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Market Conditions in 96707 : Real Estate Advice

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Activity 1
Tue Apr 10, 2012
Mike Gallagher answered:
Aloha:
My name is Mike Gallagher and I own my Brokerage here on Oahu.
Overall, in my opinion, Mililani Mauka is the better are to purchase into over Kapolei and Ocean Point. It cost more to get into Mililani Mauka but it is worth it in the long run in terms of appreciation. The hard part is finding somethign to buy. There is little or no inventory in Mililani Mauka right now and this is usually the case.

There is too much inventory in both Kapolei and Ocean Poin right now.
I have made you a set of graphs to look at and I have posted them onto my website:wwwhawaiirealestatestatistics.com under "Trulia Answers." It is a P.D.F. so you can open with the Free Acrobat Reader if unless you already have Adobe software.

There you will what you are looking for in order to make your comparisons in performance.
I recommend you also read my Market Reports including the new Oahu Report on my website as well.

Finally, I do not have a "Crystal Ball" to anwer your question about what is going to happen over the next few years but best guess is:

1) Interest Rates are going rise.
2) We will hit the bottom of the market sometime in the next few years
3) The rate of decline in home values is still slightly going down but at much less steeper rate than in the past few years. We are now 'flatline' in Sold Prices. For the most part they are going up or down.

If you have anymore questions you can contact me at mikeg@hawaii.rr.com or 808-384-9015.
I wish you much Aloha,
Mike Gallagher, Mike Gallagher Real Estate, Inc.
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