O'ahu's condo prices soaring

Honolulu Advertiser ^ | 11:57 a.m., Tuesday, December 3, 2002 | David Butts

[Vidalia]

The Honolulu Board of Realtors reported today what anyone shopping for a condominium already knew: prices are rising fast. The median price for a condominium on O'ahu climbed to $160,000 in November, its highest since 1997 and closing in on the $200,000 peak in 1990.

[Vidalia]

"If you like it, you better go for it that day. If you think about it overnight, you are going to lose it."

That's not "high pressure sales" is it?

These guys and Bill Clinton are on the same rung...

[Spyder]

Makes me glad we purchased in June 2001 instead of waiting. Friends who bought just a lot in Ewa about the same time we bought sold it for a $30K profit just a few months later.

[Larry Lucido]

My brother bought his 2 bedroom condo for $70,000 back when he was first stationed at Barbers Point back in 1988 or so. He's retiring next year, and should make a tidy profit if he decides to sell and move his family stateside.

[Vidalia]

I am one who is more than "familiar" with the real estate business in Hawaii.

Would you be surprised that there has been rampant "price fixing" in the real estate markets by the realtors?

Many professionals who are associated with the real estate professionals have seen a 15% to 25% increase in property prices within one week all across the board for properties from South Point, Big Island to Princeville, Kauai when the previous months' prices were more in tune with the market appraisals.

This was not coincidence, it was the "nod, nod, wink, wink" that was very noticeable all across the state in the Multiple Listings.

No economic factor changed within or without the state.

Many of these realtors are in for a surprise of sorts...

[JoeFromCA]

Bargain prices by California standards.

[Bush2000]

I know. I was going to laugh when I saw how weak those prices are.

[Vidalia]

Bargain prices by California standards.

Many in California are paying much more in mental agony and unnecessary faux taxes.

I have removed my Angus/Brangus operations, along with other organic operations from that ignorant state and will no longer pay the hundreds of thousands in insane taxes that helped pay for druggies and whores to sh*t and piss on the public streets of every township in that sick state.

If you live there, enjoy the declining economic situation and overtaxation that is surely to continue...

[socal_parrot]

That's not "high pressure sales" is it?

Actually, it's low supply and high demand.

[Grim]

Would you be surprised that there has been rampant "price fixing" in the real estate markets by the realtors?

Realtors don't FIX prices. At most they guess what the market will bear and set prices accordingly. If prices are too high, people don't buy. Prices then come down. It's really quite simple.

[Vidalia]

Realtors don't FIX prices. At most they guess what the market will bear and set prices accordingly.

NOT if the market already a "set" limited, market that they, the Realtors are only aware of.

The public, unless they have access to the MLS will never see the across the board one week "jumps" in sales prices that have no basis in fact.

Other appraisers will attest to that fact, for their prices of appraisal do not depend on the selling price of the property, unlike the commissions of the realtor/salesmen...

[speekinout]

The median price for a condominium on O'ahu climbed to $160,000 in November,

What size condo would that be? It doesn't sound like a very high price compared to condos in most mainland cities. An efficiency sized condo within commuting distance of NYC or San Fran would be a steal at that price.

[fogarty]

"...move his family stateside."

You do know that Hawai'i is one of the states in the US right?

[Larry Lucido]

Thanks, guess I meant to say CONUS.

[Vidalia]

You do know that Hawai'i is one of the states in the US right?

And some of these folk want to "educate" us about real estate and the economics thereof?

Should I shake or shudder to think about that?

The losers on the educational list simply continue to shake, rattle and roll into the nirvana of ignorance...