Many folks, both kama’aina and mainlanders, continue to ask me if this is a good time to buy or sell a home, condo or land. The answer is YES! Why? Let’s take a quick look…
Unprecedented (per John Todd of Kama’aina Mortgage in Waimea) low mortgage rates haven’t been seen in decades! When we purchased in 2012 we were grateful to have a purchase money mortgage carried by the previous owner at only 3%. I hadn’t heard of anyone who enjoyed that low rate. Hubby said I shouldn’t even share that tidbit of information. Hard to do!
There are so many programs for first time home buyers, and mortgage companies are going nuts with new clients as well as those wanting to re-fi. Now IS the time.
I hate to even bring this up! But, with our state shut down over the past three+ months, this is an unbelievably special time for locals. Why? Cuz we have no, or very little, mainlanders to go up against when making an offer! That will change soon. So, for now, this is the very best time in history for a local to purchase real estate.
Prices Remain Strong
No, home and land prices are not dipping…in fact, they remain steady, with a high percentage closing near, at, or slightly above list price.
I opened three escrows for clients this past week, so I can safely and confidently say that this IS the time to make your move…literally! Wether you are in the market to sell your home, or looking to purchase real estate, it’s a great time because the competition is far less, the mortgage rates are unbelievably low, and there is little competition.