So apparently children didn't attend school the same time last year, huh?
You are one funny guy.

Nice strawman argument Bozo. Is your brain so damaged that you cannot conceive of new families movie up or to better school districts, or do you naturally use the shallowest thought process you can for everything?

I meant what I wrote, and it's too bad that Comprehension is not part of your reading skills.

[Grinchie]

Guru wrote:

Funny...I see prices dropping in the supermarkets too, and in places like Bed N Bath N Beyond...I don't see anybody NOT in there...in fact it is crowded with people purchasing what they need.
I also don't see the sales people telling anyone NOT to buy now as it will be lower next year. Do you really expect a sales person to just walk away from making a living because you can't afford the current prices of homes... or otherwise want them to drop further for your benefit? Lots of people are getting some great deals right now, in terms of financing, prices, or both.
Bottom line is that now is the time to do your research, get to know your market, and make your own decisions. Just don't be like those who always complain about everything they can't control.
When you can "see it", make your move, in your own time, and in your own price range. It really isn't any more complicated than that.

You mean the stores that haven't closed down?

We are doing the research, and the numbers aren't there, despite your attempts to cheerleading to a dying patient.

It pretty clear that you focus on the narrowest definitions of good financial news, which is exactly what makes you such a schill. No better than all the other talking heading that claimed the Economy was great until it crashed in September 2008.

You are mighty silent on the huge problem of Commercial Real Estate which is virtually ignored in the mass media, and most certainly you stay away from it as far as possible, yet this time bomb is getting set to explode any day now, and the aftermath is going to make the current deflationary trend in residential real estate look like a birthday party.

In the Bay Area, in established commercial districts, there are literally 10's or Millions of square feet of commercial and industrial building sitting empty. Many with railroad spurs right up to the docks, and within 3 miles from a transoceanic shipping port, in a job market that could absorb it all it they were to start up tomorrow..

Yet, it sits there, empty, idle, decaying, for the third year straight. That's right, I've been watching for 3 years, waiting for any signs of life, but there is NONE WHATSOEVER.

People like you goading people on to purchase right now are sick individuals. You prey on people fears that somehow they'll miss the bottom, when in reality, it doean't matter. So what if you pay and extra 5% if you are sure the market has stabilized? I'm willing to make that decision, and everyone should be willing and able to walk away from a deal if it doesn't feel right.

No Guru, you are wrong. The market is heading down for another deflationary event barring wartime mobilization or other unnatural events. People don't have jobs here, and Silicon Valley is not healthy. Manufacturing is not healthy, and those basic fundamentals are the reality that you fail to even acknowledge when you post your anectodal stories of Bed Bath and Beyond. You think Towels, linens and Aplliances is going the revive the economy? With whose money?

Hawaii hasn't seen the worst of it, and all the angst in Hawaii is showing through in all the anger from the Republicans that realize that they are standing there with a Bullseye painted on their backs as the root cause of the greed and lack of regulation that got us to where we are today.

What surprises me the most about your most recent post Guru is that you can no longer show any meaningful statistics, articles, or data that support your claims, and would rather post silly links to something that only you would find amusing.

It shows that you are nothing more than a bag of gas...

[Paper Pauper]

Grinchie wrote:

<quoted text>
You mean the stores that haven't closed down?
We are doing the research, and the numbers aren't there, despite your attempts to cheerleading to a dying patient.
It pretty clear that you focus on the narrowest definitions of good financial news, which is exactly what makes you such a schill. No better than all the other talking heading that claimed the Economy was great until it crashed in September 2008.
You are mighty silent on the huge problem of Commercial Real Estate which is virtually ignored in the mass media, and most certainly you stay away from it as far as possible, yet this time bomb is getting set to explode any day now, and the aftermath is going to make the current deflationary trend in residential real estate look like a birthday party.
In the Bay Area, in established commercial districts, there are literally 10's or Millions of square feet of commercial and industrial building sitting empty. Many with railroad spurs right up to the docks, and within 3 miles from a transoceanic shipping port, in a job market that could absorb it all it they were to start up tomorrow..
Yet, it sits there, empty, idle, decaying, for the third year straight. That's right, I've been watching for 3 years, waiting for any signs of life, but there is NONE WHATSOEVER.
People like you goading people on to purchase right now are sick individuals. You prey on people fears that somehow they'll miss the bottom, when in reality, it doean't matter. So what if you pay and extra 5% if you are sure the market has stabilized? I'm willing to make that decision, and everyone should be willing and able to walk away from a deal if it doesn't feel right.
No Guru, you are wrong. The market is heading down for another deflationary event barring wartime mobilization or other unnatural events. People don't have jobs here, and Silicon Valley is not healthy. Manufacturing is not healthy, and those basic fundamentals are the reality that you fail to even acknowledge when you post your anectodal stories of Bed Bath and Beyond. You think Towels, linens and Aplliances is going the revive the economy? With whose money?
Hawaii hasn't seen the worst of it, and all the angst in Hawaii is showing through in all the anger from the Republicans that realize that they are standing there with a Bullseye painted on their backs as the root cause of the greed and lack of regulation that got us to where we are today.
What surprises me the most about your most recent post Guru is that you can no longer show any meaningful statistics, articles, or data that support your claims, and would rather post silly links to something that only you would find amusing.
It shows that you are nothing more than a bag of gas...

In addition to the CRE collapse, there's also the matter of outstanding credit card balances and other types of personal loans that cannot be paid off, and have yet to hit the fan. Nope, the American ATM is broke. It'll take some time for reality to sink in, but eventually everyone will realize that things will never be the same.