Articles
What Is the Waimea Market Doing Now?
by Bill Jardine Apr 26, 2006
Dear Reader,
It seems like everyone is trying to guess what the real estate market is doing and how it might impact their particular situation. Is your property still worth what you thought it was? Is this the time to buy? Is this the time to sell? As usual, the answer is mixed!
Many properties sold last year for high prices to speculators betting that an even greater fool would come along and provide them with a quick profit. The prices for those properties are in steep decline now that the speculators have largely left the market.
Many properties, such as modest housing for new families, are sensitive to interest rates. Since rates have increased recently, prices for those properties must decline as well. Accordingly, we are seeing very little activity in the $600,000 to $800,000 price range but still lots of trading in the $400,000 to $600,000 price range.
Ocean front properties are still in demand and are still a great value due too their scarcity, but resort condos are a dime a dozen in many cases.
This is a wonderful time to find a bargain, and many smart buyers are making offers well below asking prices. You can too! Within a few short years the Boomers will be retiring in full force, and many experts predict that this increased demand for retirement properties will drive our prices to the stars and beyond. What do you think?
Call us to discuss your future in real estate.
