Monday, February 7, 2011

Kauai Real Estate market's past, present and future

Today's local community newspaper, "The Garden Island", published an informative article about the Kauai real estate market, past...present....and future.

"Residential real estate market slow to rebound"
I agree that the market is in a s-l-o-w rebound, but we are rebounding. People are out there with money, looking for "deals". They don't trust the stock market and are willing to divert their investments to real estate, especially Hawaii real estate. And even if your property loses economic value, (which I doubt) it is still a beautiful and enjoyable place to live.  

However, the deals go quickly. With the advent of the internet, consumers are savvy in finding information. If you are interested in obtaining a "deal", as soon as you see a property that interests you, you'll have to pick up that phone, call your realtor and be ready to submit an offer.  That means you need to be prequalified, if you need to borrow money. You should also be firmly decided on what your parameters are: where you want to live, the features of the home you MUST have (3 bedroom, 2 bath, oceanview, school vicinity,  etc), how much you want to spend, etc.   Otherwise, while you are discussing the nuances of  purchasing this "deal",  the other person has already submitted an offer right under your nose.   Trust me, I've seen it happen once too often.

Better yet, find a realtor beforehand and provide him with all your requirements. When a "deal"  pops up, you'll be among the first to know...and you'll have an offer in contract ready to submit to the seller's agent as soon as the ink from your signature dries!