Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My original post wasn't about home prices - but was stating it is really hard for people to get financing - so many are forced to be landlords since they can't sell their units. The majority of condos in Oahu require at least 20% down since the owner occupancy is to low for FHA financing or is in litigation and require a higher down payment. Rates should stay low for another 2 years - prices don't seem be going up - there is excess inventory - no need to rush to buy. the property will still be there in 10 years and even if the price went up you are net even by skipping the negative cash flow.
Also, I didn't say wait 10 more years - I said, what's the rush - no data indicating prices going up - data from the fed says rates low at least more years.
I think you are wrong for advising people to wait. I also don't think you understand the figures you're reporting on median prices. WaikikiBoy explained very well how to interpret the data.
People are always telling me how lucky I was to buy in the 70's..oh, and the 80's & 90's and the 00's while they are still waiting for the perfect deal. and waiting........
Meantime, condos in Kailua/Waimanalo had the biggest increase in price at just under 60 percent, from $373,000 to $589,000
What really matters is what is happening to the specific market for the type of property you're looking for and the area. Waiting is for renters.
Your link focuses on median price movement and it will be a buyers market until at least the end of the year.
I stand by if you bought in 2008, 2009, 2010, and 2011 - you are unlikely to be ahead and quite possibly several percentage points at a paper loss.
I also said there are deals. I didn't tell anyone to wait - I said, what's the rush - there is excess inventory and low rates for quite some time ahead.
Your link focuses on median price movement and it will be a buyers market until at least the end of the year.
I stand by if you bought in 2008, 2009, 2010, and 2011 - you are unlikely to be ahead and quite possibly several percentage points at a paper loss.
I also said there are deals. I didn't tell anyone to wait - I said, what's the rush - there is excess inventory and low rates for quite some time ahead.
I said, what's the rush - no data indicating prices going up
So you really want people to wait until exactly what date at the end of year based on...?
I closed 9/2008 and am up about $80,000!I have a hard time imagining I'm the only investor with upside since then. So maybe you're saying people should not wait but get a DEAL? Duh?
I said, what's the rush - no data indicating prices going up
So you really want people to wait until exactly what date at the end of year based on...?
I closed 9/2008 and am up about $80,000!I have a hard time imagining I'm the only investor with upside since then. So maybe you're saying people should not wait but get a DEAL? Duh?
I said - you are unlikely up (not you, in general). And you aren't up $80K until you actually sell the place. Home/condo prices aren't up since 2008 except in rare cases - all the data suggests that. I mean, come on - you really think home prices are up in general since 2008 in Hawaii?
I gave specfic price points and data from the Coral Strand, Pinnacle, and Moana Pacific - all highly desireable buildings - they are way, way down since 2008 and vary from downtown, Ala Moana, and Diamond Head - what buildings are going up since 2008? Lets see some property names of buildings and lets look at the records.
Last edited by whtviper1; 02-09-2012 at 11:24 PM..
How can you say that? You mean I'm up $800,000? Seriously, how much is my property worth today? Waiting for your answer.
Huh? you said you were up about $80,000 (that is 80K) - and I said you arent up that until you actually sell the place
I'd love to hear about specific buildings that have track records of increased sales from 2008.....I named 3 way down, Pinnacle, Moana Pacific, and Coral Strand......
Huh? you said you were up about $80,000 (that is 80K) - and I said you arent up that until you actually sell the place
I'd love to hear about specific buildings that have track records of increased sales from 2008.....I named 3 way down, Pinnacle, Moana Pacific, and Coral Strand......
You said I'm not up until I actually sell? How do ya figger that?
It's kinda like a person who has an autographed baseball and says it is worth X amount of dollars. It isn't worth X amount of dollars until you find someone willing to actually pay that much.
It's kinda like a person who has an autographed baseball and says it is worth X amount of dollars. It isn't worth X amount of dollars until you find someone willing to actually pay that much.
Exactly!
Nobody else has chimed in about their real estate windfall since 2008 - I didn't say it couldn't have happened - but it isn't likely.
It's kinda like a person who has an autographed baseball and says it is worth X amount of dollars. It isn't worth X amount of dollars until you find someone willing to actually pay that much.
So how long after something sells does it retain its value or does it just go to zero after the purchase? Seriously, no value until something sells?
So how long after something sells does it retain its value or does it just go to zero after the purchase? Seriously, no value until something sells?
I didn't say that it has no value. What I am saying is that you won't know the true value until you have a buyer.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
